AMC Sign Up/Report Form Pricing

[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.

unfortunately fees got commingled at last minute. Money talks.

 

[J Grant]

Sign up for all of them, put down a decent fee that is realistic to attract orders and see if any give you work...

I debated whether to say this but it would be unfair not to - if you are starting out in your carereer or mid career with over a decade earning years left, I would consider not purusing appraisal with a residential license only- it is a path to misery and low earnings for the majority going forward.
It was not always like this but it is now. And I am saying that as a person who does almost no work for AMC''s, but I doubt my business model will survive for more than a handful of years. Go for an asessor job or upgrade to commercial license if you are determined to stick with appraising. The AMC path is brutal and miserable with stips, scrutiny and pressure coupled with low fee and no steady work flow to top it off, combined with the threat of AI and a pattern of reducing the role of appraisers from stakeholders.

Some folks might adapt to being on AMC staff working 60 hour weeks for mediocre income. There are other fields that offer better earnings or at least are rewarding or less stressful if they are lower or mid range in pay. Health care and the trades are in demand now.

 

[Zoe]

Sign up for all of them, put down a decent fee that is realistic to attract orders and see if any give you work...

I debated whether to say this but it would be unfair not to - if you are starting out in your carereer or mid career with over a decade earning years left, I would consider not purusing appraisal with a residential license only- it is a path to misery and low earnings for the majority going forward.
It was not always like this but it is now. And I am saying that as a person who does almost no work for AMC''s, but I doubt my business model will survive for more than a handful of years. Go for an asessor job or upgrade to commercial license if you are determined to stick with appraising. The AMC path is brutal and miserable with stips, scrutiny and pressure coupled with low fee and no steady work flow to top it off, combined with the threat of AI and a pattern of reducing the role of appraisers from stakeholders.

Some folks might adapt to being on AMC staff working 60 hour weeks for mediocre income. There are other fields that offer better earnings or at least are rewarding or less stressful if they are lower or mid range in pay. Health care and the trades are in demand now.

It depends girl. Some residential assignments are way more complex than any commercial assignment I have done.

Commingling of fees on single family needs abolished.

 

[Zoe]

Truth in lending disclosures.................AMC $X. Appraisal fee $X.

It would solve problem. No more fastest and cheapest to public trust.No more incentive for fastest and cheapest on commingling of fees.

Joan, my baby, where are you darling?

 

[Zoe]

Trust me if fees were separated on truth in lending disclosures to borrowers, the whole market structure would change. I majored in marketing.

I don't need some politician telling me different.

I don't care what Joan says or GSE or anybody. I majored in marketing.

 

[Zoe]

If appraisal management company and appraisal fees were separated on truth in lending disclosures , it would change the whole market structure.

I did'nt mention I am very familiar by setting up loan review program at bank that needed no bailout.

I knew the loan officers well I reported chainman of board. I knew all the board members. I had to talk to FDIC.

One was state senator I was hoping he would run for governor but secretary of state wouldn't run either.

One was democrat. One served as secretary of state under both democrat and republican.

My boss as senator just didn't have the charm his world war 2 dad had that hired me.

 

[Zoe]

Don't ask me if loan officers got upset with me reporting to FDIC. I would be like let's have coffee in morning

You understand I report to chairman of board.

I have no idea how big their capital account is now., My old boss's son is mayor their now. It's big.

Millions and millions. No telling how much real property they own.

 

[Tom4value]

I was stating that all AMCs do not require filling out pricing for different reports and form types like the OP mentioned. I think I’ve filled them out for 3 or 4. Most that I’ve signed up with have a bidding process for each assignment. I have no love for AMCs, but some are better than others. I loathe the ones that try to standardize low ball fees like Servicelink, Clear Cap, et al do.

I meant the last sentence but now I see it is in all of your posts so never mind.

Yeah, that was what I was trying to instill on the original poster. AMCs ask for your fees in the application but it means nothing. They will either ask for your best (read:lowest) fee or just tell you what they will pay you.