Price fixing by AMC's

[TJSum]

How would a legitimate appraisers co-op who's primary concern is secured delivery of unaltered high quality appraisal reports compete with that???

For the most part we can't. We do not have to get a large portion of the business to be successful. The hope would be that there would be just enough "good clients" out there seeking such a service if it was available to them. We all do it locally, if it were taken national it would benefit both sides. The honest appraiser gets by giving this service to local clients, how many times have they asked us if we know of a good appraiser outside of the service area we cover personally. The large and even mid-sized companies might not obtain enough orders, but the small independent appraiser might benefit greatly by using this to supplement the local clients we already have. I would think other types of clients would be attracted to it also, beside Lenders. We just need to come up with an alternative to the AMC option, that provides the "firewall" they are seeking, it would be the best way to fight back The clients who are not interested, that is their problem, we are not marketing to them
We complain about the "system", let's offer them an alternative !!!

 

[Terrel L. Shields]

I think I missed the point about the fact that AMC's exist only because appraisers are stupid enough to work for them. If no one would work for them what do you think the bank would do? Close their doors? or go hire an appraiser?

 

[Pamela Crowley (Florida)]

Good points, TJ.

Terrel, think we could get the co-op members to break the legs of every local appraiser they can find that accepts a low fee with insane turn time from any AMC?

 

[Riick]

Good points, TJ.

Terrel, think we could get the co-op members to break the legs of every local appraiser they can find that accepts a low fee with insane turn time from any AMC?

I can get guys from "dah old neighbahood" who'd work for $125/day each + gas money.
As an honest GMC (Goon Management Company), my markup is a very reasonable $25/goon/day.
What town and which leg? ?? Sure you don't want them to do Arms ?? ....Would sure slow their typing down.

 

[Couch Potato]

Good points, TJ.

Terrel, think we could get the co-op members to break the legs of every local appraiser they can find that accepts a low fee with insane turn time from any AMC?

That would not be done by a co-op. You need a union for that.

 

[Lawrence R.]

I keep talkin, nobody's listenin

Good points, TJ.

Terrel, think we could get the co-op members to break the legs of every local appraiser they can find that accepts a low fee with insane turn time from any AMC?

You don't need all of the appriasers to quit for this to work...there are 2 ways to do it.

Take every deal they offer you and sit on them, and do nothing until they reassign it. They will choke on the backorders.

Only 25% of the AMC business has to go away before they will go away too. They only operate on maybe a 25% margin. We just need them to have more deals than appraisers to do them. Either the fees will go up, or they will go away.

TS is right, banks will go back to hiring appraisers if they can't get what they need from AMC's.

PS it takes 5 days give or take to do titlework, the appraisal and the title work get ordered at the same time. Why do they need ours back in 1 day? To mine it. Slow them down, that will kill them almost as fast as you can stop them.

 

[Tim Vining]

I think it is a great idea to sit on the orders and let the AMC and others choke on the backlog. You should all consider collecting on past work that has been infringed (virtually all) and work to collect royalites on future work.

 

[Workbox]

I think it is a great idea to sit on the orders and let the AMC and others choke on the backlog. You should all consider collecting on past work that has been infringed (virtually all) and work to collect royalties on future work.

Collect Royalties? That sounds sweet. What about pasted infringed Royalties?