UAD 3,6

[GWISC]

The lenders and AMC's are shopping in the dark when it comes to figuring out what an acceptable appraisal fee will be. I am sure there will be lenders coveting the appraisers who adapt to this the quickest. For now, I am getting my feet wet on a few 3.6 assignments. Just in case, I always set up a 2.6 shadow file just in case the 3.6 version hits a snag. The last one I did, hit a snag that eliminated exhibits and pages that were thought to be undeletable. I did not delete them, they just disappeared. My software provider corrected the issue. It was nationwide. All good, for now at least.

 

[Vermonter]

They may be trying to get as many 2.6 in before the deadline because I haven't been this busy in quite a while. That may mean a slow start to 3.6 which they can use as a tactic to hold the line on fees.

 

[Joe Flacco]

I'm not busy. I spent the week at the beach.

 

[Mike Ault]

I'm not busy. I spent the week at the beach.

That's what you get to do when you charge your fees. Work a little, make a lot!

 

[Joe Flacco]

That's what you get to do when you charge your fees. Work a little, make a lot!

I dunno. I don't make that much. Kind of struggling tbh.

 

[Mike Ault]

But the high fee, low volume business model is what we should all be striving for. I would gladly work less for more money.

 

[Tom D]

Do not discuss $ fees, or you will get caught in an anti trust agenda by the feds.

 

[Mike Ault]

Do not discuss $ fees, or you will get caught in an anti trust agenda by the feds.

They need to start with the AMCs who are announcing to the world that they don't plan on increasing their fees one bit. That's letting their competition know to do the same.

 

[glenn walker]

But the high fee, low volume business model is what we should all be striving for. I would gladly work less for more money.

Fernando was charging $800 to $1000 during Covid-19 to AMCs so he should be chiming in on what his 3.6 fees are going to be.

 

[Tom4value]

Nearly all of my clients set the fees and I am lucky that I agree with them. I haven’t had any “live” 3.6 orders yet, just practice appraisals for the software. Starting to get the hang of it but have to call tech support on all of them so far. They sound more stressed out than me!

Anyway, at least until the first of the year, I will accept any fee they say as long as it is not less than now. After the 1st, my software company will charge me per appraisal. My fee will increase at least by that much.