Getting work from AMCs

[Surf Cat]

I spoke to a seasoned appraiser in my area recently and he said he is doing 20 appraisals a week.

Sounds like a churn and burn chop shop....... Shop takes all appraisals on the cheap, sends runner to "inspect" subject and photo the comps. Next, photos and notes are sent to the report writers, whom then send it to the signer as "did inspect". This is not appraising.

 

[bishopsnet]

I understand its slow right now. I was trying to understand how some appraisers are getting more work. Is it just lack of experience? Do I need to bug the AMCs? Or is it really just boil down to turn time and fee?

 

[Fernando]

In my best days, I couldn't do 20 appraisals a week continuously.
That's like 3 a day.
Best I could do is 2 a day and it "ruined" my health.

 

[bishopsnet]

Sounds like a churn and burn chop shop....... Shop takes all appraisals on the cheap, sends runner to "inspect" subject and photo the comps. Next, photos and notes are sent to the report writers, whom then send it to the signer as "did inspect". This is not appraising.

Yeah this guy said he didn't lower his fees. I call BS. He did say he was signed up to 100 AMCs. Who knows.

 

[bishopsnet]

In my best days, I couldn't do 20 appraisals a week continuously.
That's like 3 a day.
Best I could do is 2 a day and it "ruined" my health.

I know some people are cutting corners. Hiring people to take comp photos and using outsourced companies to do their research. I've ran into other appraisers doing 10-15 a week. Seems shady.

 

[Fernando]

I get these very low fee orders which I decline.
I wondered if there were appraisers out there doing them. I guess there are.

 

[bishopsnet]

I got spoiled with the high appraisal fees few years ago. I'm not doing as much because fees have fallen back.
I have a fellow appraiser younger than me and he's willing to go out further (brings back memories) and more tech savvy and doing many appraisals.
Each appraiser is different.

I've been stubborn to drop my fees lower than $400. Maybe that is the issue.

 

[Tom D]

It won't get better. Look at it like part time work at best.

This profession is dead walking.

 

[bishopsnet]

It won't get better. Look at it like part time work at best.

This profession is dead walking.

What makes you say that? It's just a downturn in the market.

 

[shrubberyvaluation]

What makes you say that? It's just a downturn in the market.

Attacks from many sides. From the Biden administration to big AMCs taking over that are ethically challenged.