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As a recently licensed Residential Appraiser, what is the most effective process for applying to AMCs?
- Thread starter visda04
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Elliott
Elite Member
- Joined
- Apr 23, 2002
- Professional Status
- Certified General Appraiser
- State
- Oregon
Have a pulse.
Kidding aside. Knock on doors. Were I to live in the great state of Texas, I would call some of the local lenders and mortgage brokers and ask which AMCs they are using, then go from there. Three good AMCs are worth being on twenty crappy ones.
Kidding aside. Knock on doors. Were I to live in the great state of Texas, I would call some of the local lenders and mortgage brokers and ask which AMCs they are using, then go from there. Three good AMCs are worth being on twenty crappy ones.
shrubberyvaluation
Elite Member
- Joined
- May 2, 2012
- Professional Status
- Appraiser Trainee
- State
- Maryland
Just do it, probably better during busy times, or at least follow up during busy times if you want/need more work.
TMG
Senior Member
- Joined
- Jul 28, 2007
- Professional Status
- Certified Residential Appraiser
- State
- California
Most state bureau of appraiser websites have lists of licensed AMCs. Then go to all of their websites and click thru to "join our panel" or "vendor application" its pretty straight forward. You'll need pdfs of your license and E&O.
99.9 % will accept you, whether or not you ever get orders is another thing. I'm on about 50 panels, and get work from about 5. But with other direct lender clients, that's enough.
Good luck!
Jay P Bartholomew
Freshman Member
- Joined
- Dec 28, 2005
- Professional Status
- Certified Residential Appraiser
- State
- Wisconsin
Have you started acquiring all the names and contact info for AMC's? If so, start at A and go to Z contacting them. Have your resume, W9, 3 sample reports (redacted) and some references ready to send. Don't pay for AMC lists. AMC's are a great way to get going at first. I like the input from visda04 said:. Straight up commentary. Chin up and stay true to the data. You'll be fine.
Fresh Start
Sophomore Member
- Joined
- Jun 30, 2018
- Professional Status
- Retired Appraiser
- State
- California
As a newly licensed, I can tell you a few things that have change as of early 2000's.
A lot of lenders will not take your work unless you show them that you produce quality appraisals. Most lenders now want Certified level unfortunately, at least from the get go, they are given an easier time. Do not get discouraged if you don't hear from the AMC's, it takes just a few good appraisals for them to approve your quality of work and then you should be ok. If you are getting a lot of correction requests, double and triple check your work for accuracy and completeness. If you're picking accurate comparables and your quality of work is good, you will be ok. It may take bit of time but you will be ok.
A lot of lenders will not take your work unless you show them that you produce quality appraisals. Most lenders now want Certified level unfortunately, at least from the get go, they are given an easier time. Do not get discouraged if you don't hear from the AMC's, it takes just a few good appraisals for them to approve your quality of work and then you should be ok. If you are getting a lot of correction requests, double and triple check your work for accuracy and completeness. If you're picking accurate comparables and your quality of work is good, you will be ok. It may take bit of time but you will be ok.
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