You need to be more competitive in pricing!

[Ariba]

Latest from previous client:

"RE: Appraisal Pricing

Our company has enjoyed working with local real estate appraisers for many years. We hope that you have enjoyed our respect for you and the profession. As banking industry is facing one of the most difficult periods in many years there is increased pressure on pricing, performance, and quality of wotk in general. We know gas prices and the current real estate market is putting pressure on all of you, however, we are facing the realty that we must have more competitive pricing from you. Please email ****** with the lowest fee you are able to complete the following work for. Quality of work cannot be compromised and rest assured that we will also be lowering our fees to the lender

Cordially,

Senior Vice President."

and the beat goes on.

 

[liberated]

What do they want, a fee of $99.99??

 

[Michigan CG]

Obviously from an AMC.

 

[Fred]

As banking industry is facing one of the most difficult periods

Tell him cutting corners on appraisals may have helped get them into a difficult period, but it's not likely to expedite their way out.

 

[JRS at OBX]

Dear worthless client, We have raised our fees by $50 to any client that asks me to lower my fees while mentioning the rising gas prices.

Thanks.

 

[CCAAMO]

What do they want, a fee of $99.99??

That's a good price if your going to Earl Scheib but not for an appraisal.

 

[Tomasz]

Dear worthless client, We have raised our fees by $50 to any client that asks me to lower my fees while mentioning the rising gas prices.

Thanks.

I like that response!

The only time I lowered fees was for a client that provided volume orders. They referred their new employees to me and were a pleasure to work with, so I discounted by $25. Other than that it's hard to swallow lower fees - too bad they can't just have the cajones to say what their expectations might be. They should at least provide a RFP that states their benchmark ...we talking a 10% cut, 20% .....worse?

 

[PropertyEconomics]

Latest from previous client:

"RE: Appraisal Pricing

Our company has enjoyed working with local real estate appraisers for many years. We hope that you have enjoyed our respect for you and the profession. As banking industry is facing one of the most difficult periods in many years there is increased pressure on pricing, performance, and quality of wotk in general. We know gas prices and the current real estate market is putting pressure on all of you, however, we are facing the realty that we must have more competitive pricing from you. Please email ****** with the lowest fee you are able to complete the following work for. Quality of work cannot be compromised and rest assured that we will also be lowering our fees to the lender

Cordially,

Senior Vice President."

and the beat goes on.

SVP,
Thank you for writing. We too are concerned with the current crisis we are in and our company has decided to make strong efforts to not only increase our quality but also to cut our costs as well.
To that end we will no longer be able to accept work from those that demand more of our time thus resulting in a substantial loss to our bottom line.
We wish you well with the bottom barrel appraisers you will find who respond to your request. Should you find yourself in a position of needing honest, quality work as well as being so desperate as to pay full fees for our analysis, please write again.

 

[liberated]

SVP,
Thank you for writing. We too are concerned with the current crisis we are in and our company has decided to make strong efforts to not only increase our quality but also to cut our costs as well.
To that end we will no longer be able to accept work from those that demand more of our time thus resulting in a substantial loss to our bottom line.
We wish you well with the bottom barrel appraisers you will find who respond to your request. Should you find yourself in a position of needing honest, quality work as well as being so desperate as to pay full fees for our analysis, please write again.

Very well stated.

 

[Kevin A. Spellman]

I received one of those emails once. I brought this to their attention, “the average mortgage has doubled in the past 10-15 years and so has the commissions. These commissions driven personal do not require education, skills or credentials and you’re asking the appraisal fees to be lowered to create unjust enrichment, not from me it will not happen.