“Boy, if I knew then what I know now”… We’ve all said it at one time or another. And whether it was that person you never asked out or the stock tip you never took, hindsight never stops being 20/20. For many people in the real estate business, the past decade has been full of “what if’s”.
As we gradually built up to the crescendo of 2007, many people got in on the ground floor…experiencing great success and then even greater defeat during the recession of 2008 and beyond.
Today, we are experiencing a housing market rebound in virtually every sector and many of the same pros and cons are returning. Property valuation remains the heart of all real estate activities- everyone uses real estate in one-way, or another.
For those who have weathered the storms and are enjoying success, three questions need to be answered when it comes to growth:
- How fast is too fast?
- How much is too much?
- How do I maintain this growth without overwhelming the business ecosystem and putting my company in long-term risk?
At Nationwide Appraisal Network, we can’t definitively answer the first two questions for you (after all, no one knows your business better than you do). But we can help with #3!
We lead the industry in appraisal management through new technology, minimized risk, outstanding customer service, quality of work and by delivering results. Our primary focus is to build and maintain strong partnerships based on the fundamental aspects of real estate valuation.
Our team’s collective knowledge, experience and proven performance has successfully guided lenders through various markets- so we know how to help you handle all of your appraisal needs in times of growth. And yes, we’ve seen companies grow too fast and lose their grip on the very qualities that help them succeed in the first place: outstanding customer service, expertise in compliance, consistency in reporting, quality control, technology updates, etc.
NAN provides a practical understanding of appraisals and real estate values that enable lenders, banks, credit unions and many others to carry out their functions in a useful and dependable manner in serving the consumer and meeting their obligations to the general public.
In an economic upturn, it’s imperative that your company’s growth does not outpace its resources. This may sound strange at first, but once you are unable to meet your client’s needs, all the increased business can end up being a detriment in the long term.
So if business is good, congratulations! Approach these good times with some basic fundamentals:
- Create a model for management that can grow at the same pace as your sales. Among other things, this means making sure the right people are in the right position and each member of your team understands their role.
- Maintain Quality! You’ve gotten where you are because you’re doing things right. Staying up to date on all the new compliance rules, integrating the latest technology, communicating with your customers…when the workload increases, it’s imperative that you don’t let quality decrease.
- Stay Consistent. Your customers have come to expect certain things in a certain way. Improvement is always good, but consistency and a comfort level is even better.
- Keep on top of things. When things are going well, it’s easy to concentrate on good fortune and let the little things slip through the cracks. But successful managers need to keep their eye on the inner workings of the company, especially on both sides of the balance sheet. Make sure that efficiencies are maintained, not only with customer service, but in your expenses as well.
NAN is here for all of your needs. We’d love you to call us and see how a partnership can result in efficiencies that will pay off in the short and long term. Our team offers a unique understanding of appraisals and real estate values that enable lenders, banks and credit unions to effectively serve their clients, even in periods of sustained growth. Let’s talk about growing your business together!
About Nationwide Appraisal Network- NAN is an industry leader in appraisal management, providing a unique approach to appraisal management through customization, innovation, and quality. Visit us at www.nationwide-appraisal.com or call 888.760.8899