Vincent, I talked about an Appraiser’s Union 25 years ago and was scoffed at. Now most appraisers have to deal with lender owned AMCs and other low wage AMCs. I’m grateful for direct lender work and AMCs that pay more than most, but I’ve had to deal other AMC sweat shops in the past. Don’t get me wrong, I absolutely abhor public unions (who do they negotiate with???), but if private unions can protect a group from big corporations and their lobbyists (of course it’s the government that allows corporations their power to control commerce), God bless them. Perhaps one day appraisers will unionize. But evidently, today is not that day.

Mike,

This is directly from the American Guild of Appraisers website…

“The AGA is a non-traditional union. This means that we do not engage in collective bargaining, do not strike and do not enforce a closed shop.”

They do promote the appraisal industry, but that won’t exactly help appraiser’s compensation as a whole. I guess it’s better than nothing.

Donna, to paraphrase – insanity is repeating the same mistakes you (or others) made in the past and expecting the results to be different.

The first mistake was accepting any work from them. The second mistake would be to accept $175 work from them. They already treat you like a coal miner that owes their soul to the company store.

Every minute you waste on them is a minute you can’t market yourself because you are too busy working for less than half pay.

The temptation to accept it would have been SO strong…and then never call them back until they call you for status. “Oh, I thought it was a joke-my ridiculously-funny-discounted-low-fee-schedule appointments are about three months out – will that work for you?”

Diane, contact Jan at AGA (janbellas@appraisersguild.org ) She has pretty good rapport with one of the folks up at VA that may be able to help. A full list a few years ago may not still be full.

You KNOW you’d get a great reference letter from us!

Hi Mike, I’m on FHA panel but haven’t gotten any work in a few years, just renewed my info and supplied updated state certification. Applied for VA a few years ago and they said they were full.

Di, are you on VA and FHA panels?

Donna, decades ago LSI proved there was no bottom that they were not willing to go to on fees. When normal fees ran around $300 they paid $275-$289 which was NOT a bad deal if they were giving you 1/4 million a month in billing. Less than 10% for high volume from a fast paying client with volume so high marketing wasn’t necessary.

The problem started when former founders split off and started ATM and they began to compete with each other for the same clients. They kept going lower and lower until at $189 I said the hell with them and the firm.

Im told they got as low as $125 but stabilized over the years around $175. They; and any of the derivative corporations they morphed into are pure bottom feeding pond scum. They gave up on appraiser competency decades ago; they haven’t even tried to pay a C&R fee in over two decades.

Yet appraisers still work for them. THAT is a problem. When you MUST do 2 a day to survive; quality suffers. Eventually, lenders and regulators say “appraisers aren’t that good anyway” why not use AVMs? In the meantime those low fee appraisers cant find better work because they are spending 12-14 hours a day doing low fee jobs. It’s a Catch-22. Point is appraisers competing on low fee will never see the bottom. There will always be someone like them willing to undercut.

There is NO REASON for any appraiser to be accepting $175 for an appraisal anywhere in the USA today. None. ALL appraisers working for fees that low should consider working as trainees or entry-clerk-appraisers for other appraisers charging normal fees of $400 to $500+-, and willing to split fees. After 25% overhead, taxes and SSI $175 is $131 or about $16 an hour.

I believe Uber drivers make considerably more than that. Personally, I’d rather TRAIN MY COMPETITION to compete on the same level as me, than to see them compete only on fees. Seriously. Win bids by being more professional; nicer, happier, faster (with equal quality), more responsive or simply better at spell checking, and I will applaud and congratulate you (them).

Raymond, sad but true. I refuse to prostitute myself and my business so I guess it will be another lean year for me.

diana, what’s more pathetic, is that AMC will find some appraiser (if that’s what we can call them) to do that $8-10 million appraisal for $261 or some fee close to $261. pretty amazing…lol

Put you name on Appraiser USA, call the lawyers, nursing homes, accountants, go into the small local banks and tell them you know these use a selective panel, but you would be available when they take their vacations or start to slow up….google a list of ALL Amc’s and contact them, put your fees into their portals, when things get busy and turn times go up, they will call !!! Tell realtors who don’t know how to list a house, that you will help them. so the realtors will tell their people… send an application to the VA, yearly, they throw them away yearly and start over. Don’t give up, call some other appraisers who may have better paying clients…or clients that pay better and that they hate….dont give up !!!

Its not the appraisers, its the nature of the business, and the AMC’s and lenders are making the fees a problem. PLUS, the fees they charge the applicants is not reflective of the fee an appraiser gets. I sit here with no work because I want a minimum $175….its a joke really.

Gee, and you didn’t take it, sounds like a good deal to me. LOL These AMC’s are pathetic, and unfortunately so are the appraisers that still work with them, they are ruining what was once a very good profession. So sad. :(.

OREP WorkingRE publishes an annual list of AMCs that supposedly pay normal fees and reportedly have decent reputations. I never tried it but before accepting insultingly low fees I’d urge you to try it.

I agree some areas of our country dont have the variety of work opportunities as others. Keep reaching out like you are doing. Sooner or later someone is going to give you a link to a good client.

Appreciate your comment. They are an AMC, and you never get the full fee. When I do work independently I get a higher fee, but that work is hard to come by. I have been in the business a really long time, and I think it is the only business where I make less and less, never got a raise, and I am not treated as the professional I am. Unfortunately, it is the nature of the business.

I know they are playing some sort of game. I am on the East Coast

Donna, respectfully NO appraiser should be accepting $200 let alone $175. ANY company that would offer such fees has zero integrity. Why would anyone work for clients with zero integrity?

They are playing games with you. Drop them…Then you will see what you are worth. Are you on the west coast ???