Fees and getting C/R vary widely – per www.AppraisalPort.com polls
As you can see above, appraisers say that 60% or more of their clients are paying C/R fees
As you can see above, only 9% of appraisers say C/R is under $350. Yet, I suspect that many are working for under $350 fees. Looking at the poll above, 60% or more of respondents say are working for C/R fees. Are most of them doing a lot of non-lender work, VA appraisals, AMCs who pay C/R, or direct lenders?
As you can see from the two polls, they show that 60% of residential appraisers say they are getting $400 or more per appraisal. If you’re not in the 60%, its time to change.
But, somehow the results seem strange to me. With AMCs at about 80% of the lender market and limited non-lender work available (as compared with commercial appraising) who are the 60% of the appraisers working for? If it is accurate, it means there are lots of clients paying C/R fees…
If you want to get higher AMC fees, you must:
1. Ask for higher fees and
2. Dump cheap AMCs
3. Only bid on jobs that won’t take much time and have few revision requests
Why don’t appraisers do this? Fear and Greed, just like all other businesses. Fear – afraid they will never get another appraisal job. Greed – want more money now. You have to overcome this to be successful in today’s very competitive AMC appraisal market. It is your choice to work for low fees and very demanding clients.
Next month’s paid Appraisal Today newsletter will have an article on how to overcome Fear and Greed and get higher fees.