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Processing Companies

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Well Adjusted

Thread Starter
Freshman Member
Joined
Oct 11, 2007
Professional Status
Certified Residential Appraiser
State
Minnesota
Hello Everyone, I was just thinking it would be nice to compile a list of processing companies and who their clients are. Also we should find out what people are getting from theese companies and stop undercutting each other. Those that I know of are: Quantrix-JP Morgan Chase, RELS-Wells Fargo, I.R.E.P.-HSBC? Some of thses are a lot of work for little money. And I know you can negotiate with them. If we the got the appraisers in a region to work together we could start getting a reasonable fee again. Thsese companies are going to try to push us around and we need to have some leverage with them. Please share your experiences...
Thanks
 

Lloyd Bonafide

Senior Member
Joined
Jan 15, 2006
Professional Status
Certified Residential Appraiser
State
California
Good name well adjusted -

I don't personally work for any AMCs, but I'm all for every gangster / appraiser in a region getting together in a poorly lit, smoke-filled room. Everybody can light up a big stogie, play some cards, and set AMC prices for their area. I suggest $350 for a minimum price, but an area can set theirs higher if they want to. The key is to get every appraiser in an area to go along, and there has got to be some kind of enforcement penalty for those that don't play along.
 

William K

Senior Member
Joined
Sep 21, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
Good name well adjusted -

I don't personally work for any AMCs, but I'm all for every gangster / appraiser in a region getting together in a poorly lit, smoke-filled room. Everybody can light up a big stogie, play some cards, and set AMC prices for their area. I suggest $350 for a minimum price, but an area can set theirs higher if they want to. The key is to get every appraiser in an area to go along, and there has got to be some kind of enforcement penalty for those that don't play along.

Its called price fixing! And it's a NO NO!:nono:
 

Well Adjusted

Thread Starter
Freshman Member
Joined
Oct 11, 2007
Professional Status
Certified Residential Appraiser
State
Minnesota
No, what I see in the future is collusion between these companies to set prices since they will controll so much of where our work comes from. In effect they will have a nutural monopoly. What is needed is a Union to negotiate minium prices and protect this trade from explotation. Unions are to protect professions with very specific work and a limited number of employers. It would also help us with policy issues to make for better appraising. Does this not make sense for us?
 

Brockway

Junior Member
Joined
Mar 8, 2004
Professional Status
Certified Residential Appraiser
State
New York
Nice thought, W.A., but it is impossible to get everybody on the same page. One of my good clients started sending their work through LSI last year. I signed up because my client asked me to. They trust my judgment whether or not their deal works. I refused to lower my fee, though, because I was aware of the extra work required by this management company. They send me orders for several months but stopped sending me work at the end of October.

I was speaking with one of my piers last week. He stated that he was receiving at least one LSI order a day because he lowered his prices. Now he's trying to figure out how he can raise his fees because of the gas prices - DUH!

Bottom line, I have stuck to my guns over the last couple of years and did not lower my fees while my competitors are taking all the work. So who is the smarter businessman? The one who is not making enough money because they refuse to lower their fees or the person is getting all the work but is working twice as hard to make the same amount of money per appraisal? It is a tough choice that we have. If Zaio takes off, the prices will probably go even lower than they are now.
 

William K

Senior Member
Joined
Sep 21, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
No, what I see in the future is collusion between these companies to set prices since they will controll so much of where our work comes from. In effect they will have a nutural monopoly. What is needed is a Union to negotiate minium prices and protect this trade from explotation. Unions are to protect professions with very specific work and a limited number of employers. It would also help us with policy issues to make for better appraising. Does this not make sense for us?

The whole we need a UNION tread has been beaten to death.
But your one comment

"Unions are to protect professions with very specific work and a limited number of employers"

Doesn't hold up for our profession, as we have have numerous potential "employers" (clients).
In addition their are numerous other professions / feilds that have "very specific work and a limited number of employees" that don't have unoins.:peace:
 

Well Adjusted

Thread Starter
Freshman Member
Joined
Oct 11, 2007
Professional Status
Certified Residential Appraiser
State
Minnesota
So W.K. are you happy diong a 1004 for $200? But true enough, there are many proffessions that dont have unions. But thsese likely not trades. Thus the term trade union. Plumbers, pipe fitters, ect. I just see thing heading in a really bad direction with to few of like minded people (minded to pay appraisers less and make more money for the coorp.)controlling so much of the market. What is your solution W.K.? Since you have so much insight into what won't work.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Pammie on 'price fixing', Appraisers cannot.

Appraisers "can't" price fix. An oversupply of
appraisers running around will have significant
downward pressure on appraisal fees.

Even if we tried to price fix, we couldn't pull it off.
 
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