AMCs or not AMCs. that is the question

[Educhiito]

Dear Fellow Appraiser

What are we going to do if this bill become law and we all have to go AMCs next year? are we going to lose all our clients to them? are we going to have to cut our fees by 50% or more to survive?
What if we get together and create our own AMCs so we can compete with them. I heard someone saying something about Appraiser Cooperatives. One of them is RMA (Reverse Mortgage Appraisers) I got emails from them all the time. They say they are very busy and if I pay them 100 bucks to be on their list they will give me a lot of jobs, I don't know if its true, have any one work with them already?

 

[Tom Woolford]

Save your money. I drank the cool-aid with no results. I should have known better.

 

[lenfishman]

Hey Tom,

I'm sorry you feel that way. It appears your license expired about 30 days after you signed up. Please contact me at len@fishman.net

Thanks,
Len

PS - No where do we say "give you lots of jobs"... we are marketing the heck out of the website to lenders and getting them to change their thinking about appraisers.

 

[KEVs77]

Hey Tom,

I'm sorry you feel that way. It appears your license expired about 30 days after you signed up. Please contact me at len@fishman.net

Thanks,
Len

PS - No where do we say "give you lots of jobs"... we are marketing the heck out of the website to lenders and getting them to change their thinking about appraisers.

I have signed up with them as well, with no results thus far after 1 1/2 months. This is also after lowering my fee to $350 to match other appraisers who are trying to undercut the rest of the market. Not very promising. There is one guy on there charging $225 for appraisals, perhaps all of your work is being sent to him due only to his low fees? Typical AMC behavior.

 

[Tom Woolford]

I just revisted this post after my entry in June and the response:

"Hey Tom,

I'm sorry you feel that way. It appears your license expired about 30 days after you signed up. Please contact me at len@fishman.net" Whats really interesting is that ALL appraisal Licenses in Florida expire 11/30/2008. Long AFTER it supposedly expired.

 

[Margaret Treat]

Hi All,
I work in the Portland metro area of Oregon and keep an eye on the Washington posts. I saw this and thought I'd add a note on the co-op idea.

I was a little concerned about the HVCC and was hoping for some choices other than the original document. I write a newsletter to my clients and have kept them up to date with the HVCC and have said I would get them some info on how to order an appraisal if the HVCC goes through as it is written. I didn't want to send my good clients to an AMC since I don't have any I have faith in one to provide good service and a good product.

I heard of the co-op here on the forum. I am signed up with the National Valuation Service and Diane Forsberg is our Oregon rep. I am not sure if Washington has a rep or not but the website will tell you how to sign up. This is still in the development stage but I think the goal is to be up and functioning nation wide well in advance of the new HVCC planned start date.

Either way, it is an option for those that want to put their clients in better hands than an AMC.

There web address is : http://www.nvs.coop/

PM me if I can answer any questions of if you want Diane's information. Good Luck! Margaret