Anyone Considering a Fee Increase?

[Lawrence R.]

My fees have been moving on up like the Jeffersons, Baby!!

Yeah, I am at no less than 350 for anything I do. I have been getting more complex stuff, but that is OK, it is still the same procedure to cash the check. I find I am making about 10 percent more money on about 25% less work.

The clients like the fact that I will take the harder stuff, and they send me some easy stuff to help offset that...they don't want the guy doing the hard stuff to quit doing it. So my fees have gone up incrementally on the easy stuff, too.

When a client is paying 450 for a 1004 in a tough area, 350-375 for a cookie cutter is a deal.

I would suggest that everyone re-visit their fee structure. If for no other reason than it is expected right now.

 

[xmtpedprl]

"The Vortex of Doom" continues.

As with the banks demolishing themselves and their portfolios by selling their inventory at ridiculously low prices, it may be that more & more appraisers are going to become extinct by virtue of not being able to even remotely keep up with inflation.

Man, this job just ain't easy.

Thank you so far for all your responses.

Dave...

 

[Kevin Little]

My fees have been moving on up like the Jeffersons, Baby!!

Yeah, I am at no less than 350 for anything I do. I have been getting more complex stuff, but that is OK, it is still the same procedure to cash the check. I find I am making about 10 percent more money on about 25% less work.

The clients like the fact that I will take the harder stuff, and they send me some easy stuff to help offset that...they don't want the guy doing the hard stuff to quit doing it. So my fees have gone up incrementally on the easy stuff, too.

When a client is paying 450 for a 1004 in a tough area, 350-375 for a cookie cutter is a deal.

I would suggest that everyone re-visit their fee structure. If for no other reason than it is expected right now.

Man, we've always done the tough ones, and never charged any more for them...we raised our fees to 375, but when the economic crash started, work dried up. we're dropping to 325 now, and if it dosn't pick up, we have to find some other line of work...maybe commodities speculation, that's showing quite a profit these days...at everyone else's expense...

 

[Ray Miller]

yep, we are raising our fees to cover the cost of everything else that has gone up and is going up. I think some where between 50 to 100 beaver pelts or two long haired blue eyed blonds across the auction block.

It just not gas that has gone up. Take a hard look at all your cost.

 

[Steve Metz]

I talked to my appraiser friend that went over to the dark side this year. He is doing a lot work with AMC's for $210-$240 a 1004 and crying to me that he was not making any money when he has to fill up his truck at $80 a tank. I had to give him the I told you so speach. I told him he would be better off working for $15.00 an hour as we have been calculating that he is realy only making $11.00/hr doing the cheap 1004's

I am raising my prices $25 to $375 for a 1004. I would rather sit at home than work for nothing.

 

[Roy Courtney]

Now that's NOT fair! If the appraisers increase their fees how can the AMCs continue to make a fortune pimping our services? They deserve more of the appraisal fee than we do because they call us on the phone. They call us to order the appraisal. They call us to check the status. They call us to check the status. They call us to check the status. They call....

 

[Jungle Boy]

I've diversified a little, and don't depend as much on appraisal work as I used to. I'm only working 2 or 3 days a week on appraisals nowadays, sometimes less, sometimes more.

I've been thinking of upping the fee $25 for my regulars. I think that $25 should not be too hard to swallow for a someone who values your work.

I've also stopped answering the phone if it's an out of state call from a non-client. Those calls take up too much time, and don't produce much positive results. If it's important, they can leave a message.

 

[Carnivore]

Just remeber your not making up for just the increased gasoline cost. Your also should be chargeing more for an even greater increase coming up.

Plus, tires, oil, food, clothing, etc etc is ALL going up! If you dont increase then you will eventually be going backwards.

 

[Ray Miller]

I just have a hard time understanding lowing fee's when expenses are increasing to get business.

 

[JRS at OBX]

I haven't raised my prices but I have been requesting plenty of fee increases. So far this week I've quoted and received jobs for $500, $600, $450 and a vacant lot for $350. They were all fairly difficult.