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I Have No Idea

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ihatect

Sophomore Member
Joined
Jul 9, 2008
Professional Status
Certified Residential Appraiser
State
Connecticut
I'm currently interviewing for a staff appraiser job with Chase and with TSI..now Amrock, sister company of Quicken Loans. Wondering if there's anybody out there who is or was a staff Appraiser for TSI on the east coast... base pay is 43k plus bonus/incentive I just don't know how realistic achieving the bonuses are... Chase is rolling out a new concept with just straight salary, and if it is what they say it is it's pretty decent... quota is 26 appraisals per month and they are paying 90-95k for high property value states... anybody been a staff appraiser for these companies? I could use your insight


Happy Connecting. Sent from my Sprint Samsung Galaxy S® 5
 

KHS445

Member
Joined
Aug 20, 2011
Professional Status
Appraiser Trainee
State
Michigan
You haven't provided enough information about the TSI situation for anyone to break it down. The Chase offer averages approximately $290 per report and would require six completed reports per week. Obviously the numbers would change a little depending on allowed vacation and holidays. How much of the appraisal process would you personally have to complete? Schedule the appointment, inspect the subject, drive the comps, verify sale information, obtain all pertinent information for 1004 & MC, type the report, label and download maps and pictures, etc. Is this an exempt or non-exempt position? My guess is that somehow it will be classified as a exempt position so if it takes you 60 hours or more a week to complete your "quota" the extra time is your donation to the Company and not treated as overtime.

Depending on your starting point and the area you are expected to cover this seems like a fairly tight schedule and one that will lead to quick burnout. Many of us got into or have stayed in appraising for the flexibility of schedule. Under what sounds like a "quota" system your time will be theirs until you complete your work and they probably aren't going to care if it takes you four hours, six hours or eighteen hours per report as all they will want is your minimum of six competed reports per week.

Just remember if it sounds too good to be true it probably is.
 

bnmappraisal

Elite Member
Gold Supporting Member
Joined
Nov 9, 2011
Professional Status
Certified Residential Appraiser
State
Florida
I'm currently interviewing for a staff appraiser job with Chase and with TSI..now Amrock, sister company of Quicken Loans. Wondering if there's anybody out there who is or was a staff Appraiser for TSI on the east coast... base pay is 43k plus bonus/incentive I just don't know how realistic achieving the bonuses are... Chase is rolling out a new concept with just straight salary, and if it is what they say it is it's pretty decent... quota is 26 appraisals per month and they are paying 90-95k for high property value states... anybody been a staff appraiser for these companies? I could use your insight


Happy Connecting. Sent from my Sprint Samsung Galaxy S® 5
I just wrote about my time a few years ago with a "volume guarantee" in another thread. I think you may want to read it (post #23)
https://appraisersforum.com/forums/...-on-approved-lists.219389/page-3#post-2824235

Although I wasn't staff, they treated me as such basically except with no benefits!
 

bnmappraisal

Elite Member
Gold Supporting Member
Joined
Nov 9, 2011
Professional Status
Certified Residential Appraiser
State
Florida
Depending on your starting point and the area you are expected to cover this seems like a fairly tight schedule and one that will lead to quick burnout
Yup!
Under what sounds like a "quota" system your time will be theirs until you complete your work and they probably aren't going to care if it takes you four hours, six hours or eighteen hours per report as all they will want is your minimum of six competed reports per week.
Yup! especially (my bold)
 

Tom D

Senior Member
Gold Supporting Member
Joined
May 22, 2015
Professional Status
Certified Residential Appraiser
State
Pennsylvania
a former appraiser of mine went for the staff appraiser with a large bank. this was before USPAP. She had to do 10 a week, although easier then still burned her out. if you think that the work load is normal, or part time, then you have a job. if you seem to working all the time to meet the quota, then you have a factory job. also, remember to make the bank masters happy with your values. another problem if your appraiser butt is tight.
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
You could work for the state, 37.5 hours, holidays/vacation/real benefits and make $43k......and no 6 a week quota.....
 

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Salty

Member
Joined
Mar 12, 2010
Professional Status
Certified Residential Appraiser
State
Pennsylvania
I can't imagine completing that kind of volume in my area under a quota system. It took me an hour to derive a bath adjustment last week. Few cookie cutters here. Kind of off the subject, but I sometimes feel like if it takes hours of scouring data and phone calls for a single adjustment, perhaps I should just consider it qualitatively. I guess if I had a quota I would definitely have more qualitative items. Its always the guy with the extra acre and crazy addition on a busy street that wants to refinance.
 

A K

Elite Member
Joined
Jul 31, 2013
Professional Status
Certified Residential Appraiser
State
Maryland
$90k-$95k salary for six per week is the most reasonable staff appraiser job I heard of. Actually, @Digger88 said there was a staff job for $120k but I am thinking it is not a field appraiser position.
 

A K

Elite Member
Joined
Jul 31, 2013
Professional Status
Certified Residential Appraiser
State
Maryland
Depending on the benefits (which are probably not bad as a Chase employee), that $90k-$95k is probably similar to billing about $120k self-employed.
 
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