Fees Clear Capital

[djd09]

Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors to raise, lower, maintain, or stabilize prices or price levels. Generally, the antitrust laws require that each company establish prices and other competitive terms on its own, without agreeing with a competitor. When purchasers make choices about what products and services to buy, they expect that the price has been determined on the basis of supply and demand, not by an agreement among competitors. When competitors agree to restrict competition, the result is often higher prices. Price fixing also includes agreements among competing purchasers or competing employers about the prices or wages they will pay

Price Fixing

Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors to raise, lower, maintain, or stabilize prices or price levels.

www.ftc.gov

note that the all knowing gse's do not uad appraisal fees...

A naked agreement among competitors to fix prices is almost always illegal, whether prices are specified at a minimum, maximum, or within some range. Illegal price fixing occurs whenever two or more competitors agree to take actions to raise, lower, maintain, or stabilize the price of any product or service. Price-fixing schemes are often worked out in secret and can be hard to uncover, but an agreement can be discovered from "circumstantial" evidence. For example, if direct competitors have a pattern of unexplained identical contract terms or price behavior together with other factors (such as the lack of legitimate, independent business explanation), unlawful price fixing may be the reason. Invitations to coordinate prices also can raise concerns, as when one competitor announces publicly that it is willing to end a price war or raise prices if its rival is willing to do the same.

hello...CRN???

 

[George Hatch]

Me neither. But if suffering, then they need to make the cognizant decision to change careers ASAP as they don't have the management strengths to be an appraiser.

Their needs are identified by ... them. Not by their competitors in the marketplace. If everyone was busy with their own work they wouldn't get all entangled by how little some appraisers are willing to work for. The reason "substandard fees" are an issue is because many appraisers don't have enough work to get by regardless of how high their fees are for the assignments they have access to.

Let's not lose sight of the point that the users decide what level of SR1/SR2 is sufficient for their usage. If they choose to traffic in trash then that decision is 100% on them. Not on the appraisal profession as a whole.

 

[Terrel L. Shields]

If they choose to traffic in trash then that decision is 100% on them.

They still hurt a lot of people who otherwise could make a better living. Our actions impact others.

 

[djd09]

you should see what union thugs do to under cutters...

 

[George Hatch]

They still hurt a lot of people who otherwise could make a better living. Our actions impact others.

In the quote of my comment to which you responded, that "they" are the users of the appraisals. The economic interests of those "hurt a lot of people who otherwise could make a better living" to whom you pivoted are not among the top 100 priorities among those clients and users. Nor among their top 100 responsibilities.

AFAICT the lenders and GSEs (as well as my own clients) don't care about the well being of fee appraisers. I consider that to be an objective observation. Not an expression of support or advocacy for their apathy.

 

[George Hatch]

you should see what union thugs do to under cutters...

Well see, that's one example of the level of coercion it would take for the collective to impose their will on the individual. If the fee appraisers had the means to do that.

 

[djd09]

what else would a revaa rep say...

 

[George Hatch]

what else would a revaa rep say...

Another day, another djd lie.

What else would anyone say about the fee appraisal business who isn't a fee appraiser?

 

[WestMichiganCG]

Me neither. But if suffering, then they need to make the cognizant decision to change careers ASAP as they don't have the management strengths to be an appraiser.

I would recommend tracking hours worked over net income. You can make $20/hr at Trader Joe's.

 

[J Grant]

The whole thing reeks because even if the clients /user accepts the lower level appraisal report or less competent appraisers chosen by fee, the borrower and investors are being hoodwinked - they assume competence with impressive sounding bank name and are ignorant that it is once at the AMC level a reverse auction flea market of siliting the lowest bid or comparing for the lower fee in order to wring profit out for a thrid party ( the AMC ). The lenders should be compensating the AMC, -of course, they will not unless forced. to. Maybe their cost can be passed on to the consumer, but they sill would rather continue this way if possible.

Any attempt to normalize it is disgusting. The AMC system as it stands with their compensation paid for out of the appraisal fee stinks in every aspect, even if it is legal. Child labor in America was legal at one time too. I am not trying to make a comparison, as that sounds ridiculous, but the point is that many abusive and exploitative practices were legal at one time.