TALCB is pleased to announce the results of the 2019 Appraiser and AMC Fee Survey. TALCB engaged the Hobby School of Public Affairs at the University of Houston to conduct a survey to learn more about the practices of appraisers and appraisal management companies (AMCs) that operate in the state of Texas. Among other goals, the questions were specifically designed to distinguish between the fees paid to appraisers by AMCs and fees paid by non-AMC clients for residential appraisals and capture any difference in fees paid by property type or other factors. Additionally, the survey looks at the impact on fees by market area, appraiser qualifications, and distance traveled for assignments.
The full results of the survey show a wide range of valuable information for all appraisers, AMCs, and consumers. Some key highlights from the report include:
- The majority of respondent appraisers received between $350 and $500 for residential appraisals from appraisal management companies. Similarly, they received higher fees between $451 and $500 from lenders, individuals, or other non-appraisal management companies. It seems that the amount of fees received by respondents for residential appraisals from appraisal management companies and from lenders, individuals, or other non-appraisal management companies in 2019 was slightly higher than that of 2017. However, we should not overemphasize this difference, given the fact that the vast majority of respondents either chose "No Answer" option or refused to answer the questions about fees.
- 43 percent of respondents completed assignments within 50 miles of their cities, which was similar to the proportions in 2012 (42 percent), 2015 (41 percent), and 2017 (41 percent). Sixteen percent completed assignments within 100 miles of their cities, which was the same as the results in the previous three surveys (2012, 2015, and 2017). Finally, 8 percent completed assignments regardless of their location, which was slightly lower than the 10 percent that reported doing so in 2012, 2015, and 2017.
- 25 percent of respondent appraisers did not complete assignments for appraisal management companies, which slightly decreased from 28 percent in 2017. The percentages in 2019 were similar to the proportions of 2017, which showed that 42 percent of respondents completed at least half of their assignments for appraisal management companies and 57 percent accomplished half or less.
- 16 percent of respondent appraisers completed appraisals exclusively for lenders, individuals, or other non-appraisal management companies, which slightly decreased from 17 percent in 2017. 47 percent of respondent appraisers completed at least half of their assignments for lenders, individuals, or other non-appraisal management companies, whereas 45 percent completed half or less. The percentages in 2019 decreased slightly relative to 2017, which showed that 49 percent of respondents accomplished at least half of their assignments for lenders, individuals, or other non-appraisal management companies and 50 percent accomplished half or less.
We have also published the previous survey results on our website for reference:
TALCB thanks the University of Houston for their assistance in conducting this critical survey. The agency would also like to thank all those who participated in the survey. The information included in these findings will be essential for the agency's continued mission of consumer protection and enforcement.