An Opportunity for More Work…
Work opportunity for $25… Opportunity?
A member of VaCAP forwarded this email from an AMC. VaCAP wanted to share.
“We have a new product which is a review of a BPO. You’ll need to log onto a site and complete a checklist. The pay is $25 per report with a 24-48 hour turn time. Most can be done in about 10-20 minutes. All work can be done from your desktop. Training will be provided.
Please let us know if you are interested. At this time, we are reaching out to garner interest. We’ll let you know the next steps as we do.
** these orders would be sent via Mercury Network”
Although we do not have any specific knowledge of this product, we can assume the scope of work is very limited. VaCAP wants you to understand what is involved.
You are being asked to complete a review of a Broker Price Opinion (BPO), not an appraisal. You will be compensated a gross of $25 per report and there may be a fee involved since the order is going through Mercury Network. Keep in mind an appraiser did not complete the BPO and when you mention matched pairs, they believe you are referring to a pair of matching socks.
Let’s break down what’s involved and the expenses:
Even though you will access a website and checkbox, you are a licensed professional appraiser and must comply with USPAP if you give an opinion of value or agree with an opinion of value. You must create the file (file folder, storage cabinet, labels, etc). In that file you must keep your research, data, analysis, and conclusions. How much time have you spent researching the subject, the neighborhood, looking at sales, narrowing the sales to determine the comparables. Don’t forget about your matched pairs analysis.
Now factor in your expenses of rent, utilities, internet access, software (you have these expenses even if you work from your kitchen table), cell phone, liability insurance, and E&O insurance. Does your E&O even cover this type of product? Factor in the cost of licensure, CE classes, and VaCAP and other professional organization dues. Let’s not forget Uncle Sam. He wants his share as well.
Now as yourself……How much money have I lost?
- AMC Engagement Letter: Appraisers Do Not Include Your Invoice - July 28, 2023
- We the People… - April 9, 2023
- Federal Valuation Agency Impact on Appraisers & the Public - July 22, 2022