AMC asking for UAD 3.6 fees, what's everyone thinking?

[Tom D]

My plumber made more $ in a couple of hours than 2 working appraisers.

Taking into account inflation from when i started the fee should now be $1,000, then add on the new increase. I would say appraisers have lost 50% of their real income buying power. And your income value will only decline more with less productivity.

 

[Tony Rings]

My plumber made more $ in a couple of hours than 2 working appraisers.

Taking into account inflation from when i started the fee should now be $1,000, then add on the new increase. I would say appraisers have lost 50% of their real income buying power. And your income value will only decline more with less productivity.

Yikes! Why do you think appraisers have settled for lower rates over the years?

And how many reports each week does your average appraiser complete?

 

[norapp]

One AMC sent an email asking me to choose from the selected amounts of how much more I would need for a fee. The top amount was $150.00. This is the crap we will be dealing with this year.

 

[LesPaul59]

Anyone else starting to get emails from AMCs about UAD 3.6? I just got one saying they’re adding 3.6 products and asking us to set fees soon. From what I’m seeing, this looks more complicated and more time consuming than our current 1004/1073/1025 workflow.

In my area (Los Angeles), as I know, typical fees are roughly
1004 / 1073: $350–$600
1025: $550–$800

I’m trying to figure out a fair way to price this without being a lowball bidder or racing to the bottom, especially since it looks like more work and more time. I’m curious how everyone is thinking about pricing for UAD 3.6. Are you planning to bump fees across the board? Treat it like a new product tier? Or just keep it close to current fees at first and adjust later?

I know not everyone will share exact numbers, but I’d love to hear how you’re thinking about it and what strategy you’re leaning toward. This rollout feels like it’s going to change our workload pretty noticeably.

Are you an appraiser?

 

[Dublin ohio]

Why do you think appraisers have settled for lower rates over the years?

Way too many appraisers willing to do a 1004 for low fees have kept fees down. Hard to compete when you have appraisers doing a 1004 for $250-$300

 

[chad hampton]

Appraisers haven't set their fees in years.

 

[J Grant]

I am sooooo glad I don't have to deal with this sh*! Good luck to y'all.

My advice: Don't tell them ANYTHING yet. Make 'em wait - like the braniacs foisting "The UAD 3.6 Abomination" upon you are making you do. You have NO reasonable way of determining what is a reasonable fee UNTIL you have done a couple of these .... THINGS. You are selling your TIME, and are being asked to price it without having a CLUE as to the time the job will require .... You think the "lowballers" are gonna get all the work?

Just how many of these ... THINGS ... do you think the lowballers will be able to do? They're up against the same sh*! you are. You can offer $250 per "Abomination" all you want - and if you get 10 a day, can you satisfy your client? Think about it. Morons lowballing are just shooting themselves in the foot - they absolutely CANNOT "make it up on volume" with "The Abomination".

So - wait til you know the time required, then - bid relative to how much extra work it is, leveraging your 1004 fees UP as required ...

Put some steel in your spines and ... hold fire ... hold fire ... til you "see the whites of their eyes" ...

This is silly advice. Wait and it is too late

Estimate a fee increase and then you can raise or lower it later.

 

[NC Appraising]

Way too many appraisers willing to do a 1004 for low fees have kept fees down. Hard to compete when you have appraisers doing a 1004 for $250-$300

I'm confused?

Are you trying to say that these same appraisers that are knocking them out for $300 are not going to increase their fees to undermine their competitors?

Surely they will. Wink.

 

[George Hatch]

If an AMC is sending out blast emails to ask appraisers to set their fees that's kind of the opposite of them unilaterally dictating terms to those appraisers.

I don't think appraisers have anything to lose by asking for what they want at the outset. But it won't change how the AMCs award their assignments - they're still going to favor the appraisers who are willing to work for whatever passes as the lower end of that range. I think the prevailing fee will establish itself within the first 30 days of this scheme. That's how sensitive to price the market for appraisal services is.

Go for it. If an appraiser initially prices themself out of the competition they can always change their mind later. Sitting around with no work for a couple weeks is going to leave a mark on people.
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It sure strikes me as being a coincidence that this program is coming online during a relative lull in the market.

 

[Bobby Bucks]

This where a little professionalism goes a long way.