Do you want fries with that?

[Colleague]

It seems like each day I'm hearing about low ball appraisal fees offerred by AMCs, large banks, and the like. Most recently was a fee schedule I saw the other day from TransUnion with $240 fee for a URAR.

It reminded me of a funny response I heard from David Knox, the renowned real estate sales guru, who likes to say "do you want fries with that", whenever he encounters a Realtor who caves in too easily when it comes to discounting their commission.

 

[Wendy]

$240? Some of the AMCs have pushed it down to $125 from what I hear.

Sad.

 

[Steve Metz]

I friend of mine drove 189 miles on a rural appraisal the other day for $210. I told him he would have been better off telling them no thanks and sending the AMC a check for $40. At least he could have stayed at home all day. What are appraiers thinking. this does not make good business sense.

 

[Karl]

Who ever said Appraisers had business sense?? However to be FAIR!! seem it does NOT matter what field it is anymore.

Many believe that when they can not make it; cause COST outweighs INCOME, they actually think they, can make it up in VOLUME.

Lesson I was taught; again by someone much older than myself, very earlly in life: When you think you need to lower your rates cause someone else has, remember this:

I HAD the lowest rates in town, WHEN I was in business.

 

[Mike Boyd]

Putting aside any price fixing laws, would it not make sense to establish a minimum fee to be charged...make it nationwide as FHA use to do? Then we could end all the sniping and most of what we call skippy complaints and make a fair living.

 

[Walter Kirk]

A basic appraisal fee CAN be established. Price fixing charges can be avoided by establishing a fee schedule through a union.

 

[Bama Bayou]

A minimum fee would end up being the maximum fee, just as licensing caused the minimum qualifications to be the maximum.

 

[RSW]

If all of those Skippy trained trainees would stop accepting those orders after they got licensed or certified we could get the higher fees.

 

[Ray Miller]

I don't think fees can be raised very much if at all. This is due in part to the large number of appraisers who have no concept of the cost of doing business and are willing to work for nothing.

The pressure from the AMC's and large banks to keep fee's paid as low as possible.

We should have a book established like the automotive repair book. Set fees in urban, suburban and rural areas. This non-sense of the lenders thinking they can and do pay the same for an urban appraisal that in most cases can be done faster and less travel, then a rural appraisal is just nuts.

Appraiser have got to learn to say no to low fees.

Reg. is now $3.99 gal in our area.

 

[panappr]

A basic appraisal fee CAN be established. Price fixing charges can be avoided by establishing a fee schedule through a union.

No Unions, just a stronger voice please. If you are a professional, then you need to be concentrating on your profession. Most appraisers are just that, just good appraisers and most do it well, but few really have any business experience or knowledge other than running a few clients through a home office. It's what keeps us in our own little Vortex. The associations and government agencies that are out there are pretty much self-serving and don't teach anyone how to promote themselves or provide assistance to the industry with regard to it's economics. So you are pretty much on your own and only a few aggressive individuals will be truly successful. The only problem with being successful is you have to keep on being successful. It's 2 full time jobs and could drive anyone to an early grave, if your not healthy.

I would just love to let another entity or agency watch our backs and make sure that we (as professionals) are treated fairly and equally, and I am willing to pay for this!!!! And I'm sure you are willing too. Surely there is a large demand for just this, so where is it? Where are all the bright minds, because I don't have an answer. I don't want to have to join another association and have to be approved by anyone, or have to earn a designation, or join a union. No competing, just a voice of reason that has control and can get things done so we can get on with doing our jobs and concentrate on what we know best, valuation period. How much would you be willing to pay for a true watch dog, so you are secure enough to just be able to do your job free from sabotage and not have to worry about some conglomerate or government agency undermining your future, or steeling half your income?

Just feeling very vulnerable these days.