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Jim

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Reply with quote  #1 
As Mr. Bryant has noted in the past, its a really good idea for a self-employed appraiser to get a real estate license and hang it at a brokerage office.  I did that once was paying $23 a month for office dues and had access to FMLS and GA MLS.

Does of anyone know of a commercial brokerage office where an appraiser can do the same?

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Meatloaf

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Reply with quote  #2 
Uhhhh..... Why?
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MEP

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Reply with quote  #3 
I would guess it will be more difficult...commercial real estate is more complex...why train your competition?
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Jim

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Reply with quote  #4 
Twelve years ago I think I was paying around $450 a quarter for FMLS.  Years later, I had my real estate license and was paying $23 a month for FMLS and GA MLS.  $1,800 per year vs. $276 per year.

Other than the initial investment of time for studying, obtaining a real estate sales license and hanging it at a sales office can be a great benefit for a long-term, self-employed appraiser. Costar is a heck of a lot more in dues than FMLS & GA MLS. 

Jim
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Meatloaf

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Reply with quote  #5 
It really is sickening to see folks come on here and gripe about the cost of data.

It really doesn't matter what it costs.... Every appraiser residential and commercial has to have it so it is factored into our fees already.

I mean really.... If the cost of the data is such a deciding factor of whether you can be profitable or not then it doesn't matter what the data costs you won't generate enough business to cover it anyway.

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MountainBoy

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Reply with quote  #6 
I too got my RE Sales License about a year ago. While I loved paying $400 or so a month in data fees, I love paying $23 a month even more. 

The way I see it, I gave myself a $4,000 to $5,000 a year raise from here on out if appraisal data fees stay the same, which they won't. If appraisal data fees keep going up, then so will my raise. I feel kinda dumb for not doing it sooner.

As an added bonus, I get to tell agents from time to time that I do in fact know what I am talking about as I am a licensed agent also. To date, no agent has rebutted with the words "well I am an appraiser too."
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RubberStamp

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Reply with quote  #7 
$400 a month is an extraordinary cost for data.  Wow.  That's about my yearly cost but I'm not in GA.  GA seems to be very weird about their data and appraisers take the brunt of it. 

Data is priced to be shared..   but with the AMC debacle there are few shops and no shops where you can make a decent living..   So they have us completely divided and conquered yet the MLS services have you paying like you are a sales broker making $500k with 10 agents working for you.  Its insane. 

I really hope I live to see the day appraisers get a fair shake again. 

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We argue this: Meanwhile the agent's assistant just did 5 unofficial appraisal inspections they paired with a Zestimate and granted 90% LTV - all guaranteed no buy back.
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Meatloaf

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Reply with quote  #8 
Just curious... Why would one expect an MLS service to offer data to an appraiser at a price equal to or less than what an agent would pay?

Appraisers just use the data and do not contribute to it.  

Data is priced to be shared???? REally?  Maybe in Cuba.

If everyone shares a membership... it just raises the cost of the membership.  Duhhhhhh

In my market everyone is required to have their own membership.  Appraisal office with 5 appraisers will have 5 memberships.  I pay about 175/month for data and I have my own memberships.  I dropped Crumpton (or rather they went out of biz) and I only use two MLS services.  Yet you don't see me gripping about the cost of data.  If everyone bears the same costs, it doesn't matter what the cost is.  It only becomes a problem when skippy is getting it for free or cheap.

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RubberStamp

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Reply with quote  #9 
Quote:
Originally Posted by Meatloaf
Just curious... Why would one expect an MLS service to offer data to an appraiser at a price equal to or less than what an agent would pay?


You must be getting your data from a shared source.

So the short answer to your question is "if only if we could pay what agents pay".  Instead it is many, many times more.  If mountainboy was paying $400/mth that is about 100x what an agent pays and even then the agent's broker probably paid that for them.

Here's the issue (at least in my area):  The MLS services are controlled by sales brokers.  They assume, incorrectly, that the appraisal industry is set up like the sales side.   So MLS charges each individual appraiser the same amount they would charge a broker - a broker who is sharing the data with 3-30 agents in its office.  The fee obviously makes sense for someone bringing in that kind of dough. An appraiser is more like a sales agent then a broker unless you are running a shop of 10+ appraisers.  So to be charged like a broker is ridiculous. 

Appraisers are mostly lone wolves these days because the AMCs have taken the place of the old appraisal shops.  But the AMC doesn't give us squat, only takes.  So we are forced to fend for ourselves to get data.  And that is when MLS will charge you the same as large sales brokerage firm to use the data.   If you try to share or merge with other independent appraisers it is illegal and you could be banned. 

Appraiser's should be charged as if there were a mother ship for appraisers - one appraisal brokerage - and if you are independent you should pay no more than what an agent would be charged as an add on for a broker. 




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We argue this: Meanwhile the agent's assistant just did 5 unofficial appraisal inspections they paired with a Zestimate and granted 90% LTV - all guaranteed no buy back.
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Meatloaf

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Reply with quote  #10 
Quote:
Originally Posted by RubberStamp


You must be getting your data from a shared source.

So the short answer to your question is "if only if we could pay what agents pay".  Instead it is many, many times more.  If mountainboy was paying $400/mth that is about 100x what an agent pays and even then the agent's broker probably paid that for them.

Here's the issue (at least in my area):  The MLS services are controlled by sales brokers.  They assume, incorrectly, that the appraisal industry is set up like the sales side.   So MLS charges each individual appraiser the same amount they would charge a broker - a broker who is sharing the data with 3-30 agents in its office.  The fee obviously makes sense for someone bringing in that kind of dough. An appraiser is more like a sales agent then a broker unless you are running a shop of 10+ appraisers.  So to be charged like a broker is ridiculous. 

Appraisers are mostly lone wolves these days because the AMCs have taken the place of the old appraisal shops.  But the AMC doesn't give us squat, only takes.  So we are forced to fend for ourselves to get data.  And that is when MLS will charge you the same as large sales brokerage firm to use the data.   If you try to share or merge with other independent appraisers it is illegal and you could be banned. 

Appraiser's should be charged as if there were a mother ship for appraisers - one appraisal brokerage - and if you are independent you should pay no more than what an agent would be charged as an add on for a broker. 





Sure... If only unicorns could poop m&m's instead of skittles.

In my area every agent pays the same amount.  Brokerages are charged $10000 to join and appraisers are charged $1000 to join.  Every agent and appraiser pays the same amount and there is NO sharing.

Back in the day when MLS books were used an agent let a buyer borrow a book over night... That agent lost their membership and was basically out of a job and became another agent's secretary before getting into the mortgage business.  MLS data is not for free distribution.  For an appraiser to expect a discount because they are an appraiser is stupid.  An appraiser should technically be paying more since they are not providing any data into the system.

I would be happy if MLS data were $2500/month.

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johnmbryant

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Reply with quote  #11 
Call Mary Gasparini at Drake Realty.  770-365-4865.

$49 per month includes GAMLS and FMLS.  $29 per month for FMLS only.  You must have a sales license (I think).

This was the last time I talked to her but I don't think it has changed.
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pnalley

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Reply with quote  #12 
I have my Assoc brokers license with Drake. I pay $49 per month for GMLS, FMLS and that covers E&O on sales 80/20 split.

I was an Assoc. Broker before I jumped over to appraising. I think it makes sense to get your data cheaper. More money in my pocket
 Mary is awesome!

BTW I have never been to the office. I only work with family or friends on the sales end. I mail the closing statement & commission check in. I get my portion about 3 days later

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Meatloaf

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Reply with quote  #13 
So... let me get this straight.

I can start a brokerage and pay for one membership... Then I can sell access to that membership to as many people as I want.

That sounds like a possible business plan... maybe I can sell it for $48/month.

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nogava

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Reply with quote  #14 
Aside from collecting recurring monthly/annual fees and whoring data to CoreLogic and the like, our beloved FMLS also gets almost a quarter of a percent of the purchase price for each transaction from the brokers involved.  If NAR would step in and prevent the prostitution of data for the good of all involved in the industry, there may be a future to the business.  The proprietary knowledge is leverage.  Sorry to deviate from the OP. 
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johnmbryant

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Reply with quote  #15 
I believe there is a minimum annual production required by FMLS from the broker.  If the minimum is not met, the broker writes a check.  This probably prevents selling FMLS access as a business plan.
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Jim

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Reply with quote  #16 
I had my license with First United Realty years ago and never met anyone at the office.  That $23 monthly check to the brokerage was so much easier to write that the $450 quarterly check to FMLS.
What I'm trying to find out if anyone was familiar with a brokerage who also has the commercial database Costar.  Years ago I paid over $300 per month for Costar and I think it is two or three times as much now.
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Meatloaf

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Reply with quote  #17 
Quote:
Originally Posted by Jim
I had my license with First United Realty years ago and never met anyone at the office.  That $23 monthly check to the brokerage was so much easier to write that the $450 quarterly check to FMLS.
What I'm trying to find out if anyone was familiar with a brokerage who also has the commercial database Costar.  Years ago I paid over $300 per month for Costar and I think it is two or three times as much now.


So... just curious... in the years since you paid $300/month for CoStar what have you done for data?

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Jim

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Reply with quote  #18 
I've been working at a commercial firm and getting Costar.  But I've been considering going to a corporate job and perhaps occasionally doing an appraisal job.  
The job market is getting so strong in telecommunications in Atlanta and hiring is increasing. For someone who can get a specialty certification and some experience under his belt, can make over $100,000 and only work 40 hours a week. You have to get continually diversity training, gender-relations training, and all that kind of stuff, but what difference does it make, as long as they are paying you. 
A friend of mine who is a male said his latest round of training involved some type of outreach to a person of another race or gender (even though is wife and boss are oriental and he isn't). At their Las Vegas conference, he walked into the Women's Only meeting. When the speaking confronted him, he explained that he had never had a female boss and wanted to learn.  Minutes later she asked him to stand up in of the crowd of hundreds of women. She congratulated him for his eagerness and the whole room stood up and clapped. 
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Meatloaf

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Reply with quote  #19 
Quote:
Originally Posted by Jim
I've been working at a commercial firm and getting Costar.  But I've been considering going to a corporate job and perhaps occasionally doing an appraisal job.  
The job market is getting so strong in telecommunications in Atlanta and hiring is increasing. For someone who can get a specialty certification and some experience under his belt, can make over $100,000 and only work 40 hours a week. You have to get continually diversity training, gender-relations training, and all that kind of stuff, but what difference does it make, as long as they are paying you. 
A friend of mine who is a male said his latest round of training involved some type of outreach to a person of another race or gender (even though is wife and boss are oriental and he isn't). At their Las Vegas conference, he walked into the Women's Only meeting. When the speaking confronted him, he explained that he had never had a female boss and wanted to learn.  Minutes later she asked him to stand up in of the crowd of hundreds of women. She congratulated him for his eagerness and the whole room stood up and clapped. 


Maybe you should consider some of the same training.  I don't know anyone one who cares to be called "oriental".

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