Comments on: AMCs Add Weeks to The Appraisal Process?

By: Chris

Chris — Fri, 04 May 2018 19:15:18 +0000

In reply to Baggins.

I would chip in money to see that happen !!! Even though I refuse to work for AMC’s

By: Baggins

Baggins — Fri, 04 May 2018 18:27:48 +0000

In reply to Chris.

We should get an undercover person into these companies, there is a lot which goes on behind the scenes which is not admitted publicly. Publish an article with a hefty whistleblower fee, someone from within the assignment industry will bite, they have as much turnover as the appraisal industry has personnel attrition.

By: Baggins

Baggins — Fri, 04 May 2018 18:26:19 +0000

In reply to Kim DeFilippis.

Oh yeah, they can put you on and take you off at will, no permission or notices required. If you’re not a large firm with some muscle to flex, send a letter like that, your login will suddenly not work and you’ll never see an order again. They’re sharing secret do not use lists and they’ll put you on it. Basically everything that blips needs escalated, that’s the only way an appraiser can speak to a qualified person. A constant catch 22. When you’re managing the ‘managers’, you know there is a problem with adequate personnel qualification processes.

By: Retired Appraiser

Retired Appraiser — Tue, 01 May 2018 10:14:48 +0000

Appraisers could learn a thing or two from teachers across the country that are boycotting. Teachers are WINNING in every arena with their walkouts. Appraisers on the other hand have yet to figure out that they’ve had the power all along to solve their little problem.

This award goes out to the appraisal “profession”. For 9 long years I’ve been listening for the pop of enlightenment.

By: Kim DeFilippis

Kim DeFilippis — Mon, 30 Apr 2018 18:24:06 +0000

In reply to Bill Johnson.

I will happily pay you Tuesday for a hamburger today.

By: J Connor

J Connor — Mon, 30 Apr 2018 18:19:09 +0000

In reply to Bryan.

outstanding news

By: Bill Johnson

Bill Johnson — Mon, 30 Apr 2018 17:41:07 +0000

I believe in keeping your friends close, but your enemies closer (monitoring purposes). An AMC has the answer as per an e-mail they said the following.

SPECIAL PANEL INVITATION.

“We’re anticipating significant volume from a new division of one of our existing clients. This opportunity offers a fixed fee of $325 for each FHA appraisal. If you are interested in these assignments and will accept the fee on standard properties, we would like to add you to this client-specific panel. Accepting this invitation will not change your fees for our other orders but will give you priority on higher paying assignments.”

Sooooooooooo lets all agree to work at high volume for $325 today (locally we charged $450 (FHA) in 2000), while acknowledging it won’t change our other fees, but we will get priority on higher paying assignments. In other words, work at gross fees from the 1990’s while paying business costs of today, and we make no promise to pay you higher fees on other assignments, but rather will make you and every other appraiser a priority.

Seek the truth.

By: Bryan

Bryan — Mon, 30 Apr 2018 17:02:39 +0000

On a happy note – If and when we get rid of the AMCs we can increase our fees by 50% because the public is now used to paying a much higher fee (our fee + amc fee). The process will be faster, more efficient and we get a raise!! We just got a new client that bypassed their AMC to save their clients money!! Finally some common sense.

By: Jeff

Jeff — Mon, 30 Apr 2018 16:52:07 +0000

In reply to J Connor.

You said the key word lobbying. AMC’s are not only lobbying to plant their roots but also positioning themselves in the regulations boards as well. I just hope it’s too little too late

By: Chris

Chris — Mon, 30 Apr 2018 16:25:00 +0000

The AMC business model is a joke, everybody is aware of it. The AMC business model allows the banks and lenders to pressure appraisers using a middle man who probably is not responsible for any appraiser pressure. The old adage comes to mind……you get what you pay for. That is probably true in most cases but not in our line of business….lol.

By: J Connor

J Connor — Mon, 30 Apr 2018 16:14:43 +0000

How long will this business model last? As long as AMC’s continue to get appraisers to pay to play and as long as AMC’s spend more money on lobbying than appraisers do.

By: Ralph

Ralph — Mon, 30 Apr 2018 13:18:07 +0000

Great points! I think independent appraisers need to push back and let the lending industry know how much time is wasted just on price shopping the order, to the LOWEST MOST INCOMPETENT appraiser. I no longer do AMC work, but I still receive blast e-mails from several, even though I’ve requested SEVERAL TIMES to be removed and I cannot tell you how many times I’ve gotten the same request 7-10 days after the initial blast. These are the same JACK WAGON AMC’s perpetuating the MYTH of the so called appraiser shortage. They can only survive by placing $250 orders while charging the borrower $500+. Since good appraisers will NOT stand for this, they are left searching, sometimes weeks to find the cheapest. How can this business model be allowed to continue??

By: Kim DeFilippis

Kim DeFilippis — Mon, 30 Apr 2018 12:44:09 +0000

I love the article. However, sending an email like this to vendor management (speaking purely from a residential perspective), results in a) circular file b) response from AMC monkey asking you if you are requesting to be removed from their panel – without any acknowledgement of the subject matter or c) a phone call from vendor management reiterating option b. You see, the AMC business model is not relevant and like a schoolyard bully, they take their fears and lack of self-respect out on others. They cannot comprehend they have no relevance without us.