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Raising Fees

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Birdman

Junior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Well business is starting to slow down a little. But I've been working about 70-80 hours long enough. I made the decision to go up on all my fees. I told a broker today my new fee, he got a little quiet, and then said ok. My business will slow down some because of the fees, but I will be working less and making more per report. What a concept...Actually I went up on most of my clients already, and they didn't bat a eye. As far as I know I'm charging as much as anybody in town. I want to charge the most. I put out a good product in a timely manner, and feel I'm worth it. Just a concept to think about.

Steve
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Nah....time to lower your fee and get all the work! :rofl: After all, you can make it up in volume.
 

Steve Wyrick

Member
Joined
Aug 15, 2003
Professional Status
Certified General Appraiser
State
California
Frankly with the price of gas in California, paid $2.14/gal for regular today, I am considering raising my fees. But everytime I have raised my fees in the past I have gotten more business, and I cannot work any harder than I have been. Think I will wait and see if price of gas comes down.

My fee schedule is very competitive with similar experienced good appraisers in the area, if the lenders wants the newbie, trainee or just got their first license who is cutting fees to get business well that's OK, the newbie will learn the hard way.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Increased my fees at the first of the year for the outlying areas that I serve. The cost of data services keep going up, cost of gas keep going up, and it's not easy to work in the rural areas where sunshine has to be pumped in. Lost a couple of AMC clients, but others stayed with me as they like my turn times, and clean reports with few UW call backs. Hasn't really hurt me, like Steve said..... let the newbies cut their throat....... err, I mean fees.
 

Travis McGee

Senior Member
Joined
Sep 18, 2004
Hey Steve- I increased my fees to high end of competing fees in my South FLorida area last year. Did not make a difference as average increase was not that big per appraisal. Our market supports a fair fee for more espenxive homes, but unforunately in my area, I compete against a slew of bottom feeders who charge low prices to attract "volume." Duh. They would get the volume anway, as there are a limited number of appraisers. To all you lowballers out there, why don't you have some self respect and stop hurting our profession? You'd be busy anyway and make even more money.
 
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