To Pay or Not To Pay, That is the Question
Should appraisers pay to be on an AMC’s approved appraiser list? Is this one way to get new clients? If an AMC solicited you, would you check it out? Now, I work for some AMCs that, frankly, you might not choose to work for. That’s fine. It’s a choice we all make. Understand that most of the areas I work are rural, so AMCs are generally willing to pay more because of this. Some AMC are very demanding. Yet, when I meet those demands, I get a lot of well-paying jobs from them.
Recently, a new AMC asked me to join its panel. While I usually respond positively to these requests, with this particular AMC, I chose to reject their offer. Why? That AMC wanted me to pay it for the privilege of working with them. Nope! Yes, I am all about business opportunities. I am used to “lunch-and-learns” in which I pay for that lunch to get new clients. That’s legitimate, as far as I am concerned. So, how is this AMC’s request any different?
I’m not paying this money in a marketing situation like I am with the lunch-and-learn (or some such event). There is no marketing in paying the AMC to get its work. That just rubs me the wrong way. I also know for a fact there were fly-by-night AMC firms that got a few hundred dollars from a few thousand appraisers, then disappeared into the fog. In other words, the solicitation was a scam by a sham company. For these reasons, I threw the solicitation in the garbage. I would counsel you to do the same.
So, should you pay to be on an AMC’s approved appraiser list? That is a decision only you can make. But I made my decision. And my decision was NO!
For more information on this subject, please download and listen to The Appraiser Coach Podcast Episode 512 below.