Why are transaction fees changing?
Transaction fees on Mercury Network are lower than many competitors, and have never been raised since we launched the paid service six years ago. In that time, we have significantly expanded features, services and order volume. As we expand the value we deliver, we may increase transaction fees on Mercury over time to account for expanded benefits.
What are the new transaction fees?
On July 11th, transaction fees paid by vendors will increase to:
- Full scope products $14.50 (75¢ increase)
- Limited scope products $6.00 (25¢ increase)
What does Mercury do for appraisers?
Transaction fees on Mercury Network have always been amongst the lowest in the industry, and have never been raised since we launched the paid service six years ago, despite dramatically expanded features and services including:
12 New Products We've added new reports clients can order, so verify your profile has all the current products you offer. How to check your profile
Enhanced, easier profiles In your profile, you'll notice we’ve added document types, new contact methods, easier updating procedures, new designations, acceptable payment types, out of office functionality, automatic E&O updates, and more.
Fee panel transparency Now, you can see which fee panels you’re on.
Support for multiple profiles You can now add two unique profiles per license to separate personal clients from a company profile. How to set up subaccounts
Mercury Mobile for iOS and Android Appraisers using the free mobile app are responding to orders 86% faster on average and turning reports a full day faster. Download it now
Eliminating software requirements You no longer have to buy any additional software, and you can now manage all your Mercury orders from the portal rather than logging in to other systems.
Commercial bidding opportunities New features were just released for commercial appraisers to bid on assignments, and we’ll continue to grow by onboarding commercial lenders. Update your profile for commercial orders.
Expert support for delivery plugins You can now call us directly for any questions regarding your delivery plugins inside a la mode’s formfilling software.
Help with any order via live chat When you’re logged in, just click the new “Chat Now” button and you’re instantly connected to our client relations team.
Millions invested in drawing new clients to Mercury We’ve grown the platform dramatically and now support more than 700 lenders and AMCs for more exposure for you, as well as consolidated order management.
Plus, there are several new tools coming soon, including:
Ability to auto-accept orders from chosen clients Soon, you can automatically accept orders from the clients you choose.
Client specific stats See your client specific stats including number of orders and amount paid, broken out by location and product.
More enhancements to your profile You will be able to Include photos, more bio information and even get preferred placement.
How can I adjust my published fees to offset the transaction fee?
Log in to Mercury and adjust your profile’s Products tab. Click here for a full walkthrough.
I received an order, but the fee isn't high enough or the turn time is too quick. What can I do?
You can conditionally decline the order and let the client know the fee (or turn time) you can accept. Click here for a walkthrough.
Do I need to do anything in preparation?
No. You will see the new transaction fees when accepting orders after May 23rd, 2016. If you want to adjust your published fees to offset the transaction fee, you can log in to your vendor profile and update your Products list. Click here for a walkthrough.
How can I get more orders from clients on Mercury?
We’ve compiled a list of resources here for appraisers looking to get more orders from clients on Mercury.
How many lenders use Mercury now?
Since 2008, we’ve dramatically grown the order volume on Mercury Network. Today, we support more than 700 lenders and AMCs.
Where can I send feedback?
Your opinions are critical to us. Please send your feedback to info@MercuryVMP.com.