No Appraiser paid fees on invoice?

[andrew81]

View attachment 46899

guess i should get that USPAP update done by June 30th as required by my state

im still going to use my previous statement but omit the word "procurement"

- A Mercury Network transaction fee has been paid for this assignment.

 

[bnmappraisal]

Andrew, I don't think it hurts, especially if your state requires you to disclose the appraisal/appraiser fee

Here in FL, there is no requirement, but if so, I probably would do similar to you (i.e.):
Appraisal Fee: $XYZ
Appraiser Fee: $XXY
Portal Fee: $YY

 

[Tim The Enchanter]

By this time next year some of us may be begging to pay a portal fee : ) LOL

Or saying FIRE!

F*** It Retire Early.

 

[Terrel L. Shields]

I was asked by a client to use Mercury and I said, "No" - they are a time consuming money grubbing site and I don't play that game. Same with RIMS...poor communication, constant hassle.

 

[bnmappraisal]

I was asked by a client to use Mercury and I said, "No" - they are a time consuming money grubbing site and I don't play that game.

Depends on the client, Terrel. I've had a lot of success with Merc Net, even gaining a couple clients b/c of them
I set the fee for my products (i.e. 1004, 1073, etc) I know you've stated before you don't do those products
Some of the clients I have on there cover the Merc fee, others do not ... I've got my fee(s) set to offset the difference

As far as communication/constant hassle ... most (about 90%+ in my experience) are professional and do NOT hound me
Communication is usually simply keeping them updated once I set the appt and sending the report on/close to the "due date"

That's been my experience with Merc Net

 

[Terrel L. Shields]

usually simply keeping them updated once I set the appt and sending the report on/close to the "due date"

which in a commercial report could take up to a week or 10 days work...how many times will they auto ding you? RIMS was not bad at that but they had you fill out pages and pages of crap and then the lenders were forced to bypass them entirely or tell them to use me regardless bid to get complex commercial orders in. One client switched to RIMS, sent reams of bids and I did not win one single bid. Then when I exited the system they called wanting to know why and I told them I had spent enough time bidding to do an appraisal and hadn't made a dime. So they call back admitting they showed me doing appraisals in only 1 county (that was RIMS for you...I was supposed to pay for extra counties. I can be in 5 counties in 15 minutes.) and that was for vacant land only...no, I signed up to do poultry farms and commercial ag properties. I sick of such games. Since they asked me to be on the list for the complex properties in Oklahoma, it going to be fun to see what the Tulsa appraiser whack them for a vacant land appraisal 10 miles from my house. Ask me if i care.

 

[glenn walker]

Who cares 1

 

[Tom4value]

Hi. I’ve been doing reports through Mercury Network. Mercury charges a processing fee to the Appraiser. On my invoice I have the 1004 fee.
On a sub-line I write (Mercury fee $xx.xx). This fee is paid by me out of the total fee stated. Recently, the lender hiring me through Mercury is requiring that I make NO mention of the fee I have to pay. Only the total amount for whatever form they order. Question: why won’t they allow me to note the fee I am paying on my invoice? Is this something non-transparent? I AM actually getting paid my fee subtract the processing fee I pay (net $). Thoughts please?

 

[Tom4value]

Why do you feel you need to put it on the invoice? The invoice is going to the client. The client has nothing to do with the portal fee so it is none of their business.

 

[Bill75]

I use Merc Net, too. I actually like it because I've gotten some decent clients over the years through using it
Some clients pay the fee, others do not. I have my fee set to offset that discrepency
I do not state the Merc Fee on the invoice - it simply states $XYZ

I do exactly the same, increase your standard fee to what the upload fee is. I have never had one of my solid client balk at doing this. If they do...dump em.