Who is doing these?

[MBD]

I discontinued working with this well known company about two years ago but I just received a broadcast email order for a SFR field review. The fee was $125.

By the time I logged in to reject the file (less than 2 minutes after receiving the email), it had been accepted by another appraiser. Do skippies have people on their computer the whole day just accepting every lowball fee appraisal request that comes in? Do these appraisers have any respect for themselves or the profession?

 

[Colorado Guy]

WOW - that is pretty low.

I once figured with all fixes expenses, at a rate of 20 appraisals per month my cost was $55 for each appraisal. Adding in the variable expense and then considering a hourly wage of $30 per hour, I need at least $240 to break even (that is given the subject home is within 15 miles of my office).

So at $125 (given the above), you would make about $15 hour.

Better than McDonalds - but certainly not a profession.

 

[Otis Key]

SFR field review. The fee was $125.

 

[Mr Rex]

Not me. AMC sent me one 2 weeks age, $120. I refuse, say Field Reviews start at $375. Didn't even look up the address on the Tax site. Get a call from a buddy, says he's got this thing for $400 and its so screwed up as a review(+/-19 acres), he is going back to them @ $600. Then I get a call yesterday, SFR in that county, I tell the guy fees start at $375. OK. Comes over today, 1004 report, $375. Its the same property, 18.9 acres in a county of 443 square miles with 45 total sales in MLS last year. I am eagerly awaiting their refusal of my fee increase.

 

[Vegan702]

I stopped doing the reviews, too much work for me and they never want to pay very much for them. And I didn't see any fun in it. I would rather go inspect the crappiest house there is instead of doing a review.

 

[Tom Woolford]

I stopped doing the reviews, too much work for me and they never want to pay very much for them. And I didn't see any fun in it. I would rather go inspect the crappiest house there is instead of doing a review.

I shared your opinion for many years and quit doing reviews. I have started doing them again because if we do not police ourselves, no one else is going to. I would venture that 1/3 of the reviews I have done in recent months were good reports. 1/3 had a credible value, but were poor reports, and 1/3 were downright fraudulent. I probably don't make a whole bunch on them, but at least some bad apples are getting plucked, and some competent Appraisers are getting a pat on the back.