Do you want fries with that?

[PJK03]

Unfortunately, I agree with this.

I always find it funny how some here refer to those accepting a lower fee as "Skippy".

The bottom line is that the 1004 has become a commodity in the world of residential appraising. AMC's will always shop for the lowest price because they have no accountability for poor quality. They need only deliver a product on time and keep the user informed along the way.

The days of residential appraisers performing typical 1004 work and making six figure incomes is over... and perhaps it should be. Residential appraising is not a profession, it's merely an occupation... that requires no formal education and minimal training to enter. With barriers to entry so low for so long, what did you all expect??

Jason, I don't mean any disrespect, but I have to disagree with you.
Without having a parent or family member who is an appraiser, it is a very difficult industry to get into (plumbing may be more difficult, I don't really know). I had a horrible time finding a supervisor, who turned out to be a really smart, but dishonest guy, who really didn't train me very well. That said, without this guy I never would have had a chance to become an appraiser. Now, the standards have become more difficult. The license test is twice as long, with actual questions that differ from the Broker license test. They used to be quite similar tests. Aside from this forum, there isn't any other voice for the appraiser, and this is because there was never the need. It used to be the son would ask dad if he had a question.

 

[Jozsef Poor]

Unfortunately, I agree with this.

I always find it funny how some here refer to those accepting a lower fee as "Skippy".

The bottom line is that the 1004 has become a commodity in the world of residential appraising. AMC's will always shop for the lowest price because they have no accountability for poor quality. They need only deliver a product on time and keep the user informed along the way.

The days of residential appraisers performing typical 1004 work and making six figure incomes is over... and perhaps it should be. Residential appraising is not a profession, it's merely an occupation... that requires no formal education and minimal training to enter. With barriers to entry so low for so long, what did you all expect??

"Residential appraising is not a profession" "minimal training to enter" For Skippy and those who were trained by Skippy is really not a profession only a source of income.


There are people who push the numbers up...Skippy
There are others who low-ball it thinking this secures their licenses (appraising is better than working in the previous job they had at McDonald's)...Skippy
Those who did the fist one in the last few years are often do the second now days.

Appraising a million dollar waterfront property when the highest house he/she ever did was the most is $300K....Skippy
Doing this same house for $300 fee and adjusting $30 per square feet on living area $10,000 on a nearly olympic size pool and deliver the report within couple of hours from the inspection....Skippy

Pasting a 100% template addendum identical to each appraisal report....Skippy
Have no idea when it is reasonable and when it isn't to adjust certain features or location on a property, such as busy street on single family or corner location on a condo....Skippy

In details I could write pages about Skippy, and for some reason I never find it funny...

 

[Truett Neathery]

Profit

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.

There was a car dealer in L.A. years ago who advertised "We lose a little on each deal but we make it up in volume!!" He's not there anymore.

There's an AMC in Pomona , CA. owned by an experienced , ethical MAI who will pay $230 or $240 for a REO appraisal, which requires an estimate of damage repair cost, a prediction of how long it will take to sell, etc. The "Reviewer" calls and says "Our client does not want the projected marketing time to be any longer than the marketing period of the comparable sales used", even though the bottom has fallen out in Folsom, CA, the school district is laying off 150 teachers and the major employer (Intel) is laying off thousands, this 400 miles north of the AMC. I'll bet all concerned keep up with the marker here.
When I tripled my fee request, I got no more requests (broadcast). Typically, those order requests are scooped up within minutes.
If the gas station on the corner sold gas for $1.50/ Gal., how long would they be around?
Would they need to add some kerosene to the gas to make a profit?
How much short-cutting would need to be done by Skippy who are willing to accept those assignments?
Is that why we are in this situation?
TN

 

[Terrel L. Shields]

Would they need to add some kerosene to the gas to make a profit?

still wouldn't make a profit. The only way you make a profit selling $1.50 gal gas would be to tweek the pump so that a "gallon" was a quart...which is what an AMC does. It takes a big fee and sells it to you for a fraction the price. They do nothing but pretend they have some important job as 'middleman'.

You say an MAI runs the AMC. I wonder how many MAI's run AMCs and if there is a relationship between that occurance and the AI's lack of real angst over AMC work and its implication.