GSE Waiver & Data Collection Data

[Mejappz]

Dont forget to subtract the $7.50 "tech fee"

 

[Non Sequitur]

Dont forget to subtract the $7.50 "tech fee"

Yep. But the former appraisers at the GSEs call that the cost of doing business.

 

[Joe Flacco]

In reality, there are a lot of people out there that thinks $75k base plus benefits and up to $135k including bonus is pretty good. Especially fully remote jobs which are becoming less available. There are a lot of people that would take these jobs. Five per day just means the appraisals won't be consistently reliable or good.

 

[Joe Flacco]

They will be picking comps, running an adjustment app like spark, and signing. But it seems like that's what many appraisers are doing these days anyway.

 

[CGinMN]

GSEs have been in an appraisal quality war for as long as I've been around. Frankly, I don't know whether they are winning or losing because I can't tell what side they're on.

 

[Non Sequitur]

In reality, there are a lot of people out there that thinks $75k base plus benefits and up to $135k including bonus is pretty good. Especially fully remote jobs which are becoming less available. There are a lot of people that would take these jobs. Five per day just means the appraisals won't be consistently reliable or good.

I agree, a lot would take the jobs. And if those numbers weren't fantasy there would be no need to advertise and recruit because the staff appraisers making that money would recruit their friends and family. The adds are no different than car dealerships running near constant adds with blue sky numbers, just hooking in the noobs and desperate. Anyway, those AMCs and firms on occasion and usually by accident, do have an appraiser clock those numbers in a high density market when conditions are right. But the majority of staff aren't close and if you hang around Facebook forums, Indeed, Glassdoor, etc. there are plenty former staff who have spilled the beans.

 

[Joe Flacco]

I agree, a lot would take the jobs. And if those numbers weren't fantasy there would be no need to advertise and recruit because the staff appraisers making that money would recruit their friends and family. The adds are no different than car dealerships running near constant adds with blue sky numbers, just hooking in the noobs and desperate. Anyway, those AMCs and firms on occasion and usually by accident, do have an appraiser clock those numbers in a high density market when conditions are right. But the majority of staff aren't close and if you hang around Facebook forums, Indeed, Glassdoor, etc. there are plenty former staff who have spilled the beans.

These jobs are not for existing appraisers like you and me.

I actually discussed this happening a while back that they will have to train new people for this.

 

[Non Sequitur]

These jobs are not for existing appraisers like you and me.

I actually discussed this happening a while back that they will have to train new people for this.

The noobs they are training will be in the $20-30 an hour range. Not a single AMC or firm will pay appraisers that kind of money to sit behind a desk all day. And for perspective, add another 20-30% for employer paid taxes and beenies.

 

[Joe Flacco]

GSEs have been in an appraisal quality war for as long as I've been around. Frankly, I don't know whether they are winning or losing because I can't tell what side they're on.

This is so good.

 

[Joe Flacco]

The noobs they are training will be in the $20-30 an hour range. Not a single AMC or firm will pay appraisers that kind of money to sit behind a desk all day. And for perspective, add another 20-30% for employer paid taxes and beenies.

It's not an hourly job. Read the description.

$75k base + benefits. Minimum 3 per day quota.

$41k bonus if you do 5 per day.
$63k bonus if you do 6 per day.

3 per day x 5 days x 52 weeks = 780 $75,000 / 780 = $96
5 per day x 5 days x 52 weeks = 1300 $116,000 / 1300 = $89
6 per day x 5 days x 52 weeks = 1560 $138,000 / 1560 = $88

So at $90 + benefits, they are targeting about $120 cost per appraisal.


5-6 appraisals per day to us sounds outrageous, but to normal people looking for a job that don't know anything about real estate or appraisal, it probably sounds very doable.