Yeah....this has been presented several times but it never gets traction. Appraisers won't hold the line. The AMC will go here, "I'll give you another $100 to do the assignment" and that appraiser will fold not having their eye on the main prize.
If you got a 3-day stop, Nationwide by all appraisers, that'd be a miracle.
Don't forget, it's not just boycotting working for the AMC's and the lenders who get their fees paid for by the appraiser, you have to go loud and send out press releases to all the major media Outlets so it runs on the 5:00 news.
Here's a letter to send major media Outlets.
Subject: Notification of Strike and Demand for Reform
Dear Lender,
We, the undersigned independent real estate appraisers engaged by [AMC Name], collectively notify you of our decision to suspend acceptance of all new appraisal orders, effective immediately. This collective action results from ongoing conditions that threaten both our professional standards and the viability of our businesses.
Our decision is based on the following critical issues:
Unreasonably low appraisal fees that fail to reflect the expertise, experience, and regulatory requirements incumbent on appraisers.
Excessive pressure for rapid turnaround times, which undermines the quality and credibility of our appraisals by prioritizing speed and cost-cutting over accuracy and due diligence.
Selection practices based on lowest bid rather than qualifications, resulting in the proliferation of substandard reports and driving experienced, ethical appraisers out of the industry.
Interference with appraiser independence, including practices that pressure appraisers to meet predetermined values or risk blacklisting and loss of business.
These conditions have damaged professional trust, lowered appraisal quality, and pose risks to consumers and the broader real estate market. Continued disregard for fair compensation and independent judgment makes it unsustainable to provide reliable valuation services under current terms.
Our main demands:
Set minimum fee standards that reflect customary and reasonable appraiser compensation for each market.
Grant adequate time for each assignment to ensure comprehensive, USPAP-compliant appraisal reports.
Prioritize the selection of appraisers by qualifications and geographic competence, not solely by lowest fee.
End threats, intimidation, or retaliation against appraisers for delivering unbiased and accurate valuations.
This action will remain in effect until [
Lenders whom utilize AMC's commits in writing to address these concerns and engages in meaningful dialogue with our representatives to establish updated policies and practices.
We take this action reluctantly, recognizing its impact on clients and the market, but see no alternative to preserve the integrity of our profession.
