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AMC fee quote trick.

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joe lee

Thread Starter
Sophomore Member
Joined
Jul 18, 2006
Professional Status
Licensed Appraiser
State
Indiana
Here is a little trick I use on the AMC's. On a normal day I get several calls from them asking me for my "fee and turn-time" on a URAR. I always felt uncomfertable trying to "guess" what fee they wanted and I didnt want to give away work but didnt want to lose the order given the slow times. One day a women called and asked "fee and turn time" and I simply asked her what the most she could pay me. She laughed and said , "that makes sense" and said $375.00. This is from the same company who I said $250 the week before in fear of lossing the order. "$375 is perfect" I said and she said the order would be right over. A different person called later that day from a different AMC and the same thing happened. He gave me the job for $300 instead of the typical $200. I have been doing this ever since and have really learned from it. The people that are calling 9 times out of 10 have a high end fee they can meet but cannot exceed. Instead of throwing some ridiculous fee at them, stop, take a breath, smile and ask them "what is the highest fee you can pay me?"
It works..
 

Workbox

Elite Member
Joined
Mar 2, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
Done it before. It usually means that the typical sweat shop is too busy with the 200 per month orders.
 

KD247

Senior Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Good lesson, and it works both ways.

A good friend once told me that it only takes an extra two seconds to ask, "What's your best price?"

Over the years I've been amazed at the variety of places that seem almost eager to give a discount to anyone who just bothers asking.
 

Durano Joe

Junior Member
Joined
Sep 4, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
If the price they quote is still too low, I usually sputter and cough and then ask them what is the HIGHEST they ever paid for a similar assignment.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Silly me, I ask where the subject is located. I'll give you asking
the highest price they'll pay isn't a bad idea. My base fee is
$500 and it goes up very easily for distant or 'more complex.'

In todays jumpy interest rate environment, turn is probably more
important than fee. Bidding is an art, you listen, they give you
hints, you bid so you try not to leave money on the table. I
hate bidding low and getting the assignment, I become disappointed
with myself. I like them to say, "Great turn time, I'll have to get
it approved with my supervisor, then we'll send it over."
 

Durano Joe

Junior Member
Joined
Sep 4, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Elliott,
Doesn't that line about getting it approved mean: I am going to continue shopping and I'll get back to you if you are the lowest price. ??
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Bruce,
Most of the time I get it. Small market. You have to adapt.
I got one today at $550, I said week or less, the response was
the other appraiser was two weeks out---probably has too
many of those $275 assignments.
 

Hal Mann

Senior Member
Joined
Jan 19, 2005
Professional Status
Certified General Appraiser
State
New York
Thanks, Joe

Here is a little trick I use on the AMC's. On a normal day I get several calls from them asking me for my "fee and turn-time" on a URAR. I always felt uncomfertable trying to "guess" what fee they wanted and I didnt want to give away work but didnt want to lose the order given the slow times. One day a women called and asked "fee and turn time" and I simply asked her what the most she could pay me. She laughed and said , "that makes sense" and said $375.00. This is from the same company who I said $250 the week before in fear of lossing the order. "$375 is perfect" I said and she said the order would be right over. A different person called later that day from a different AMC and the same thing happened. He gave me the job for $300 instead of the typical $200. I have been doing this ever since and have really learned from it. The people that are calling 9 times out of 10 have a high end fee they can meet but cannot exceed. Instead of throwing some ridiculous fee at them, stop, take a breath, smile and ask them "what is the highest fee you can pay me?"
It works..
This is such a useful piece of business advice that it should be a sticky!
 
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