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Mark to Market

Discussion in 'Illinois' started by ExplainDNA, Jun 6, 2011.

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  1. ExplainDNA

    ExplainDNA Senior Member

    14
    Oct 30, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Hi there,

    We do not accept any blast from any firm in existence, but because I get their e-mails I see how fast blasts are being accepted from Mark to Market by Chicago area appraisers. Try under a minute on the average.

    Today a 1025 was accepted in under a minute for a Multi-Family in... ...wait for it... ...Broadview. That should mean something to Chicago area appraisers, and for those who aren't from the area you'll have to trust me on this, there ain't many in Broadview. (Last week one came over for Huntley. A four unit. Think about that those of you who know better.)

    Beyond that, the thing is, it's an REO job, a full blown PIA, and the poor sap having accepted it did so for the pleasure of a whopping $300.00 fee.

    Personally - and flame a way all ye with great faith in their fellow man - I have no doubt this will be one of the worst 1025's ever tendered by an Illinois appraiser. And I see these on a regular basis. M2M blast so many that their regular appraisers won't touch, and these get picked up by desperate chumps who haven't any idea why they're in this game.

    I say that in all honesty, no malice. The addresses I'm seeing? The complexity of the 1025, especially lately? How quickly they get accepted (all under a minute, even when the blasts are sent in the early AM)? And all of them for between $275.00 to $300.00, with NO negotiation possible? (M2M is a non-negotiation firm.)

    Those will be the worst reports ever seen. I honestly don't know how these firms survive with ordering methods like that. Are the reports really passable in their clients' eyes? Really? Maybe they're too dumb to know the difference, maybe that's why lenders haven't a clue when they sell at half market value on oftentimes decent properties.

    Just ranting.

    Best,

    Dave...
     
  2. Metamorphic

    Metamorphic Senior Member
    Gold Supporting Member

    41
    Mar 15, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    I will very occasionally get a M2M job. The fee is low, but they're a pretty low maintenance client. They're always vacant REOs so you can go in whenever you want, and I've never been harangued on review or about anything else. Pretty much just accept the job, go see it whenever its convenient, turn int he report, and wait for the check.
     
  3. form1025

    form1025 Junior Member

    5
    Jul 11, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    "I see how fast blasts are being accepted from Mark to Market by Chicago area appraisers. Try under a minute on the average."
    Pathetic and disgusting. The Illinois AMC law should not allow this type of solicitation, it smacks of unprofessionalism and seems immoral.
     
  4. ExplainDNA

    ExplainDNA Senior Member

    14
    Oct 30, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    I don't mind their $300.00 SFR jobs, so long as it's no hemorrhoid and it's assigned. What I won't accept is a 1025, let alone an REO, in our market for between $275.00 to $300.00 Can't do it, won't do it, SHOULDN'T DO IT. 4 day turn time, too boot. Or else.

    And this one, in virtually non-existent Multi-Family Broadview, will be a major PIA, I'd pay money to get my hands on that report.

    Dave...
     
  5. James Sturm

    James Sturm Member

    7
    Jan 4, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    Forget this company

    Someone out there has an auto-accept program which MtoM does not agree. Do not fee sorry for the person or persons who are getting these orders. They probably job them out to someone else for another discount fee. I called and complained to them last year and demanded they remove from their e-mails. They did as I demanded.
     
  6. ExplainDNA

    ExplainDNA Senior Member

    14
    Oct 30, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    I advised them of the "auto-accept" tool, as well. On numerous occasions. I showed them the timing, and asked them how in the world ANYONE could get their e-mail blast, stop what they're doing, zip on over to their site, sign in, navigate to the specific portion of their rather complex site and accept any job in less than a minute?

    I defied the gal to try and do that manually. She just giggled and assured me that they are confident those accepting these jobs are doing so manually. What can you say to that kind of stupidity, anyway? Willful blindness, for sure.

    Anyway, I'd sure love to see that Multi-Family from Broadview. I'd pay to see it. What a hack job that one will be.

    Best,

    Dave...
     
  7. Don Fiore

    Don Fiore Junior Member

    5
    Sep 7, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    This practice definitely should be abolished. NO AMC should be allowed to ask an appraiser to immediately accept/decline an assignment or agree to or propose a fee for an assignment or to agree to a pre-determined turn time without any information beyond an address. It's one of the elements that's so glaringly wrong with the industry today.
     
  8. ExplainDNA

    ExplainDNA Senior Member

    14
    Oct 30, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Heh. Just got another job offer from these nitwits. This one was a real winner - St.Anne, in Kankakee County.

    I didn't even give these moonbats the courtesy of a reach-around - er, I mean go to their website to decline the offer. Quite frankly I hope it takes them a lunar cycle or two to find someone dumb enough to handle that rural that hemorrhoid for a lousy $275.00.

    Best,

    Dave...
     
  9. leelansford

    leelansford Elite Member

    44
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois

    Look to the 'big banks'...they know exactly what is happening. If you think that they really don't care...you would be correct.
     
  10. ExplainDNA

    ExplainDNA Senior Member

    14
    Oct 30, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    OUCH.

    As a rational person it is hard for me to digest that statement, "they don't care." Wouldn't their shareholders be stunned to hear of that..?

    Dave...
     
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