appraiser fees

“Low Bid” Appraisal Ordering and Its Effect on Quality

“Low Bid” Appraisal Ordering and Its Effect on Quality

by Isaac Peck, Associate Editor   Any appraiser who has worked with Appraisal Management Companies (AMCs) is likely familiar with the “order by email-blast” system that some AMCs rely on to fill orders. The process goes like this: an AMC sends an email blast to all appraisers within a… Read More

Comp Checks: Learning to Live Without You

Editor’s Note: This story is one in a three-part series: Pressure: Dealing with It; Comp Checks: Learning to Live Without You and Getting Full Fees.  Find more at www.workingre.com. Comp Checks: Learning to Live Without You According to most appraisers, the only way to “move on” when it comes to comp checks is to make… Read More

How to Make Six Figures Appraising (Part Two)

Editor’s Note: We received a number of comments on last issue’s cover story: How to Make Six Figures Appraising. One of the most “colorful” leads to this follow-up story (see Readers Respond). The comments were submitted by a fairly seasoned appraiser (four plus years) who is incredulous that anyone would pay a trainee six figures (who… Read More

Customary and Reasonable Fees: Making Your Case

The good news for appraisers is that the Financial Reform legislation recently signed into law puts teeth into its mandate that appraisers be paid fees that are “customary and reasonable.” Now what? The “bite” that Congress provided is wording which states that “such fees may be established by objective third-party information, such as government agency fee… Read More

Chase Denies Responsibility for Bankrupt AMC Debt

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Editor’s Note: The bankruptcy earlier this year of the appraisal management company (AMC) ESA left millions in unpaid fees to appraisers, agents and brokers, who now are trying to collect from Chase, the bank who hired the AMC.  What happens will have far-reaching effects on the appraiser-AMC relationship and the industry. Chase Denies Responsibility for… Read More

“Comp” Checks: Turning Requests into Orders

“Comp” Checks: Turning Requests into Orders “Please check the comps first and call me immediately if the value is not there.” Sound familiar? Or the mortgage broker who calls from parts unknown asking: “Do you check comps first? I don’t want my borrower to pay for an appraisal they can’t use.”  Just as lender pressure… Read More