When the new Home Valuation Code of Conduct (“HVCC”) rules were approved, many appraisers lost the larger part of their income and were forced out of business.  Those that remain have partnered with appraisal management companies (“AMCs”) to ensure continued workflow and income.  In fact, the average appraiser works with a dozen AMCs!  

Why?  Because the average appraiser who works with an AMC tends to earn about $2,000 more each month due to increased business.  Imagine what an above-average appraiser earns!

Yes, AMCs can really boost an appraiser’s business.  But first you need to find a good one.   A poorly-run AMC can hurt more than it helps.  Be sure to stay away from AMCs that want work rushed out or prepared in a non-compliant manner.  Also, avoid AMCs that want a lot of money up front.  Stick with AMCs that are focused on full-compliance with the ever-changing web of rules and regulations they must follow.  

How do you find a good one?  Currently there are around 300 AMCs nationwide, and the number is still growing.  Lists of AMCs are available online – some for free, some for a fee.  Ask other local appraisers for recommendations at industry events, and read online or BBB reviews, where available.  You can join several at a time, so don’t be afraid to test the waters with a number of AMCs to find the best ones.  You can also partner with non-federally-funded banks, accountants, attorneys, and other businesses.  Each of these relationships will help you stay afloat in challenging times.

Most importantly, if you are located in California, join up with Golden State Appraisal Management Company!  Our workflow, software, and support are second to none.

Good luck out there!  

 

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