More AMC and PDC Bull

[Joe Flacco]

$10 would be $160 for a tank of gas. If you are high volume and go through two tanks of gas, that is $1,400 per month just for gas.

 

[Surf Cat]

$10 would be $160 for a tank of gas. If you are high volume and go through two tanks of gas, that is $1,400 per month just for gas.

Dear valued vendor,

We feel that riding your bike would be a good option here!

Best regards,

Slipshod AMC

 

[George Hatch]

wishful thinking because too many appraisers are wimps - or at least those caving to low AMC fees are.

Appraisals think they have no means of fighting back , but they do -

This brings up an interesting point. The number of appraisers willing to work at these fees is apparently enough to meet the demand at those fees The clients don't need everyone to agree, they only need a certain number of appraisers. Those who decline will just be invisible to these clients.

These lenders and their AMCs have enough alternatives that don't currently need to make any compromises. That's what makes any talk about "fighting back" a pipe dream.

Your suggestion of a GSE-mandated minimum fee could work, although it might cut into their market share.

 

[J Grant]

This brings up an interesting point. The number of appraisers willing to work at these fees is apparently enough to meet the demand at those fees The clients don't need everyone to agree, they only need a certain number of appraisers. Those who won't will be invisible to these clients.

These lenders and their AMCs have enough alternatives that don't currently need to make any compromises. That's what makes any talk about "fighting back" a pipe dream.

Your suggestion of a GSE-mandated minimum fee could work, although it might cut into their market share.

Luckily, I am not stuck doing AMC work and agree that fighting back for those appraisers that are stuck in it might be a pipe dream - will see what unfolds in the future. Stranger things have happened with regard to an unknown element that can come along to instigate change.

 

[George Hatch]

If volumes doubled or tripled then that would be of effect on fees. Fernando could go back to selling whatever it is he sells for $1000 fees and 8 week turn times.

I'd be just as happy as anyone else to see your fees improve.

 

[Joe Flacco]

I'm still averaging around $1000 but volume is way down.

Outside of AMCs, fees don't go up and down based on supply and demand.

 

[glenn walker]

Buy a Tesla or Hybrid and the gas problems over. In my area most appraisers are driving them already so not a big deal.

 

[sputnam]

can still put it out there. Appraisers should charge $ for a fee bid, just as an AMC charges to use a portal. Reference is regular AMC lender orders, not complex orders or commercial work.
That would clean up the auction-style fee bid pretty fast.

Appraisers can charge for bids. They won't get paid for them.

 

[J Grant]

Appraisers can charge for bids. They won't get paid for them.

The best thing is get rid of the stupid fee split system and eliminate bidding.

The idea of appraisers charging for bids makes sense but most appraisers would be too scared to try it. However, they could try it and put the AMC;s on the back foot for a change. Charge $10 -$25 per bid, payable by credit card. ( as the AMC makes the appraiser pay a portal charge of $10-$25 to submit an appraisal report. )

If an appraiser wins the bid and gets the order, they can deduct the bid charge from the fee.

I put it out there more as a hypothetical - it costs the appraiser time to research a property and respond to a fee bid request - and their own bid is used against them by the AMC to find a cheaper appraiser. Thus, the bids have value to the AMC, yet they are getting them for free.

 

[DTB]

What are we going to do if we get $10-$15 per gallon gas?

That's going to be tough for the low fee and high volume model.

One needs some oil futures to hedge their position.