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What is happening to my industry?

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Jay Wolfson

Thread Starter
Sophomore Member
Joined
Jul 19, 2002
Professional Status
Licensed Appraiser
State
Arizona
I was contacted yesterday by “ReverseMortgageAppraisers.com” for a listing subscription. OK - nothing new, happens every day. Turns out the company is a division of Land Mark which is one of the largest appraisal management companies. So in addition to AMC’s becoming gateways to the market (HVCC), taking part of my fee, or forcing me to lower my fees (out of controlled competition), they are also marketing to me for exposure. I’d rather just be someone’s employee and receive benefits and a paid vacation.

I feel like an illegal alien hanging out at Home Depot, competing for every job and than now having to pay for the ride to the job site. FNMA controls my report forms, mortgage brokers & underwriters attack my work ethics, AMC’s control my work flow, and realtor’s control access to my data (and I have to pay into there lobbing “war chest” at each subscription renewal). There is something desperately wrong with this industry and I don’t understand why we can lobby ourselves into a position of self controlled.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
65,000 mortgage companies, far outnumbered by real estate agents (10+ to 1), bottom of the food chain when it comes to money and contributions to lawmakers. That's three biggies right there as to why we get no respect.
 

yr2525

Sophomore Member
Joined
Jul 21, 2008
Professional Status
Certified Residential Appraiser
State
Kentucky
All true Jay. And no easy answers I'm afraid. We are at the bottom of the lending food chain, generally self-employed, generally poor at marketing ourselves so hungry for work and that makes us easy to prey upon. Just remember that if we all would refuse to accept AMC fees, they would have to pay more. Until the out of control competition takers it self out over time, we are scr**ed. Those of us that come out on the other side wil regain control. AMCs don't exist without appraisers that let's themselves be used.
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
"I feel your pain" For whatever that is worth. Many years ago a very few of us asked those very same question's. However at that time there was a "BOOM" going on. You may have heard about it. Well those of us that could see that this was not going to last & the end result was going to be devastating we asked & actually Begged for assistance were pretty much laughed at. Many Appreaiser's we asked simply went out got more Trainees. Others bought software program OWNED by a AMC in order to get more jobs, others actually offered to work for less before they were asked to.

So my answer is: Guess all we can do is watch & wait. & see how low this profession will sink. I'm actually begun to find enjoyment at reading this Forum, & seeing NOW that we have proven that we are NOT an inportant part of the process. NOW we find ourselves trying to convince ourselves that we can make a difference. BUT yet IF we mention politics or bad mouth an Appraisal mill, or state an opinion counter to that of some we might find the thead locked.

NOW lets look at all the problems of this country today. Then look at Appraising. Where would you (truthfully) put Appraisers in the whole list of this countries problems??
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
Lemme rephrase the OP.

Where are we going? And why are we in this hand basket?:rof:
 
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