Order Volume

[Joe Flacco]

I am glad that is working for you Joe. If you don't mind however, I'd like to use your post to make a larger point that may be helpful to the younger appraisers out there.

Having only 3-4 clients is a recipe for trouble during lean times. There's lots and lots of talk about "diversification", so I'll add one variant that's not discussed much on here but that younger appraisers should think about. If you are only doing lending work, one way to "diversify" is to develop a system so that you can handle a larger client base (which you build up over the good years and decades).

As an example, right now we have over 70 clients of all types - direct and AMC as well as platform-based work that draws multiple clients like the Mercury Network. Of course, I can't be sure all of them are even still in business right now, but back when were in CA we had even more.

Obviously, at any one time, only a fraction of that number are active in sending us work, but (and this is the BIG "but"), the identity of that fraction CHANGES from year to year. And when its real lean like it is now, getting a few orders here and there from a large stable of established clients can make the difference between being able to pay the bills and having to look for alternative or additional employment.

There's no "quick fix" for lean times, but this is one kind of "insurance policy" youngsters should keep in mind as they develop their practices. And for heaven's sake get yourself some help. "I can't do it alone" may be a joke saying from some old 1980s movie, but its 100% true in this business. Turning it into a family business (one way of getting help) has worked out great for us.

100% disagree.

I find your model of writing up your reports in the car while your son or your wife drives you between appointments to be very unprofessional.

The best advice for younger appraisers is to continually improve their work and do the best they can. Seek out the best clients and do the best you can to meet quality and service expectations.

 

[Alsie35]

100% disagree.

I find your model of writing up your reports in the car while your son or your wife drives you between appointments to be very unprofessional.

The best advice for younger appraisers is to continually improve their work and do the best they can. Seek out the best clients and do the best you can to meet quality and service expectations.

Well that was quite rude. Goodbye. The "Blocked Brigade" was getting lonesome.

 

[gregb]

I have been luckier than most developing a relatively wide client base covering low end manufactured homes in parks, to VA plus wealth management divisions of banks catering to high net worth individuals. For non-lender work several estate planning lawyers hit me with DOD work on a regular basis. Then there are the apartments over 4 units, with work that comes in spurts. Another non-lender sphere comes from local agents, who I visit on their broker open houses held every week. These visits often lead to pre-listing appraisals. Like Joe, no AMC's and rarely refuse to quote a fee to regular clients.

 

[Tim Hicks (Texas)]

100% disagree.

I find your model of writing up your reports in the car while your son or your wife drives you between appointments to be very unprofessional.

The best advice for younger appraisers is to continually improve their work and do the best they can. Seek out the best clients and do the best you can to meet quality and service expectations.

What is unprofessional about this? I don't do it, but I see nothing wrong with this. I think doing appraisal inspections in shorts, t-shirt and flip flops is unprofessional, but in Florida it might be the norm.

 

[chad hampton]

I've been busy this month. I'd say 5 of the last 10 appraisals I've done, the borrowers said that the lender ordered "drive-by's" or "desktops" and the values were embarrassingly low and they demanded new appraisals. And when they told me what they came in at, I would agree. None of these homes should have had desktops or drive bys performed on them. Very limited/dated MLS info.

These large AMCs are really dropping the ball. All in the name of profit I suppose? And some of you continue to defend the system.

 

[Fernando]

I've been busy this month. I'd say 5 of the last 10 appraisals I've done, the borrowers said that the lender ordered "drive-by's" or "desktops" and the values were embarrassingly low and they demanded new appraisals. And when they told me what they came in at, I would agree. None of these homes should have had desktops or drive bys performed on them. Very limited/dated MLS info.

These large AMCs are really dropping the ball. All in the name of profit I suppose? And some of you continue to defend the system.

I noticed that too. Many orders are drivebys and the info on subject is limited. To make matters worse, not many similar comps.
Thus I ask for higher appraisal fee and my requests are decline.
Other appraisers willing to work on these difficult assignments for low fees.

 

[Alsie35]

What is unprofessional about this? I don't do it, but I see nothing wrong with this. I think doing appraisal inspections in shorts, t-shirt and flip flops is unprofessional, but in Florida it might be the norm.

Great minds think alike Tim - I was kicking myself for not thinking to reply to that earlier post along the lines of: "Do your 3 clients know you type up their reports in your underwear?" - then I saw you beat me to it. Good show!

 

[J Grant]

I've been busy this month. I'd say 5 of the last 10 appraisals I've done, the borrowers said that the lender ordered "drive-by's" or "desktops" and the values were embarrassingly low and they demanded new appraisals. And when they told me what they came in at, I would agree. None of these homes should have had desktops or drive bys performed on them. Very limited/dated MLS info.

These large AMCs are really dropping the ball. All in the name of profit I suppose? And some of you continue to defend the system.

If these products become more trouble than they are worth, with borrowers compliant and having to do over, we will see less of them.

 

[J Grant]

What is unprofessional about this? I don't do it, but I see nothing wrong with this. I think doing appraisal inspections in shorts, t-shirt and flip flops is unprofessional, but in Florida it might be the norm.

It is not the norm in FL - I wear short sleeves but normal slacks and shoes - in the old days I used to see more appraisers looking like slobs or like they just came from the beach, but not anymore. Though if somebody does good work, how they dress should not matter - but as a professional, it matters and reflects on our clients to look presentable and not be an embarrassment,

Though one day I was in a hurry and wore one black shoe and one brown shoe. The HO pointed it out and I looked at my feet and - we had a laugh about it

 

[Joe Flacco]

What is unprofessional about this? I don't do it, but I see nothing wrong with this. I think doing appraisal inspections in shorts, t-shirt and flip flops is unprofessional, but in Florida it might be the norm.

Writing reports in the car while being driven from house to house so you can handle volume for 70 clients is a mockery of appraisal development and reporting. It's a joke and it is unprofessional.