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  #1  
Old 07-11-2011, 08:40 AM
RustyLingerfelt's Avatar
RustyLingerfelt RustyLingerfelt is offline
 
Join Date: Oct 2004
Location: Chatsworth, GA
State: Georgia
Professional Status: Certified General Appraiser
Posts: 409
Cool Can you help a fellow appraiser out?

That was the call I got. I had sent a bid into Mark to Market on 65+/- acres of a commercial narrative. We went into negotiate as their offer was $500. This is located within my county of residence, with MLS data for only two counties so you have to work this area to understand this area. They had accepted two other commercial assignments one for a complex apartment/commercial building on 10 acres out in the middle of no-where that could not support its claim to 10 acres as 6 were family land and a six lot subdivision that was located in the middle of Fannin county with easement access. Complex type of assignments. I felt that the fees were reasonable for the assignments not great but reasonable.

Now on to my call to arms- this 65 acre was not one lot but one large tract with 4 to 5 smaller lots divided into a one inlet road "subdivision" with excess land of some 45 acres that were limited access. I call to explain the over-all situation-canceled order. Reason given fee too much found another vendor that will do it for less.

Telephone call I get- Hey man I got an order here for 65 acres in your neck of the woods, now I don't have the mls data and I really don't know how to do it and was wondering if you would be willing to be 2nd appraiser on this deal for -200 less than I quoted before I found out it was also a inlet subdivision and I (he) keep(s) $150 and just follow you and learn how to do this time 5pm- answer no! Calls back at 9pm and is really wanting me to do this as he is two counties over and his wife is on him about the fee so now he wonders if I will do this to help him out and for 1/2 the fee or for $200 to show him how to get started.

Answer- NO!

This appraiser is a CG????????

I help most anyone who comes to our office and or calls. That's who we are but when Mark to Market assigned this over to someone because I wanted a higher fee for complex work this is what they got. Over and over I read about how appraisers should stand together, reality check this guy wanted the fee no matter what the fee was because it was higher than being a staff appraiser for one of the AMC's.

I don't have a question but when people start acting like residential appraisers in the commercial realm then there is no professionalism within the ranks.

This property-
large tract of land- $1000
5 unit inlet subdivision-$1000
unit sales analysis- $500
fee starts at $2,500
fee from AMC $900

After request for fee increase canceled two other orders on commercial lots. I do not think I will waste my time with this group anymore. I just got a call from a group at a hospital while trying to finish this for a medical building and they accepted my fee so I guess if you pass up the buring bag of stuff for real work it's all good. So I am just venting over competency and the lack of it within our ranks.

Just another day in business!
Rusty Lingerfelt
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  #2  
Old 07-11-2011, 09:36 AM
Scott R Marshall's Avatar
Scott R Marshall Scott R Marshall is offline
 
Join Date: Dec 2006
Location: Rio Rancho, NM
State: New Mexico
Professional Status: Certified Residential Appraiser
Posts: 2,473
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I see this as a perfect opportunity. Obviously the appraiser hired does not know what they are doing. If you can stomach it and you are really the type who helps people out, reverse the roles. Tell the appraiser hired that you would be glad to take them along as the 2nd appraiser/assistant in order so they can learn the process of appraising this type of property. Offer to pay them the same fee they quoted to you for your assistance, before they realized that they themselves actually should be the assistant. Of course that means that the original appraiser will have to disclose to the client that they are not competent to appraise the property but they have done a wonderful thing for their client and have located a competent appraiser to complete the work. Of course that means that the client will have to contact this appraiser directly and the fee may be different than what the original appraiser quoted but in the end everyone wins.

Or the incompetent appraiser just completes it for a subpar fee without knowing what they are doing or the client hires another dolt, err appraiser, who is even more deluded than the first appraiser in not realizing just how much they do not know.
  #3  
Old 07-11-2011, 09:52 AM
Mountain Man's Avatar
Mountain Man Mountain Man is offline
 
Join Date: Jan 2002
Location: North of the ATL.
State: Georgia
Professional Status: Certified General Appraiser
Posts: 15,245
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You were too nice to them Rusty. I've had calls from folks on the "other" GA forum wanting a "co-signer" after getting in over their heads. My answer is a bit more strong than just a No. Frankly, knowing the area and the situation of the parcel you are talking about, I wouldn't have considered doing it for less then $3,500... and no it would not be on the "land form". I think we've turned down that request for a bid a half dozen times, told them we don't do "form work".
  #4  
Old 07-11-2011, 10:18 AM
JTip's Avatar
JTip JTip is online now
 
Join Date: Oct 2004
Location: Central PA-Altoona-State College
State: Pennsylvania
Professional Status: Certified Residential Appraiser
Posts: 3,754
Default

Quote:
I had sent a bid into Mark to Market on 65+/- acres of a commercial narrative.
Pass. 'click'
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  #5  
Old 07-11-2011, 11:12 AM
Mountain Man's Avatar
Mountain Man Mountain Man is offline
 
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Location: North of the ATL.
State: Georgia
Professional Status: Certified General Appraiser
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Quote:
Originally Posted by JTip View Post
Pass. 'click'
And repeat 6 more times as the request gets rotated through every AMC who promises the client they can get the order placed.
  #6  
Old 07-11-2011, 11:19 AM
Noreen Noreen is offline
 
Join Date: Feb 2011
State: New Hampshire
Professional Status: Certified Residential Appraiser
Posts: 1,743
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That clown has no business accepting an assignment that he is not competent in completing. I know GA is strict, do they have an AMC regulation in place? This is multilevel greed at the expense of competency.
  #7  
Old 07-11-2011, 11:30 AM
Elliott's Avatar
Elliott Elliott is offline
 
Join Date: Apr 2002
Location: Pumpland
State: Oregon
Professional Status: Certified General Appraiser
Posts: 11,059
Default

I start out my side of the conversation with, "Yeah, I remember bidding on that
assignment." So the implication is that they thought it was easier then I did and
bid it less than I did.

Free help? No, not on one I've competed with and lost in this dog-eat-dog fee market.
Help with Comps? Probably start around $250. Hey, they can always do their
own research, can't they.
  #8  
Old 07-11-2011, 04:54 PM
RustyLingerfelt's Avatar
RustyLingerfelt RustyLingerfelt is offline
 
Join Date: Oct 2004
Location: Chatsworth, GA
State: Georgia
Professional Status: Certified General Appraiser
Posts: 409
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I really feel for the guy but you got to stop the insanity. He stopped by while I was out in the field the order is due Wed! He has no commercial software and does not have a word template. He told my wife that he was all excited to get $900 for an order! She in disbelief looked at him and said it is better to know thyself and thy limitations than one payday! He never got it!

Rusty

Oh Mountain Man, they still call me from time to time! I give them the same answer- Sorry but my signature is mine only!

Last edited by RustyLingerfelt : 07-11-2011 at 04:57 PM. Reason: more to say!
  #9  
Old 07-11-2011, 05:09 PM
Michael S Michael S is offline
 
Join Date: Mar 2009
Location: Albuquerque
State: New Mexico
Professional Status: Certified General Appraiser
Posts: 1,028
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Wow $900 for a commercial assignment? I can't think of the last job we did that was less than $3,000. Maybe a restricted report that's an update from 6 months ago.
  #10  
Old 07-11-2011, 05:20 PM
Mile High Trout's Avatar
Mile High Trout Mile High Trout is offline
 
Join Date: Feb 2008
Location: -
State: Colorado
Professional Status: Certified Residential Appraiser
Posts: 11,612
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Go with the old mechanics approach.

The fee for my service is X. If you want to watch and learn and bother me while I'm working the fee is X + X again. Or you could have told him you'll take the whole fee, and he could still pay you $200 for the learning experience. He's likely to be more disenfranchised with seeing how much work it really takes, than he will be by losing the order somehow.

Plus, appraisal order price shoppers typically don't accept office to office cooridination between two different approved appraisers. Causes short circuits in their office pc's and next thing you know it's an office fire and everybodies accounts payable records are missing.

You should have called the amc back, told them of your encounter, and demanded the order be placed back in your box with an x+ upcharge!

Call the next appraiser, and assure that data is only shared appropriately with those who have the proper subscriptions.

"We got another townie up here!"
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