grandmastergdogg
Freshman Member
- Joined
- Jul 26, 2018
- Professional Status
- Licensed Appraiser
- State
- Maryland
Appraisers are under tons of rules, regulations, requirements and the list goes on. There are many ways AMCs, Lenders and government agencies and even individual borrowers can protect themselves from a "bad" appraiser. Who or what government agency protects the appraiser themselves from bad actors, predatory AMCs/Lenders? Of course I am aware its on us, but we are ants walking among giants. We are asked to bid aka fight with other appraisers to receive orders, AMCs can charge you fees to submit your work, hidden fees for accepting the order and nickle and diming us trying to find anyone to do the work for the absolute lowest rate possible, only to wait 30+ days to get paid. No other industry operates like this.
Can appraisers somehow unite and say collectively we will not accept fees below X amount, that appraisers should NOT have to pay fees to submit work you are paying US for. Fees must be paid upon receipt and review. Stop responding to bid requests, etc? I see and hear many valid complaints about our industry but how do we expect any change if we do not unite and put our collective foot down? Is this just a pipe dream? Maybe I am just venting but other than this forum, can anyone recommend a group that advocates for OUR interests? Its easy to silence ans individual, impossible to silence a collective.
