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  #1  
Old 09-22-2004, 10:49 PM
Vic Stanionis Vic Stanionis is offline
 
Join Date: Oct 2003
Location: New York
State: New York
Professional Status: Certified Residential Appraiser
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To all those that have successfully jumped through this hoop...

I dropped into a Mortgage Broker's office today and when I asked if he needed anyone to handle some appraisal work for him in the area, he bounced the question to me if I am on any lender approved lists.

Well I may be through other appraisal shops I have worked or am working with currently. However how do I get on them for myself and my company? Any ideas on how or who I need to contact to make them on these lists? Any assistance is always appreciated! Thanks.......

Vic
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Old 09-22-2004, 11:09 PM
Steve Owen's Avatar
Steve Owen Steve Owen is offline
 
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Location: Joplin, Missouri
State: Missouri
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Vic, each lender has their own criteria. Most appraisers get on the list by having an MB who wants them on it. :lol: In all likelihood, the BM oh, excuse me, MB is just using that as an excuse. One thing I do is keep a file on anyone I send info to. However, I'm sure that I'm on a lot of approved lists I don't even know I'm on. I always kind of figured it is up to the MB to keep track of that.

Seriously, this is a major problem for newbies. Here are some ideas I used way back when. One of the things I did was to prepare a resume that included a list of clients I have worked for. I also appraised my own house to use for a demo report. When a lot of the lenders used to say they wanted at least three years of experience (and I only had two) I sent them number of files and number of hours instead and made the point that I had worked more hours and done more appraisals than a lot of appraisers with three years on their own. I also made the point that I was general certified, which will help some of you, but not all - I touted it like a higher level, when, in fact it makes little difference for residential appraising. Basically, use anything you can think of. In the meantime, you might try to find someone to team up with. That's about all the things I can think of right now, but I'm sure there are others here that will come up with other things. Good luck.
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  #3  
Old 09-23-2004, 09:11 AM
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Otis Key Otis Key is offline
 
Join Date: May 2004
Location: Mile High
State: New Mexico
Professional Status: Certified Residential Appraiser
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Vic - Steve gave you the best answers right there. I'm on lists of investors and secondary markets that I have never even heard off. I didn't apply. An MB sent the work - it was sent for a review - came back as okay and I was added at some point. I have applied to one, and only one, portfolio lender in the last 10 years. Every time anyone applies they send out this polite - FU - our list is full. I only applied because of a high volume LO who went to work for a subsidiary company. When I got the "polite" denial letter I called him and said that was absolutely the last time I would apply. He said he understood and that he would actually shove my work down their throats until they opened up the list.

I haven't sent any samples in years. Resumes are a common practice, along with the license. Like Steve said - associate with someone - sign on the left with or without them. That's how it will work best.
  #4  
Old 09-23-2004, 10:15 AM
Ross (CO) Ross (CO) is offline
 
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Location: Colorado Springs
State: Colorado
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Go to some Chamber of Commerce social after-hours function, pay your $10 to get in and to cover the hors doerves served, print your name in big letters on the name tag...and then go press some flesh. Look for anybody whose business name or title may remotely need an appraiser, and certainly say hello and start to extend a handshake toward anybody....who makes eye contact with you, because they may know somebody who needs an appraiser.

Approved lists are basically as trumped-up and bogus as one's requests for you to provide samples of your work ! These are two hurdles that can be brushed aside if you can get in-close with your potential client. (A smaller boxer is more effective if he gets right inside an opponent, strikes close and hard, rather than staying at full arm's length away. Get in-close....but don't punch the guy's lights out. That would be mean-spirited, and you'll not get any orders from him) By that I mean, have a face-to-face interview with them. You meet them, they meet you, you ask them softball questions that yield easy and positive answers and then you share with them your approach and philosophy to what you do, and why and how that will serve this person, and the person "behind him" whose hand you'll never shake and who you'll likely never meet.

Make statements that allow you to assume he/she is NOT interested in requesting pre-comps, comp-checks and pre-reporting and nod your head up & down until you see their head nodding up & down in like fashion. Take that wind right out of their sail. Now, they will not ask you....if you do comp checks ! Be ready to give them at least 1 or 2 names of someone with whom your working relationship is/was un-blemished even if that was a report from a year ago. Somebody....because they just may be persistent on that.

Swap business cards and invite them to phone you when they have a possible assignment in the coming days. If the person you're speaking with is NOT the decision-maker, then ask for that other name and write it down on back of the card. If they have an email address, learn it then. If you have just had a very upbeat exchange of a few sentences, then see that as your time to part ways....and move on to others in the room. That's why stage comedians will end their skit at a moment of the biggest applause, even if that is 5 minutes short of expected. That's why football players retire after their team wins a Super Bowl. Go out on-top. Make your interview short, bedazzle them, give them your business card....and get out of there. Do that right and they will have no real need to ask for samples and you'll automatically be on their "approved" list. Suggest that your first report be that "sample".
  #5  
Old 09-23-2004, 10:27 AM
tommcsherry tommcsherry is offline
 
Join Date: Mar 2004
Location: N38 57.536' W123 6.620'
State: Nevada
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That's a classic Ross....and should be saved as a sticky over in the marketing forum!
  #6  
Old 09-23-2004, 11:12 AM
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Steve Owen Steve Owen is offline
 
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Yeah, Ross. I forgot to mention the Chamber of Commerce thing. I've been doing that for more than ten years. In our area you meet a lot more bankers than MB's that way, which is a good thing IMHO because banks are better clients than mortgage companies, even if somewhat less steady. I forgot because I haven't done the chamber morning coffee or after hours for awhile. I still will, though - anytime I don't have at least a three week backlog I trot down there and within the next couple of days there is some banker on the phone who wants an appraisal - works like magic. They seem to forget you exist if they don't see your face every now and then. I touted it a little bit too much around here and now there are several appraiser members of the Chamber (I used to be one of only two). :lol:
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  #7  
Old 09-23-2004, 01:52 PM
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Ryan Nyberg Ryan Nyberg is offline
 
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Location: Washington
State: Washington
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All good answers. I will add this that there are some "lists" that you do not want to be on. Some companies keep lists of appraisers that they will not accept work from. I know of a few large finance companies that do this.
  #8  
Old 09-23-2004, 10:26 PM
Doug in NC's Avatar
Doug in NC Doug in NC is offline
 
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Location: NC Triangle
State: North Carolina
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I suppose you are on the right track. Ideally, you want to get on a few lists while you are working with another appraiser. Next, you will work to get on various MB investor lists, then after you have gotten on a number of lists, you will work on getting added to the bank lists. At least this is the path that I followed. I found Bank of America and Wachovia to be nearly impossible to get added to, short of having someone with an inside contact. Broker lists were easier to get on as they typically have low standards anyway (alright, I admit it, I can't stand brokers!).

If you can convince the MB to get you added to the necessary lists, that is the way to go. Its a catch 22. He is telling you that you need to be on certain lists, but unless he wants you to, you aren't going to get there. You need to convince the MB why you should be added to the necessary lists (ie. short turnaround times, high level of service, ability to get reports through underwriting with no red flags, work on weekends, etc.). You need to make yourself stand out from the rest of the pack - this should not include making promises that you will make every deal a success, or that you won't charge a fee if a deal doesn't go through.
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