Fighting AMCs alone or in groups?

[Randolph Kinney]

That's ignoring, not competing.

Absolutely not. By choosing to work for "clients", you are competing in that you are not contributing to the problems of rewarding AMCs with your labor.

AMCs can do what they do because too many appraisers choose to work for them.

 

[Roy Courtney]

Absolutely not. By choosing to work for "clients", you are competing in that you are not contributing to the problems of rewarding AMCs with your labor.

AMCs can do what they do because too many appraisers choose to work for them.

So TRUE! When a very large number of appraisers STOP working for AMCs this horror will end. It does not require every appraiser just enough to prevent the AMC from having the market coverage that makes them desirable to their clients.

We do not need any permission from anyone. No new regulation is required. Only some backbone!

 

[Kevin Mc]

We do not need any permission from anyone. No new regulation is required. Only some backbone!

Thank you Roy.

 

[Meandering]

Absolutely not. By choosing to work for "clients", you are competing in that you are not contributing to the problems of rewarding AMCs with your labor.

Are your clients lenders? Do football players compete against golfers?

You can only compete with AMCs when you can take their market share of clients away, otherwise you're playing in a different game. So, do you have a nationwide coallition of appraisers that can service clients who are now using AMCs thereby actually competing against AMCs as the NVS is? Or more like your 10 non AMC appraisal requests have clouded your vision of what you are accomplishing.

To compete, you need to attract the clients that lend nationwide. Pray tell, what is the plan of action for us to do this?

Plan A. 5,000 individual appraisers across the country all trying to email BoA to work for them outside of their AMC?

Or plan B. Appraisers should only work for small local lenders then no one will work for the national lenders, who will no longer make loans based on appraised values due to lack of supply and a high demand for valuations, which would hasten the demise of the profession when they successfully lobby for 100% AVM Values in collusion with the NAR and their National Database because there are not enough appraisers to service the need and it takes too long to train new ones.

Really, tell us how. Cause I'm all for anything that will work.

 

[Randolph Kinney]

Absolutely not. By choosing to work for "clients", you are competing in that you are not contributing to the problems of rewarding AMCs with your labor.

Are your clients lenders? Do football players compete against golfers?

You can only compete with AMCs when you can take their market share of clients away, otherwise you're playing in a different game. So, do you have a nationwide coallition of appraisers that can service clients who are now using AMCs thereby actually competing against AMCs as the NVS is? Or more like your 10 non AMC appraisal requests have clouded your vision of what you are accomplishing.

To compete, you need to attract the clients that lend nationwide. Pray tell, what is the plan of action for us to do this?

Plan A. 5,000 individual appraisers across the country all trying to email BoA to work for them outside of their AMC?

Or plan B. Appraisers should only work for small local lenders then no one will work for the national lenders, who will no longer make loans based on appraised values due to lack of supply and a high demand for valuations, which would hasten the demise of the profession when they successfully lobby for 100% AVM Values in collusion with the NAR and their National Database because there are not enough appraisers to service the need and it takes too long to train new ones.

Really, tell us how. Cause I'm all for anything that will work.

I do not have any AMCs as clients. I have one lender as my steady client that has its own appraiser panel. They pay what I charge them, full fee. I would have to do at least 2 to 2.5 times the volume working for AMC fees.

I do a fair amount of bankruptcy, divorce and estate appraisals, all at my full fee. I get referrals too.

I do some appraisals for Realtors who can't seem to set a price in markets that are dominated by REO properties and short sales. I charge them full fee. They complain that they can get appraisals at 1/2 the price, yeah, skippy or AMC quality. I tell them to take the cheap fee appraisals.

 

[Meandering]

I do not have any AMCs as clients. I have one lender as my steady client that has its own appraiser panel. They pay what I charge them, full fee. I would have to do at least 2 to 2.5 times the volume working for AMC fees.

I do a fair amount of bankruptcy, divorce and estate appraisals, all at my full fee. I get referrals too.

I do some appraisals for Realtors who can't seem to set a price in markets that are dominated by REO properties and short sales. I charge them full fee. They complain that they can get appraisals at 1/2 the price, yeah, skippy or AMC quality. I tell them to take the cheap fee appraisals.

Welcome to what the rest of us are doing, throw in a tax appeal or two. But this is not competing with AMCs because these are not the clients of the AMCs, never have been, never will be. Most clients who are not national lenders want to communicate with the appraiser not wait on some know nothing to translate into stupid stips.

To compete you need to take their client share.

Individuals can not compete with AMCs they can only remove themselves from the game and play a different game.

Remove enough and we will fall victim to supply/demand ratios causing a shift in the market from humans to computers.

 

[Randolph Kinney]

Welcome to what the rest of us are doing, throw in a tax appeal or two. But this is not competing with AMCs because these are not the clients of the AMCs, never have been, never will be. Most clients who are not national lenders want to communicate with the appraiser not wait on some know nothing to translate into stupid stips.

To compete you need to take their client share.

Individuals can not compete with AMCs they can only remove themselves for the game and play a different game.

Remove enough and we will fall victim to supply/demand ratios causing a shift in the market from humans to computers.

To compete, you have to produce a higher quality appraisal that some entity will pay a higher price than AMCs. I don't compete with low quality valuation products (AVM, BPO, CVR and AMC appraisals). My lender-client has a choice; go with AMCs or maintain a high quality high confidence appraiser panel. Other lenders are beginning to see the wisdom and slowly are making the switch. The big banks that have an interest in their AMCs won't switch but they may have to raise the appraiser fees as the really cheap appraisers leave the business or engage in CVRs, because their appraisals are no longer accepted.

 

[Meandering]

To compete, you have to produce a higher quality appraisal that some entity will pay a higher price than AMCs. I don't compete with low quality valuation products (AVM, BPO, CVR and AMC appraisals). My lender-client has a choice; go with AMCs or maintain a high quality high confidence appraiser panel. Other lenders are beginning to see the wisdom and slowly are making the switch. The big banks that have an interest in their AMCs won't switch but they may have to raise the appraiser fees as the really cheap appraisers leave the business or engage in CVRs, because their appraisals are no longer accepted.

When Big Banks control more than half of the work, there is no way to compete. As I said, your local lender is not competing with the nationals. They are in different games. Borrowers who are shopping for the dead lowest rate are not borrowing from your local lenders. Their borrowers value the ability to walk in and speak to the people who are handeling thier loan. They pay the additional fees/interest because they want that "community" servicer who will hold some of the mortgages and will fund some of the products the big guys won't touch. Your clients are trading on quality customer service which comes at a premium over, big, fast, cheap.

You are in a different game. The issue is to remove, big, fast, cheap from the lending world thereby trickling down to the appraisal world.





Which is fine until the nationals are not receiving the services they require. When that happens it will be an all new game again, reshuffling the deck and the players.

 

[Oceanic1]

What about when enough of the bottom of the barrel appraisers get black listed, and thier work is no longer accepted by most lenders? The higher quality appraisers will either have moved on, or just won't work with them, so does this mean AVM's across the board eventually?

 

[Meandering]

Looks that way to me.

What is going to happen with NAR national database and AVM? Will Realtors be able to list and sell properties over what their AVM says they are worth? Or do you think that when properties don't appaise for the contract price that it will come down to a fight between the individual appraiser and the NAR?

The sand is deep and warm, a nice place to be when you don't want to see the real world.