AMC Sign Up/Report Form Pricing

[Tom4value]

Hello Everyone.

I’m a newly licensed Certified Residential appraiser and currently going through the joyous process of signing up with a bunch of AMCs in my state. A lot of them ask me to fill out my pricing for different report and form types during registration.

My question is, does it really matter if I fill that out? We all know we're bidding assignments based on complexity and scope anyway, so it feels a little redundant to set fixed pricing upfront.


Curious how you all handle this and whether it actually makes a difference on the AMC side. Appreciate any input. Thanks.

All AMCs require you to do this and if you don’t, they won’t process your application. Unfortunately, it is the equivalent of a car dealer asking you, “how much do you want to spend”. They are not thinking, “ok, this is what we will pay Scotty”. They are thinking one of two things: 1. “We will pay Scotty the fees WE pay” or 2. “Scotty is asking way too much so we won’t bother with him”. Doesn’t sound fun but that is the game with AMCs.

The other option is to bypass AMCs all together and go after clients on your own who deal with portals or even better, pay you YOUR fees directly. It is not fun and requires a lot more work in getting them compared to getting on an AMC panel but trust me, it is a lot more rewarding.

 

[Bobby Bucks]

All AMCs require you to do this and if you don’t, they won’t process your application. Unfortunately, it is the equivalent of a car dealer asking you, “how much do you want to spend”. They are not thinking, “ok, this is what we will pay Scotty”. They are thinking one of two things: 1. “We will pay Scotty the fees WE pay” or 2. “Scotty is asking way too much so we won’t bother with him”. Doesn’t sound fun but that is the game with AMCs.

The other option is to bypass AMCs all together and go after clients on your own who deal with portals or even better, pay you YOUR fees directly. It is not fun and requires a lot more work in getting them compared to getting on an AMC panel but trust me, it is a lot more rewarding.

That is false. All AMCs do not require this.

 

[Tom4value]

That is false. All AMCs do not require this.

All I have encountered have. If you have seen others, ok.
What did your last sentence mean?

 

[Zoe]

That is false. All AMCs do not require this.

Do they require you quote the lowest fee and you will get work?

 

[Bobby Bucks]

All I have encountered have. If you have seen others, ok.
What did your last sentence mean?

I was stating that all AMCs do not require filling out pricing for different reports and form types like the OP mentioned. I think I’ve filled them out for 3 or 4. Most that I’ve signed up with have a bidding process for each assignment. I have no love for AMCs, but some are better than others. I loathe the ones that try to standardize low ball fees like Servicelink, Clear Cap, et al do.

 

[Bobby Bucks]

Do they require you quote the lowest fee and you will get work?

I think that's the way some of them operate, ie. they try to standardize extremely low fees. Servlink, Class & Clear Cap from what I've read.

 

[Zoe]

I think that's the way some of them operate, ie. they try to standardize extremely low fees. Servlink, Class & Clear Cap from what I've read.

Why?

 

[Zoe]

The original legislation was written for appraisal and appraisal management company fees to be separated on truth in lending disclosures and got changed at last minute.

Why?

 

[Zoe]

Public trust? It don't correlate in my mind.

 

[Zoe]

Lets just do fastest and cheapest. Joan would love me. That dog will bite.

I have sweet goldendoodle. Somebody found miniature golden doodle at airport and adopted it. My wife wanted minature, but a little out of budget.

He is pretty and crazy. My wife picked him out and he is not my dog.

Thousands of people wanted to adopt that golden doodle. They called him jet blue.

I am kidding. He sleeps with us every night. I don't trust him and I do take care of him. He not like weimers I am used to.