AMC Sign Up/Report Form Pricing

[ScottyBrajj]

Hello Everyone.

I’m a newly licensed Certified Residential appraiser and currently going through the joyous process of signing up with a bunch of AMCs in my state. A lot of them ask me to fill out my pricing for different report and form types during registration.

My question is, does it really matter if I fill that out? We all know we're bidding assignments based on complexity and scope anyway, so it feels a little redundant to set fixed pricing upfront.


Curious how you all handle this and whether it actually makes a difference on the AMC side. Appreciate any input. Thanks.

 

[DWiley]

Hello Everyone.

I’m a newly licensed Certified Residential appraiser and currently going through the joyous process of signing up with a bunch of AMCs in my state. A lot of them ask me to fill out my pricing for different report and form types during registration.

My question is, does it really matter if I fill that out? We all know we're bidding assignments based on complexity and scope anyway, so it feels a little redundant to set fixed pricing upfront.


Curious how you all handle this and whether it actually makes a difference on the AMC side. Appreciate any input. Thanks.

When I worked in AMCland, we asked appraisers to provide their fee for "normal" assignments, and that was the fee that was paid. Bidding was only for complex assignments. Different companies operate differently.

 

[Zoe]

The market structure of AMC land is illegal due to commingling of fees that Congress approved.

If you want to get overloaded with assignments, bid the fastest and cheapest and you will get the job. The Lender may charge the borrower $1,200 for the appraisal and if you bid $200 and good turn time, you will get more work than you can do.

 

[Surf Cat]

Make it easy on yourself and just go to the VA and get the fee panel from there.

You're not going to get it anyways....

 

[Zoe]

Hello Everyone.

I’m a newly licensed Certified Residential appraiser and currently going through the joyous process of signing up with a bunch of AMCs in my state. A lot of them ask me to fill out my pricing for different report and form types during registration.

My question is, does it really matter if I fill that out? We all know we're bidding assignments based on complexity and scope anyway, so it feels a little redundant to set fixed pricing upfront.


Curious how you all handle this and whether it actually makes a difference on the AMC side. Appreciate any input. Thanks.

Hi, nice to meet you.

Okay, so you just started searching for AMCs and they sent you some forms to fill out? Am I on the right track?

I have more questions on your practice. I just got started.

 

[Zoe]

Make it easy on yourself and just go to the VA and get the fee panel from there.

You're not going to get it anyways....

Many on this forum have been on VA didn't like it or got fired. They either quit VA panel or got fired.

I am not sure with this appraiser on what their best options are. I am clueless on their market they work. I don't know if they specialize. I have limited advice. I like VA panel for more reasons than one. I could make more money doing other things but I like the VA panel. Many veterans get a bargain on appraisal fee from me.

Many assignments I have taken where I would have charged more from an AMC or conventional direct engagement from a lender.

I have got to meet some great veterans and help them in their journey with VA and lender.

Literally, I have done VA assignments for half or more I would have charged an AMC or direct engagement lender.

Our fee locally is $650 unless negotiated with lender and veteran. I would have charged $1,500 to $2,000 for same assignment with AMC or direct engagement lender sometimes.

 

[Surf Cat]

Hi, nice to meet you.

Okay, so you just started searching for AMCs and they sent you some forms to fill out? Am I on the right track?

I have more questions on your practice. I just got started.

Stop right there Zoe..... the op doesn't need 10 posts in a row from you to give them your opinion.

 

[KHS445]

Don’t avoid contacting attorneys, CPA’s, local banks, etc. also talk with area agents and brokers about helping with listing prices or providing a report for cash buyers. AaMC’s are not your friend and their is a lot of non AMC work out there if you avail yourself to it.

 

[Zoe]

Make note with AMC, borrower may be getting charged $1,500 and appraiser paid $225.

 

[Zoe]

Stop right there Zoe..... the op doesn't need 10 posts in a row from you to give them your opinion.

I haven't even formed an opinion yet.........................