The Appraiser's Co-Op

[Amy Perkins]

I am designing a platform and it will be a true Cooperative owned by appraisers. I have outlined the details on a private site on facebook. This is for individuals who are independent appraisers. It WILL INCLUDE...

BIDDING PLATFORM
SOFTWARE BUILT BY US INDIVIDUALS ONLY
LOAN OFFICERS, INDIVIDUALS AS PARTNERS IN THE CO-OP
SOFTWARE/SYSTEMS ENGINEER AS PARTNERS IN THE CO-OP
REVIEW PROGRAM FUNDED BY DEI/GOV TO REDUCE LIABILITY FOR LENDERS AND APPRAISERS BY CERTIFICATION BY SPECIALLY TRAINED PSYCHOLOGIST. DEI FUNDS WILL BE USED TO PAY FOR THE REVIEWS
FEE TO THE APPRAISER
PROFIT SHARING
PLEASE ADD THIS PRIVATE FB PAGE TO SEE THE DETAILS

Log into Facebook

Log into Facebook to start sharing and connecting with your friends, family, and people you know.

www.facebook.com

This is preliminary and subject to change once membership is formed and costs will be determined by actual these are estimated

This will reduce liability for lenders, appraisers, and provide customary and reasonable fees. I need help

Domain has been purchased

There is one that is private for appraisers and one that will be publicly shared with loan officers.

 

[sputnam]

Good luck. The hard fact is if you are performing a service, you have to extract some revenue in order to pay people. No one is going to work for free.

 

[J Grant]

Idk what the point of this is, though I wish the OP's luck.

What are appraisers "owning" in this co-op?

There are already platforms for lenders to use such as Mercury, Appraisal Appraisal Port etc and some of those platforms have a section for bid submission. If a lender wants to be assigned by an AMC, then there are plenty of those around. An appraiser is free to submit bids of their own accord to get work as it stands now, if a bid is part of the gateway to getting an order -

 

[Tom D]

Amy is a great person. I do not like the term 'bidding platform'. I do not bid on anything. You like me, you like my fee, period. How about instead, a 'fee platform'. Amy, we are in a death spiral with a lot of big AMC who will dominate. Trying to get some shelf space away the major brands is almost impossible in any product line. How can there be a profit unless you are taking away from a grand appraisal fee.

Knowing who you are, i believe you can do something here. I will be following you.

 

[J Grant]

I wish the OP well and would rather see appraisers get any third-party or middleman profit , but the party is almost over with half-empty beer cups being fought over.

The appraisers who get direct orders from lenders typically are on an approved panel and get a C and R rate and are not bidding to get noncomplex orders. If they are asked to bid on an assignment, it is a complex/atypical one. The appraisers who sign up for and get work from an AMC submit bids to the AMC ( or get their fees compared when the AMC selects for an assignment.) So why they need to join a co op to submit bids to an AMC makes no sense.

Maybe the OP plan involves something else or is meant to reach a retail market such as RE agents, or other sources of work.

 

[Dublin ohio]

I don't and won't do Facebook. But that being said. Including loan officers as part of an "appraiser" co-op to me is problematic at the best. Developing software and building and maintaining a viable platform is going to take a lot of dollars. Probably into the tens of thousands

 

[alebrewer]

Great idea, Amy. Me and a couple of other folks WAY more knowledgeable than me, built a forms software package that integrated with local MLS a few years back. We were about $1M in when the GSE's said they were updating the forms. Ended up shuttering the thing. Question: do you have VC to back the development of the site, software, and OMS platform?

 

[sputnam]

Amy is a great person. I do not like the term 'bidding platform'. I do not bid on anything. You like me, you like my fee, period. How about instead, a 'fee platform'. Amy, we are in a death spiral with a lot of big AMC who will dominate. Trying to get some shelf space away the major brands is almost impossible in any product line. How can there be a profit unless you are taking away from a grand appraisal fee.

Knowing who you are, i believe you can do something here. I will be following you.

Agree. I don't bid. If asked, I will tell someone what my fee for an assignment is. They can try to negotiate if they want to. My fee is my fee.

 

[Non Sequitur]

Anything is better than the mess we have now with AMCs-pseudo appraiser firms and National appraiser firms-pseudo AMCs locking up some markets.

 

[Functional Obs]

I am designing a platform and it will be a true Cooperative owned by appraisers. I have outlined the details on a private site on facebook. This is for individuals who are independent appraisers. It WILL INCLUDE...

BIDDING PLATFORM
SOFTWARE BUILT BY US INDIVIDUALS ONLY
LOAN OFFICERS, INDIVIDUALS AS PARTNERS IN THE CO-OP
SOFTWARE/SYSTEMS ENGINEER AS PARTNERS IN THE CO-OP
REVIEW PROGRAM FUNDED BY DEI/GOV TO REDUCE LIABILITY FOR LENDERS AND APPRAISERS BY CERTIFICATION BY SPECIALLY TRAINED PSYCHOLOGIST. DEI FUNDS WILL BE USED TO PAY FOR THE REVIEWS
FEE TO THE APPRAISER
PROFIT SHARING
PLEASE ADD THIS PRIVATE FB PAGE TO SEE THE DETAILS

Log into Facebook

Log into Facebook to start sharing and connecting with your friends, family, and people you know.

www.facebook.com

This is preliminary and subject to change once membership is formed and costs will be determined by actual these are estimated

This will reduce liability for lenders, appraisers, and provide customary and reasonable fees. I need help

Domain has been purchased

There is one that is private for appraisers and one that will be publicly shared with loan officers.

You lost me at "bidding platform."