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October Surprise?

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Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
Well worth the listen.

 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Thank goodness...I thought it was going to be another political thread.. This is scary stuff ... send it to your board. And fee discussion in this forum needs to be very carefully vetted.
 
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Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Well we already lived through the October surprise, it went on for about 4 years after the crash and the rise of AMCs. The AMCs set fees. How did it affect me? "My fee is $X" and I lost a lot of work to the low fee spread. There always were there always will be other appraisers. I've been offered anything I want to do reports the next county over and I politely decline because I don't actually want to 'learn' a new market just to do a report. The AMCs might not like where fees are, but they were the principle entity that reduced the number of competent appraisers. I imagine the October surprise comes with the AQB reduction in Res Cert requirements which is what the AMCs want. So much for the USPAP preamble "promote and maintain a high level of public trust in appraisal practice....", maybe they can change it to "promote and maintain fast and cheap."
 

chad hampton

Senior Member
Joined
Nov 10, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
Thank goodness...I thought it was going to be another political thread.. This is scary stuff ... send it to your board. And fee discussion in this forum needs to be very carefully vetted.

One thing I never understood - every AMC paid the same low ball fee (more or less) for most of the prior decade, yet no one ever made a big deal about them price fixing. Yet, appraiser's are scared to death to discuss professional fees. Price fixing is everywhere you look, in every industry. If any entity should be investigated for price fixing, it's the AMC's.

AMC's could have come in and worked with us from day 1. But they decided not to do that - instead they low balled us and practically starved us out. Now I have no sympathy for them. They need us, we don't need them.
 

A K

Elite Member
Joined
Jul 31, 2013
Professional Status
Certified Residential Appraiser
State
Maryland
I don't get what the surprise is.
 

A K

Elite Member
Joined
Jul 31, 2013
Professional Status
Certified Residential Appraiser
State
Maryland
Is he saying that it is against independent appraisers? Or is he saying it is coming against the AMC's? I don't understand what he is trying to say.
 
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