Anyone else as slow as I am?

[J Grant]

I received a request a couple days ago from one of my best direct lenders, wanting me to show/prove/say? that I'm prepared to do the 3.6 so they can put together their 'new' roster of appraisers to enable a smooth transition come November. Although my intent is to continue working with them even with the 3.6, until I have experience with it, I can't put a realistic fee on it, and so I'm reluctant to even respond.

Today AlaMode notified me they have more 'training' sessions to sign up for (in 2 2-hour chunks over 2 days). All this seems an utter waste of my time until the software providers produce a usable product. It seems they want us as guinea-pigs to show them where the problems are to be addressed... or am I just being negative?

IMO, at this point, you are sabotaging yourself - if you want to remain in the business even for another year or two. I am in the same boat and resent having to spend the time to learn it- but with the clock ticking down, I will be attending the same two-hour over-two days ALAMODE sessions.

ALAMODE is going all out on training -I'll give them props for that. .

After I take the class and do a sample for my own use UAD 3.6 appraisal, I will be able to determine how much more time-consuming it is vs what I do now and decide if I can give a time estimate to clients..

It seems like it makes sense to give an estimate of when you might be able to recieve 3.6 orders, and deal with the fees when they actually start sending orders. My clients so far are not asking about fees - they are asking when I estimate being ready to receive UAD orders. A few asked if there might be a fee increase and I marked yes but unknown at this time.

Best of luck -!

 

[KHS445]

You are not being negative. All you can do at this point is to tell your clients you are following all the 3.6 updates, working with familiarizing yourself with your software vendors proposed report forms, and taking the available seminars/training being offered regarding the new form. Tell them you plan on completing multiple test reports to get better acquainted with the new forms, but until you have complete 10+ real world reports you just don’t know how much additional time, if any the new reports will require. Finally when it comes to fees I would tell them you are not expecting them to pay you for your full learning curve, but you expect to be paid for any additional time required to complete the 3.6 once you get settled

Fee wise I would consider increasing them $100, with the caveat that you reserve to adjust fees once you have a better grip on the new report.

 

[shrubberyvaluation]

Fee wise I would consider increasing them $100, with the caveat that you reserve to adjust fees once you have a better grip on the new report.

Depends on the scope of work too. If I'm expected to fill out everything or not and the work needed to obtain that information such as measuring all the windows.

 

[Tom4value]

Similar down here. As always, it's your market area #1, then the breadth of your client base (or lack thereof) and finally, your system - i.e. having help with the business part of it, to allow you to actually do more appraising work.

Been doing 10-11 a week down here for the past couple of months. Frankly, it's getting old . During the "COVID Years" as you call them, that might have been a part-time week.

But the properties are uniformly MUCH more difficult on average now - its either an FHA with deferred maintenance or (or course) a home bordering on some big bad externality that must be bracketed, hence much more research time. Plus, there are the additional requirements added on by the GSE's since the "Happy Times" of 2015-2022, like doing time adjustments on every single comp. Not exactly rocket science, but it all adds more time per report.

And the easy-peasy refinances are mostly gone, partly because of the % rate situation, partly due to the AVM/waiver BS. 10 more weeks. Just 10 more weeks and then I'm putting the clip board and the roller and the clunky old camera down - for good.

Been doing FHA for over thirty years years now. No big deal as it trained me to be a better appraiser overall. However, 2 years ago I was called out on a FHA review. Minor stuff but spooked me. All FHA assignments I check, recheck and recheck again. Makes me realize we got to cross our “T”s and dot our “I”s, not just on FHA but all assignments.

 

[Trihard]

Been doing FHA for over thirty years years now. No big deal as it trained me to be a better appraiser overall. However, 2 years ago I was called out on a FHA review. Minor stuff but spooked me. All FHA assignments I check, recheck and recheck again. Makes me realize we got to cross our “T”s and dot our “I”s, not just on FHA but all assignments.

What did they call you out on?

 

[OSU Beavers]

May has been my best month all year.

 

[Vermonter]

May has been my best month all year.

Same. All high fee stuff too. Got enough orders in right now to keep me rolling thru June