Outrage Over Connect by ValueLink’s New Monthly “Junk Fee”
The recent announcement from Connect by ValueLink has sparked outrage among appraisers. Effective January 1, 2025, the company plans to institute a new $19.99 monthly user fee for all appraisers utilizing their portal to receive and submit appraisal orders. This fee will be in addition to the existing technology fees already charged on a per-appraisal basis. Understandably, many appraisers are up in arms over this development, viewing it as yet another “junk fee” that will only serve to erode their already-thin profit margins.
What makes this particularly galling for appraisers is the fact that it is often appraisal management companies, mortgage brokers and lenders, not the appraisers themselves, who have chosen to work with the Connect by ValueLink platform. These clients have essentially mandated the use of this portal, leaving appraisers with little choice but to comply if they wish to continue receiving orders.
The company’s claim that the new $19.99 monthly fee will allow them to “continue delivering great value and maintaining exceptional service” rings hollow. Many appraisers struggle to see how this additional cost will translate into tangible benefits or improved efficiency. In fact, many have expressed staunch opposition, with some threatening to stop using the platform altogether. After all, the core functions have remained largely unchanged, leading many to view this as a naked attempt to extract more revenue from the professionals enabling their business model.
The appraisal community has responded with outrage, as many appraisers have vowed to refuse paying the new monthly fee. Rightly, they argue that as the true experts and talent in the field, they hold significant leverage and should not be forced to accept such blatant “extortion” in the form of these “junk fees.” The sentiment among appraisers is clear: they are the indispensable ingredients in the proverbial “cake,” and without their participation, the entire system will grind to a halt. As such, appraisers are rallying their colleagues to collectively stand firm and reject this latest attempt to nickel-and-dime the profession, sending a strong message that the appraisal community will not be taken for granted or exploited. The stage is set for a showdown, as appraisers unite in their resolute stance: “Just say no.” It remains to be seen how this standoff will ultimately play out, but appraisers drawing a firm line, making it abundantly clear they will not simply acquiesce to this thinly veiled attempt at extortion.
- Outrage Over Connect by ValueLink’s New Monthly “Junk Fee” - November 27, 2024
- Accurate Group’s Appraiser Selection Practices Expose Troubling Industry Tactics - November 25, 2024
- ARCC Discussion Exposes GSEs Agenda to Reduce Appraisal “Friction” - November 22, 2024
Appraisers, don’t go meekly into the night! I know we lean “introverted”, but put your foot down and say HELL NO. Call your lender clients on there and raise hell. Contact this software company and let them know what you think – overwhelm their customer support if you must. Drive them crazy until they roll this back.
Lenders, start looking into other alternative platforms like RealWired (https://realwired.com) that don’t play these games. Appraisers are already getting nickel and dimed and squeezed at every corner. You need to be on the appraisers side, they are literally protecting your business. Advocate for them!
It is unacceptable to be required to pay a fee to use a platform that the lenders/amcs themselves chose. It would be a different story if this platform was sourcing the work directly from banks on your behalf and charging a referral/finders fee like reggora or Appraisal Port. But this is just taking advantage of appraisers because we’re too nice. If the banks want to use that platform, fine – but they are the customer and should be the ones paying all fees (and not even passing down bullshit and totally made up tech fees, for that matter)
https://valuelinksoftware.com/customers
These are the AMc’s that utilize this platform. I am emailing ALL of them.