ANOW

[J Grant]

You bring up some good points! We're working on smarter scheduling (borrowing ideas from tools like calendly) which is aware of existing appointments, booking window preferences, vacation blackouts and that sort of stuff. I think there's several improvements/semi automations that can be made to help with scheduling. Other industry tools like contracting software for plumbers etc which require booking appointments have this sort of thing built in. For example, have a text and email go out to person you're inspecting with and they can pick from a set of available time slots - if implemented correctly, this could reduce a lot of the annoying admin back and forth for getting an inspection time down.

This one is pretty helpful for folks that do a lot of bids. Let's you know right away info about the property without the extra steps of looking it up in property records. Yeah, Spark is super neat on the analysis side.

Appraisers who rank well on Google for their area get most of the cold inquiries - useful if you're after new private work and or commercial.

In general, yo're thinking the right way - about how appraisers can attract more diverse clients and make more money.

It is not abour smart scehcudling and all that for appointments, it is the difficulty of actually getting the appointment with some borrowers - who do nto call back ( same for their RE agents ) and who don;t respond to texts, who are out of town, the client sent wrong info and on it goes
More scheduling and computer help is not the answer, that is what I am trying to convey to you. These programs do not solve the real timeconsiuming and stressful aspects of appraising and they if they save 5- 10 minutes an order, like who cares - sorry but if you want feedback that is the feedback from a working , busy appraiser.

There are no more diverse clients out there in many cases. Taht is what I am also trying to convey. Appraisers are sick of generic suggestions, which do not apply in real life. If there were all these diverse clients out there for res appraisers to get, people would not be quitting in droves, or making it into a part-time gig, or hanging in a year till retirement view.

IDK, if you and your wife are fluent in Ukrainian and Russian languages, some kind of translation or interface for the coming restoration of Ukraine, because it will happen and it will be financed with tens of billions of $ dollars.
The defense industry is booming - get a contract with one of those companies - just saying go where the money is, not where it isn't

Get us wto ork appraising the bombed out buildings and sites in Ukraine to compensate owners or to allocate money to rebuild - thanks, I will take 10% of the earnings for the idea!

 

[J Grant]

Honestly J - Your comments are just so limited to a one person shop. The solutions offered by a sophisticated program, such as Appraiser Inbox or ANOW, is probably overkill for a single appraiser. (Although I would still use it, because I am a little OCD.)

Those of us who have several appraisers covering half of the state, need something much more than just a scratch pad and a good eraser, or a spreadsheet alone.

And for measure - ANOW started as an appraisal firm solution, for folks like me. The whole UWM thing came years later and changed the purity of their product in my view. But I didn’t own them, and it was what it was - and is what it is.

One thing that ANOW doesn’t do (or any of the other providers) - None of them come out to the chaotic world of blogs to commune with the appraisers, listening and discussing the profession like Chase is doing. I admire that, and I’m betting he tweaks his product accordingly when there is good cause or a need being unfulfilled.

but the reality is that the majority of appraisers are one-person shops. If in a firm, many work at home as one-person operations on a fee-split basis. What kind of operation do you run as a fee shop, if you cover half the state with so many appraisers? Over 7 appraisers to my knowledge, over 7 appraisers , the business has to form an AMC for res lending work.

If there are a bunch of fee shops that will order his program, then my take on it was wrong. As far as I know, though, via what has been reported, many fee shops shrank or closed, except in commercial areas, and they seem to be managing their orders fine with whatever software they use, but if his product fills a demand, it will succeed.

 

[Tom D]

The good, bad and ugly. This thread is about the bad & ugly. Nothing good said here for it to be the business it was in the past.

Every greedy bast*rd comes out wanting a piece of your profit. But it was a good ride, time to take this car to the junkyard crusher.

 

[Dale Floyd]

but the reality is that the majority of appraisers are one-person shops. If in a firm, many work at home as one-person operations on a fee-split basis. What kind of operation do you run as a fee shop, if you cover half the state with so many appraisers? Over 7 appraisers to my knowledge, over 7 appraisers have to form an AMC.

If there are a bunch of fee shops that will order his program, then my take on it was wrong. As far as I know, though, via what has been reported, many fee shops shrank or closed, except in commercial areas, and they seem to be managing their orders fine with whatever software they use, but if his product fills a demand, it will succeed.

Your take is inaccurate, but that’s okay. You have a perspective limited to what you’ve known. I’ve been there, and I’ve been here. I was successful as a sole proprietor, just as you, and have found success as a larger corporate firm with respect to the rural areas and properties we specialize in at our firm.

There is no requirement in Tennessee to become a licensed AMC unless the company is in that 3rd party business. AMCs manage the product for the benefit of their clients. AMCs do not manage the appraiser or the business of appraisers.

 

[J Grant]

AI Overview


Appraisal firms must typically form an Appraisal Management Company (AMC) if they manage a panel of over 15 state-certified or licensed appraisers in one state, or 25 or more in multiple states, within a 12-month period
. This requirement applies when providing appraisal management services for consumer credit transactions secured by a primary residence or related securitizations. The appraiser panel includes independent contractors, but generally not salaried employees, approved by the AMC. State agencies primarily regulate AMCs, with minimum standards set by federal financial institutions and agencies.

see above - it is a federal level, not state by state -- 15 appraisers is the threshold ( I incorrectly stated 7)

• 
  
• eCFR (.gov)
  
  

Show all

 

[J Grant]

AI Overview


An appraisal firm is generally required to form and register as an Appraisal Management Company (AMC) if it oversees an appraiser panel that exceeds a certain number of appraisers
.
This threshold is defined as:

• More than 15 state-certified or state-licensed appraisers in a single state
• Or more than 25 state-certified or state-licensed appraisers in two or more states.

The purpose of these regulations, particularly those stemming from the Dodd-Frank Act, is to ensure appraiser independence and prevent undue influence on valuation processes for consumer credit transactions secured by a principal dwelling. This helps maintain the integrity of the appraisal industry and protect consumers.
It's important to note that state laws and regulations for AMCs can vary, according to Valuation Review. While the federal threshold serves as a minimum standard, individual states may have their own additional requirements for registration and oversight of AMCs.
If a firm exceeds these thresholds, it's obligated to register as an AMC with the appropriate state appraisal certifying and licensing agency and be subject to its supervision. Additionally, these registered AMCs are included on a national registry maintained by the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC).

 

[Dale Floyd]

The good, bad and ugly. This thread is about the bad & ugly Nothing good said here for it to be the business it was in the past.

Every greedy bast*rd comes out wanting a piece of your profit. But it was a good ride, time to take this car to the junkyard crusher.

I understand your frustrations - truly I do. But the one thing I’ve known since my first interaction with appraiser peers in 1986, remains the very same today. Appraisers are the most negative minded professionals who exist, and not without cause. It’s difficult to marry a profession that sees all the bad, and analyzes all the negatives without that becoming ingrained into our DNA and personality. No professional is beat up more than the appraiser and that takes its toll.

I made a decision a long time ago, that I will never allow that to overwhelm me. Business is still very good for us. It isn’t the same as the easy stuff we used to see, which is fact, but there’s still so much need for our services beyond just easy money assignments. I believe there will always be a need for an honest appraiser, regardless of the ever changing appetites of lenders, AMCs, GSEs, or any out there who wish to control this business.

 

[Dale Floyd]

AI Overview


An appraisal firm is generally required to form and register as an Appraisal Management Company (AMC) if it oversees an appraiser panel that exceeds a certain number of appraisers
.
This threshold is defined as:

• More than 15 state-certified or state-licensed appraisers in a single state
• Or more than 25 state-certified or state-licensed appraisers in two or more states.

The purpose of these regulations, particularly those stemming from the Dodd-Frank Act, is to ensure appraiser independence and prevent undue influence on valuation processes for consumer credit transactions secured by a principal dwelling. This helps maintain the integrity of the appraisal industry and protect consumers.
It's important to note that state laws and regulations for AMCs can vary, according to Valuation Review. While the federal threshold serves as a minimum standard, individual states may have their own additional requirements for registration and oversight of AMCs.
If a firm exceeds these thresholds, it's obligated to register as an AMC with the appropriate state appraisal certifying and licensing agency and be subject to its supervision. Additionally, these registered AMCs are included on a national registry maintained by the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC).

“if it oversees an appraiser panel that exceeds a certain number of appraisers”

“The appraiser panel includes independent contractors, but generally not salaried employees, approved by the AMC.”

We have no panel of appraisers. That’s what AMCs do. Ours are true employees, not contractors although no where near the numbers quoted in your article.

Regardless, you are barking up the wrong tree no matter what your opinion is.

 

[J Grant]

Personally, I think the above stinvoe

I understand your frustrations - truly I do. But the one thing I’ve known since my first interaction with appraiser peers in 1986, remains the very same today. Appraisers are the most negative minded professionals who exist, and not without cause. It’s difficult to marry a profession that sees all the bad, and analyzes all the negatives without that becoming ingrained into our DNA and personality. No professional is beat up more than the appraiser and that takes its toll.

I made a decision a long time ago, that I will never allow that to overwhelm me. Business is still very good for us. It isn’t the same as the easy stuff we used to see, which is fact, but there’s still so much need for our services beyond just easy money assignments. I believe there will always be a need for an honest appraiser, regardless of the ever changing appetites of lenders, AMCs, GSEs, or any out there who wish to control this business.

You are the exception to the rule, then. Or are the 90% of appraisers reporting a decline in income and options all losers? I hardly think so; they are reporting the reality out there.

There will always be a need for appraisers; however, the income and options on the res license end are limited in many cases. a problem for most. I personally am doing fine but am reporting my overall take on the business.

 

[cpursley]

It is not abour smart scehcudling and all that for appointments, it is the difficulty of actually getting the appointment with some borrowers - who do nto call back ( same for their RE agents ) and who don;t respond to texts, who are out of town, the client sent wrong info and on it goes
More scheduling and computer help is not the answer, that is what I am trying to convey to you. These programs do not solve the real timeconsiuming and stressful aspects of appraising and they if they save 5- 10 minutes an order, like who cares - sorry but if you want feedback that is the feedback from a working , busy appraiser.

Similar solutions already exist in other industries requiring service appointments (plumbing, electric, etc). For example, instead of phone tag (call back issue), if borrower could select a time from your specifically blocked time via text or email - that would help mitigate a big part of that. Not a lot about wrong info from lender, but pulling public records does help with that (because it will show owner of property). It's a tricky problem to solve and I need to do some experimenting.