Increasing Fees

[Riick]

Actually, I think I lost an assignment recently, due to LOW fees; person from the
bank seemed put off at figure I quoted, but the huff I heard did not say "too high". ((NO, I'm not making this up))

 

[chad hampton]

If you get back to broker work, then you can raise your fee. If they go more towards AMC's, then fees will continue to drop.

dare I say - I wish MB's would start working again? In hindsite, I'd take MB broker work any day of the week. Having to deal with pressure and the other BS still beats not having any work.

 

[starmansf]

You don't need to broadcast some reasonable fee increase, just quote the fee upfront. I tend to keep my fees low, but that's a personal decision. I make up my fees in other ways. I charge for additional work, which a lot of appraisers don't do. I think its completely outrageous for banks to start asking for 6 comps per report. I charge for extra comps; I charge for any bank request that I think is unreasonable. I never bill for additional work. All fees are paid prior to the release of any report.

 

[tom mack]

I would like to send a big thank you to mla085. I have taken your kind advice and utilized it with an assignment. Today, I had an appointment for what seemed like a simple SFR. Show up and find out that the SFR has a multi family unit on the same parcel. I sent an email to the client explaining the situation, developed a preliminary scope of work necessary to complete the report in a competent manner, attached photos and more than tripled my fee. The fee has not been accepted yet, but I already feel victory as I never mentioned "Fee Increase" in the email. It took maybe thirty minutes to compile the email and scope of work and I feel that I communicated to the client why the fee was necessary. I really think this is the way to set fees and presenting yourself as a professional. Thanks again for your advice. I'll update as soon as the client responds to my email. I may lose the assignment, but I won't lose money on the assignment