Processing Companies

[William K]

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.

FYI, I haven't been paid only $200 for a full appraisal for over 15 years. (When last I was doing split fee.)
I have been offered assignments for less than my going rate but refuse to lower my fee for others profits! You get what you pay for and appraisers who accept less tend ( not always) to show that in their work!
I come from a UNION household, both parents and brother in-law are part of a UNION. It's not that I am against UNIONS it's that the argument you make has holes in it! Are we a profession or just a trade? Please offer me your insight! Are we employees or are we independent contractors capable of negotiating our own fee's and who we will or will not work for? Please offer me your insight!
OH, and just my personal opinion but I don't think I need to be paying more fee's to have UNION representation

P.S.
I never said I had the answers! However I certainly can respond to posts which don't address an issue fully and addresses issues which have been addressed on this forum numerous times before. Sorry that I just didn't jump on board and say "The Poster is right, this is the answer to all our problems!"

 

[William K]

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.

You have that right, we can't even agree that a comp check is or isn't permitted!

 

[rescom]

Well Adjusted, the question is, do we just want to teach the AMC's a lesson or do we want them gone? Having all appraisers get together to take a fee stand would still give the AMC control over the appraisal and report requirements. I say if your going to do it, then do it big. All it would take is a small percentage of appraisers to do it. What would an AMC do if a small percentage of AMC using appraisers agreed to take a 2 week vacation at the same time? They would crumble in a matter of days and their clients would go to another AMC! Then we move on to the next AMC and do the same thing. We are in control. They cannot exist without us. We need to use this mindset to OUR advantage.

I realize that this is just theory but it could be done if someone tried to ochestrate it. I also realize that William K will be the first to point out the flaws in this idea. William K, we can all whine and mope about the current state of the industry, but that's not going to accomplish anything. I'm sure that once an industry problem has been resolved by someone else, you will be the first to jump on board and reap the benefits, right?

 

[Mr Rex]

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.

Ask the 74000 UAW workers about to be offered a buyout about unions or just about anybody left living in Michigan. Unions have done a wonderful job in ruining the US auto industry, and its going to get worse.

 

[Well Adjusted]

Ok so maybe not a Union, but how do we take controll back?

 

[Kevin A. Spellman]

It all comes down to the loan representatives at the lenders. If the lenders using AMC start to loose the loan representatives and they migrate to their own shops and use local appraisers. These representatives will make more money on their own and they just want to close a loan and not participate in the appraisal fees. The AMC will begin to loose revenue.

The one problem the appraisal industry is exposed to, is the revolving door at the national lenders. The loan representatives come and go. The threshold to become a loan representative is quite low. The promises of making $100,000 plus a year attract every individual and in the past the national lenders have hired anyone who applied.

For Quatrix, they lowered the fee to me to $274.25. I was paid $275 in 1987. The Bank of America fee was $300 with $6 to the appraisal port. LSI wants to make money off my skills and was willing to pay in the $230 price level for the Bank of America work. There is no economic future with Qunatrix, LSI, or EappraiseIT. These AMC prevail with the use of amateur appraisers. I will not provide a service to these AMCs stated above.

 

[Sal Mazzella]

Just received this memo in email from Quantrix.

 

[rescom]

Just received this memo in email from Quantrix.

Replace the z's with n's in your last name and what do you have? Thats funny.

 

[Lee Lansford]

No, what I see in the future is collusion between these companies to set prices...

No need for collusion.

These companies know how low they can offer a fee in any certain area before appraisers say "no".

 

[EVAUSA]

I got this email and registered. It may not be the answer, but it's definitely a start in the right direction:

Hello,
I am a certified appraiser and own a small local firm in Maryland. I have spoken with many appraisers throughout the country about an idea to create an appraiser driven company. I am in the progress of creating an online system that would allow appraisers to come together and have a national presence. This would allow us to compete against the large Appraisal Management Companies, maybe even diminish them. The idea is to use one online system that each appraiser can use to process their orders. With the new FNMA and Freddie Mac changes that will be enforced soon (Home Valuation Code of Conduct), there is no better time to come together and start our own system. If we don't do something soon, we may be completely taken over by AMC's come January 1st 2009. The new system will be an online application that will allow us to process our own appraisal orders, track appraisals, update status, utilize accounting features, credit card processing, check processing, and much more. Many appraisers are coming together to collaborate on this project. By coming together we will be able to take back the industry and receive full fees for orders. We will be promoting nothing but quality appraisal work. Every appraiser will be reviewed for proper credentials and good standing before being approved for the system. We are still in the preliminary stages so ideas are still being discussed and currently nothing is set in stone. Time is of the essence so progress will be made quickly. Once you sign up on the site you will be updated as progress is made. This is our one chance to bring the industry back to the appraisers. If you have any ideas for how this system should work please send me an email to Info@appraisalscope.com. You can join at www.AppraisalScope.com. Please tell any other appraisers you know to join so we can get as much force behind this as possible.


Thanks,
Jordan Rothstein
Certified Appraiser VA, MD