Appraiser Shortage Myth

[TC]

I miss the posts in here by Edd and Cynthia who were attorney/appraisers. They were able to tackle complex assignments regarding encroachments, zoning issues, condemnation, etc. and get handsome fees. They must both be retired, they haven't posted in a few years.

Also consider width as well as height, at my last live update course the place was full of TOM Q VAXY appraisers, who were horizontally challenged when it came to FHA crawl space access. FHA should do girth measurements when they renew CHUMS numbers. I still boilerplate mine in any report that may get reviewed....it might impress a reviewer like TC

Girth matters.

 

[Cob]

Maybe you to adjust your fee, the days of high Covid-19 fees are over for many. Adapt or die

Or go work in another field that doesn't treat business like Bizzaro World, I mean EVERYTHING is more expensive, what other field do you know of that when EVERYTHING is more expensive because of inflation, businesses drop their fees????

NOTHING that I have to purchase for my appraisal business has gone down in price, appraisers don't contact their MLS, software company, etc. and say, you know what, it's been REALLY SLOW, can I pay 10%-20% less for MLS, can I pay 10%-20% less for my appraisal software, it's just madness and what has ALWAYS driven me crazy are the appraisers that seem to think that lowering fees is just normal and the way it is. If you own a home, contact the tax office and see if you can I pay 10%-20% less for your taxes this year, since it's been tough on everyone.

The other thing is, does anyone honestly think when you accept a lesser fee for the appraisal order they are going to send you that the client/lender is passing that cheaper fee onto the home owner or charging them the same they always do, because I think we ALL know what the answer is to that question. I understand the higher fees from the last couple of years aren't around anymore, but I also shouldn't be expect to accept fees that were common in 2000 either.

 

[nachocheesefries]

That's your business model. I hope when business is slow they still have appraisals for you at $450.
My high appraisal fees compensated for the lower fees lenders/clients are offering me now. That is if I'm willing to work for $450.

One of my best has a newer processor that is making us bid on everything...its getting old, quick. Its disloyal. I was doing stuff for them for $450 last year when everyone else was paying $550-$600 per.

Its about the long game. I intentionally served my local clients when things were crazy. I am not going to shoot myself in the foot now..takes some patience though...I want to pop off some days. My current floor is $400 for easy cookie cutters in town. It was $475. Out of towners, FHA's/USDA's are still $550-$650.

Talked to an Appraiser last week that uses MLS comp photos on every single thing they do (FHA/USDA/everything). The playing field is not level and the clients could care less if you use MLS photos, as long as they can sneak it though...that's their guy/gal! The rest of us are shivering in the cold on principle. I am so sick of the MLS comp photo thing. We should all be able to use MLS comp photos...its the biggest disparity we have between us when bidding for work.

 

[shrubberyvaluation]

I can't imagine working for an AMC just looking for the lowest fees. I bid $500 on an order and they gave it to me for $550 fee because evidently that was the client's standard fee. Using MLS photos (without originals) for FHA seems like the easiest way to get dumped off. I guess they figure thats not gonna happen during the busy times. The worst for FHA is trying to get one of the sides which are sometimes hard or impossible to get from the street, and forgetting to get a side is even worse.

 

[Non Sequitur]

IMO this myth and the bias myth are part of the overall push by Fintech (see link below) to replace us with their “solutions.” And it isn’t just appraisers, the “more clicks, less bricks” push in banking is real, front office banking isn’t a growth industry by any measure.

FTX Bought Government’s Silence; Did Fintechs Buy Attacks on Appraisers?

Appraisers should pay close attention to the manipulation of Washington by FTX. Who’s funding the campaign against appraisers?

appraisersblogs.com

 

[jay trotta]

Or go work in another field that doesn't treat business like Bizzaro World, I mean EVERYTHING is more expensive, what other field do you know of that when EVERYTHING is more expensive because of inflation, businesses drop their fees????

NOTHING that I have to purchase for my appraisal business has gone down in price, appraisers don't contact their MLS, software company, etc. and say, you know what, it's been REALLY SLOW, can I pay 10%-20% less for MLS, can I pay 10%-20% less for my appraisal software, it's just madness and what has ALWAYS driven me crazy are the appraisers that seem to think that lowering fees is just normal and the way it is. If you own a home, contact the tax office and see if you can I pay 10%-20% less for your taxes this year, since it's been tough on everyone.

The other thing is, does anyone honestly think when you accept a lesser fee for the appraisal order they are going to send you that the client/lender is passing that cheaper fee onto the home owner or charging them the same they always do, because I think we ALL know what the answer is to that question. I understand the higher fees from the last couple of years aren't around anymore, but I also shouldn't be expect to accept fees that were common in 2000 either.

one correction - 1980