Part, a major part of running a business is collecting your fees. charging differing amounts for differing problems, charging differing amounts for similar problems, with differing clients, is a necessary talent.

Collecting $1,250 / hour for a partial days work illustrates the week, or month later of going to the county legal library to research an collection or a property problem.

Appraisers or any true business manager will describe the contractual duties (scope), limits and responsibilities before starting the contract. Use an ENGAGEMENT letter. Use your own TRANSMITTAL letter.

don,  U.T.B.A. (used to be appraiser)

Sounds good in theory but if you approach the management platforms like an outsider, you quickly see how they promote amc’s and are tight lipped about which lenders are facilitating direct assignments. I’d bet on the other side of the desk the downside for lenders who use those systems is they’re constantly hounded by amc’s. Although mercury and others won’t share a lead for who’s direct with appraisers, it’s quite likely they share those leads with amc’s.

More bias which injures the appraiser profession from the tech crew. These mercury fees are relentless and completely unfair. That is supposed to be lender side operational costs.

The majority of middle man be it the clerks or the amc’s or the tech platforms, just gimmicks who do nothing to support our industry and sell us out on every turn.

Dare you to post a list of 10 lenders whom engage in truly fair rotational direct assignment, and also pay all tech fees. It’s an impossible challenge.

Dave, whom indemnifies me?

As for spelling please let’s not get petty and I do see you state you are NOT a lawyer so kudos for stating that.

The clause you cited doesn’t appear onerous to me. However nearly all that I have seen also have verbiage suggesting or stating that the indemnification to the AMC by us is unlimited and could even be argued if the error or claim originates because of the amc’s actions. THOSE are clauses I’d object to.

The only real criticism is the inference that one is unsophisticated or ignorant if they don’t ‘do what everyone else is doing’ in business today. Especially as appraisers.

We have all heard the LO Lament “You are  the ONLY appraiser that has ever asked me for a ratified contract in over 900 years in the business. Everyone else completes the appraisals without it.”

What others do or don’t do doesn’t dictate how I run my business. There is plenty of non loan work out there.

Yesterday was a $1,250 day for 2 1/2 hours in court. Today will be a minimum of $1,000 to possibly $2000 for depositions. Last week was $2,500 for 5 hrs of depositions. The combined $3,750 from last weeks depo and yesterdays testimony was on top of a two part $4,000 appraisal fee already paid (the appraisal part took much longer but still not a bad rate). This isn’t a brag-too many others earn MUCH more.

It IS however a reminder that wasting time with low paying, high maintenance clients takes away from time that can be spent far more productively. One sided indemnifications are a warning sign of such a client.

If ALL appraisers objected to these clauses, they would disappear over night.