Virginia Regulatory Town Hall
Agency
Department of Professional and Occupational Regulation
 
Board
Real Estate Appraiser Board
 
chapter
Appraisal Management Company Regulations [18 VAC 130 ‑ 30]
Action Initial Appraisal Management Company Regulations
Stage Proposed
Comment Period Ended on 3/28/2014
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3/25/14  7:58 am
Commenter: John Sinnen, SinnenGreen & Associates

AMC Regulations, Reasonable & Customary Fees
 

There are efficient and fair AMC's working in Virginia that do pay appraisers a reasonable fee, however there are too many AMC's that pay the appraiser much less and cut corners to beat the competition that attract poor appraisals that just put a number on an appraisal with little supporting data and narrative explanation from lesser qualified appraisals that cut corners. AMC regulation should be implemented to ensure a reasonable & customary fee which will result in higher quality and more credible appraisals.

CommentID: 31493