Appraisal Fee Poll

[xmrdfghap]

I don't know many average appraisers, just really good ones. We usually charge a bit more.

 

[Tim Schneider]

Tim, take a client golfing or fishing and then you will have a win-win situation without compromising your fee.

Those things cost money too! I think the time has past for that style of business. Instead of buying clients with gifts & trips, I will offer them a good product at the best price. I doubt Sam Walton took his customers fishing to gain their business.

 

[Mike Kennedy]

Sam Walton simply copied the Business Plan from one of the best ...... FW WOOLWORTH >>>>

http://en.wikipedia.org/wiki/F.W._Woolworth


History DOES repeat itself.

 

[Colleague]

Tim you are buying the business when you discount your appraisal fee.

I just suggested an alternative where you can have fun and actually expense out a portion of it as a business expense. But then again what do I know? I could be wrong.

 

[Mike Boyd]

If no one chopped their fees, everyone would make more money per deal.....that is obvious. Sorry, but the appraisers I see lowering their fees are those who don't get much work in the first place. Ever wonder why? Some might be new to the business or the area. But the others have very slow turn times and produce a poorly written report. In my experience, turn times are much more important than the amount of the fee.

 

[Michigan CG]

The question is typical URAR, the average (Mr. Goodpasture has a good point), I will not start my car for less than $300, and that is if we are slow....$350 is the quoted fee.

I have had Michigan people tell me that $150-185 are now the standard in the hurting areas....I will work at Wal-Mart before I do that. Too much exposure, liability and I am too slow (as in I can't put them out that fast) to do it economically.

 

[Pat Bange]

The trouble with the "average" appraiser' fee (in metropolitan areas) is that the AMC wants to use that to force those lower fees, with no consideration, onto rural appraisers who do complex properties and have miles to travel. The trainee in the shop without business is willing to take that lower fee. Now the way the industry is going, the AMC's will have all the business and set the fees too.

 

[eepster2002]

I'm in Phoenix & I charge $375 for a standard URAR. It was raised from $350 in 2005 as gas prices (and home prices) were soaring. I rarely hear a complaint- other than whiney low-ballers, who you don't want for clients anyway. My clients don't mind paying the price, as they consistently get a quality report in a timely fashion. We're the lowest paid professionals in the real estate food chain, and I attribute it mainly to the appraisers undercutting each other. In the words of Robert Kyosaki & Diane Kennedy- Don't discount your rates, or you'll be known as the "discount rate" company.

 

[Ray Miller]

Seems people like to bring up Wal-Mart. Do some comparison shopping at Wal-Mart. I would be willing to bet donuts to dollars that you will find over 75% of goods at or above what other store charge in the area, once Wal-Mart has been established in the area 24 months.

I can buy printer ink cheaper at my local office supply store. No there are no Best Buys or Office Max or Staples in the area. They are $2 to $3 cheaper at the office supply store then Wal-Mart. I can get my truck lube and oil change cheaper at the local dealership the Wal-Mart. Same for buying Tires.

Wal-Mart has done well with there marketing at buying for less. So many people buy into it and shop there.

Still don't believe in working below the cost of producing product or service. I need to show a profit. I have given six appraisals away this week because I could not afford to do them in the rural area.

 

[WOOKIEG]

I find that quality and speed count most in my area. I charge $300 to long time clients and $350 to new clients and $450 for FHA appraisals but then I am typically delivering within 24 hours of the inspection. The cheap guys take forever out here in Arizona and the work or quality is garbage. So by applying the 3 C's I have built a nice steady business which includes alot of the BIG banks.