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NY, FirstAM & WaMu article

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Why do appraisals for an AMC when you can do them for a guy like this?

This connection was made off Craig's list:



"Thank you for replying to the ad for appraiser needed. We have been extremely busy, so I apologize for not replying sooner.



We are a residential real estate appraisal company based in Southern California that has been in business for 20 years. Our clients are predominately AMC’s (Appraisal Management Companies) that deal with all major lenders. We are not working with mortgage brokers and there are no “Comp Checks” and no “hitting the value”. We appraise properties for what they are really worth and the banks need to know this in the current climate of the real estate market. Much of our work is default/foreclosure REO appraisal work. Experience with this type of work is a big plus. We use ACI Software, no other software will be accepted. This is a requirement of our clients.



We have a staff that will set your appointments for you at what ever times and days that you tell them.



You do not have to worry about collecting fees, bill us and we will pay you, no chasing mortgage brokers around for your money.



No Comp Checks or values to hit.



We have a large volume of work, you can have as much as you can turn in quickly.



We require an extremely quick turn around (same day or next morning after viewing property).



We should be able to keep you fairly close to your home



Independent Contractor Fee schedule:



Full appraisals 1004, Condo form $100 REO addendum pays $10 more

Full appraisals Form 1025 1-4 units $175

Drive by Appraisal Form 2055 or 1075 $ 50



We do realize that these fees are significantly below what you are used to collecting. Lets face it, there is not a lot of work out there and the competition for this business has become pretty fierce. We have secured volumes of work by lowering our fees and turnaround times to all time lows. The way that things are currently going, this is the only way that we can get the work. Please reply if you are interested"
 
We do realize that these fees are significantly below what you are used to collecting. Lets face it, there is not a lot of work out there and the competition for this business has become pretty fierce. We have secured volumes of work by lowering our fees and turnaround times to all time lows. The way that things are currently going, this is the only way that we can get the work. Please reply if you are interested
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This is what's killing the business right now. If these people wouldn't give in to pressure to lower fees and give in to 24 hour OR LESS turn times. I could do it but I'm not busting my butt day in and day out for $100/day (could only look at and complete 1 a day) when I can do something else and make 300-500/day working 9-5 and have my weekends off.

Guess it's time to hang up the appraisal business for a while (except for those few full fee clients I still have)
DaveT in NC
 
The saddest part abouty the above post is!!! I bet they have takers!!
 
I suppose I'd do the $100/URAR stuff if I could make a profit at it without taking a hit in work quality or chosen lifestyle.

I can't so I won't.
 
I told my wife about the $100 fee and she said "it's better than nothing at all" uuhmmmm.....so I filed for divorce :rof: Just kidding.

Said I rather be a Valet Parker for the same pay and no liablity and probably some much needed exercise than take that pay.


Full fee or the day off. :icon_mrgreen:
 
Assume the government gets 25-30% for taxes, then you pay fuel and mileage costs, vehicle maintenance, phones, computers, software, E&O, health and other insurance, MLS, association fees, licensing, cont. ed.. When costs of doing business are factored in, you net less than 50% of minimum wage. You would be at least 50% better off asking if they want fries with that.
 
Poor fools.

Our shcool system quit teaching thirty years ago.

We now have three generations me, me, me and me. If used toss it out and buying something new. Its all about me and something new.

We namufacture very little in this country, we inport just about everything.

Our Boarder is a dam full of holes and when they get through they work for cheap or get it gave to them by the goverment.

Everyone wants something on the cheap.

How much longer tell we have two classes of people? Rich and Poor and become a third world nation?

Tell the masses they can work for those fees. Just like the lemmings they are runing for the edge.

Soon I will have my garden, my three beef critters, Bull, cow and dinner, a few chickens. At that time I will lay my .32 Win. and shoot the first one that tries to take my food or winchester from me.

Its just not this profession thats in trouble, its accross the nation. Congress sits and does nothing for the common man. They line thier pockets with our silver and gold. They have been placed in power by those with the real power.

These people are scamers and con men, they reap the profits, while the poor toil and spin in the wind at there will.

Poor fools for what ever reason they work for such low fees.

I did not get three orders today because of my pricing. So be it.
 
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