It’s How a Company Handles Its Shortfalls..

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  • It’s How a Company Handles Its Shortfalls..

    Most blogs cover topics beneficial to the writer. For the most part, blogs offer puffery or even self-boasting in regards to the industry. I would like to do something different. I want to talk about some of our shortfalls, as a company and an industry as a whole.

    The Appraisal Management Company, more particularly, at our Appraisal Management Company, we wear many different hats. We are status reporters, message conveyors, quality controllers, revision requesters, managers, marketers, sales people, vendor coordinators, appraisers, attorneys, etc. As you can see, we are a lot of different things. I could probably fill this entire page by defining the different capacities we act in on a daily basis.

    Any company that has these types of moving parts is going to have some shortfalls. I can promise you, if someone tells you otherwise, their shortfalls must include truthfulness! I would be lying if I sat here and typed out the words, “We are a perfect company.” I think any company in any industry would be boldly lying if they tried to pass that statement off as truth. It would be even scarier if the company making that statement actually believed it to be the truth themselves.

    For example, we admit that one of our shortfalls is promptness in answering phone calls. We have an ultimate goal to have all phone calls answered after the first ring, which has not always been the case in the past. We constantly talk about the logistics and structuring best suited to accomplish this, and we feel we are definitely on the path to correcting this particular shortfall.

    Another example of a shortfall we are working on is a controversial issue: the issue of appraisers feeling like they are being “babysat.” I need to preface by saying that this is a tricky issue to deal with. We do not request updates just for fun. We request updates because the clients are requesting updates from us. For the appraisers who proactively update us, this is not typically an issue; however, there are still other ways we can work on resolving this issue. One thing we are doing to work on this issue is creating a new Preferred Plus Panel, which will allow certain appraisers on that panel more leeway when updating us and delivering their reports.

    We hear it all the time about individuals, “Nobody is perfect.” I think that old adage proves to be true in the corporate world as well. Companies are not perfect and never will be. There are too many moving parts for something not to go wrong occasionally.

    The sooner a company comes to the realization that they have shortfalls, the sooner they can begin implementing processes to overcome those flaws. If we sold ourselves on the false pretense of being perfect, we would never be able to strive to be a better company and the company we are today.

    “It’s How Class Handles Its Shortfalls that Makes the Difference.”

    John Hamameh –  In-House Counsel / Chief Compliance Attorney

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