Trainee Asking About Stress in Business

[Tim The Enchanter]

If an AMC sends an email that states "RUSH ORDER" it goes directly to my junk folder. Why? It's a secret code for a problem appraisal report.

Oh no. I have picked up some nice rush fees lately.
Don't guess I'll see another exterior disaster inspection for $300, but it was sweet.
$100 a photo, and about 3 sentences.

 

[Fernando]

If rush order, add a premium. My fees vary with each assignment. I have to keep track what fee I quoted for each new assignment.
Mortgage rates now are so low that I don't have time considering refinancing my home loan.
Every ten years, this low rate event happens and the avalanche of refis occur. Those in the business for a long time know this won't last forever. 2010-2012 were the best appraisal times for me.
Those were also the time my health took a beating from the daily appraisal over workload.
Once this Covid thing is over, rates will go back up and I'll take it easy again.

 

[Fernando]

A borrower who I will see next week was happy I can see her property so fast.
She wanted to refer me to a friend who has been waiting weeks to get an appraisal.
I said lender decides which appraiser to use. She can contact her lender if she wants.
I'm glad the system works like this. I'm very selective in choosing my assignments (clients so lucky to have me).
I can see why clients are payiing my $620+ fee because I must be speedy Fernando.
Highest fee was last week for $750 for cookie cutter. And I just got another one in that tract and I can use comps I'd taken.
You can see why I can't stop.

 

[Carlos Danger]

So good, yet so humble. Happy Holidays, Fernando!

 

[NachoPerito]

Stressful? Yes, it is stressful. When busy you are worried about how you will get everything done. When slow you feel like the world is ending.

You always have more work to do so it is hard to split time between work/fun/family. You tend to bring work home with you, there is no off switch.

 

[Fernando]

So good, yet so humble. Happy Holidays, Fernando!

Happy Holidays, Carlos. Can't believe Christmas is next week.
You know what that means, you can charge the holiday premium doing appraisals near that time.
You can't believe the borrower I saw appraisal yesterday is still trying to get me do an appraisal for her friend.
Lady, I keep telling her, the lender chooses the appraiser.
The reason I was able to accommodate her appraisal to see it so fast was that I just saw another property ($750) in that tract few days ago.

 

[GWISC]

I agree with Nacho.

When it is busy, you stress about the volume and making due dates you promised 4 weeks ago were doable. When it is slow, the underwriters have more time on their hands to go through each report with a fine-toothed comb to make sure every I is dotted and every T is crossed. Also, when it is slow, the due dates become rather tight adding another layer of stress.

You simply have to find a way to cope with stress or it will eat you up.

There are always more stressful jobs out there; ie air-traffic controller, COVID unit nurse or docter, accountant at tax time. etc.. This job's stress pales in comparison to some others. It is not life or death we deal with. Put it in perspective. Once you get used to the routine, you figure out how to become efficient.

I find the job is more enjoyable than stressful most of the time.

 

[Fernando]

Hard to believe but when I was in college, in the last minute, I decided not to apply to medical school.
I couldn't picture myself in life and death situations. And I hate sight of blood.
With appraisals, it's never life and death and I can sleep better although in past few months I had "nightmares" adjusting my comps. Never had these disturbing dreams in my whole career.