Appraisal Management and the Trust Factor

At Nationwide Appraisal Network, we feel an extreme sense of duty when it  comes to our Lender/Clients and Appraiser Vendors. We work hard every day to make the best decisions in order to benefit both sides while remaining fair and compliant. Years of experience in this industry has taught us best practices and rules of thumb, but the most valuable lesson we have taken away from our experience is growing our relationships with our clients and vendors by really knowing which decisions fit their business models and needs best.

Obviously you don’t learn a client’s values and corporate culture overnight. This happens over time. Encouraging open communication and feedback enables you to customize your processes and develop relationships that will empower you with knowledge and experience to make those decisions that will benefit your clients best and solidify your relationship with them, which in turn will strengthen the trust and bond you have as a service provider.

Often times as an appraisal management company, we are in a situation where we have to make critical decisions about appraisal assignment, due dates, quality control requirements, reporting disputes, appraiser qualifications, and many other issues that can come up in our day to day business. In order for us to make the best possible decisions, it is imperative that we not only understand compliance and regulatory guidelines, but also the priority of our client’s and appraiser’s day to day business and practices.

We are happy to say that we are in a position where we are often told to “do what you think is best” from our clients. Or, “what is your suggestion for me to move forward” from our Appraisers. That is a tell tale sign that we are in a position of trust. We consider this a huge accomplishment as an Appraisal Management Company as the past few years have not been the greatest years for AMC reputations in our industry. We work hard every day to dispel the myths about Appraisal Management Companies like AMC’s send work to the lowest bidder and in return get low quality work, and AMC’s are just the middlemen who do nothing but take money from appraisers. You name it, we’ve heard it.

I think our reputation among our clients and appraisers speaks for itself. Trust, communication, and realistic expectations set us apart from our competition. What do you do to earn trust in your daily business? Are you listening to what your people are saying? Working hard to maintain relationships will further strengthen your people and your business and keep you thriving.