Help! How do appraisers get access to MLS data Or other listing, sale price, type of loan data

[shrubberyvaluation]

You've never worked rural areas Fernando. SW Missouri used to be awful. You couldn't join with a RE agent's license. And, I belonged to one that allowed you access only to the solds. You couldn't even see the listings nor pendings in the MLS.

Seems like a horrible MLS if RE agent's can't even join. Who lists on it?

 

[Terrel L. Shields]

Seems like a horrible MLS if RE agent's can't even join

Misstatement. You couldn't join without a RE agent license, or brokers license. Even then the brokers would not cooperate with appraisers who had RE licenses if that license was not local to their MLS which often covered only 1 or 2 counties with populations of less than 20,000. They merged later into a larger MLS but I had given up on MO by then. Add to that MO is non-disclosure. And despite that, one assessor wouldn't allow you to look at more than 3 files per day...

 

[Badlands]

Not sure what you are exactly saying. What is keeping you from joining your local board for MLS access.

So I did get in touch with one organization, the application fee is $3119.50. That is before dues. It seems like a lot to access data in one area. I have enough work elsewhere, I will continue to decline work in those areas unless the lender is ok with relying on county data. What i cannot find is listing price or loan type.

 

[Russ Kitzberger]

It is simple, you need to join the MLS for your projects. You need to figure out a way to make the business work. That might mean charging the client for the MLS costs for one project.

There area markets where you have to be a broker to be on the MLS, so appraisers need to also be brokers or agents of a broker. Additional costs there, but there is less competition for appraisal services.

Keep in mind you need to have experience for FNMA projects in the subject market areas prior to doing the project, so if you don't have the experience, you need to turn it down anyway.

This is the real reason why certain areas have few appraisers, same as other service industries. You might have two local farriers and zero appraisers in your rural area. In a big city too many appraisers and no farriers. Supply and demand.

 

[Russ Kitzberger]

So I did get in touch with one organization, the application fee is $3119.50. That is before dues. It seems like a lot to access data in one area. I have enough work elsewhere, I will continue to decline work in those areas unless the lender is ok with relying on county data. What i cannot find is listing price or loan type.

It's your business, but some of my clients would just let me tack that on the bill as an incidental expense.

If this is little cheap lending work, then call that MLS and find out who subscribes refer them to work and ask them refer you to work in your area. That is how every other profession does it. If you want to work out a referral fee and disclose it per USPAP.

 

[Badlands]

It's your business, but some of my clients would just let me tack that on the bill as an incidental expense.

Even people in trailer houses wanna refinance, go figure. I am sure $3000 on a rural residential appraisal would not fly as an incidental expense.
There is a part of me that feels an obligation to serve people in rural areas, like reservations and small communities near the national park, and Military base, but they just dont fit the AMC or large lender molds. I was just wondering how other appraisers make it work.

 

[Russ Kitzberger]

Even people in trailer houses wanna refinance, go figure. I am sure $3000 on a rural residential appraisal would not fly as an incidental expense.
There is a part of me that feels an obligation to serve people in rural areas, like reservations and small communities near the national park, and Military base, but they just dont fit the AMC or large lender molds. I was just wondering how other appraisers make it work.

They can't, it is not possible. The way Dr's make it work in those areas is by accepting federal money to staff rural clinics.

Walton of Walmart used to fly his plain over towns, if it supported a McDonalds it could support a walmart.

If there isn't a McDonalds, it probably won't support an appraiser. I bet if the town would support an apprasier, there is already an appraiser there.

This is exactly what SD and ND are doing with their new program, they are taking federal money to train new appraisers. Once those people are licensed, what is going to happen; will there be enough profitable work if there isn't enough for those who are licensed already?

Even people in trailer houses wanna refinance, go figure. I am sure $3000 on a rural residential appraisal would not fly as an incidental expense.

It is interesting because; that is a combine tractor minor repair bill and no issue paying that. It is all perception of value for services. Lost production of the tractor is perceived as more valuable than the financial leverage of a house.

I am sure $3000 on a rural residential appraisal would not fly as an incidental expense.

I guess it depends, a $10k+ appraisal fee is not an issue for environmental litigation in a rural area and FNMA wants you to do the environmental impact analysis in your 1004.

 

[Russ Kitzberger]

. I was just wondering how other appraisers make it work.

It is not possible, that is why they are calling on you. If you actually tell them what it will cost, they will just not do it or do a cheaper loan.

 

[Dublin ohio]

It is simple, you need to join the MLS for your projects. You need to figure out a way to make the business work. That might mean charging the client for the MLS costs for one project.

There area markets where you have to be a broker to be on the MLS, so appraisers need to also be brokers or agents of a broker. Additional costs there, but there is less competition for appraisal services.

Keep in mind you need to have experience for FNMA projects in the subject market areas prior to doing the project, so if you don't have the experience, you need to turn it down anyway.

This is the real reason why certain areas have few appraisers, same as other service industries. You might have two local farriers and zero appraisers in your rural area. In a big city too many appraisers and no farriers. Supply and demand.

Yikes! Just got by invoice for my annual dues. $1045.00. Includes national, state and local dues and keybox access. There is also a $23 per month MLS access fee. Our MLS covers 8 counties.

 

[Dublin ohio]

You've never worked rural areas Fernando. SW Missouri used to be awful. You couldn't join with a RE agent's license. And, I belonged to one that allowed you access only to the solds. You couldn't even see the listings nor pendings in the MLS.

There were a few areas when I started that had no MLS. Always had to stop by the courthouse and local re agents offices. Even though I was from "out of town". Never had a problem. They were glad to see someone since there always seemed to be a "shortage" of appraisers willing to appraise in those areas.