1004p

[J Grant]

As reported here and elsewhere via offering exhibits I would say that there is evidence pointing to collusion and possible price fixing. The coincidence that these requests for service fees are the about same...is no coincidence
Make no mistake - the paultry fees offered/tested (and if accepted) will fast become standardized and written in stone as customery and reasonable.
Without a pushback now There will be no recourse for down the road complaints.

rancrdk- As I read through these Posts & others, it is becoming very clear to me that there ARE adequate numbers of "what will we call them" doing these 1004P -type services
for FEEs much less than what I would call "acceptable" FOR operating a business. Including the inspection or the form parts, no matter.
Once again, " setting this LOW Fee Range Offering as Standard or Typical " = we hang ourselves by those who won't hold out & request fees
that would cover the OFFSET of lack of FULL FEE work.

I was trying to convey same in my it is not an hourly rate thread. If appraisers fall for the $50 fee from a client-as $50 is an okay hourly rate"- that appraiser is an IDIOT. These clients are not providing 8 hours a day volume , rather a scattering of orders with fast turn times that disrupt other work. ( fees seem not for 1004P, rather for desktop hybrids //reviews, but 1004 P will see same problems )

We can't say what a fee "should be" ...try double what is offered when it is a low fee - It has to be worthwhile to stay in business .

There is fear present- appraiser fear if we don't work cheap they will use an AVM- if a client orders an appraisal, they have already vetted the property or loan and need an appraisal and can' use an AVM.
Staff appraisers share blame for the exploitation of appraisers by clients who think appraiser are chumps- it starts at the staff level because many staff appraisers accept low base salaries that makes them pump out volume for meager bonus per order, instead of insisting on a professional level base salary.

 

[Eli]

As reported here and elsewhere via offering exhibits I would say that there is evidence pointing to collusion and possible price fixing. The coincidence that these requests for service fees are the about same...is no coincidence

Make no mistake - the paultry fees offered/tested (and if accepted) will fast become standardized and written in stone as customery and reasonable.

Without a pushback now There will be no recourse for down the road complaints.

Yep. It will be easy for the CFPB and FTC to find based on HUD-1 settlement statements and the users (like who ordered it? what was the price?)

 

[Eli]

One of the biggest clues on antitrust violations is market power on price due to market structure. Now, we have the CFPB too. Not just the FTC.

 

[Evincere]

Summary. Test the waters. For pushback. Start with an Offer of $45 - $50 (suggesting fee represents an hourly rate will SURELY make acceptance attractive) and see how many idiot Appraisers hop on board and accept.

 

[ramrcdk]

rancrdk- As I read through these Posts & others, it is becoming very clear to me that there ARE adequate numbers of "what will we call them" doing these 1004P -type services
for FEEs much less than what I would call "acceptable" FOR operating a business. Including the inspection or the form parts, no matter.
Once again, " setting this LOW Fee Range Offering as Standard or Typical " = we hang ourselves by those who won't hold out & request fees
that would cover the OFFSET of lack of FULL FEE work.

I was trying to convey same in my it is not an hourly rate thread. If appraisers fall for the $50 fee from a client-as $50 is an okay hourly rate"- that appraiser is an IDIOT. These clients are not providing 8 hours a day volume , rather a scattering of orders with fast turn times that disrupt other work. ( fees seem not for 1004P, rather for desktop hybrids //reviews, but 1004 P will see same problems )

We can't say what a fee "should be" ...try double what is offered when it is a low fee - It has to be worthwhile to stay in business .

There is fear present- appraiser fear if we don't work cheap they will use an AVM- if a client orders an appraisal, they have already vetted the property or loan and need an appraisal and can' use an AVM.
Staff appraisers share blame for the exploitation of appraisers by clients who think appraiser are chumps- it starts at the staff level because many staff appraisers accept low base salaries that makes them pump out volume for meager bonus per order, instead of insisting on a professional level base salary.

Yes J Grant and a fine JOB!
Me as well: many threads, letters, over & over, from months-years ago.
Don't ya' think the AMCs have alaugh when they just make ONE more call and the Fee has dropped exponentially.
I have kept a list from an AMC excell' page, likely an accidental attachment & How they rate US appraisers per their Rep' in each State.
"Competitive" is that GOOD or is that Bad...for US or THEM.
Every other successful business SETS similar- same hourly rate fee ranges or cost for services...BUT not US!!!

 

[djd09]

It is hard to believe there was an Appraiser Shortage with those fees. No more whining about fake shortages anymore. What a bunch of scum bags.

 

[ramrcdk]

In a RE CE class the other day and word "appraisal" came up. I am known...outted, so I was ask " what to ddooo with these "drive-byes".
Response: FIND OUT what the lender ordered and quit (first to) blaming the appraiser when you have issues. Also: using word "appraisal" ...well
it is NOT by the newest definition, so stop using that WORD as a catch-all term. Check out: Hybrids & Waivers and such. Check out what is IN the works for lending! Test Mode, but moving along as a Fact: Currently, there are loans where any one can do the inspection side with "no license", no CE, no liability. Even, no reported paper-trail is required as to : WHO did the inspection.
Get your buyer to request a FULL APPRAISAL ! I know, I know but I am trying all angles for the "protection" of the public. Considering...WE are public, also!
Funny...not, even the instructor had NO clue!

 

[Tawfik Ahdab]

The acceptance or rejection of these types of "appraisal products" begins and ends with us.

This is the best thing I read on Appraisalbuzz

https://www.appraisalbuzz.com/hybrids-appraisal-name/

 

[Evincere]

The acceptance or rejection of these types of "appraisal products" begins and ends with us.

This is the best thing I read on Appraisalbuzz

https://www.appraisalbuzz.com/hybrids-appraisal-name/

And The article was authored by a trial Attorney - he writes -

“. But while that question is being settled in the marketplace, the participants must be acutely aware of areas where risk and liability may creep into the discussion.

One thing you can count on, the lawyers (state board prosecutors, plaintiffs’ lawyers, defense attorneys, and claims counsel) are surely watching”.

Craig Capilla is a trial lawyer with the Franklin Law Group focusing on civil litigation and administrative law. As a former prosecutor for the Illinois Department of Financial and Professional Regulation, Craig frequently represents licensed professionals in state licensing matters involving real estate brokers, real estate appraisers, and home inspectors, among others. For more information, you can visit www.charlesfranklinlaw.com or directly contact Craig by email at ccapilla@charlesfranklinlaw.com.

 

[Lumbappr13]

Curious, you measure the property & do an "inspection", provide photos for an average of $83 / per ??? You drive your car, wear & tear & mileage, gas,
insurance, taxes for $83 ???
From Order Acceptance to Delivery OR better said: what this the requested turn time ?

From Order Acceptance to Delivery.

Drive maybe 15 to 20 minutes away(yesterday 2 within 5 minutes).
Photograph and Measure(30 minutes on average). Everything is done on site from a mobile app.
Sketch it at home(5 minutes).
Done.

$75/$90 for an hour of work some even less depending on distance, home size, etc. Jumping onto the inspection side before it fills up. I love this part of the appraisal. Plus limited liability because I know how to measure correctly and answer questions.