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AMC's, Please reduce my fees further

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Mile High Trout

Elite Member
Joined
Feb 13, 2008
Professional Status
Certified Residential Appraiser
State
Colorado
Attenion AMC's.

I think I made more than a fast food worker last month. It's probably time to call around the appraiser panel lists, and trick a skippy into working for less. So that you can in turn, pressure me to provide much better work, for even less cost than before.

AMC's are selling someone elses product at record lows, then splitting that figure! Could this please be a thread with some other outrageous low fees offered to professional appraisers by greedy, unregulated AMC's.

My personal favorite low fee offenders of 2008 are Landmark Appraisal Group (starting at 50% or less!, and they have a questionairre, that asks "how do you feel about reduced appraisal fees", they want filled out, before they even begin a dialoge with you), & LandAM ("we've got appraisers completing full 1004s for $100-$125"), Clear Capitol is competing for lowest fees, they sent me a mixed / changing to development use 140 acre 1900 specially taxed rural request as a drive by for $125.

You know they are tricksters, and constantly trick appraisers into taking lower fees. Statistically, AMC's send the majority of work, to an extreme minority of the panel appraisers. They should be required to spread it around, and pricing like this will not happen. I'm also calling for full fee disclosure to homeowners. You skippies know that they are still charging full fees in many cases for the work you get stiffed for?

If you take a fee cut, won't the other appraiser loose volume, and likely cut again? Can that be considered reliable business? I don't think so.

Skippies: Please reduce your appraisal fees further, your primary AMC will back you, I promise.

:new_2gunsfiring_v1:Get Bent!!!!!
 

Tudor

Member
Joined
Aug 15, 2006
Professional Status
Certified Residential Appraiser
State
Arizona
Attenion AMC's.

I think I made more than a fast food worker last month. It's probably time to call around the appraiser panel lists, and trick a skippy into working for less. So that you can in turn, pressure me to provide much better work, for even less cost than before.

AMC's are selling someone elses product at record lows, then splitting that figure! Could this please be a thread with some other outrageous low fees offered to professional appraisers by greedy, unregulated AMC's.

My personal favorite low fee offenders of 2008 are Landmark Appraisal Group (starting at 50% or less!, and they have a questionairre, that asks "how do you feel about reduced appraisal fees", they want filled out, before they even begin a dialoge with you), & LandAM ("we've got appraisers completing full 1004s for $100-$125"), Clear Capitol is competing for lowest fees, they sent me a mixed / changing to development use 140 acre 1900 specially taxed rural request as a drive by for $125.

You know they are tricksters, and constantly trick appraisers into taking lower fees. Statistically, AMC's send the majority of work, to an extreme minority of the panel appraisers. They should be required to spread it around, and pricing like this will not happen. I'm also calling for full fee disclosure to homeowners. You skippies know that they are still charging full fees in many cases for the work you get stiffed for?

If you take a fee cut, won't the other appraiser loose volume, and likely cut again? Can that be considered reliable business? I don't think so.

Skippies: Please reduce your appraisal fees further, your primary AMC will back you, I promise.

:new_2gunsfiring_v1:Get Bent!!!!!

my bold

They also do "comp. checks" it is the only way to compete they say.
 

Greenback

Senior Member
Joined
Apr 20, 2007
Professional Status
Appraiser Trainee
State
Louisiana
All AMC's are nothing but two bit hustlers...
(period)

Sincerely,
 

Mile High Trout

Elite Member
Joined
Feb 13, 2008
Professional Status
Certified Residential Appraiser
State
Colorado
Absolutes are for the Sith.

I'm not making such extreme blanket statements here Greenback.

Everyone told me, that doing the right thing is best, and honesty will be rewarded. Well take it from me, if you don't "Play ball", you don't get work. I've got almost 2 boxes of workfiles, after 1.5 years!!! It's pathetic.

Makes me wonder how many Colorado appraisers are still hitting the values, that I am completely out of the loop, because I'm a conservative appraiser.

Appraisers are not supposed to show advocacy, but I sure as he ll have more respect for the homeowners, than the people who put them into these dangerous loans in the first place.

A strong track record, of not hitting values has somehow caused for me to have a bad reputation. I'm the honest appraiser, who completes reports thoroughly, with attention to detail, full disclosure, actually calls real estate people, etc... Why is it I'm the brokest appraiser still hanging on in Colorado? These companies were supposed to have taken losses, that would be thier lesson, to use me instead of the guy who overvalues. Why are the companies not learning their lesson? Why are AMC's being handed the keys to my future? Is it an unreasonable expectation to get an order a week? Following the idealistic methods of educators, and taking unbiased issues seriously has severely hurt my business as an appraiser.

Working with AMC's has been a total waste of time, they don't want quality work, they only seem to care for faster and cheaper. Everyone has something to say on the matters at hand. But if honesty and integrity were actually held in high esteem, in real life practice, I would not be posting losses, and continually seeking work. AMC's make me feel like an immigrant worker. They should have to go through the ringer to be an AMC, just like I did to be an appraiser.

Everyone has thier hand in the pie, and the industry in general has lost sight of the core issues involved with their businesses. That's the American dream of owning a home. Every citizen has the right & should be afforded the opportunity to own a home, in one way or another. The concept of homeownership being way up there, is hooey. My grandparents paid off their homes they still live in, in 5-10 years, with average labor jobs. When big companies chop the block to "stay competetive", you should quit them. Staying competetive means having a strong community, It's not about the business, the CEO, or any of that new doublespeak, it's about the masses, and the people, the average joe, the backbones of our society. Corporations are just too topheavy. These banks posted record figures, and did not share the wealth. When they post record losses, why is it that people are so acceptant of helping them out, and reducing those losses? Before I give one more inch for the bank, I want to see people stop loosing thier homes, and find affordable living situations.

"I'm turning Japanese, I think I'm turning Japanese, I really think so, ......"

United we stand, divided we fall.

Life, Liberty & PROPERTY!
 

Chelley Bahner

Sophomore Member
Joined
Sep 26, 2006
Professional Status
Licensed Appraiser
State
Colorado
Supply currently exceeds demand. You can't really blame AMC's for taking advantage of this.
 

c w d

Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
They were taking advantage long before the supply and demand imbalance.
 

Mile High Trout

Elite Member
Joined
Feb 13, 2008
Professional Status
Certified Residential Appraiser
State
Colorado
That's dangerous thinking Chelly.

So by that thinking, is it o.k. if we underpay & take advantage of immigrant workers, just because there are more of them then we need. What about suddenly paying all construction workers 1/2 pay or less, because we have half the demand for homes now? Should farmers not get subsidies, and go out of business, on years when supply & demand are imbalanced? What about jobs in general, relating to younger workers. Do you feel comftorable having your job replaced by a younger worker at half pay, just because they were available. Established workers should maintain respect, and the oversupply, simply does not work, and supply finds balance again. FORCED blanket fee reductions across the board is not sensible. By your own words it's "Taking Advantage".

That's dangerous thinking Chelly, in my opinion of course. The act of taking advatage of another, should always be a matter of concern. IF there are too many, then of course, some balances must be met. But blanket sweeps of 70% pay reductions? Are you familliar with the way unions work, It sounds like you don't support union mentallity. This quote is not exactly relevant, but it came to mind, and I love to post quotes! I think it deals with similar estrangement & misunderstanding issues.

First they came for the Socialists, and I did not speak out - because I was not a Socialist.
Then they came for the Trade Unionists, and I did not speak out - because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out - because I was not a Jew.
Then they came for me - and there was no one left to speak for me.
:new_2gunsfiring_v1:
 

Couch Potato

Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
I have a way to end the imbalance and restore order to fees. Lets just have every appraiser that got their license in the past five years be suspended form doing business. That will ease the supply and demand problem causing fees to rise.
 

Roy Courtney

Senior Member
Joined
Dec 8, 2006
Professional Status
Certified General Appraiser
State
Texas
Hey Couch, why stop at five years? Let's go back say 10, 20, 30. There would still be a lot of us here doing appraisals. Maybe we should just require EVERYONE to have a general certification! We could borrow or pay the Institute to use the comprehensive exam used for the MAI and require that you pass this test to be an appraiser. I am all for that! Either you are an appraiser or you are not! The end of the story and the end of people working for chump change for AMCs, etc. After all a lawyer may not practice criminal law but he/she is qualified to do it. That example goes for other professions too!
 

Chelley Bahner

Sophomore Member
Joined
Sep 26, 2006
Professional Status
Licensed Appraiser
State
Colorado
I have a way to end the imbalance and restore order to fees. Lets just have every appraiser that got their license in the past five years be suspended form doing business. That will ease the supply and demand problem causing fees to rise.

...or just make some of the old-timers retire already... Either way, I'm not worried about it. Supply and demand always seem to balance themselves out in the end.
 
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