Ask any parent and they’ll tell you that from birth until about age sixteen, managing growth is pretty much a full time job. Just when you’ve got everybody’s wardrobe covered, they wake up an inch taller than when they went to sleep. Needs change on pretty much a daily basis. Expenses are virtually endless, from diapers to braces, sports equipment to prom dresses. And then of course, there’s the unwinnable battle of keeping up with the newest trends. But growing pains aren’t just a part of child rearing. They’re a huge factor in a successful business. At Nationwide Appraisal Network (NAN), we’ve become rather good at managing growth. After all, it’s been pretty constant since our inception in 2004. The way we see it, there are 6 main factors in managing growth the right way:
- Bring in Key Executives: When Joni Pilgrim and Cari Burris founded NAN, they knew it would never get off the ground unless they had the right management team in place. That was the first order of business and the reason that we were able to consistently take on new business in stride.
- Hiring and Training: we’re passionate about continuing education, training, and development. Our team members are groomed to be resources for clients and appraisers alike. They’re empowered to make decisions and act in the best interest of everyone that does business with us.
- Managing Changing Regulations: it’s been said that there’s nothing new under the sun, but in this business, new regulations pop up all the time. Conformity to national and state standards is vital to our success. We’re licensed, registered and ready in all 38 of the states that have oversight policies in place. And because of points #1 and #2 above, we’re confident that whatever happens with future regulations, we’ll be ready.
- Managing Software: yes, ours is ultimately a people-driven business, but technology has come to play a vital role, and NAN utilizes technology to its fullest potential. Our Uniform Collateral Data Portal® (UCDP®) submits appraisal data files to Freddie Mac and Fannie Mae. It facilitates the electronic collection of appraisal report data, while our electronic delivery system is a secure method for sending borrowers their completed appraisal reports. Our plans for unveiling new software before the end of the year are in effort to streamline the appraisal management process for AMCs and Lenders alike. We are really excited about the release.
- Hiring Remote Positions: when you’re a national company like NAN, sometimes you need key people in different regions of the United States, who are familiar with the nuances of those areas. One huge key to growth is hiring the right people in the right places to better serve our vendors and clients.
At NAN, we’ve gotten where we are by doing the little things right. Staying up to date on all the new compliance rules, integrating the latest technology, communicating with customers, and remaining consistent. Improvement is always good, but consistency is even better. And when you’re consistently the best, good things happen. If you’re a lender or appraisal firm, we’d love you to call us and see how a partnership with NAN can result in efficiencies that will pay off in the short and long term.
Nationwide Appraisal Network is an industry leader in appraisal management, providing a unique approach to valuations through customization, innovation, and quality. Visit us at www.nationwide-appraisal.com or call 888-760-8899