24 Oct The role of Appraisal Management Companies: Separating myth from fact

The role of AMCs: Separating myth from fact

Oct 2018  publication: Valuation Review

publication descriptionThe role of AMCs: Separating myth from fact
Many believe that a better relationship between the appraiser and the
appraisal management company (AMC) would be a major step in
strengthening the appraisal industry. But such a desired goal continues
to be a work in progress with many appraisers set in their ways when it
comes to their views of what the AMC ought to be doing for them
professionally.
Two industry veterans from Arivs, a national AMC, are doing their best
to educate appraisers on the facts surrounding the role of the AMC,
and what goes into the process pertaining to lenders selecting these
companies.
CEO Bryan Caffrey and National Sales Director Chris Roberts have been
working in the AMC appraisal space for quite some time, and have seen
and heard the myths that pertain to what goes into AMCs’ selection.
“Most banks are concerned with the usual starting point to the
conversation regarding the AMC selection process by asking how many
appraisers you have on your panel,” Caffrey told Valuation Review.
“The other question is what the price is. We don’t find that method as
to what they are asking very helpful, and we see that as not being very
effective.
“The smaller my panel and the more work I get from that panel, the
better the service we can provide,” Caffrey added. “That’s contrary to
what most banks think. They don’t realize the number of jobs
appraisers are doing.”

“There is another aspect to consider when working with a smaller panel
of appraisers in that the loyalty from the appraiser is high,” Roberts
added. “When orders come in at the last minute, we can handle them
easily because we work closely with the appraisers.”

….To find out more of what the executives said please visit website with the link below:
https://www.valuationreview.com/VR/ValuationReview.aspx