Comment from Anonymous
Anonymous AnonymousOtherIndividual
Summary: The commenter, an appraiser, expresses frustration with the current business model of Appraisal Management Companies (AMCs), claiming they have monopolized the industry and reduced appraiser pay. They do not state a specific position on a proposed action, but rather describe the negative impact of the current market structure.
I’m an appraiser and management companies now have control over the appraisal orders I used to get from lenders. The only way for me to make a living at something I have trained for over 20 years is to be get orders from them at much lower than the borrower pays. We are given instructions and treated more like employees. Borrowers think they are paying me to do the work they paid for. They don’t know I’m being paid less and feel taken advantage of when they find out differently. Realtors also feel tricked by management companies. AMC and their business model has ruined the appraiser profession. Most of us have to comment anonymous in fear of not getting any orders that the amc have monopolized.