After The Shake-Out --- Raising Fees

[liberated]

I will get by, I will survive.

http://www.youtube.com/watch?v=5NEE8oURdM0&feature=related

Touch of Gray. My theme song lately.

Great song! Thank you for the link.

 

[Alison Swain]

I see mortgage officers making some bank on deals that we make $350 on. Realtors clean house as well. Some kind of increase is needed. Appraisals take time and evern more mental energy. Thats all Ive got to say about that.

Over on BO a few days ago there was another comp check battle going on. Appraisers were being dissed left and right and finally one of the MB's came right out and said it, "If appraisers are so valuable to the transaction, why do they make so little for their fee?"

You know what, there's a lot of truth in that question. That's how they look at us and who can blame them? Given the training, continuing education, licensing, liability, expenses.....why are we working for 1/20 of what the real estate agent is making?

 

[The Warrior Monk]

You know what, there's a lot of truth in that question. That's how they look at us and who can blame them? Given the training, continuing education, licensing, liability, expenses.....why are we working for 1/20 of what the real estate agent is making?

Part of pricing is risk. RE Agents may go for months, or even a year or more, without making a dime, while expenses do not go away. They'll advertise a property without any guarantee of ever selling it. Larger firms have desk fees. The higher the risk, the higher the return.

Appraisers work for a guaranteed fee per assignment.

 

[josephdifranco]

Sorry I'm always so negative, but in light of the hvcc which word has it tips tons of business toward AMC's, residential fees will be sliding slowly downward like they have been over the 14 years I was in it. We just had a post where a VP of an AMC said basically he knows about the rising cost of gas, but that appraisers should submit lower bids.

You won't see lender fees going up. It bites, I really liked residential, minus the pressure and declining fees, it was fun.

 

[William K]

Part of pricing is risk. RE Agents may go for months, or even a year or more, without making a dime, while expenses do not go away. They'll advertise a property without any guarantee of ever selling it. Larger firms have desk fees. The higher the risk, the higher the return.

Appraisers work for a guaranteed fee per assignment.

My BOLD


At least , I was told it was supposed to work that way!

 

[rcsone]

........new world coming......Cuomo-gone 'o..........HVacked itself.........new granderest official for GSE's.........F HA-Ha on arise..........difference tween cert and other labels/libels?.........blacklists being written in different color due to inking shortages....minority rules vs. golden?...(not)........FBI still of bite or bit........independent, complaining appraisers only survive because lenders have no choice and we get paid for the same reason........AVMs repeatedly demonstrate ill numbers from comfirming REO data----------automatic virtue manipulations?.....AMCs vs. national rotation?-----coming or unbecoming?.......does poor appraiser = poor appraisal?-----increase fees by coin toss or raffle, like the current system?.......know not, but it will be known.............best to all..............rs

 

[c w d]

........new world coming......Cuomo-gone 'o..........HVacked itself.........new granderest official for GSE's.........F HA-Ha on arise..........difference tween cert and other labels/libels?.........blacklists being written in different color due to inking shortages....minority rules vs. golden?...(not)........FBI still of bite or bit........independent, complaining appraisers only survive because lenders have no choice and we get paid for the same reason........AVMs repeatedly demonstrate ill numbers from comfirming REO data----------automatic virtue manipulations?.....AMCs vs. national rotation?-----coming or unbecoming?.......does poor appraiser = poor appraisal?-----increase fees by coin toss or raffle, like the current system?.......know not, but it will be known.............best to all..............rs
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:new_all_coholic:

 

[john snyder]

Best post so far was upgrade your education, and your license.

Most of our current problems started years ago due to ease of passing the inital license tests. The lenders did not want to be held up by appraisals so increase the number of appraisers and - well you see what happened. My guess is 3-5 years to adjust number of residential appraisers.

At least the form fillers are so busy they cannot upgrade. Where would they find the time?

Keeps them from polluting other types of appraisal work ie-property tax appeals, litigation incl. estate/probate, divorce, taxes, asset management, condemnation, commercial and industrial assignments, going concern/business work , rent studies, etc. etc.

Commercial appraising assignments may/are affected as the banks have limited to no liquidity.

"Keep interest in your career, however humble:it is a real possession in the changing fortunes of time" - Desiderata.

jbs

 

[rcsone]

.......to a suggested repeat from earlier of or in the post--------current economic malady is the result of fraud committed on a worldly basis to "share" our over-spent illiness on energy and other imports through participations in CDOs, DIVs, BSed, and ETCs to lessen our balance of trade deficit effect and prevent default CRAP by our "paper" exchanged for these purchases.........we still have the most guns and lawyers, so the others cannot come and collect.........we had to make this game appear legitimate by our "sacrifices", like the Bearded Sterned.........same act of the earlier S & L gambit with assets to be recovered at the low cost by the "few" and the losses passed to the public and innocent investors' pockets........we have probably sold the same mortgage backed security several times in different languages...........two fellows were walking down the street and one asked the other about the raffle he arranged on a race horse he owned.........and it was related that one had sold two hundred tickets at $50.......next he was asked, "if was true that the horse died before the drawing?". To which was replied, "yes". Then the owner was asked, "What happened?". He replied, "The one that won complained and I gave him his money back.....". . . . . . . . . .best to all............rs

 

[demcpeake]

Over on BO a few days ago there was another comp check battle going on. Appraisers were being dissed left and right and finally one of the MB's came right out and said it, "If appraisers are so valuable to the transaction, why do they make so little for their fee?"

You know what, there's a lot of truth in that question. That's how they look at us and who can blame them? Given the training, continuing education, licensing, liability, expenses.....why are we working for 1/20 of what the real estate agent is making?

How many houses did that real estate agent show before he/she finally sold one. I'm running on about 1 out of 20. Appraising is consistent and inconsistent at the same time.