Corelogic Just Acquired Alamode

[NC Appraising]

Gimme a break, CoreLogic buying a la mode is not the equivalent of Walmart opening up next to the mom & pop store...in fact, it means little or nothing in the overall scheme of things.

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I agree with the above. But,

I was speaking of the appraisal profession as a whole. Every day we hear more and more bad news and negative news. This is just another bad news day.

We are just venting....that is all we can do. We have no power and are weak little pee-ons.

 

[Terrel L. Shields]

I bet Bigger's employees are none too thrilled themselves. But When you are a peon against a Juggernaut like Corelogic, you best sell out and go on your way. They'll ruin you some other way if not, like buying a smaller company and offering the software integrated into their products seamlessly for $100/year.

 

[chad hampton]

How do you think you are going to stop it? Instead of wasting time bellyaching and worrying about things you cannot control, appraisers would be better off figuring out how to adapt to the new and changing landscape

Who says we are going to do much of anything? You just seem surprised that appraisers are pissed that yet another piece of the RE puzzle is being purchased by the 800 lb gorilla in the room. People in all fields have had about all they can take of consolidation, mergers, etc. If you don't speak up soon, you will only have 1 company left in this county. I assume it will be apple and amazon battling for that title.

I know in this country we've been conditioned over the last 40+ years that we are supposed to just be thankful we have a paycheck and how you have to thank your bosses and owners/masters for all they do for you. Needless to say, it's why I'm self employed. It's hard to lose that mentality after it's been beaten into you for so long.

 

[timd354]

Is low 6 figures a lot of money? I make about $125-150k most years and it's quite offensive that you say I put in minimal effort. I also don't consider it to be a lot of money. Most of my piers in other fields do better, but some do worse. I don't know why you hold such animosity towards the self employed fee appraiser, but you hold quite a grudge against us. I don't know your situation, but I would never claim that you don't work hard or earn what you make, so I'm not sure why you say that about us.

I know exactly 1 appraiser that makes what I would call a good living. He's a gen. and has a staff of about 5 gens. working for him. I figure he pulls in about $400k, but he also has expenses I can only imagine. And pressure.

You're right about 1 thing - I'm not adopting to $100 orders just so the banks can steal more money.

Considering that a six figure income is roughly double the median household income in the USA, yes it is a lot of money, especially for a profession that did not until recently require a college degree (and now again does not) and does not not take a high level of skill (for the typical mortgage lending appraisal). BTW, I never said that you put in minimal effort....while many appraisers work very hard and always have, there was a time when it was very possible and realistic to make a $100k+ income in this field with out much effort working very flexible hours

By the way, if you don't think that $125-$150 is a good living, then you really have no clue about how most people live and the overall distribution of income in this country as such an income level of $125,000 puts you within the top 16% and and income of $150,000 puts you in the top 10%. Truthfully, if you don't think an income of $125,000-$150,000 is a good living, especially in a relatively low cost state such as NC, then you must have one hell of an entitlement mentality.

By the way, an annual income of approximately $32,500 would put you in the top 1% of highest income earners out of the entire human population. Think about that for a minute as you are sitting around feeling sorry for yourself because you don't think a $125-$150k a year is good money and that you somehow deserve more.

 

[NC Appraising]

Like it or not, the days of any residential appraiser being able to practically fall out of bed and make a six figure income with a fairly minimal effort (such as during the period prior to 2008) are long gone and likely never coming back. .

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Tim,
1. We are not working 8 hour day's. 10-14 hour day's are the norm. Week-ends...
2. I pay $1,800 a month for health insurance.
3. accountants, fees, MLS, gas, car, expenses.
4. No retirement, 401k match
5. What about the down times. Got to factor that in too. 2009-2012. Starving.
Factor all of that in.........what about staff appraisers on a 1/2 split????
Lets play fair now!!!!

No offense, but that almost the same statement the Corelogic guy said several years back in a article........

I always remembered that statement and wondered about it. Like we are suppose to feel bad about making a decent living?

A corporation telling a group that they should be making less. Funny when RELS was charging $500 and giving $250 to the appraiser. Greed. When they are making millions. A fxxx up statement. They have the balls to say that we should be making less so that THEY can make more. BS.

CONTROL and OBEY

 

[timd354]

I agree with the above. But,

I was speaking of the appraisal profession as a whole. Every day we hear more and more bad news and negative news. This is just another bad news day.

We are just venting....that is all we can do. We have no power and are weak little pee-ons.

I have heard the negative news constantly since I got into the profession almost 20 years ago...at some point it just became background noise

 

[chad hampton]

We also make the AMC's a lot of money. So you should at least like that aspect of what we do.

 

[timd354]

No offense, but that almost the same statement the Corelogic guy said several years back in a article........

I always remembered that statement and wondered about it. Like we are suppose to feel bad about making a decent living?

A corporation telling a group that they should be making less. Funny when RELS was charging $500 and giving $250 to the appraiser. Greed. When they are making millions. A fxxx up statement.

CONTROL and OBEY

I do not begrudge anyone for making a good living and charging as much as the market will bear....but truth be told, there were few easier ways to make a six figure income than residential appraising back in the pre-bubble days. That simply was not going to last forever. I remember an article in Money or the Wall Street Journal or some other similar publication circa 2003 - 2005 stating that appraising was the number #1 career to enter and that the avg. residential appraiser was making something like $110k.....I remember thinking that was the beginning of the end....after that article came out, I cannot tell you how many people asked me to get them into the profession....unlike those who ran the puppy mills and trained their future competition, I trained exactly one person (my wife) just so she could help me with overflow...in any case things were bound to change and they did.

 

[timd354]

We also make the AMC's a lot of money. So you should at least like that aspect of what we do.

I don't work for an AMC not do I own any stock in any AMC's so I do not care whether or not AMC's make money or go broke.

 

[gregb]

Anyone remember FTC/Corelogic back in the day?

https://therealdaily.com/big-data/ftc-corelogic-dataquick/