Swifter Turn Times for Happier Clients
Slow appraisal turn times getting you down? Or more importantly, jeopardizing your client relationships? Tired of the hassles of trying to get your appraisals turned around in the time you need them?
Keep on your referring partner “best lender” lists by getting your loans through the funnel faster.
Faster Appraisals, Post-HVCC
We all know the HVCC slowed down turn times dramatically by forcing the bulk of real estate appraisals to be run through AMCs.
You have two main options for addressing your appraisal turn time problems:
- Find a new AMC, test their responsiveness, repeat as necessary, lose clients in the process.
- Sign up for a much more aggressive, much more efficient appraisal vendor management solution and get your turn times back where they should be: a few days to a week, max.
Doesn’t the latter option sound more appealing?
Get Control of Your Appraisal Turn Times
The appraisal profession is in a contract state of evolution, just like most industries. Just when technological improvements give appraisers more efficient tools so they can produce high-quality but faster appraisals, new requirements add more line-items to the appraiser’s “to do” list, which slows things back down.
Now, complicate this by adding a middleman layer (aka, an AMC) and you have too many steps in the chain to effect the kind of faster turn times you know your clients need.
At Appraisal IQ, we have recognized this as a serious problem and have taken specific, active steps to address the issue of turn times.
To get your appraisals back faster:
- We aggressively adopt new tools and technology, and refine our appraisal pipeline practices. We have an in-house old school and new school project management professional who doesn’t let bumps in the road become highway hazards. Combining best practices without arbitrarily adding layers of busy work keeps the office humming.
- We log appraisal orders in as soon as they arrive, coding them with our internal numbers as well as associating them with any and all on-line tools and applications we use. This ensures your appraisal is immediately in our pipeline for processing.
- We call and set up the appointment without delay. If the appraisal inspection is scheduled for more than 2 days out, it is because the homeowner wasn’t able to accommodate the appointment sooner. We reassure them that their home doesn’t need to be spit-polish clean for our visit, which helps them relax and makes the process go more smoothly.
- We measure homes with a Disto D5 laser measuring device and draw our home sketches on-site on a web-enabled iPad,essential elements of our Appraisal Tools for Property Appraisals, which saves time back at the office because the sketch is already completed and verified as accurate at the property.
- When we write a report, we avoid unnecessary interruptions. Your report is our primary priority so we can deliver it on, or ahead of your schedule.
- We go above and beyond to incorporate the data and details you need to keep from kicking a report back with questions or updates. Whenever possible, we spot trends early on for underwriting requirements and add them to our work flow pro-actively, before they are required or mandated.
Faster Appraisal Management
One of the most effective applications we use is the Mercury Network, a free on-line appraisal management platform from a la mode. While AMCs add $100 or more to the appraisal fee to cover their “services” (and pay the appraisers less as well), the Mercury Network adds $0. Yes, ZERO, and provides an incredibly sophisticated level of tools and technology to manage your appraisal orders. We pay the minor per-report processing fee and we don’t pass it on to our clients in the form of jacked-up rates or fees.
Nothing to Lose, Everything to Gain
If you’re like most mortgage professionals, you know the stress of trying to meet your clients’ deadlines. Make faster turn times part of what you’re known for, and let faster appraisal deliveries boost your reputation in your referral network of professionals who send their clients to you for loans.
Sign up for the Mercury Network and add Appraisal IQ (Orlando Masis) to your appraisal roster and see the difference our service can make to your service.
