An appraisal company run like a law firm

[rijman]

Does anyone have experience or knowledge of an appraisal company setup like a law firm with partners and junior partners? Each partner takes on their own clients and contributes work, marketing and management to the firm? The purpose would be to share resources, including support staff and junior partners, while providing total county coverage with experienced appraisers generally covering set territories when practical. Ideally the firm could handle all residential appraisals in a county, whereas some one man shops will turn away complex or outer area work. Over flow and referral work is another benefit as well as working with a group of top local appraisers, which can be beneficial when marketing to smaller lenders, real estate offices, law firms, etc.

 

[valuequestor]

La Law

I started out in a firm that was set up like that in Tysons Corner, Virginia. It was a big operation with 5-7 MAIs in the commercial section and 40 residential appraisers in 3 groups. We had tons of research material available, typists and research assistants. Several of the appraisers I worked with there banded together a few years later and formed a scaled down version. It worked pretty well if you can keep egos in check and remove greedy pigs. Good luck with that

 

[Restrain]

I have seen that down here. However with all the changes, increases costs and liability, etc, most appraisers have seen that after only a few appraisers, net return approaches zero, and have downsized.

 

[rijman]

I started out in a firm that was set up like that in Tysons Corner, Virginia. It was a big operation with 5-7 MAIs in the commercial section and 40 residential appraisers in 3 groups. We had tons of research material available, typists and research assistants. Several of the appraisers I worked with there banded together a few years later and formed a scaled down version. It worked pretty well if you can keep egos in check and remove greedy pigs. Good luck with that

Thank you for the info, this is helpful.

I wonder why this isn't done more often on the residential side, I believe this type of firm is more common on the commercial side.

 

[sputnam]

There always has to be a senior partner. Sooner or later, the senior will hand down an edict that will tick off some other partner or partners. Sooner or later, there will be some kind of revolt or secession. But, while it's working, it can be great.

 

[NC Old Guy]

Now if you could only figure out how to charge by the hour like attorneys. You know, "gosh I thought about your problem as I was driving down the road", "waiting at the bar for my drink", "set the ball on the tee", etc, and then charge $150 for the thought, then you will be organized like attorneys. LOL

 

[PropertyEconomics]

Now if you could only figure out how to charge by the hour like attorneys. You know, "gosh I thought about your problem as I was driving down the road", "waiting at the bar for my drink", "set the ball on the tee", etc, and then charge $150 for the thought, then you will be organized like attorneys. LOL

I have a friend that is a comptroller for a large law firm ... there are many times at the end of the year like now, where the partners get notice that not only will they not be receiving a partnership pay out but they need to contribute $XX,zzz toward the outstanding liabilities and year end payments to staff. The partners are never happy .. but the employees and bills must be paid.
He has a very tough job some years ...