Sent this guy (a CG appraiser) my resume and list of recent assignments this morning. He just called me and here is the scoop:
$350 for a 1025
$250 for a 2055
$200 for a follow up
He supposedly has 5 appraisers including a CG who are making $1,000/week. OK, sounds like a decent deal, wants someone to work in Detroit. Doesn't sound as good. It is all Fannie Foreclosure work. I would think they would want good quality reports.
BUT.....here is the catch:
Those fees are before the fee split...
For the first year he pays 30%....he takes 70%. So for a 1025 you get a whopping $105, in Detroit. For a 2055 you get $75!....Let me repeat that....$75.
After the first year he pays 40%, and after 18 months if you hit the turn time and volume requirements you get 50% and he pays e & o as long as you don't have any of your own clients. Volume means two reports per day.
AND, for every mistake he finds in your report he subtracts $1.
My wife was sitting next to me when he called and was looking at the numbers I was writing down and she was waiting for me to lose my temper and tell the guy to have sexual relations with himself, but I didn't. I wanted to know who he was.
Name: XXXX
Company: Unique name....has the word "Fast" in it
Address: XXXXXXXXXXXXX
Fenton, MI 48430
Phone: zzz-zzz-XXXX
I actually sat in front of this guy in my USPAP class in Lansing. XXXXX (personal opinion removed)XXXX After I got his info I told him I wasn't getting out of bed for $105.
