Fee split percentage

[MBD]

Please only licensed and certified appraisers respond.

For those that work on a fee-split basis with other companies, what percent of the fees do you receive? I am trying to narrow this poll to only include work assignments from other appraisal companies, not management companies.

 

[Brockway]

There is only one company that I do a fee-split with and they trained me 20+ years ago. I do a couple FHA orders a month for them and receive 75% of their full fee. All other work I complete is at full fee from local banks or the odd AMC that pays my full fee.

 

[Alison Swain]

I used to do a lot for a company that paid 60%. I grew to resent the low amount. I've come to understand my resentment wasn't their fault ---- just a product of my borderline personality disorder. :new_multi:


75% sounds very generous to me. In this current climate, stick with it!

 

[Mztk1]

I work with a small net of appraiser, 5 or 6 of us, seven was the most, who get work in everyone's territory and then send the work to each other at 80%. It generally is to help out our client first, but we have helped out eachother over the years. One guy, who is very good at marketing decided 6/4 is better than one, he asked if from him we'd accept 75% and for several years all he did was get work for everyone else and made a darn good living with his 25%. I guess I've been part of it for about 10 years or so now. One of the main guys went staff recently, but five of us remain.

 

[Blueprint]

As a newbie Certified (ignore my licensed label), all my work is 40% at top dollar in town prices which tells you nothing. I get paid well as a 3 year old newbie in this market. All expenses and services are paid for. Taxes come strait out my pay check as I am a full time employee. I am in an excellent learning situation in the current market.

 

[Deuce of Spades]

What are fairly experienced Certifieds getting in a fee shop?

 

[Delta85]

60% is about average.

 

[doug clarke]

As a fee shop owner, by operating costs are 25%. If I paid 75%, there's nothing for me.

 

[Em Tee]

As a fee shop owner, by operating costs are 25%. If I paid 75%, there's nothing for me.

Are you serious? It sounds like to need to lower your costs!

 

[David Sawyer]

When I worked for a fee shop, we all were 1099 sub contractors, paid our own expenses including E & O, MLS, etc. Were responsible for collecting payment on C.O.D. accounts including their credit card numbers (my C.O.D. clients were about 80% of my volumn.

Initially as a certified appraiser my cut was 60% with payment 4+weeks after report completed. When the market went south and our own individual volumn was down about half, the "kid" called us into his office individually and explained that he was going to spend a "fortune" on advertising but did not have the funds do to so to improve the business (he had just moved into a $1 million+ residence) and as a short term arrangement was cutting the split to 55%. The only advertising "fortune" spent was on about a dozen mag signs. Great sell job. We all new this was BS at the time since that was all that ever came out of his mouth!

Then about 2-3 months later, the chicken *hit layed a letter on everyone's desk signed by Daddy and him at 4:50 pm on Friday afternoon (only one person left in the office at that time) advising that the split was being cut to 50%, retroactive on any payments not collected and paid to the appraiser.

Needless to say, shortly afterwards I decided it was time to go solo since approx 80% of my work was from my own clients.