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People ask me sometimes how many jobs I do a day, and when I tell them it sometimes happens that I inspect 3-4-5, they're like WOW, at 500-600 a pop, that's a lot of money, that's an awesome gig. To which I explain that first, it takes me awhile to write those 3-4-5 reports, and second, that 500-600 doesn't all go to me, not even close. And they're like, oh **** we didn't know that...
I used to get asked that fairly regularly when I was doing a lot more assignments with larger AMCs and used to get similar reactions (my bolds above)
I don't get that question too often anymore, but I work with either smaller AMCs, direct lenders or private/non lending individuals.
I do remember the last time I was asked at an inspection (around last Nov/Dec). It was an FHA property for a small AMC. The guy brought up fees. I said I won't disclose my exact fee, but my client is paying me my fee I set for an FHA property. He said, "Well, I'm paying $525. I hope you're getting a good portion of that!" I said, "well, I am getting about 80% of it" He said, "That's good to hear since you're doing all the work"
it represents the fee paid to the appraisER. it is an illinois requirement
illiinois code said:
An independent appraiser by employment or contract for a specific assignment, the appraiser shall prominently display the appraisal fee received from the appraisal management company in the certification as follows: "The compensation for this appraisal assignment is $_____."