Hear me out

[robintam116]

Ok so I just read an article in RE magazine which states 85% of us appraisers have over 21 years experience. So that tells me that most of us have seen huge transformations in this dying industry. Do you remember when we got paid $275 for a 6 page report? How is it that 20 YEARS LATER we are getting 400 to 450 for a 30 page report? Geez Im over it. So hear me out.....Appraisals are going away pretty fast due to all of the technology. HERE IS OUR LAST CHANCE TO MAKE A BIG IMPACT ON WHAT IS LEFT OF OUR CAREERS AND INCOME......I believe that doubling my fee with the new 3.6 would be justified! Now is the time for ALL appraisers to stick together and turn the tables back to where we are getting paid for what all we have to do. Chime in and let me know what you guys are planning on doing as far as fees. I sure would appreciate the input.

 

[J Grant]

Ok so I just read an article in RE magazine which states 85% of us appraisers have over 21 years experience. So that tells me that most of us have seen huge transformations in this dying industry. Do you remember when we got paid $275 for a 6 page report? How is it that 20 YEARS LATER we are getting 400 to 450 for a 30 page report? Geez Im over it. So hear me out.....Appraisals are going away pretty fast due to all of the technology. HERE IS OUR LAST CHANCE TO MAKE A BIG IMPACT ON WHAT IS LEFT OF OUR CAREERS AND INCOME......I believe that doubling my fee with the new 3.6 would be justified! Now is the time for ALL appraisers to stick together and turn the tables back to where we are getting paid for what all we have to do. Chime in and let me know what you guys are planning on doing as far as fees. I sure would appreciate the input.

I get $525-$575 for the appraisal from the majority of my clients, and it is still not enough. I plan to increase fee on UAD 3.6 by 15-20%. And see what happens . Imo, doubling your fee might be unrealistic; however, go for it if you want to

, A fee of $800, which would be double your current fee, is appropriate considering the diminished volume of work and the fact that UAD 3.6 is more data-rich, regardless of how much they push the idea that AI will speed it up.


That said, I am completely disgusted by the business because you are correct - doubling of fees would just about bring us even for the fact that cost of living and inflation have eroded the modest fee increases we did manage to achieve. Despite planning to learn UAD and using tech to make it easier, I am also working on plan B to get out within a year - unless I see things improve and stablizize wrt work volume. It is very expensive to stay in this business at this point.

 

[CGinMN]

You've had just as much control over your fees for the past 20 years as you do in the coming years. Individual companies can do whatever they want, but as long as there is competition the market will find equilibrium.

Imagine NAR said to every agent, double the price of every home you list. How effective do you think would that be at increasing prices?

 

[J Grant]

You've had just as much control over your fees for the past 20 years as you do in the coming years. Individual companies can do whatever they want, but as long as there is competition the market will find equilibrium.

Imagine NAR said to every agent, double the price of every home you list. How effective do you think would that be at increasing prices?

Appraisers have control over their fees, but that does not mean the appraiser will GET that fee.
A cert gen has no clue about how the res appraisers have been boxed in wrt the AMC;s having such a huge market share has impacted the ability of many appraisers to get work at their own fees, which supposedly, they "control"

It has changed drastically over the past 20 years, the drastic change occurring after the HVCC, where literally, almost overnight, real estate appraisers lost most of their clients to the AMC's and could not get those clients back. A portion of lender clients order directly with no AMC, and it costs me almost all my savings to turn down the low AMC fees until I can get enough direct work. I did take low AMC fees in the beginning and it was horrible.

The future looks dim in prospects wrt res lending work fees because now there are waivers, hybrids, and PDC collectors who do the inspection portion. Some see competion from AI, though I think appraisers partnering with AI or using AI to assist is the way forward

 

[ucbruin]

It's obvious that fees are not the most important factor for staying in the business....

 

[TerryRohrer]

A cert gen has no clue about how the res appraisers have been boxed in wrt the AMC;s having such a huge market share has impacted the ability of many appraisers to get work at their own fees, which supposedly, they "control"

Your inability to understand anything outside that tiny little vacuum between your ears is astounding. Equally astounding is your ability to extrapolate without information. I expect that power allows you to appraise 10,000 ft² mansions with only sales involving tiny homes available.

 

[Tom D]

Don't discuss any new actual $ fee amount in any group. They kill you with price fixing.

 

[George Hatch]

I think appraisers have nothing to lose by increasing their asking price on these assignments. The worst that can happen is losing out on some work to your competitors for however long you're willing to take the hit before lowering your fee to whatever amount the market will bear.

 

[glenn walker]

The problem is many appraisers only have two clients that provide 90% of their income. Lose one of those and your business is over.

In my opinion doubling your fee is ending your career. A 15% to 20% seems like a better way to increase fees but even that may not fly if others use the lower fee model.

 

[J Grant]

NAR Calls Out Unregulated Middlemen: A Wake-Up Call for FHFA - Appraisers Blogs

When unregulated middlemen run the show, appraisers get ghosted, consumers get duped, and regulators get a velvet-gloved slap from NAR.

appraisersblogs.com

An unexpected ally.