Help start management co. for the good guy

[TC]

(1) Clients and customers were what I had before hvcc. I have an extensive list of former clients that I can no longer contact as an appraiser. As a management company, I could go to those customers and offer a service to them and the company I used to work for as well as other qualified local appraisers. .

Don't think so. My former clients took their loans to the big banks, and they require them to use their AMCs.

 

[Hamlet]

You must have missed the other thread calling for a national boycott of all AMCs.

 

[Seeking knowledge]

Thanks all.
Tom, Point taken about the venue. Also you are 100% correct about your definition of hvcc. What I should have said is "so that appraisers can oversee the management of other appraisers". In the process they are also overseeing the appraisers. It is sort of interrelated and I can't take it back now. As for making it on a local level I do have an extensive list of former clients who are in the same boat as me as far as the headache of dealing with huge and impersonal AMC's who are not familiar with the area. While I agree with TC that it may take some convincing to get them to ditch their AMC's at this point. I can think of at least a few who would like to. Besides, I don't need to make much to fill the void that hvcc created in my business. If more appraisers followed this kind of flexible business model and if the fed would just clarify what rules I need to follow it would even be fun in a work sort of way.

 

[Mr Rex]

doctor madhadem must be orgasmic at the prospect of a fellow of similar twist.

 

[Seeking knowledge]

Seriously guys, You can't beat them by tomorrow morning and still have a paycheck, you have already joined a hundred of them, what you can do today is be them and take back what is rightfully ours but for a few corrupt appraisers who yielded to lender pressure. I know some states are enacting legislation, but as of today, How hard can it be? BTW This over the top legislation/registration wouldn't be necessary if more local appraisers would have stepped it up little and open their own AMC's before the corrupt AMC's made such a mess. Remember, it is still real estate appraisal work under different business model.

 

[nstanbru]

If the "customers and clients" you're talking about are lenders, that's one thing. If they're brokers, they still couldn't order appraisals from your new AMC. I don't think it's all that difficult to start an AMC based on the myriad that currently exist. I think the major problem is getting lenders to contract with you. Good luck anyhow.

 

[The Warrior Monk]

"Offshore" I hope George reads this and indeed decides to chime in.

Just so you know, it's a joke.

"Pittsburgh Pete" (1) Clients and customers were what I had before hvcc. I have an extensive list of former clients that I can no longer contact as an appraiser. As a management company, I could go to those customers and offer a service to them and the company I used to work for as well as other qualified local appraisers. (2) Those who only wish are missing out on a great opportunity to take back some control in these changing times.

Remember that many of these lenders are going with AMCs that are established and national in scope. A small, local AMC simply cannot compete with them. That's not too say it is right or wrong, that is just a fact.

For the independent appraiser, or those that work for small firms, it is my opinion that a diversified business model must be set up. It takes time to establish, but the end result is no major upheaval if one particular segment of work is affected.

 

[Dale Smalley]

If you can't beat em Join em. Hey if you can get client to pay you $450 and get a appraiser to do them for $275 or less then got for it. Beats driving and filling out forms. I predict the next step will be state wide AMCs. then Regional AMC and finally Local AMCs.

 

[TEL2002]

How to start and AMC.

1. Get a lawyer to establish the business name, etc.

2. Get a lot of computer equipment.

3. Get the software needed to handle all of the reports.

4. Get some clients.

............................

OR

1. Start an informal appraisal group in your area.

2. Meet for lunch/breakfast once or twice a month.

3. Make the purpose of the meetings to be for all of you to improve your businesses & client interactions.

4. Through open discussions, all of the local appraisers become convinced that accepting petty fees is a stupid way to slit their own business throats.

5. One by one, the members of the group tell the AMCs "NO MORE! DEAL WITH US AS PROFESSIONALS, AND PAY US AS PROFESSIONALS."

6. Expand your little group to include the adjacent counties.

7. Enjoy squeezing the necks of the AMCs

 

[Mile High Trout]

True round robin appraisal order distribution model amongst your selection of appropriately qualified appraisers should at least bring in the quality vendor staff. Disproportionate appraisal volume order assignment is one of the primary down turns when dealing with AMC's. Prior to the fee slashing game, AMC's were sometimes great to work with because they distributed work more or less evenly, by way of direct assignment. But as the one poster always says; By choice, not committee. You would be breaking the current model, and moving back to a more sensible model if you had a limited appraiser panel, with round robin distribution.

As for clients, many of the smaller AMC's are "aggressively marketing", it's tough to keep up with that. You have to know somebody who knows somebody. On the up side, if you come correct with a straightforward business plan and are referenced by appraisers, potential clients will notice you more. Many clients seek the advice of their long time appraisers before moving with a management company. A broader selection of potential clients are currently bouncing orders amongst 3 or more AMC's, which is one of the recent changes that has sparked a renewed aggressive marketing campaign by management companies.

The way to get appraisers on your side is to bill your services separately from the appraisal fee.
You're not a good guy if you dip into my fee.