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Professional courtesy

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Willie

Senior Member
Joined
May 30, 2002
Professional Status
Certified General Appraiser
State
Tennessee
I have had my homes appraised several times over the years for purchase/refis. Not once has another appraiser offered a professional courtesy discount. I'll admit I haven't had to appraise another appraisers house, at least I don't ever remember doing so. I know we all compete. Have any of you been faced w' this or considered it. Many say we are not considered professionals. I don't have an opinion on that. But a Doctor would never charge a Doctor, in my community. I don't know about accountants, lawyers.

PS, one of my best friends, who is an appraiser, did my grandmothers house when she died and did not charge my parents. But we are close friends. I'm not talking about such an example. I mean, the appraiser down the road, that you have heard of, but don't know very well. What is your policy or what would you do?
 

TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
If the other appraiser does all the leg work, I'll do it gratis. If, on the other hand, he is a real jerk, full fee and 2 weeks late.

Seriously, I had mine appraised by a friend and he charged nothing as I did most of the leg work; ie: floor plan, comp photos, and comp data. Had a rental property done, didn't know the appraiser all that well and he charged full fee. All depends.

TC
 

Mike Simpson

Senior Member
Joined
Jan 30, 2002
I've been asked to discount my fee so many times it makes may head spin.

When it comes to a client--sure, but not all eight of their homes!

I feel at this point in my career, I've more than paid my dues. There's no way I'd discount an appraisal for another appraiser (sorry, nothing personal, strictly business).

Many newbies are working for far less than I did over 10 years ago. In the meantime everything with a price is going up, and fees definately haven't risen commensurate with inflation. Despite what the Fed is feedin us, my personal inflation index is through the roof over the last 10 years.

Someday I'd actually like to retire, and I'd like to continue my health insurance. Once every two years or so I might actually want to take a vacation (how greedy of me).

As an appraiser you should be aware you're not the only one asking for a discount, many people do. How many times have we heard the borrower say the appraiser "was only here for a 1/2 hour," thereby indicating to our client that we make too much for 1/2 hours worth of work. Of course they're unaware the clients making thousands cause they can't understand the RESPA.

-Mike
 

liznindy

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Indiana
William,

So you are saying, doctors get free health care in your neck of the woods :!:


I charge for an appraisal no matter what the profession of the borrower. They are not my client. However, I have given discounts to my best CLIENTS from time to time.

The last time I did an appraisal for an appraiser friend (as a client) I never received payment. That was the LAST time :wink:
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
William,
Charge 'em by the case.
Use your professional expertise to determine if it should be Bud or Glen Livit.
 

Chris Harrison

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Utah
I've bought and sold 2 homes, refinanced 2 other homes and have always paid full fee!
I never wanted a "friend" doing the appraisal because I never wanted the appearance of influence or pressure to hit the number. 8O Fact is every time I allow the appraiser to inspect the home without knowing I'm "in the business".
Two years ago, my home was being purchased FHA financing and the appraiser was in and out in under 5 minutes, measuring the exterior was another 5 minutes. You should have seen the report. :oops: The sale failed because the borrowers couldn't qualify after all, but I did have a long talk to the appraiser. You should have seen his face when I walked into his office and handed him my business card. :oops: :cry: :oops: He remembered me from the inspection! :oops: I chose not to turn him in to FHA or the State because after talking to him I really believed he would never make the same mistake again. He knew he had made a mistake and he wasn't trying to hit a number, :? just being lazy :? .
When I appraise someones home it is impartial and is the same work weather doctor, lawyer or appraiser. I have done several of my lawyer client homes and it was full fee. Loan officers are the same, don't need the pressure of "promise of more work" :wink: or threat of "no more work" :evil: if it doesn't appraise at expected amount. They would charge me for any written opinion or filing. Both homes I refinanced I paid same as any other borrower at the credit union!
I am willing to give some free advice to my friends and good clients but work product costs full fee.

Chris
(Behind the Zion Curtain)
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
I had my house appraised and paid the full fee with a money order. Now THAT'S professional!! :lol:
 

liznindy

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Indiana
I recently purchased my present home and discovered my fees are too low :wink:
 

Willie

Senior Member
Joined
May 30, 2002
Professional Status
Certified General Appraiser
State
Tennessee
I'm abit supprised at the responses. Charge each other as much. Interesting. Assuming I get an appraisal order on a respectable appraiser, I think I would give them a break, maybe half, I don't know. Anyway, it just seems more classy or professional to me. I've bought several houses and farms/lots and no one has given me a penny off an appraisal in any of my own personal transactions, so I can believe the responces so far. Of course, I have never asked or never will ask for a break from another appraiser.

I'm a firm believer that a workman is worth his wages. I do tend to over pay for good service, in my personal life. However, I would think a discount to a respected appraiser would show a ton of goodwill. Maybe us residential appraisers are so competitive that this goodwill would be dismissed by our colleague and not appreciated. I don't know. Interesting.
 
B

Bemis Pownall

Guest
Appraisers can afford an appraisal.

Many times I have sent my fee back to the homeowner who is down on thier luck, kids in tow and are barely hanging on to the farm. That feels good to help them. I also tell them to shop the loan however...
 
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