If you are looking for more appraisal work, the best place to look is at the appraisal management services that are available through AMC’s. With constantly changing rules and regulations, they offer the best opportunity to help generate more income and keep you from having to abandon you career. There are less appraisers getting into the business than ever before and with so many current appraisers going out of business, it is leaving a large gap for current appraisers to step into.
Appraisal management services have become the IT Consultancy Essex bread and butter for almost all independent appraisers. Without using them, appraisers around the nation have discovered the difficulty of even staying in business without their services. Fortunately, they are becoming friendlier to appraisers and their needs.
With the changes the HVCC imposed in the middle of 2009, along with FHA basically following in their footsteps, close to 90% of all appraisals are ordered through appraisal management services, or AMC’s. Many of these companies have been around over 10 years and have established themselves within the lending community. Unfortunately, many appraisers refused to work with them due to the high commission rates they required and their demands of quick turn times.
Since the change to new HVCC regulations, hundreds of new appraisal management services have popped up and have been more “user friendly” to the appraiser. With fair commission splits and more generous turn times, they have forced the older companies to follow suit. This has created a great incentive for appraisers to join the growing number of AMC’s.
In the economic downturn, thousands of appraisers have been forced to close their doors due to lack of work. Some may have tried to get some work from appraisal management services and quit when they had unsatisfactory results.
The needs of each company changes due to two main factors. This is a huge reason why an AMC may bring in lots of work for one appraiser and no work for another.
Change in coverage area
Each AMC covers a certain area, whether a given city or nationwide. These coverage areas change based on need. Large changes occur when they obtain new clients which require an expanded coverage area or when a company loses a client and the coverage area shrinks
Change in appraisers in a given area
In this changing market, with so many appraisers going out of business, the appraisal management services needs are constantly changing. Even if you live in the middle of a large city there are still many openings in dozens of AMC’s. If you need to generate more business, the best advice is to sign up to as many appraisal management services companies as possible. It is worth the time and effort.