28th August 2013

Where has the AMC work gone?

posted in Appraiser News |

Hope everything is going well out in appraisal land! I know for me my AMC work has steadily declined over the past few months.

What about you?

Since work has been so great and plentiful over the past couple years I rarely found the time to update my profiles on numerous AMC websites so when a few of my top vendors started hiring in house appraisers, my AMC volume went from 40 requests a week down to about 10.

Now I am lucky if I can accept 2 orders a week from the AMCs. Luckily I have a fair amount of non-lender work due to some recent advertising campaigns, but I still count on a fair amount of AMC work to make ends meet.

What are other appraisers seeing out there with AMC work? How many orders do you do a week now compared to 3 months ago?

I would really appreciate your feedback, please leave a comment below.

BTW – I have started updating all my profiles with the other 250 AMCs I have registered with in the past. I will keep everyone that posts a comment below updated on how that goes.

Bryan
http://www.appraiserincome.com

There are currently 18 responses to “Where has the AMC work gone?”

Why not let us know what you think by adding your own comment! Your opinion is as valid as anyone elses, so come on... let us know what you think.

  1. 1 /*On September 9th, 2013*/, NorCal Appraiser said:

    My work level had been great for the past 12-18 months. Almost more than I could handle, but having no income after the bust, I was hungry to rebuild so I worked many hours to accommodate the orders I was getting, averaging 12-15 per week. In May things dropped off by nearly 50%, at first the break was nice. But now, for the past few weeks it has been 3-5 per week, I am scared. Trying to figure out the market and going into this slowdown with no reserves!

  2. 2 /*On September 11th, 2013*/, John said:

    I think most AMCs started using staff appraisers. I get a lot of calls from AMCs to recruit me as an employee…
    My work slowed down as well, possibly due to change of interest rates and markets…
    It is slow again in my area.

  3. 3 /*On September 11th, 2013*/, sandiegohelp said:

    Yeah, I see it going that direction as well. I thought the AMCs were to be the middlemen between the broker and independent appraisers… Well now they are just the middlemen between the banks and the AMC employees.

  4. 4 /*On September 11th, 2013*/, Dana said:

    Im lucky if I get one job per week. How many times has this industry let me down? Too many. How many times do I need to get kicked before I realize this is a nowhere job?

  5. 5 /*On September 11th, 2013*/, A. Munoz said:

    I too have seen a slow down in AMC work. I’ve been doing this for fifteen years, and have been wondering (for the past five years) why I still do this!

  6. 6 /*On September 11th, 2013*/, sandiegohelp said:

    I hear the same thing from a lot of appraisers. It is tough.

  7. 7 /*On September 11th, 2013*/, Steven Schwartz said:

    Work has slowed to less then 1 per week, AMC, attorney, Hard Money lenders, Credit Unions, etc. Ads not paying off with the General Public. Studying now for license renewal in 3 weeks due, with little enthusiasm and low focus. I am considering dropping out as a full time Certified Residential Appraiser, after 20+ years, trained over 10 appraisers over the years, due to the BS this industry has become. Im starting up a part time business that is taking off, way more fun, less hours, total independence, future residual income already starting to develop. My Brother & Sister already making $20-30,000 per month part time. Sponsered 6-8 people, both have 3000-5000 in their organizations now. Blows appraisal business out of my thoughts. Appraisal industry=Too much regulation, fighting for each dollar, working all night to meet turn times, etc. Each assignment getting harder & harder and the fees suck. Your thoughts???

  8. 8 /*On September 11th, 2013*/, sandiegohelp said:

    Yeah, I hear that, it does suck. Not 100% sure where everything is going. Still getting steady non-lender work, but the AMC work put me well over the top. So without that, it isn’t very good for me either. Mortgage companies have also taken a huge hit in the past couple months. Tough industry these days.

  9. 9 /*On September 11th, 2013*/, Donald Peyton said:

    In my opinion you must demand fair appraisal fees, and be higher up on the food chain. When the work volume is low the A.M.C’s tend to work up from the bottom, once they over book the bottom feeders who are willing to for slave wages, and destroy the potential for qualified appraiser to earn a fair wage. They move on up at some point reaching your level of compensation. This is simply my opinion. But I could guarantee if everyone held firm for fair wages, adequate compensation would become available to all of us.

    Stamp out the bottom feeders. Have some respect for all of the hard work it took to become appraisers, how hard you have worked to learn your craft, the hours of continuing education, increased lender demands, the effort & hours you put into each, and every appraisal report to produce a quality product. Respect yourself, and your profession.

    Mad as hell

  10. 10 /*On September 11th, 2013*/, Mike said:

    We’ve noticed a slow down but, we are still plugging along due to some strong ties with some direct lenders, FCUs and smaller banks. We are also coming off a pretty strong tax appeal season.

    What I can’t help but notice here is how many of us appear to still be so reliant upon the AMCs for business. I thought the whole idea of joining AC was to learn how to move away from the AMCs. I doesn’t look like many of us have done that, Bryan and me included.

    Look at it this way. If we are slow, the AMCs are slow. Some of them will likely fold, as will some appraisers.

    Take advantage of this down time. I challenge each of you to make direct contact with at least 5 non-lender prospects per week. I’ve been doing it for over a month now, once I started seeing rates go up and the work slowing down. Call an attorney or an accountant. Speak at a broker’s sales meeting. Stop in their office. Nothing is more powerful than face-to-face. Sure, it can be uncomfortable and challenging but, not as uncomfortable and challenging as watching your business and career dry up and fade away.

    Make this slow down a positive. While other appraisers are worrying, get our there and change the direction of your company. Get away from AMCs and lenders. Create your own future. You will be glad you did!

    I also suggest reading The Slight Edge by Jeff Olson.

  11. 11 /*On September 12th, 2013*/, sandiegohelp said:

    I have to agree, ramp up your non-lender marketing. For more ideas on how to do this, watch the free webinar at http://www.appraisersclub.com.

    Bryan

  12. 12 /*On September 11th, 2013*/, garlandvalue said:

    I have several AMCs that I can always count on, although work is very minimal it helps. But saw a drastic reduction in work last couple of months. Seeing results from non-lender marketing, taught from the webinars. That will be my focus until the AMC work rebounds, if they rebound.

  13. 13 /*On September 11th, 2013*/, judy4value@pacbell.net said:

    Nothing at all since summer. Been in the business for over 20 years…the worst it’s been since AMC took over.

  14. 14 /*On September 12th, 2013*/, Anthony said:

    If I was younger I would be looking to get out. The future of this business is questionable at best. A business where you are not in control is not a business. I would not recommend this work path to any young people.

  15. 15 /*On September 12th, 2013*/, JAK said:

    We all need to join the Teamsters, they know how to represent people. Mob-ed up you say, I hope so, cause were gonna need some muscle.
    System won’t change until Servicing Loans is the profit center, not making the loans.

  16. 16 /*On September 12th, 2013*/, JAK said:

    Did you know Canada has not licensed their appraisers.
    Its not necessary, because the Banks are held ultimately responsible for the Loan and the Appraisers they hire.

  17. 17 /*On September 13th, 2013*/, Bill said:

    A degree in real estate and well over twenty years of experience and here we go again. Another slump through no fault of our own. I never would take on any trainees because I would not wish this profession on my worst enemy. I feel like I have wasted a big part of my life pursuing an appraisal career. Very disillusioned at this point.

  18. 18 /*On September 16th, 2013*/, Dave said:

    I have also seen a slowdown in the AMC business and actually received an email this morning letting us know it has just been slow and to hang in there. I believe this is just another lull in the market we see every year around this time and things will pick up. hang in there.

Leave a Reply

You must be logged in to post a comment.



FREE REPORT INCLUDED:
3 Steps to get
More AMC Orders

SECURE & CONFIDENTIAL
Your email will NEVER be rented, traded or sold.
WE GUARANTEE YOUR CONFIDENTIALITY.
We hate spam just as much as you do.


E&O Insurance
Appraisers Club Appraisal Management Companies





Get More Orders - Private Appraisers Club
Get More Estate Work!
Divorce, Bankruptcy,
Date of Death and
Estate orders are
needed in your area!