Strategies for raising fees

[Non Sequitur]

Posted on Facebook today:

 

[WestMichiganCG]

Glenn and I when young, to compete with old geezards, we would lower our fees to get assignments. Profits were less and hard work but youngings had more energy and willing to get established for long term. The future of appraising is not promising and youngings may want to consider instead of spending the efforts, time, and opportunity costs in the new appraisal career.
Us old dinosaurs knew the good old days when there were more profit appraising and hate to be taken advantage by clients and not being compensated.

Not sure how many young appraisers are out there. I was one of the younger attendees at the last Appraisal Institute Chapter Meeting and I'm 50. I think there is some hard core attrition coming on the residential side.

 

[glenn walker]

Posted on Facebook today:


View attachment 106098

I hope you have other financial resources because nobody's going to pay you $200 more in California unless your out in the boonies. In the Cities and large Suburb's there's an overage of appraisers grabbing every order they can.

 

[Tom D]

I almost think you have to do a couple first. Then decide how much, or just shoot yourself. Some of my direct lenders will listen, if i cry enough. But, I'm not sure how the others non AMC portals will handle it. But at my great age i'm not going back full time anyway. Have transitioned back to my old rehab/flip days.

 

[Trihard]

AMC's will 100% do everything possible to cut your pay. The reason being is, if they cut your pay, they then make more profit. We are going to have to fight them very hard.

 

[glenn walker]

Deleted.

 

[glenn walker]

Don't pay much attention to the Fake Book crowd the guy who posted probably it trying to get his competition to price themselves out of business. Lmao )

 

[Non Sequitur]

AMC's will 100% do everything possible to cut your pay. The reason being is, if they cut your pay, they then make more profit. We are going to have to fight them very hard.

Yep, especially the AMCs owned by venture capital.

Like it or not AMCs are squeezing every penny out of indie appraisers, that's their business model, and REVAA and its minions will not give any ground. Those lucky enough to do business with direct lenders have a shot but the idea of "more than double" is pollyannish at best.

 

[J Grant]

Yep, especially the AMCs owned by venture capital.

Like it or not AMCs are squeezing every penny out of indie appraisers, that's their business model, and REVAA and its minions will not give any ground. Those lucky enough to do business with direct lenders have a shot but the idea of "more than double" is pollyannish at best.

Once again, more than double wrt fees is not achievable, and it is gaslighting to present it that way.

I was not lucky enough to do business with direct lenders. I used the strategy I suggested to her to get better pay even when I was stuck in AMC work after the HVCC, and I used a lot of personal savings to sustain me while I cut some of them out and went for direct lender work. I also happen to be an appraiser who can problem-solve and handle a variety of assignments. I am not a perfect appraiser and probably lower tech than others, but I know a lot about how to pick comps, explain market behavior, and develop a report that will stand up to challenges, having done several hundred field reviews after the bubble burst. I sold as a RE agent prior to apppraising was fortunate to have had two SRA cert gens back when I trained. But even that was not just luck - I quit a puppy mill fee shop giving horrible " training" two weeks after being hired - many others stayed.

People who do AMC work can do whatever they want. Same for those who do lender work who do not use an AMC. But esp for the AMC appraisers who are so vastly underpaid now, a modest fee raise ( 15- 20-25%? Whatever -) will not mean they will suddenly dump appraisers and appraisals.

 

[Non Sequitur]

Once again, more than double wrt fees is not achievable, and it is gaslighting to present it that way.

It's a direct quote from the appraiser who completed the first 3.6 report. Like it or not THAT is what is making the rounds online.