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But it's only a desk apprasial......

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Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Got a request late yesterday afternoon from an AMC I have not heard from in a while. I declined the order on their web site with the reason “not in my preferred coverage area”. It was not 5 minuets later that a sweet sounding voice on the other end was wondering why I declined the order. I sez..... Well, it is in Charlotte, NC and that is 4-5 hours away from me. She sez.... but it's only a desk appraisal. Me.. (getting irritated) 8O :x :evil: :twisted: I have never been there, much less know and understand the market. Besides, I DON’T do “desk appraisals”. It’s the little line in your form that states that while I am not inspecting the property, I am familiar with the subject and neighborhood. Can’t do that without at least a drive by. On top of that, the $40 fee is insulting. :evil: :evil: :evil:

Knowing that data is online and easily accessible, she STILL could not understand why I didn't want the job. :roll:

The sad part is that I know they found someone to play ball.
 

Mike Simpson

Senior Member
Joined
Jan 30, 2002
I won't even get out of bed for $40!!!

Has anyone ever heard of the POINT OF DIMINISHING RETURNS? (A.K.A. -Law of increasing returns and law of decreasing returns).

This Principle applies to the Appraisal Management Companies (AMC's) as well. They chop the fee into ever smaller and smaller pieces, and eventually there's so little left no ethical appraiser can possibly make a living. Who do they find then to complete their assignments?

Someone in an earlier post stated they were doing reviews for 45% of $150!!! Now that's the Point of Diminishing Returns.

-Mike
 

Ross (CO)

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
It is a shame that someone did not consider a little double-check of the geographic link between where you are and where the subject was located, especially when they have local Realtors who might gladly provide BPO or an AVM program for a solid and thorough (!) valuation of that property. About a year and half ago I traveled back to the northeast to visit friends and go to a school re-union weekend event. I purposely hinted to one client with whom I had begun to work, and NOT anyone in the Pittsburgh area, that I just might be stopping by their office to visit them and introduce myself. Sure enough, they were surprised that one of their appraisers from across the country would visit. I got the tour of the facility, and met the folks with whom I had been having conversations and doing reports over those months. These folks have all the wall maps with push-pins, and atlas books with sticky markers and stuff to indicate where they have support in the field and where they lack that. Metro areas were covered well, and rural areas were wide-open. The way they close those gaps is with enhanced compensation for the assignment. Be certain that the usual tactic is to discuss the compensation part later, maybe. I have come to learn that they connect well with their clientele when they get assignments fulfilled, and in a short and reasonable span of time. They DO have the money with which to negotiate. I would not have accepted a 4 to 5-hour drive either.
 
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