Appraiser CooperativeAlternative To Appraisal Management Companies

The inevitable has happened and now more and more real estate appraisers find themselves doing business with some kind of management company.

The residential real estate appraiser who accepts appraisal assignments from mortgage brokers and lenders, and is not dependent on outsourced appraisal assignments as some percentage of their business, is quickly becoming an exception rather than the rule.

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• The introduction of the Home Valuation Code of Conduct (HVCC) and it's appraisal ordering guidelines certainly indicate that the use of Appraisal Management Companies (AMC's) will continue to become more widespread in the foreseeable future.

  Unfortunately, appraisers who accept orders from these types of companies quickly learn that, while there are a few benefits to working with AMC's, the disadvantages tend to significantly outweigh any of the advantages.

  Quite often appraisers, who work with AMC's, report that after they receive an order, the management company immediately begins to pester them with phone calls and e-mails requesting status updates, corrections or addendums. Lenders and appraiser's both report, more often than not, that the appraisal management company's staff is ill-informed and almost completely untrained in the appraisal process; and as such a great amount of the AMC's appraiser's time is actually spent in trying to explain the process.

  For many, it seems that AMC's are nothing more than an inefficient messaging system that simply passes notes back and forth between the lender client and the appraiser and all too often the information is distorted, which only heightens the frustration of everyone involved. Thus it is easy to see why most appraisers feel that AMC's only add another layer of red tape, in this highly regulated industry, without improving the process for either the lender or the appraiser - and then the AMC has the audacity to charge a fee for the confusion they cause.

Join Us

You do not have to pay anything to begin receiving orders, but you do have to be part of our Appraiser Cooperative. Our Cooperator Appraiser application process is simple and straightforward because we only select the best. To view or download a copy of our application, Click Here. or send an Appraiser Inquiry by clicking here.