The benefits of working with top appraisal management companies (AMCs) are myriad: better turn times, more accurate reports, mitigated collateral risk, clearer communication, quality service and more. But there are hundreds of organizations to choose from. How can you determine which ones are the best?
Needless to say, we know quite a bit about the top appraisal management companies. Here is a list of qualities you should look for in every AMC.
5 Traits of Top Appraisal Management Companies
- Top appraisal management companies offer best-in-class turn times.
For the top appraisal management companies, efficiency is essential. Our nationwide average turn time is five days or less. We also don’t shy away from geographic areas where turn times have ballooned to weeks or even months. Our strategy? We partner with the most competent real estate appraisers and ensure they are paid as quickly as possible. In return, they prioritize our orders. Appraisals for remote area homes that would normally take 3-4 weeks are completed by our team in a matter of days. Want to quickly check the status of your appraisal? Check out our online Fast Track tool. This is how we offer our clients best-in-class turn times, so they can rely on us for bulletproof reports and close loans faster.
- Top appraisal management companies provide nationwide coverage.
Finding reliable appraisers for every state, county and street in the country can be tedious, which is why only a small percentage of the top appraisal management companies do. Class Valuation is proud to take this on for our lender partners. We’re registered or exempt in all 50 states, and our chief compliance officer ensures that we stay on top of all legislation and regulations for appraisers, appraisals, and appraisal management. We know that mitigating collateral risk is imperative for our clients. Navigating through the new era of appraisals is no easy task, so we draw upon the collective knowledge of our industry veterans to ensure a safe and compliant process.
- Top appraisal management companies operate with outstanding service.
Clients tell us that other AMCs treat them as just another paycheck, which is how we know that only the top appraisal management companies prioritize quality service. Class Valuation prioritizes every order, every time. We utilize proactive communication. Our team updates clients at every step of the process so they never have to ask about the status of an order. Need to give our office a call? We guarantee the phone will be answered within the first few rings. Our clients are our partners, and we treat them as such.
- Top appraisal management companies have excellent reviews.
A key component of identifying top appraisal management companies is to look at their reviews. What do clients say about working with them? Since appraisal management is a relatively new industry, there aren’t a lot of comprehensive review websites for AMCs. You can, however, look on an individual company’s website to find customer reviews. Here are a few reviews we have listed on our own website:
- “Out of all the other appraisal management companies, Class Valuation by far has the fastest turn times and best service.”
- “Class Valuation consistently responds to our needs and, most importantly, the needs of our clients.”
- “Many HVCC companies are very slow and hold up your closing for weeks making you have to extend your locks and lose money. I have honestly never had to do that with Class Valuation.”
These give you a very good sense of our client experience. Another resource for company is Glassdoor. Although these are reviews from employees, they can still tell you a great deal about how an AMC operates.
- Top appraisal management companies only work with the best appraisers.
Partnering with reputable and reliable appraisers allows top appraisal management companies to ensure quality reports. Our staff is comprised of current and former appraisers, who act as a resource center for our panel of dedicated contractors in all 50 states. We audit that panel regularly to maintain its integrity. Appraisers like working with us because we pay them quickly and consistently, as well as treat them as extensions of ourselves. It’s the Class Valuation way.
Of course, this isn’t a definitive list. There are plenty of other important qualities of the top appraisal management companies, and we’d be happy to help you find the right one. Give us a call at (866) 333-8311 or send an email to info@classvaluation.com to speak with a member of our team.
– Brianna Valleskey
