No one wants to work

[NJAPRAZE]

For a long time, I've thought that the Lender's and AMC's complaints about an appraiser shortage were over hyped. My suspicion was that there was a shortage of appraisers willing to work really cheap and really fast. Now I'm starting to believe that they have a point about a shortage. Today, I got a call from a friend who works in a small AMC. They have been unable to find someone who was even willing to quote a fee for an appraisal at the beach. It's well outside my service area... but, I probably could have gotten any fee I asked for. As an old manager used to tell me (back when fees were $300 or so, if every appraiser charged $500 or more, then lenders would be paying $500 or more.

may be that appraisers are refusing to work for AMCs and are not willing to waste time providing 'quotes' (especially for complex props) in what has become a "bid race to the bottom" ??? appraisers can be more productive soliciting potential clients that actually place direct orders... There is a REASON AMCs bid out rather than just assign to you (w/right to counter etc.)

 

[TC]

Maybe not entirely, but I have been contacted by a few mtg brokers lately who order directly. Meeting with 1 in 2 weeks to talk to the brokers in his office. Currently have 2 that send me orders on a somewhat regular basis (1-2 a month). I think everyone is fed up with the system that the banks and gov't created.

I hope it works out for you.

 

[Elliott]

This sign greeted me as I picked up Sunday breakfast at McDonalds:

 

[NC Appraising]

For a long time, I've thought that the Lender's and AMC's complaints about an appraiser shortage were over hyped. My suspicion was that there was a shortage of appraisers willing to work really cheap and really fast. Now I'm starting to believe that they have a point about a shortage. Today, I got a call from a friend who works in a small AMC. They have been unable to find someone who was even willing to quote a fee for an appraisal at the beach. It's well outside my service area... but, I probably could have gotten any fee I asked for. As an old manager used to tell me (back when fees were $300 or so, if every appraiser charged $500 or more, then lenders would be paying $500 or more.

No shortage of appraisers.

I know an owner of a mid-sized AMC. He said (2021) that appraisers are just declining the orders and that he wished that they would just accept them at a higher fee.

I turned down 4 this month from the above AMC. Typical Friday at 5 pm appraisal dump. There go to appraisers will not accept them...all four had potential value issues or no comps.

I told him the fee was not the issue. The issue is that appraisers are tired of dealing with AMCs, agents, sellers and buyers when we know we are going to come in low. Appraisers know what happens when we come in low. The agent and the lender has to close of a relationship, and we get blacklisted. So, if you are a number hitter, no problem.

So maybe there is a shortage of HONEST appraisers, or too many on the do not use list by the lender and the re agents?

Secondly, complex properties. Where do I start. Way too much risk. Stips, UAD/UW questions value....ETC. If I could just turn in a complex report and leave it up to the lender if they want to lend on it I would do them all day long. Never the case.....headache waiting to happen.

The system needs to be fixed.

 

[TC]

This sign greeted me as I picked up Sunday breakfast at McDonalds:

View attachment 67469

Short staffed sounds like a medical condition.

 

[Overimprovement]

not willing to waste time providing 'quotes' (especially for complex props) in what has become a "bid race to the bottom" ???

This is me to a tee. For new clients, I will bid on 2 or 3. I bid fair prices. If I don't get any, I am done.
For existing clients, (the ones where I bid, which is only a few ), I need to maintain about at least a 33% 'get' rate, or I am done with bidding even for existing clients. I simply don't have the time to play games.

I know the clients that send out bids (even those I get many direct assignments), and based on where it is and complexity, often if I just ignore the initial bid, I will see a 2nd email the next day. Boom, now I know they are desperate and will accept a higher fee--those I do bid on more often.

 

[Terrel L. Shields]

Short staffed sounds like a medical condition.

That's why I don't zip up my pants anymore, Shetland's can get over the barn door sill anyway. As a sign in the bathroom at 7 Falls once said, "Bulls with short horns stand closer."

 

[George Hatch]

We can blame other appraisers but the harsh truth of it is that these AMCs compete with each other for the lenders' business and the lenders compete with each other for the borrowers' business.

When banks compete the borrowers win
When AMCs compete the banks win
When appraisers compete the AMCs win

Simple as

 

[Tiffany Gibbons]

True. It is what it is. And to be frank, some clients ask for it. Chief appraisers with respectable banks more or less lay that down as a precursor to doing business with them. And within these ranks you find the rest of the leadership for the appraisal system. So, if you ask me it sucks. But it is what it is.

There's a trainee program for lobbyists?

 

[Tiffany Gibbons]

How much was rent 22 years ago? 300% less? Stop cheating yourself and all of us appraisers.

Yes Amy! Totally agree.