AMC Survey Results Announced
The University of Houston’s Hobby Center for Public Policy has reported the results of a major appraisal fee survey. The survey and report were commissioned by the Texas Appraiser Licensing & Certification Board (TALCB) and updates a 2012 survey required by House Bill 1146 in the 82nd legislative session. Both surveys were produced with significant assistance from the Real Estate Center at Texas A&M University. In January and February 2015, the Texas Appraisers and Appraisal Management Company Survey received responses from 1,421 appraisers and 55 appraisal management companies doing business in the state of Texas.
Goals of the survey included exploring and measuring data on the following topic areas: distinguishing between fees paid to appraisers by Appraisal Management Companies (AMCs) and fees paid by non-AMC clients for residential appraisals; capturing any difference in fees paid by property and report type; capturing any impact on fees by market area or locale, including urban vs. rural; determining whether appraiser qualifications or experience impact fees paid; determining how far appraisers travel for an assignment; and if from another state or region, how much time is spent gathering local data for the appraisal; and determining what, if any, predetermined fee structure AMCs offer appraisers for residential appraisals.
Some highlights of the survey results include:
- 41 percent of respondents completed assignments mainly within 50 miles of their cities, which was similar to the number reported in 2012 (42 percent).
- 25 percent of appraisers did not complete any assignments for AMCs compared to 5 percent who exclusively did work for AMCs. 38 percent of appraisers completed at least half of their assignments for AMCs, whereas 51 percent completed half or less. The percentages in 2014 were similar to the proportions reported in 2012.
- The majority of appraisers received a fee between $300 and $450 for residential appraisals from AMCs. By contrast, a majority reported receiving between $350 and $450 from lenders, individuals, or other non-AMC clients. The fee ranges reported for 2014 were very similar to amounts reported in 2012.
We have also published the results from the 2012 survey.