Reasonable yet?

[Sulago]

Been away for a little over two years and an AMC I used to work for has asked me to do appraisals for them again. I was wondering if 'Customary and Reasonable' has actually become Customary and Reasonable while I was gone ?? Will my request for $300 be considered reasonable, or are AMC's still expecting to take more ?

 

[sandpiperapp]

Been away for a little over two years and an AMC I used to work for has asked me to do appraisals for them again. I was wondering if 'Customary and Reasonable' has actually become Customary and Reasonable while I was gone ?? Will my request for $300 be considered reasonable, or are AMC's still expecting to take more ?

USPAP, UAD, CU. Thats an awful lot of letters for only 300.

Oh yeah, dont forget about MLS, and E and O.

AMC's will always want more.

What does it cost you to produce a credible report that includes all of thier additional assignment conditions?

 

[Sulago]

Cost to produce credible report ? I figure $530. Since when does that matter to anybody ?

An Appraisal got me $350 in 1992 when I started, last one I did for an AMC two years ago got me $245. Non-AMC I still get $350. How that makes sense to anybody anywhere is beyond me.

So judging by your answer, you are getting a lot more than $300 for AMC work ?

 

[Pilgrum]

Cost to produce credible report ? I figure $530. Since when does that matter to anybody ?

An Appraisal got me $350 in 1992 when I started, last one I did for an AMC two years ago got me $245. Non-AMC I still get $350. How that makes sense to anybody anywhere is beyond me.

So judging by your answer, you are getting a lot more than $300 for AMC work ?

I got that.
I refuse to work for less than I was making 10 years ago.
Frickin AMCs still try to pitch that you can make it up on volume.

 

[Van Gogh]

Many people are working for $300. Just gotta figure if you can. I have been turning down everything under $300 and cant get anyone over $350. I keep getting requests for 1million at $300 LOL Not a chance in hell. I review every request and counter less than 20 percent ( think that is high) come back as a fee assignment.

 

[TJSum]

Typical fees in the Washington, DC area of Maryland are running $400+ these days at a minimum. If you are accepting less, you need to work with full fee clients. I don't accept low AMC fees, and have far less work because of it, but at full fee one can get by with less work, so I am fine with that.

 

[Van Gogh]

Typical fees in the Washington, DC area of Maryland are running $400+ these days at a minimum. If you are accepting less, you need to work with full fee clients. I don't accept low AMC fees, and have far less work because of it, but at full fee one can get by with less work, so I am fine with that.

TJ are you talking lender residential work or non lender?

 

[TJSum]

Lender Residential work (non AMC). Typical full fees are $400+, but I work directly with lenders, so there is no AMC cut. For those doing AMC work, those borrowers are paying much more than that for most appraisals these days, some of the big banks are charging $500+.

 

[Joe Flacco]

I'm charging $400+ for both AMC and non AMC. As-proposed assignments $700+.

 

[Mike Kennedy]

Been away for a little over two years and an AMC I used to work for has asked me to do appraisals for them again. I was wondering if 'Customary and Reasonable' has actually become Customary and Reasonable while I was gone ?? Will my request for $300 be considered reasonable, or are AMC's still expecting to take more ?

Reality Check: "Customary and Reasonable" = whatever Appraisers gleefully accept.