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Appraisal Cost

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JERMCLEMOXX

Freshman Member
Joined
Sep 25, 2007
Professional Status
Appraiser Trainee
State
Virginia
Is it unethical to offer appraisals for an amount a bit less than the standard to gain more business? If so, why?
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
No. It is unethical for appraisers to get together to determine what is the "standard fee". That's called price fixing.
 

JRS at OBX

Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
It is not unethical to lower your prices. You do need to realize that you are a professional and charge professional fees. If you start charging really low fees, then you are degrading the profession in general.

You should also realize the cost to do business. If you are only making $10/hour after expenses then you are better off getting another job with less liability. Don't cut corners.
 

JERMCLEMOXX

Freshman Member
Joined
Sep 25, 2007
Professional Status
Appraiser Trainee
State
Virginia
So, to lower my cost "for example" 25-50 bucks, below the norm to gain some initial business isnt unreasonable or damaging to our proffesion?
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
You can cut all the costs you want. Hell, do em for free.


Scroll down....

































































(long monologue on why cutting fees is a bad idea left out in the spirit of just answering the question)
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
I'm sure the folks that trained you won't mind you undercutting fees in the area. I bet they will appreciate it.:new_smile-l:
 

JERMCLEMOXX

Freshman Member
Joined
Sep 25, 2007
Professional Status
Appraiser Trainee
State
Virginia
No its not even that.
Honestly, you guys say if it only makes me ten dollars an hour after cutting fees its not worth it. But for "me" and the key word here is "me", Im going to do whatever I have to do to get experience...

So if eating 25-50 bucks will get me 8 hours of experience which no one seems willing to dish out now adays...then I'll take that lost for the sake of the future of my career to gain experience.

But I understad what everyone is saying and I appreciate your input. So my question was answered, it's not unethical.
 

Scott Kibler

Elite Member
Joined
Oct 7, 2003
Professional Status
Certified Residential Appraiser
State
Illinois
Forget about these union guys, find that sweet spot were you can be realistically profiltable while doing a complete, competent, thorough job on each and every appraisal assignment you take remaining in compliance with all applicable laws, regulations, standards and good appraisal practice.

You might find you have to raise your fees.
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
No its not even that.
Honestly, you guys say if it only makes me ten dollars an hour after cutting fees its not worth it. But for "me" and the key word here is "me", Im going to do whatever I have to do to get experience...

So if eating 25-50 bucks will get me 8 hours of experience which no one seems willing to dish out now adays...then I'll take that (LOSS) for the sake of the future of my career to gain experience.

But I understand what everyone is saying and I appreciate your input. So my question was answered, it's not unethical.

Now, answer a question for me.

So, your current experience isn't worth as much as that of a licensed appraiser? Will you then raise your fee when you have gained the proper amount of experience? What client will go for that?

What will happen is your experience will go up, and your fee will remain the same.

What other industry does that happen in?
 
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