The Appraiser Shortage Myth Part 43

[J Grant]

JG, I'm not defending Servicelink by any stretch of the imagination. I am not a fan of the company by any means. But as I've said before, I'll call a spade a spade.

I lost a nice chunk of business by them buying out ULS (about $20k/yr) but I do know people there. That is why I will say that they do pay the appraiser's fee. It's a technicality, but it's true. If the appraiser has his/her fee set at $250 or $350 or whatever for an assignment, they do pay that. SLink doesn't come up with that fee, the appraiser does. They pay the "appraiser's fee" for the assignment. So it is the appraiser's fee!

If appraiser's feel they are only worth $250 - $285 in my county ($300 seems to be the upper end for the Link here - Pinellas) then so be it. Again, I've been that $250 guy before; it sucks, but ... so do many other things in life. Fees, along with a few other things, are the reasons I won't do business with Servicelink. The fee thing isn't because I don't think they'd pay my published fee for an assignment, it's because ... well, it's Servicelink and I don't want to work for them

) It omits that that $250 -280 is not C and R, if you are getting $400-$475 from direct lenders and non AMC work and VA is paying $485 THAT is the measure of C and R, not that a company pays an appraiser "their fee",

2). Yes, technically SL pays that low bid appraiser "their" fee of $250, but SL also refused to pay 10 other qualified appraisers available for the order "their " fees, of of $285, $300, or $310 or $325 or $350 or $400. The borrower paid, perhaps $500,so the incentive for choosing the lower bid appraiser is because SL makes more profit from the differential.

I have no personal beef with SL, but I can't /won't work for peanuts.

 

[bnmappraisal]

As I have said before, that is a goal, not a requirement.

But if too many reports come in after the 48 hr TAT goal (let's just say 80% maybe? Just for giggles or reality) their scorecard rating may be changed and/or they may (probably) aren't going to see more assignments from Servicelink? I guess it's just an 80% goal at the Link

(Edit: by 80% I mean that 80% of the reports are delivered within 48 hrs of inspection; LESS than 80% is seen as a need to change the scorecard rating)

 

[Eli]

But if too many reports come in after the 48 hr TAT goal (let's just say 80% maybe? Just for giggles or reality) their scorecard rating may be changed and/or they may (probably) aren't going to see more assignments from Servicelink? I guess it's just an 80% goal at the Link

The more time you give me, the better I get!

 

[Deleted member 130081]

Neither I nor my company take any part of the appraisers' fees. Appraisers set their fees and we pay those fees. When I deal directly with an appraiser and ask that appraiser to tell me what is his/her fee, and then I pay that, how am I "taking" the Appraiser's fee. I am not taking it - I am paying it.

Sorry you never read the part in the C&R rules about how the market should be the driving force. As an appraiser I would hope you would understand that concept.

Yea...I know you're a nice guy and everything D, but that snap-crack about market forces is BS. We do know about market forces and as an appraiser, so do you. The AMC surge in the industry was not born out of free-market forces, rather government regulation. That regulation was imposed on a group of people who had dedicated their entire lives to building up their business, including specific education, apprenticeship and years of sales, only to have it wiped away over-night - from regulation, not free-market forces. Appraisers had a choice to make, accept lower fees or find a new profession - starting over from nothing in many cases. That decision had to be made the day the HVCC was passed. That aint free market and you know it. I struggle to think of another industry that pools a work force against each other the way it is for us. I know you're biased so keep on keepin' on, but I aint buying that bull and will call it out every time.

 

[Michigander]

If I were going to engage a builder to do an addition on my house, I would first get recommendations, second get bids, and third throw out the high and low and go with the one in between, unless of course the high (or low) one was recommended by every person I spoke with. Find that usually the contractor who overbids is because they don't want the work that much, the one who underbids is desperate, and the middle ones know their worth and how to price their product.

Are we much different?

 

[Eli]

If I were going to engage a builder to do an addition on my house, I would first get recommendations, second get bids, and third throw out the high and low and go with the one in between, unless of course the high (or low) one was recommended by every person I spoke with. Find that usually the contractor who overbids is because they don't want the work that much, the one who underbids is desperate, and the middle ones know their worth and how to price their product.

Are we much different?

Yes because the market structure you would be operating in is different. The ratio of buyers and sellers is different. You don't really have enough market power to have an impact on market price.

 

[Deleted member 130081]

If I were going to engage a builder to do an addition on my house, I would first get recommendations, second get bids, and third throw out the high and low and go with the one in between, unless of course the high (or low) one was recommended by every person I spoke with. Find that usually the contractor who overbids is because they don't want the work that much, the one who underbids is desperate, and the middle ones know their worth and how to price their product.

Are we much different?

Yes and no. The government has not told the consumer they can not engage the contractor themselves, but must have someone else do it.

 

[djd09]

I will call them shills. That is what they are, no reason to sugar coat it. Or i can call them dividers. Same difference.

 

[Deleted member 130081]

This thread is about an appraiser shortage. I cant wait.

 

[djd09]

Teacher unions would never let any of this happen.

Police unions know who butters their bread.

I know union enforcers. They mean business.