ServiceLink

[bnmappraisal]

@CANative that's because you were dealing with more rural properties (from your prior posts)

The Link definitely expects quicker turn times for more urban/suburban locales. I know because I know people sending the emails and/or calling appraisers to "update the system" and "when is this coming in?!" and they just saw it within the past 1-2 days.

 

[Have Laser-Will Travel]

So you're not happy working as a staff appraiser and you're thinking of going alone and the AMC is Servicelink?
Working as a staff, you have steady work but you work under their rules.
If you work for yourself, you run your own business which is different from what you're use to.

I know that's true because I was on my own for 16 years. You mentioned all the other AMCs. The scheduling app I use requires me to offer two appt. times within the next 3 days in order to receive assignments. Is that now common with AMCs?

 

[bnmappraisal]

The scheduling app I use requires me to offer two appt. times within the next 3 days in order to receive assignments. Is that now common with AMCs?

It's not common with any of the ones I deal with, but I don't work with any of the large(r) ones either (i.e. Servicelink, Core Logic, etc)
All the ones I deal with leave it up to me to set the appt and simply update the system/portal accordingly. No fuss

 

[Have Laser-Will Travel]

It's not common with any of the ones I deal with, but I don't work with any of the large(r) ones either (i.e. Servicelink, Core Logic, etc)
All the ones I deal with leave it up to me to set the appt and simply update the system/portal accordingly. No fuss

So cool! Any tips on finding the good ones? Do you think it's hard to get a work flow going with one?

 

[gregb]

Focus on direct clients, such as credit unions and local or state banks that order directly, without an AMC.

 

[bnmappraisal]

Easier said than done, though @gregb

Personally speaking, yes, it took time (years) to cultivate the book of clients I have.
Some has been just meeting the right person at the right time, that passes your name on as a referral
Others have been 1 off assignments that the client was happy with the work and continued sending more

There's no "easy way" to finding any good client(s)
And as far as this question, in my opinion, there's 2 answers...

Do you think it's hard to get a work flow going with one?

1) No - it's not "really" hard - some clients (especially AMCs) may offer some kind of "guaranteed" work flow, but usually it comes with (literally!) a cost - I had a "volume guarantee" with ACT appraisal AMC back 5+ yrs ago which offered a "guaranteed" 15 assignments per month, but at a fee of $250 per assignment.
When you do the math, that's a $40k+/yr client, but I also started realizing I was pretty much "giving away/free" every X number of assignments due to the decreased fee
It was "nice" in the fact that the orders were pretty consistent, but ... once I started realizing the "guarantee" wasn't really working in my favor, I started looking toward other/better paying clients

2) Yes - it is hard and takes time/work/networking/being personable .... referrals are a big part of it. Some of my current best clients have come from referrals. Be professional at every inspection. You never know who may refer you to your next client (lender or non-lender)

Good luck

 

[Have Laser-Will Travel]

If you dislike the scheduling app ( which I would hate ) and the low fees and iron fist of AMC model whether staff or fee panel, maybe think about a different career - because while it is busy now and might be busy the next coming months or year, as soon as it slows down and the covid related time consuming stall of fannie and freddie ends ( their moderniaztion is on pause/though testing ) a soon as it ends and they roll out the new ( barring a change of administration/other intervention) the direction of agencies is that of embracing the AMC type model of control of appraiser, speed, pressure for lower fees . And that will affect even appraisers who have non AMC clients. the 1004P/similar is green lighted for third party inspections the fees will go down and turn times accelerate.

The agency's mission of "modernization" includes a mission to "Save" consumers money/cut valuation costs which means stripping appraisers of fees ( because they will not impose it on the lender to pay the AMC fee ), as well as promoting appraisal waivers ( no appraisal ordered for certain loans ), and the next generation of forms not done on our own software but over the web /web based format.

I am hoping future is better then what the signs point to , but we all should be mindful of pending changes which have been on pause- paused due to onslaught of busy combined with covid protocols, once that winds down - ( see above ). A decision to stay and roll with the changes or leave might depend on alternatives are wrt to age, skills and education- the appraisers who thrive on the new normal are doing it now, cranking them out, slapping in data and signing, cold blooded "efficiency" - less of a profession but rather a production machine -

Focus on direct clients, such as credit unions and local or state banks that order directly, without an AMC.

That sounds pretty awesome! Does it just sometimes take a phone call or visit or, is does it take a lot of persistence, networking, etc?

 

[Chandler]

Focus on direct clients, such as credit unions and local or state banks that order directly, without an AMC.

Yep, as I've said before put in the work marketing to real clients. Signing up to AMC's is the easy way out and you will be treated accordingly with more hassle for less pay. The AMC route can put food in the table while marketing, which might take 6 months or more before you can put it on cruise control.

 

[Fernando]

Many years ago I had my favorite lender. Now it's a cheapskate who hasn't increased fees in over 10 years.
Then I had a pain in rear client who had reviewers who drove me crazy. I couldn't figure what appraisers would work for them and I didn't take much assignments from them.
Things have changed. Must have alienated a lot of appraisers and now that client is my best paying AMC and their STIPs are less frustrating. Maybe I'm the only few who's willing to work with them.

 

[J Grant]

That sounds pretty awesome! Does it just sometimes take a phone call or visit or, is does it take a lot of persistence, networking, etc?

Here;s the truth - everybody says they want good clients/direct clients, but what do they have to offer to attract these clients? If you are just another appraiser with an average avg skill it is often not enough - same with /low fee as calling card - (unless more low fee clients ss the goal ) What better clients are looking for is reliability and problem solvers - deliver in timely manner but also able to do reports that are solid and can stand up to UW and review. Most want a versatile appraiser, approved with FHA and perhaps VA, able to do a variety of different assignments and different kinds of properties - and clients with niche business or who specialize look for appraisers who can do that kind of work.

So upgrade your skills and education - I never went for the SRA but I understand the course work and networking opportunities can be worthwhile. Regional appraisal managers. loan managers, reviewers and UW do talk to each other and can move around and they will recommend an appraiser whose work they noticed is solid and delivers in a timely manner or comes through on the tough ones.