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Fees

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Adios

Senior Member
Joined
Jan 20, 2002
Professional Status
General Public
State
Maryland
It seems to me that the current system is horribly dysfunctional . I have heard from a large firm that they literally have a full time employee devoted to quoting fees, 80% of which they fail to obtain orders for.

Likewise the AMC or lender are wasting valuable time as well chasing the low bidder.

From the appraiser perspective would you sign on to quoting a standard fee schedule ( excluding complex assignments) so that orders could be auto assigned based upon your work load and turntimes, assuming of course you had been prevetted.

This was how my firm did business but this was a very long time ago. It seems that we have taken a step backwards rather than moving forward. Technology today would allow us to Uberize the process much more but bad business practices seem to be in the way.

What say ye?
 

Adios

Senior Member
Joined
Jan 20, 2002
Professional Status
General Public
State
Maryland
I am not really talking about a scheduler which I believe Exos is.
 

Adios

Senior Member
Joined
Jan 20, 2002
Professional Status
General Public
State
Maryland
NO - Short answer.

At what cost and who would the enviable fee be paid to?

To be paid your fee ( based upon a survey in the absence of an AMC) would not be a better path?
 

Adios

Senior Member
Joined
Jan 20, 2002
Professional Status
General Public
State
Maryland
NO - Short answer.

At what cost and who would the enviable fee be paid to?

Not sure I understand the fee part of your question. The fee would be paid to the appraiser.
 

KHS445

Member
Joined
Aug 20, 2011
Professional Status
Appraiser Trainee
State
Michigan
The fee that would enviably be charged by the service being signed up for that was mentioned in your original post.
 

Adios

Senior Member
Joined
Jan 20, 2002
Professional Status
General Public
State
Maryland
The fee that would enviably be charged by the service being signed up for that was mentioned in your original post.

The market fee not the aspirational fee would be paid to the appraiser.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
I think its just easier for all concerned to call an appraiser, explain the appraisal requirements, have the appraiser figure out what all is involved, how difficult the AMC is to work with, and quote an appropriate fee. Makes more sense than a "standard fee' and then you find out it s a 4000 sf house on 20 acres with an accessory unit and they also need a rent schedule.
 

Adios

Senior Member
Joined
Jan 20, 2002
Professional Status
General Public
State
Maryland
I think its just easier for all concerned to call an appraiser, explain the appraisal requirements, have the appraiser figure out what all is involved, how difficult the AMC is to work with, and quote an appropriate fee. Makes more sense than a "standard fee' and then you find out it s a 4000 sf house on 20 acres with an accessory unit and they also need a rent schedule.

In my world all of that information would be gathered at time of loan application.

Isn’t the constant fee quoting inefficient for all parties? What percentage of quotes come your way?
 
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