What are the benefits of creating an Appraisal Management Company?

[justin7777]

Hello,

What are the benefits of creating an Appraisal Management Company?

Can we receive more appraisal contracts from major lenders?

If there are any advantages, please let me know.

Have a nice weekend.

Thank you.

 

[Terrel L. Shields]

You will instantly have a fan club of 60,000 people who hate your guts...if that's any help

 

[Mejappz]

And there will be a couple of people on the forum who will adore you and believe you can do no wrong.

 

[glenn walker]

If I was serious I'm not but I would get a job inside a large AMC not doing appraisals but a $15 per hour sitting in a cubicle and observe everything that's being done. Order desks..tech review desk and interact with appraisers. Next determine lease cost of office..utilities and cost of employees . Remember your operating a management company not out doing appraisals. Finally you have to determine how your going to sign up customers like mortgage bankers...credit unions...banks. you need a full time sales team that wines and dines lenders telling them what you have better to offer them. Now you need to find out what they pay Big Balz AMC and the two others they employ. Can you beat their price ? Can your appraisers do faster turn times..do you have a 24/7 platform that operated 7 days a week ? OKAY after 6 months minimum at a large AMC you will probably realize that if you have a Million in cash...want to start from ground up and work 15 hour days...manage employees and a payroll and probably not turn a profit for the first 12 to 24 months then by all means do it. But if you have the Capital to do it why would you want to invest in a business model that's not growing but declining in and fees that are not keeping up with inflation.

 

[George Hatch]

And there will be a couple of people on the forum who will adore you and believe you can do no wrong.

There is nobody in this business who is more bitter about being beat out at their own game than the scumbag sweatshop operators who flooded their own market to begin with via exploiting the poor desperate trainees.

 

[J Grant]

It costs a lot of $ to make an AMC that can compete at a reasonable level, which is why few appraisers attempt it.

 

[Bob Ipock]

The number of AMCs has dropped like a rock over the past year. Check the ASC daily report, seldom will a day go by without some AMC non-renewals. Many have consolidated with other AMCs.
Large lenders want a large national or regional coverage. Plenty of better ways to invest or make a living than trying to go up against large, experienced AMCs.

 

[chad hampton]

They’ve morphed into something much different than what they were intended. They are in survival mode now. A little surprised the hedge fund behind class hasn’t cut bait.

 

[John Hassler]

There is nobody in this business who is more bitter about being beat out at their own game than the scumbag sweatshop operators who flooded their own market to begin with via exploiting the poor desperate trainees.

I don’t think those people are bitter, they just became AMCs or found another industry to ply their malfeasance.

No, the ones most bitter are those that spent thousands per year creating a brand, grew their business by genuinely training staff, had actual QC protocols, and delivered a quality product to the public.

In short, those working to improve the image of appraisers. Instead we got AMCs that pushed the image into the basement.

 

[Dublin ohio]

Instead we got AMCs that pushed the image into the basement.

They didn't do that all by themselves