Maryland appraiser fee going up!

[Wayne Henry]

It appears that our appraisal industry is contracting which is what I predicted would happen when they changed the state licensing requirements years ago. I also believe this is happening because of the increasing guidelines required for each appraisal (which appear to change on a daily basis) coupled with the low AMC fee’s. I have turned down more than 25% of the work that comes through my door for the past couple of months due to low fees. I refuse to do any work for low fees and I would say to any of my colleagues in Maryland if you are getting any fee lower than $350 at this point then you are being taken advantage of, PERIOD. We are worth more than that! The increasing requirements, liability, and credential requirement that call for an appraisal certification means we have more room to negotiate appropriate fees. This may turn in the coming months if interest rates go up but as it stands till the end of 2012 it looks far better than 2010 and 2011. I was also informed that licensing requirements will change in 2015. In order to be a new licensed appraiser you will be required to have an associate’s degree and to be certified appraiser you will be required to have a bachelor’s degree prior to applying for either appraiser’s license. If this takes place coupled with older appraisers either expiring or retiring, I predict fees to be double what they are now or they go to a different appraising model on or about 2020. What do you think?

 

[smackodu]

It appears that our appraisal industry is contracting which is what I predicted would happen when they changed the state licensing requirements years ago. I also believe this is happening because of the increasing guidelines required for each appraisal (which appear to change on a daily basis) coupled with the low AMC fee’s. I have turned down more than 25% of the work that comes through my door for the past couple of months due to low fees. I refuse to do any work for low fees and I would say to any of my colleagues in Maryland if you are getting any fee lower than $350 at this point then you are being taken advantage of, PERIOD. We are worth more than that! The increasing requirements, liability, and credential requirement that call for an appraisal certification means we have more room to negotiate appropriate fees. This may turn in the coming months if interest rates go up but as it stands till the end of 2012 it looks far better than 2010 and 2011. I was also informed that licensing requirements will change in 2015. In order to be a new licensed appraiser you will be required to have an associate’s degree and to be certified appraiser you will be required to have a bachelor’s degree prior to applying for either appraiser’s license. If this takes place coupled with older appraisers either expiring or retiring, I predict fees to be double what they are now or they go to a different appraising model on or about 2020. What do you think?

As long as you don't take on another 8 or 9 trainees!!!!