Announcing VT Customary and Reasonable Fee Survey Release
Dear Appraiser Colleagues,
Awhile back, you responded to a request from VaCAP to supply your e-mail address to participate in an upcoming Customary and Reasonable Fee Survey to be conducted by the Virginia Center for Housing Research and the Virginia Tech Program in Real Estate.
This communication is to notify you of the survey’s eminent release. Please look for it to be sent to you via e-mail in the next couple of days.
Your participation in the survey is vital to the success of this endeavor. Please take the few minutes necessary to complete the survey; it should only take 5-10 minutes.
While Dodd-Frank explicitly excludes the inclusion of fees paid to appraisers by AMC’s in a C & R Fee survey, the survey that you will receive asks for the disclosure of both the fees paid by clients whom directly engage the appraiser, and for fees paid when the appraiser is engaged by an AMC. Please read the questions carefully.
Thank you in advance for your participation in the survey.
J. Mark White
President VaCAP
If you would like to participate in the VT C&R Fee Survey, please contact VaCAP:
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- VaCAP Supports Shane Lanham’s Legal Fight - September 10, 2024
- It’s Just Responsible Journalism! - February 21, 2024
- Limitations for Damages Against Appraisers - January 9, 2024
I will certainly fill out this survey, though I have grown completely disillusioned by any claim that anything of significance will be done to right the many wrongs done to our industry and to my career. Dodd/Frank has destroyed my career, my livelihood, and ruined me financially (not to mention the devastation done to my credit). I have finally given up on this industry and career, as I fear it is doomed to mediocrity, terrible fees, and increasing liability for the foreseeable future. I don’t know how many times we have been told “Things are about to change! Things are about to get better!” and nothing changes . . . nothing gets better . . . in fact, it only gets worse! I’m done with the empty promises and lies and near decade long thievery by the AMCs and big banks . . . they can all go to hell, along with Dodd/Frank and everyone else who allowed this travesty to happen. But I will complete the survey, in the vain hope that other appraiser’s might benefit from this.
Nothing will happen. That’s why most of us that have been in the business for many years have left. It’s all about cheapest and fastest now. All they have to do is make the AMCs and the lenders responsible for the appraisals they accept. Game over. No more cheapest and fastest. But they will never do that. Get out of this industry before you lose everything. All the smart people have already left.
AppraiserMorons: I agree . . . I am finally on my way out. After more than 12 years of misery, including a year and a half in the commercial appraisal industry (which I thought would be significantly better . . . and it was . . . but still finally slowed down as a result of this economic depression we are in), I have had enough! I am now returning to that which I had originally intended to do upon graduation from university, which is law. Starting out at a good friends law office as an assistant, then paralegal, as I prep for the LSAT and law school. His focus is immigration and real estate law . . . both fields I believe I will do well in without compromising my ethics and morals.
You are right . . . most of the smart appraisers left the industry years ago . . . I should have then, but, stupidly, kept holding on to hope that things would change. Well . . . they are getting what they are paying for . . . low quality, fast turn time, crappy appraisals . . . When this is done on a broad scale, eventually the chickens will come home to roost and there will be hell to pay!
Smart move John…VERY SMART MOVE! You will never find anyone trying to screw lawyers or bankers out of their hard earned money. No need to feel bad about being late in your migration. You’re still ahead of the 70% remaining in the industry.
Thank you Retired Appraiser, I appreciate the kind words! It is too bad we let this happen to our industry. I loved appraising before they ruined us, now it is little more than a source of bitterness, frustration and anger. Very glad to be leaving this industry, no matter how difficult the road ahead may be for me. All the best to you and all other appraisers, retired and otherwise!
Good for you John. I know you will be much happier. All therest will be sorry when they finally realize nothing is ever going to change. Period.