AMC complaints and appropriate action

[MTalacko]

Good morning,

Was just curious if anybody is currently completing assignments for Class Valuation (AMC). They do a blast for bid requests and based on the few assignments that I've been awarded, only to have the assignment cancelled within a few moments and a notification that "this assignment was awarded to a different appraiser", I'm forced to believe that they are simply awarding the assignments to the lowest bidder and not the most competent or geographically located appraiser. I do understand that we're in a time where, unfortunately, some appraisers will grossly undercut standard appraiser fees for the work, but is this type of practice by the AMC (which is killing our industry) susceptible to valid complaints to the Bureau of Real Estate Appraisers?

 

[Kitarkus]

While my experience with Class coincides directly with yours....I've never given a moment's consideration as to filing any type of complaint. More often than not I will quote fees that are 25-75% higher than expected primarily in hopes that it will drive up the assigned fee to some appraiser somewhere......and partly due to my own frustration with the bid process. I haven't won a Class Valuation bid in years.

You/I have zero doubts that they are broadcasting to the lowest bidder. Proving such behavior would be difficult if not impossible without a subpoena.

Who is the "Bureau of Real Estate Appraisers"?

Sidenote: It is that time of year again where I will have to update my E&O and licenses with countless AMC's. I honestly cannot remember the last AMC assignment that I completed. It is a test of my fortitude to spend a 1/2 day updating each AMC individually....explaining that I will not pay for another background check....navigating amateurish websites with inadequate user profile interfaces. This year I plan to eliminate some of these AMC's as 'clients'. So long as there are young and hungry wannabe appraisers out there....the AMC's will have no problems finding worker bees. I have not been a good AMC worker bee for some years now.

 

[chad hampton]

Class valuation and others have been doing that for a while now. Complaints are being filed but the large AMCs and Reeva have threatened and bribed most of the appraisal boards to the point where they won’t do anything.

It’s almost like they have no understanding that they are playing games with peoples livelihoods and their ability to house and feed their family. and those decisions come with consequences.

 

[Bob Ipock]

Good morning,

Was just curious if anybody is currently completing assignments for Class Valuation (AMC). They do a blast for bid requests and based on the few assignments that I've been awarded, only to have the assignment cancelled within a few moments and a notification that "this assignment was awarded to a different appraiser", I'm forced to believe that they are simply awarding the assignments to the lowest bidder and not the most competent or geographically located appraiser. I do understand that we're in a time where, unfortunately, some appraisers will grossly undercut standard appraiser fees for the work, but is this type of practice by the AMC (which is killing our industry) susceptible to valid complaints to the Bureau of Real Estate Appraisers?

Go to the BREA site and read the law concerning AMCs. Get the right information instead of opinions.

 

[azbassman21]

Good morning,

Was just curious if anybody is currently completing assignments for Class Valuation (AMC). They do a blast for bid requests and based on the few assignments that I've been awarded, only to have the assignment cancelled within a few moments and a notification that "this assignment was awarded to a different appraiser", I'm forced to believe that they are simply awarding the assignments to the lowest bidder and not the most competent or geographically located appraiser. I do understand that we're in a time where, unfortunately, some appraisers will grossly undercut standard appraiser fees for the work, but is this type of practice by the AMC (which is killing our industry) susceptible to valid complaints to the Bureau of Real Estate Appraisers?

The AMCs aren't killing our industry, it's appraisers killing our industry. Anyone desperate enough to give an extremely low fee and play this game deserves everything they get.

I've gotten bid requests before from them and just to test the system, put a fee of $250 with a 2 day turn time and haven't gotten it. I would have demanded a higher fee or else if I would have received it, but it just goes to show how desperate some appraisers are.

Just stop feeding into this crap. I've only bid a few assignments ever and think I may have gotten 1?

 

[Terrel L. Shields]

The AMCs aren't killing our industry, it's appraisers killing our industry. Anyone desperate enough to give an extremely low fee and play this game deserves everything they get.

Precisely. And all these operate upon the assumption that appraisers are sheep and will submit to any indignity when hungry...and they are right.

They rarely call anymore. How sad. I used to enjoy trolling them for their stock question. "What's your turn time and fee?" My stock reply was that if you had to ask, you couldn't afford me...then I quote a $2,000 retainer....

 

[ucbruin]

Stop ridiculing sheep....

 

[djd09]

Class valuation and others have been doing that for a while now. Complaints are being filed but the large AMCs and Reeva have threatened and bribed most of the appraisal boards to the point where they won’t do anything.

It’s almost like they have no understanding that they are playing games with peoples livelihoods and their ability to house and feed their family. and those decisions come with consequences.

revaa is a virus that the regulators let fester for too long and the only solution would be to cut them off...ask coester

 

[MTalacko]

While my experience with Class coincides directly with yours....I've never given a moment's consideration as to filing any type of complaint. More often than not I will quote fees that are 25-75% higher than expected primarily in hopes that it will drive up the assigned fee to some appraiser somewhere......and partly due to my own frustration with the bid process. I haven't won a Class Valuation bid in years.

You/I have zero doubts that they are broadcasting to the lowest bidder. Proving such behavior would be difficult if not impossible without a subpoena.

Who is the "Bureau of Real Estate Appraisers"?

Sidenote: It is that time of year again where I will have to update my E&O and licenses with countless AMC's. I honestly cannot remember the last AMC assignment that I completed. It is a test of my fortitude to spend a 1/2 day updating each AMC individually....explaining that I will not pay for another background check....navigating amateurish websites with inadequate user profile interfaces. This year I plan to eliminate some of these AMC's as 'clients'. So long as there are young and hungry wannabe appraisers out there....the AMC's will have no problems finding worker bees. I have not been a good AMC worker bee for some years now.

Thank you for your response. And I agree 100% on your outlook on AMC's in general. I do have a couple of them as clients that are extremely dependable and professional but I'm also trying to weed out the ones similar to Class that clearly consider fee alone on assigning orders. As for the "Bureau of Real Estate Appraisers", I actually misspoke...this is the oversight body that regulates AMC's in California only, not nationally. And like you, I probably would never take the time to actually fill out a complaint form...I was just curious of these actions could be taken if there was any type of proof that these AMC's were only fee driven in assigning orders.

 

[MTalacko]

Class valuation and others have been doing that for a while now. Complaints are being filed but the large AMCs and Reeva have threatened and bribed most of the appraisal boards to the point where they won’t do anything.

It’s almost like they have no understanding that they are playing games with peoples livelihoods and their ability to house and feed their family. and those decisions come with consequences.

Thank you for your response. You nailed it. And I do hope that appropriate consequences do come to these companies that hold little to no regard in assigning orders to the most competent appraiser for the job.