Unity. There is none. In my experience, the new entries into this profession have no loyalty to the very field that provides their livelihood. They lack the wherewithal to process the fact that they’re destroying the golden goose. To them, it’s about immediate enrichment, throwing reason out the window. We once had a voice in the real estate industry, but that voice has been lost. Attrition has reduced our numbers to a pathetic few. Let’s face it—many of the new entries would sell their own mother if it got them the assignment. These appraisers actually get excited when they see that $250 appraisal fee for a $550 job hit their bank account. They haven’t figured out what it really cost them to earn that $250. But I digress. Anyone who truly loves this business understands the dynamics of a dying profession.

Stakeholders. Any old dog will tell you that throughout our careers, stakeholders have methodically tried to eliminate us. Their tactics include blaming appraisers every time the housing market dips, manipulating the mortgage industry with “creative” alternatives to prove we’re irrelevant, and finally, the coup de grâce—racism. That one got everyone’s attention, from homeowners to politicians, because no one wants to be associated with a racist. But here’s the thing: if all appraisers are racist, then so are Realtors, Assessors, and Appraisal Management Companies. They all deal with housing worth in one way or another. The only difference is that our role directly affects the stakeholders.

Well, they’ve finally succeeded. And the younger entries into this profession are unknowingly helping them do it. These same appraisers will wake up one morning and say, “What happened?”—just as clueless as they were when they drove their own livelihood off the cliff.

Last one out, turn off the light.

Like I said my situation is different. So, are others. Regardless what any of us think or say. Bottom line people are going to do what is best for them.

I have 668 appraisers in my county and within a few hours away there are a few thousand more. Some appraisal markets are a single county (as in my case / 3.5 million), where other appraisal markets might be multiple states.

Seek the truth.

Living in San Diego R Bean where there are 668 appraisers in the county and a few thousand others a few hours a way, its the many appraisers who often support the few. In short, I call it the Dustin Harris syndrome. Meaning, for every small market where a few appraisers say the grass is green, the reality is thousands of other appraisers get taken to the woodshed (high AMC involvement / low splits, etc.) which in turn gives others the possibility to make a decent wage.

Seek the truth.

Supply and demand: in my county there are 6 appraisal business, some have multiple licensed appraisers. I live in a relative rural area, with small towns, cities. I cover 12 counties…and have the least experience, only 10 years vs. 25-50 years.

Again, I quote per work. If I do not get a few, I go down. If I get the fee, I go up next time. I am very aware of the volume of the work there is out there and the fee is expected. I am sure in your area supply/demand sets the fee too.??

What was the value of that 1200 sf? How many times do you get the $2000 not driving 3 hours? etc.

Where do you live? I am (seriously) selling my home and am willing to relocate to anywhere.

btw, driving 3 hours is not average in our area. Covering 12 counties, I drive max 1 hour 15 min., still rural area.

I learned from an AMC, that they pay different fees in different states….

Again, WE need to open our profession the the public, to the free market.

In the public there is a misconception. Any time I ask someone why they think there are appraisers, I get the answer:
1. Mortgage
2. Tax Assessment
3. Selling/buying.
I ask than did you hire an appraiser when you sold your home? No, because the agents tell them that they do not need one!

WE are not enemies of each other, appraisers, though some think preaching from a high horse will make anyone feel better.

WE should do something, like talking with representatives.
I did and keep doing both on federal and state level, educating them.

WE need to enter the free market, and do the appraisal work for why we were created: to protect the home owners from the sharks.

Yes, it takes work, mostly advertisement, but now we have a chance with this court decision. The ground under the agents is shaking.

Instead of doing something, here you are arguing and stepping on other appraiser’s head.

And maybe that’s the reason they are always trying to find alternatives to appraisers. when we start demanding fees that frankly I don’t think we’re worth we are forcing the industry to seek alternative less costly methods. I still say $2k for an appraisal is price gouging and $4k is bs.

Exactly. This has become a discussion that borders on ridiculous. No. Appraising a 1200 sf house is not worth $2000. But if someone can gouge the client, go for it. Take advantage of the homeowner because he chooses to travel 6 hours to do an appraisal. How does anyone really even know a market that’s 3 hours away? “I don’t walk out the door for less than $750.” Get over yourself .

Yeah right. ? ?
I’ll believe this when you post your invoice and your paystub until then enjoy your fantasy

Any time I asked the mortgage company if they have panel appraisers directly, the answer was: no, we only work with AMCs. I guess this is the reality in my area, covering 12+ counties. I keep asking, meanwhile I am trying to feed my children and paying my bills.

Appraisers do not have free market fee, because we are not on the free market. That is the problem.

Reminder: the appraiser profession was created after the great depression to protect home owners from Sharks: the agents/brokers who bought low sold high, and from the mortgage companies.

RE brokers were hated, but they are in selling business, and they recreated their profession, they sold/still do their profession: per current survey over 50% of the borrowers need to be explained the selling/buying process, which means why they need an agent. In my home country there are agents, but most of the properties are sold privately; not in the US, ~15% are private sales, mostly between people who know each other.

Over 70% of the sellers hire an agent, because they do not know the value of their property.

Agents are taking our work and they make very nice money for it.

WE SHOULD SUPPORT FLAT FEE AGENCIES: flood them with the offer to add an option to their website next to staging, lawyer etc. to hire an appraiser on their websites. It would boost their business (70%?) and it would give us an option to enter the free market. When the free market establishes our fee, mortgage officers cannot set our fee any longer.

I do not have my fee set. I quote per the work, distance, how much work is on my desk, how many orders I quoted in the week and on the previous week. My fee is now ~$450 for an average close by; early this year my fee was $350, and yes, once I did go down to $300 while I was crying. Over 2 years ago I made $950, for complex ones $1200. I heard from borrowers how much they pay to the mortgage company, so I know that it is the mortgage company who is collecting from the borrowers much lower fees than 2 years ago. They compete against each other and one common way is to compete with the low appraiser fees…as if we would be asked…. while mortgage cost doubled/tripled in the past years….

Free market fee would solve all our problems: AMC couldn’t compete us against each other, mortgage officers couldn’t offer too low fees, (nobody would work for them).

I believe now is the chance to go to the free market, push the agents out of the appraisal of the property during the sale process, and get finally some respect.

I learned a long time ago if you do not ask. You will not get. If you do not think your time is valuable. You will not ask. We pay a lot and put in a lot of time to become appraisers. I do not begrudge any other professions and their fees. Just like they get their fees it is my right to get my fees too. Call an attorney, realtor, electrician, hvac, plumber or appliance tech etc. they are not afraid of asking for their fees why should we?

You are correct however, all and I mean all appraisers will have to buy into it. I paid $800 or more for several appraisals twenty five years ago before I got into the business. There are four appraisers in my county but we have other appraisers come from other counties to appraise here. If I cannot get my fee starting fee of $750 I will not accept an engagement. On average I get $950 because I take on more difficult engagements.

I must say my situation may be different that I can afford to turn down business since I am debt free and doing very well financially. When it comes down to it people are going to do what they think is best for their business. Also, many people do not value their profession and work will take low fees.

I wasn’t aware that I had a problem. I’m actually happy with the fees I get. I’ve done really well for 25 years in this business.

I’m not afraid. I’m realistic. I know with certainty that none of my clients would pay $800 for a standard appraisal. Maybe you’re in an area where there is a limited pool of appraisers. I’m not. I have clients that I have worked with for years that don’t use AMC’s. Frankly, I think $800 is high.

I do it all the time and I get it. I got $2000 for driving 3 hours each way and the subject was just a standard 1200 square foot home. Why did I get $2k, because I asked for it and that’s what my time is worth for driving that far. in my area I get $625 flat rate at a minimum all the time. Stop being afraid of asking what your time is worth!!!

Ok. Ask for $800 and get back to us. All of us will be curious about how that goes.