Customary and reasonable fees - 90 days

[Caligirl]

Go and try to get approved with LSI or RELS. They will send you a FIXED price sheet that they pay by county or state.

One company telling 15,000 appraisers a set price is not price fixing? And do not even give me the "accounting nightmare" thingy. Fools gold.

What LSI or RELS are doing does not dictate how I do my job. Do they also try to dictate the SOW? I base my 'reasonable and customary' fee based on my job, not what a NON-APPRAISER who is NOT completing the assignment tells me I should accept for the given assignment.

Also, how is customary and reasonable price fixing? No where is says that all appraisers must be paid the same thing. How about those re agents and the 6%? price fixing? No.

Not all agents take 6% for every single job.

At any rate, what you or I think is price fixing and what the law says may or may not be different things. See this link:

http://rerclaw.blogspot.com/2007/07/louisville-price-fixing-class-action.html

Call up thirty appraisers in your area, and you will probably get a range from $275-$400. That is "customary and reasonable". NOTHING wrong with that. It's a fact.

A range for WHAT JOB? As noted, I base my fee on the particular*assignment*, the particular SOW, the specific property, and the work involved to complete that particular assignment correctly. My fee might be more or less for a particular assignment, given the data available, the complexity of the assignment, the amount of risk involved, etc., to complete a particular assignment *properly*.

 

[Karl]

You are on this users ignore list and therefore cannot reply to this thread.


WOW!! I must have touched someones Guilty Bone!!

 

[von949]

Just say NO, I keep getting broadcast orders from valuation p something for $ 200. They are accepted before I can log in to the site. WTF.
I'm not a slave, but I draw the line at a certain price (biz practice).
Let's cut off all trainees, so they never finish there required hours. We would have no new skippies happy to take $ 200. when as a trainee they are getting $ 150+/-.

Whoa! Slow down....Lets not bring the trainees into this. Im sure there is a fair share of licensed and maybe certified appraisers out there that care accepting $200 orders.:blush:

 

[Karl]

Hey VON!! I can show you Apprasisals from Certified's that a Trainee can find errors in so don't get to nervous!! Many Certified fear Trainees cause they have seen the Certifieds errors. YES I can also take you to a shop of several Certifieds that are excepting $175 orders.

You think they'll DEMAND higher fees & Turn in clients that don't comply?? IF you do I have a Bridge in Brooklyn to sell you.

 

[NC Appraising]

Whoa! Slow down....Lets not bring the trainees into this. Im sure there is a fair share of licensed and maybe certified appraisers out there that care accepting $200 orders.:blush:

Yeah, fresh out of being a traineeThey all went to the AMCs because that was the easiest way to get a good flow of work. Heck, it pays more than the free to half split they were getting from their Skippy trainers.


Truth is, we have a oversupply of trainees and inexperienced cert appraisers from the boom time. i.e., form fillers. Pull three comps and move on as fast as you can. We need to find a way to get rid of them....


Sorry, could not resist.

 

[von949]

Hey VON!! I can show you Apprasisals from Certified's that a Trainee can find errors in so don't get to nervous!! Many Certified fear Trainees cause they have seen the Certifieds errors. YES I can also take you to a shop of several Certifieds that are excepting $175 orders.

You think they'll DEMAND higher fees & Turn in clients that don't comply?? IF you do I have a Bridge in Brooklyn to sell you.

I would assume this would be the standard thing to do but during this economy one can only be so picky I guess. I feel sorry for those that do not have a choice in declining sub-par pay for Appraisals. Im sure(hope) they have good reasons.

Maybe someone should make that thread.:icon_idea:

"Whats the lowest you have taken for as an apprasal fee?"
or
"Why do you continue to accept low appraiser fees?"

Yeah, fresh out of being a traineeThey all went to the AMCs because that was the easiest way to get a good flow of work. Heck, it pays more than the free to half split they were getting from their Skippy trainers.


Truth is, we have a oversupply of trainees and inexperienced cert appraisers from the boom time. i.e., form fillers. Pull three comps and move on as fast as you can. We need to find a way to get rid of them....


Sorry, could not resist.

Im sure if there was an option with their trainer to continue working even after they completed their training, maybe they would stay with them. Build something together.

I mean, what do you expect from a just fresh licensed appraiser with no foundation or marketing skills? He/she has to start from scratch. The only way to survive would be with the AMCs. Im sure its hard to build clients while working under a trainer without stealing them from the trainer.

Maybe Im wrong.

 

[AnonApprsr]

They should put a 50 year moratorium on new trainees. So, when I'm dead, you can replace me!

 

[NC Appraising]

I
I mean, what do you expect from a just fresh licensed appraiser with no foundation or marketing skills? He/she has to start from scratch. The only way to survive would be with the AMCs. I'm sure its hard to build clients while working under a trainer without stealing them from the trainer.

Maybe I'm wrong.

How about staying with your company that took you under their wings and trained you? Newbs can't do that. Once they get licensed, bam their off on their on.

That says it all.


This is why fees are at $175. Wow. And the AMCs think the above is customary and reasonable?

 

[von949]

^^^^^^^
Maybe thats why some trainers are implementing some type of contract for the trainees. Im sure it can only help.

Another question, when the trainee becomes licensed, does his/her fee increase?

 

[William K]

I can say with 99% certainty, lenders get appraisals because they have to not because they want to and that is the problem.

Lenders achieve income and profits when they make loans, and due to lending rules and regs appraisals prevent them from being able to make loans to people who don't have collateral.

They don't want to pay more for quality because quality doesn't get them more loans!