The Appraiser's Co-Op

[Non Sequitur]

You lost me at "bidding platform."

On the retail/portfolio side residential bidding is common.

 

[Functional Obs]

On the retail/portfolio side residential bidding is common.

Sure, but at some point you have to stop auditioning for work.

 

[J Grant]

On the retail/portfolio side residential bidding is common.

What retail/portfolio work are you referring to?

Lenders who order directly for GSE loans typically have an approved panel of appraisers and pay C and R the same fee for noncomplex orders for a panel. I do see lenders asking for fees or bids on complex or high value orders

AMC asks for bids on noncomplex orders and on cheap products like ext/short form appraisals.

Private clients or commercial work; typically, an appraiser submits their fee for approval.

 

[alebrewer]

Not all lenders have 'fixed' fees (i.e. some use the bid process), and not all AMC's use the bid process (i.e. some have fixed fees). This should not be a difficult concept to grasp, but some like the false narrative that spinning it that way produces.

 

[J Grant]

Not all lenders have 'fixed' fees (i.e. some use the bid process), and not all AMC's use the bid process (i.e. some have fixed fees). This should not be a difficult concept to grasp, but some like the false narrative that spinning it that way produces.

Fixed fees are not the same thing as C and R Fees, which are surveyed annually, and then applied for a panel in a region at MOST lenders for GSE loans - and those lenders will ask for a fee or bid for a complex or high value loan, I already said that.

The only AMC;s I am aware of with "fixed fees" are cost plus AMC;s usually owned by a lender, and they might fee compare or ask for a bid as well.

No false narrative-

 

[Non Sequitur]

Sure, but at some point you have to stop auditioning for work.

I get it. But that side isn't immune from fee sensitivity and when I sat in that desk it wasn't blast emails, the bid was sent to one appraiser for an oddball.

 

[Functional Obs]

I get it. But that side isn't immune from fee sensitivity and when I sat in that desk it wasn't blast emails, the bid was sent to one appraiser for an oddball.

I enjoy reading your posts throughout this forum (and most recently on the "Cindy Chance" thread), so I'm not going to continue arguing with you.

I will just point out that the app she is proposing places the focus on price and probably speed, and I've already seen that movie. Thankfully, I am maxed out on high-paying private work and won't have to visit whatever she builds.

I would rather see a directory of good (i.e. they meet some pre-determined criteria) appraisers with more than just a few words and details about what you would get if you hired one of them (beyond the price/turn-time).

 

[alebrewer]

C and R Fees, which are surveyed annually

You really believe folks are doing this?

 

[Non Sequitur]

I enjoy reading your posts throughout this forum (and most recently on the "Cindy Chance" thread), so I'm not going to continue arguing with you.

I will just point out that the app she is proposing places the focus on price and probably speed, and I've already seen that movie. Thankfully, I am maxed out on high-paying private work and won't have to visit whatever she builds.

I would rather see a directory of good (i.e. they meet some pre-determined criteria) appraisers with more than just a few words and details about what you would get if you hired one of them (beyond the price/turn-time).

Understood, and thanks for the compliment. #TeamCindy

 

[J Grant]

You really believe folks are doing this?

Yes, I get a few fee surveys a year, and the direct lenders might survey me or use their own surveys or base their C and R on VA fees.