Need To Increase Volume!

[factsandtruth]

I guess the next question is where do I find AMC's? Is there a list somewhere?



When I say $200 is my bottom dollar, I'm not saying I want to work for that long-term. I have to pay the bills for now. I have three which pay $300 or better, but the volume is not there. If they sent me ten a month that would be fine, but it's not even half that. Until I find decent AMC's or non-lender work, I need something to just get by.

It's going to take time and effort...the good clients are not going to fall in your lap. $200 for an appraisal will have you applying for food stamps.

 

[Johnny Knucks]

Actually, $200 x 5 is $1,000 per week. I can live on that. That's not the goal though. I'll keep looking until I get $300 or better. That's my true minimum, but I have to survive until I can find them. So if someone sends me an appraisal order for $200, I'm taking it. Today. Maybe not a couple months from now, but today, I don't have much choice.

 

[Roy Courtney]

Actually, $200 x 5 is $1,000 per week. I can live on that. That's not the goal though. I'll keep looking until I get $300 or better. That's my true minimum, but I have to survive until I can find them. So if someone sends me an appraisal order for $200, I'm taking it. Today. Maybe not a couple months from now, but today, I don't have much choice.

I have no clue about your market area. Just for what it is worth I would not recommend that you earn a reputation as a $200. appraiser. In my market that type of reputation would cause you to never get on any local bank or credit union panel. The Realtors and mortgage brokers would shun you and the other local appraisers would never refer work to you. When your name is mentioned there would be the rolling of the eyes and the snickering behind your back. You will loose a lot of credibility and that credibility is what will make your future or cause you to fail. Just my silly opinion! Wish you the best!

 

[JTip]

Actually, $200 x 5 is $1,000 per week. I can live on that. That's not the goal though. I'll keep looking until I get $300 or better. That's my true minimum, but I have to survive until I can find them. So if someone sends me an appraisal order for $200, I'm taking it. Today. Maybe not a couple months from now, but today, I don't have much choice.

If a client sends you a $200 order today, you can darn sure bet you won't be paid for at least 45 days.

Maybe offer them to PayPal you $100 today for an appraisal tomorrow.....

Good luck Knucks, it's tough out there.

 

[J Grant]

I'm going to be practical and address the OP on practical terms of his actual situation. My advice is, just apply to every major AMC. Proteck and PCV Murcor and LPS (former LSI, now service link) have an almost unlimited supply of lower fee work. Lists of AMC's can be purchased for not a lot of $, just do a search on internet.

After you get enough work to sustain for monthly needs, then start expanding your client search, including those AMC's that pay better than the list I mentioned . (PS, I used to do work for two of the AMC's on above list and do zero work for any of those three now). The point being, you can use these companies the same way they use us, as replaceable. You may want to retain one of the least odious for backup work, or not, as you gain better clients you can afford to turn most of the lower fee work down, or counter to these companies with higher fees and sometimes they pay it.

 

[Joe Flacco]

I have no clue about your market area. Just for what it is worth I would not recommend that you earn a reputation as a $200. appraiser. In my market that type of reputation would cause you to never get on any local bank or credit union panel. The Realtors and mortgage brokers would shun you and the other local appraisers would never refer work to you. When your name is mentioned there would be the rolling of the eyes and the snickering behind your back. You will loose a lot of credibility and that credibility is what will make your future or cause you to fail. Just my silly opinion! Wish you the best!

This is exactly how I feel about it. No way I'm putting my name on any appraisal starting in the $200's. Better to build your reputation and client base the right way from the start.

I say you drive that motorcoach to AC. Others on this forum have suggested driving for Uber. On the news they were saying Uber drivers make pretty good income.

 

[Joe Flacco]

Actually, $200 x 5 is $1,000 per week. I can live on that. That's not the goal though. I'll keep looking until I get $300 or better. That's my true minimum, but I have to survive until I can find them. So if someone sends me an appraisal order for $200, I'm taking it. Today. Maybe not a couple months from now, but today, I don't have much choice.

That's $4,000 per month minus $1000 in minimum operating costs equals $3000. Minus 25%- 30% to the IRS. That leaves you about $2000 - $2200 per month. I dunno where in Maryland you live but that probably barely even covers the mortgage.

 

[EddieB]

I was at the flea market this weekend and saw this guy selling bluebird houses. Not the cheap looking ones either. He was selling them for $5 ea. I remarked, "how can you sell them so cheaply, it has to be below cost?"

He said, "Yes, it costs me over $7 each, but what I lose per unit, I make up for in volume."

Tru storie......

 

[The Warrior Monk]

At the $200 fee level, it might be better to work with a larger appraisal firm that handles both residential and commercial appraisals. With a better firm you'll get some volume, and you still we be making greater than $200 even on a fee split basis.

 

[JTip]

Another true story:

Working on a project that is acquiring this fella's bait machine near a small lake (taking land too). Hasn't been operational for several years now for various reasons. But talking to him on the fly (casual unofficial conversation) about the machine, he said he sold $400 in bait on Friday, $400 on Saturday and $300 Sun-Thurs.

Screw appraising, I'm diggin' for night crawlers.