Appraisal With No Inspection By Appraiser?

[George Hatch]

Your problem is that SL apparently does know what their alternatives are. Otherwise they wouldn't be able to place those orders at whatever those fees are.

 

[DWiley]

lol, if my dr, lawyer, or accountant said his/her fee was half of what is C&R for the profession, I would definitely not use them.

Well, there is just a little mathematical issue with that position. Significantly more than half of residential appraisal work now goes through AMCs. Given that, what exactly is the market rate? That is why the writers of the law allows for examination of actual rates paid (including paid by AMCs) as a method for documenting C&R rates.

If the attorneys are charging $450 and hour, but three years later over half of them are charging $325, what is the market rate? Hint: It isn't still at $450.

We just run the comps and see where the market level is - just like you do

 

[bnmappraisal]

Online scheduling - like my doctor and dentist both use now - is very widespread these days. As you may recall, there have already been a few heated threads on how that might apply to the appraisal process

I'll say it for you DWiley ... it's Exos!

Hope the Exos photo/video shoot went well today

 

[Mr Rex]

Do attorneys, accountants, or doctors do desktops of any sort? Prolly not. One reason "hybrids" are not a threat to their ongoing business. Head out of *** ASAP would help tremendously...
.

 

[hastalavista]

Well, doctors are doing something that is similar (in the context of their practice).
It is very common now for hospitals, etc., to be networked to a central specialty facility where a specialist is available to review what the boots-on-the-ground doctor is trying to evaluate. Happened a few months ago with my wife when we had to take her into the emergency room. The specialist-doctor that the hospital used to have locally on-call is now the specialist-doctor working in Chicago and networked to my local and a number of other local hospitals.
Obviously we are talking a different fee-schedule with doctors vs. appraisers. But, the process of compartmentalizing tasks and completing them at different locations by different individuals is becoming more and more common in other business models and other professions.

 

[timd354]

Well, doctors are doing something that is similar (in the context of their practice).
It is very common now for hospitals, etc., to be networked to a central specialty facility where a specialist is available to review what the boots-on-the-ground doctor is trying to evaluate. Happened a few months ago with my wife when we had to take her into the emergency room. The specialist-doctor that the hospital used to have locally on-call is now the specialist-doctor working in Chicago and networked to my local and a number of other local hospitals.
Obviously we are talking a different fee-schedule with doctors vs. appraisers. But, the process of compartmentalizing tasks and completing them at different locations by different individuals is becoming more and more common in other business models and other professions.

The use of nurse practitioners in lieu of doctors in many areas of practice is becoming more and more common. The number of nurse practitioners having double to almost a quarter million over the past decade or so: https://www.aanp.org/press-room/pre...r-of-nurse-practitioners-hits-new-record-high

 

[chad hampton]

I wonder if lawyers would be ok with all legal working being fed through lawyer management companies? Their income would drop like a rock if that market were as manipulated as this one is. But would that be the true market fee or a manipulated market fee? Lawyers are too smart to let their market get taken over.

 

[bnmappraisal]

I don't see how TRID has any impact. I have direct lenders that pay a set fee. The fees are such that I have, so far, never gone back for a higher fee. So what would prevent them from using an AMC, paying the same fee I get and paying the AMC the "plus" for managing?

Good point Jim. My direct clients are the same way. And when they do have a question regarding a more complex property and/or additional service above my "normal" 1004/1073 fee (i.e. 1004 plus Rent Schedule or OIS) they just inquire

 

[glenn walker]

As far as attorneys and doctors -Outside of specialists many Commercial appraisers make as much or more than a GP-especially if the physician is located in a rural area or with a large HMO- The Attorneys in my area are a dime a dozen and like $20.00 *****s standing on a street corner and many are currently in a similar situation to loan production residential appraisers.

I knew something would give when back in 2005 because I was making more money than my cousin who was a physician with Kaiser, today he is a head Radiologist at a major cancer center in San Diego and last year his income exceeded $350,000 and he has full medical-dental -5 weeks vacation and is treated like a god.

Loan production residential appraisers are in a race to the bottom of the hill - No problem once you admit it and lose your pride it's not all that bad - It's either re-tool or die

 

[hastalavista]

I wonder if lawyers would be ok with all legal working being fed through lawyer management companies?

There are a number of attorney-business entities that are similar to AMCs in that you (the client/consumer) deal contract with the entity and they then refer out your issue to one of their networked attorneys. You pay a set fee for some basic services and can get a preferred hourly rate for other services. I belonged to one for about 5 years when I first started my business in NorCal. I thought it was a good deal!

The attorneys have their own private practice but contract with the entity to get additional referral work.