Recently Became Certified - Getting On Approved Lists

[spittman]

What do you think about purchasing this AMC Directory for 2018, It promotes that there are some of the top 10 AMCs, and over 300 AMCs, with direct contact information correct, website, etc? Or am I better off surfing the net to gather information ? Thanks in advance for your response .

I would start by looking on your state board website to see if they are approved in your state. My state has a list that is 6 or 7 pages long. I would be very hesitant to do business with any AMC or lender that is not on the approval list. Your state board may even list any complaints against the company. What I did after I found my list was came on here to research each and every company for any reviews of the companies. You will find some good reviews, some bad or maybe not very much info. What you have to understand about doing your own research is that most [IMHO] reviews are going to be bad because everyone is quick to complain when a company does something they don't like. You may find very little good reviews about an AMC because not many people go out of there way to praise a company on how good they pay, 2-3 week due dates, no stips, friendly relations, etc.

Ultimately you will have to decide if you want to work with that company or not. I say sign up with them if there are mixed or even no reviews. Terms are always negotiable. Try one and go from there.

 

[devin]

I would start by looking on your state board website to see if they are approved in your state. My state has a list that is 6 or 7 pages long. I would be very hesitant to do business with any AMC or lender that is not on the approval list. Your state board may even list any complaints against the company. What I did after I found my list was came on here to research each and every company for any reviews of the companies. You will find some good reviews, some bad or maybe not very much info. What you have to understand about doing your own research is that most [IMHO] reviews are going to be bad because everyone is quick to complain when a company does something they don't like. You may find very little good reviews about an AMC because not many people go out of there way to praise a company on how good they pay, 2-3 week due dates, no stips, friendly relations, etc.

Ultimately you will have to decide if you want to work with that company or not. I say sign up with them if there are mixed or even no reviews. Terms are always negotiable. Try one and go from there.

Do you have any ideas on how to market my company for non AMC work?

 

[Terrel L. Shields]

undoubtedly have to go low on the fees since that might motivate the AMC's

That will shoot yourself in the head for years to come.

 

[devin]

That will shoot yourself in the head for years to come.

I don't understand your reply.

 

[bnmappraisal]

Do you have any ideas on how to market my company for non AMC work?

A decent portion of my non AMC work has been from referrals. I leave a business card at each property (vacant or not). I'm a somewhat social guy and can get along with most people (key word, "most")

My current "favorite" client came from a referral from an agent. At the time, the client (direct lender/non AMC) who contacted me didn't have the agent's name (turns out the agent had given my name to a loan officer, who passed my name but not the agents name, on to some processor). It took nearly 9 months before I finally found out HOW I was referred, but it's been a great 2+ year run so far (knock on wood!)

This agent, BTW, is not someone I know for decades or anything (now it's pushing a decade, but at the time, 6 or 7 years maybe?). And is also not one I "hit the number" for nor worked with a lot (they're in the next county over actually). They did hire/refer me a few times for private work. All this takes time, but has worked out over the years. Some networking/socializing can go a long way. I'm not involved in any "networking groups" but I do interact with hundreds of agents and homeowner's each year.

You'd be surprised what a business card, a smile and some professionalism can do for your business

 

[Basically Rectangular]

That will shoot yourself in the head for years to come.

I don't want to shoot myself in the head but I do have obligations. I couldn't have picked a better time to get into this game, it has only taken two years and a 20% pay reduction, plus classes, E&O, & MLS expenses. No orders coming through yet, perhaps I should increase my fees though...

 

[bnmappraisal]

I don't want to shoot myself in the head but I do have obligations. I couldn't have picked a better time to get into this game, it has only taken two years and a 20% pay reduction, plus classes, E&O, & MLS expenses. No orders coming through yet, perhaps I should increase my fees though...

(my bold) Weeeeeeelllllllllll ... when I got my CR, it was 2/2009 and in the midst of, well, you know, the "Great Recession"
So believe me, I understand your frustration

Thankfully my wife was working full time and the main bread winner. I believe that first year (2009) I did around 50 assignments - still paying MLS, E&O, etc. Year 2 was around 75-100? Year 3 around 125 give or take? (If i remember correctly) All this time, too, I was still working for a firm with a 75/25% split between myself/owner.

It wasn't until sometime in 2013 when I went on my own/started my own company that I got an actual "break" A big part of that came from the "volume guarantee" I've talked about before. Did what I had to do/thought best at the time. And yes, was hard to sometimes come on here reading about fees almost DOUBLE what I was accepting for the same type property (non complex SFR). Did my time with that, made my bones, met new agents, honed my skills and have yes...increased my fees. It is a little scary at first increasing your fees. I get that. And at first, you throw out your "new fee" and you hear a slight flinch on the other end, it's easy (and probably normal) to say something like "Well, I could do it for zzz" (slightly less than your new fee, but above the previous fee)

At the end of the day, we have to do what we have to do. I've been on both sides of the fence (between AMCs and Appraisers, Low Fees/Volume Guarantees and full fee direct orders) so I don't cast stones. It does take time, perseverance and a willingness to do right, IMO, but it's possible. I still truly enjoy what I do and the nice part about that is...I get paid for it

 

[Terrel L. Shields]

I do have obligations.

Well keep a stiff upper lip and a tight bunghole. It may be a rough ride

 

[devin]

I've been having issues with finalizing my FHA application, if anyone has the correct link please send it to me, for some reason when It's time for me to submit my application, I get an Error message, about the server is down. Has anyone experiencedown this,? Well I know quite a few of you haven't had to do this in years, but thanks in advance for any input.

 

[spittman]

I've been having issues with finalizing my FHA application, if anyone has the correct link please send it to me, for some reason when It's time for me to submit my application, I get an Error message, about the server is down. Has anyone experiencedown this,? Well I know quite a few of you haven't had to do this in years, but thanks in advance for any input.

There is a help section for application error messages towards the bottom of this link ~~> FHA Connections Help Links. If you are still experiencing trouble, start your own thread in the FHA forum section or better yet, email the FHA admin at: sfadmin@HUD.gov