Appraisal Cost

[Mr Rex]

The truth hurts, but its still better than a soothing lie.

 

[Frederick]

Jerm,

I think what everyone is trying to tell you is that one of the major problems in our industry today is that there are too many trainees willing to work for too little and just as many lenders who at this point have no incentive to pay a premium for a well seasoned professional to do the work.

Consequently by the time you get your hours in there will be three more just like you are here today, willing to work at a loss chasing a profession that is rapidly disappearing because of that infinite chain of trainees undercutting the seasoned guy and clients with no incentive to pay for quality. You will then be sitting here with us shaking your head wondering why a guy would want to sacrifice to get into a dying profession.

Really read this forum and you will get a picture of the state of this profession, and it ain't pretty. Fast and cheap is all that matters right now and it is just a matter of time until your $25 cut is meaningless.

Read....and think about it

 

[c w d]

Is it unethical to offer appraisals for an amount a bit less than the standard to gain more business? If so, why?

There is nothing unethical about lowering one's prices. Ethics however, do play a role when the price is so low as to motivate the appraiser to cut corners to make up for the lost income in volume.

 

[Scott Kibler]

Outside of slightly lowering the cost, what does a trainee do to market himself to establish business with a supervisor/s that tell you to go out and get your own business on your own?

The OP's problem is not fees per say, it's the need to go out and market himself, as a trainee, in order to obtain hours. The only reasonable (assuming no number hitting hanky panky) way to accomplish that would be to compete on price. There's nothing else he can bring to the table.

 

[JRS at OBX]

Nobody wants to hire a trainee with a sense of entitlement and a short temper. Good luck to you.

 

[panappr]

If its my business why such cry babys over a 25.00 marketing scheme? Give me a break...

Hey, for what it's worth I just cut a very good deal on a very expensive property, because its close by and a very easy assignment (I thought it was fair). I guess its my business too..... and believe me I'm certainly not swamped.

 

[Smokey Bear]

Nobody wants to hire a trainee with a sense of entitlement and a short temper.

So true!

 

[Mr Rex]

Nobody wants to hire a trainee with a sense of entitlement and a short temper. Good luck to you.

The $25 will make all the difference I'm sure.

 

[Hamlet]

If the OP has a job to pay their bills and is willing to work for basically free, why not try to hook up with a cert in their area and volunteer to clean the office and work for free to gain experience?

There are ways to gain experience without undercutting appraisal fees.

They might also try going door to door and contacting FSBOs and giving them a free appraisal.

I think it is going to be very difficult to find lenders who would be willing to accept reports from an unsupervised trainee no matter what the price (or attitude).

 

[Brad Ellis]

JERM,

Would not the fee you propose to charge be something your supervisor would have to approve?

Right now no one is going to hire you - they must hire your supervisor. He or she may have somethig to say about that.

Brad