What Is Offered By Appraisal Management Companies And How To Choose?

Appraisers have had to adjust to new laws in the last year or so

, adapting to new working and financial environments. Many are left looking for answers in previously unexplored areas. Appraisers that have attended or participated in forums and discussion groups will find that the opinions held by other appraisers for appraisal management companies can differ greatly. All of it can get quite confusing, especially for the appraiser that is new to his or her position. Traditionally, appraisal management companies, in general, have held negative reputations due to their previous business practices. Many appraisers will not use an appraisal management company, due to the negative reports they have heard or experienced firsthand. However, there are other appraisers that truly enjoy working with appraisal management companies.

For those appraisers that are looking for an appraisal company they can work with, there are some guidelines to determine what they will pay. When deciding on a pay scale, appraisal management companies will look at the number of appraisers they have on their "approved list". If it is a larger company, employing thousands of appraisers, the appraisal company will not pay much more than about $250 per appraisal. This stems from them knowing if one appraisal does not take a job another one will, for the expected fee.

Another factor in deciding the fee for appraisers, is geography. A larger area, such as the larger cities, will have more competition. Appraisal management companies do not have to pay more to get appraisals done since there are so many appraisers that are available for work. In smaller areas, appraisal management companies are required to pay minimum fees, set by the local appraisers. Appraisal management companies will pay these minimum fees since there is less competition and jobs that need to be done.

Another deciding factor is the bid system. The bid system works by accepting the bidders who place their bids the quickest, at the lowest rates. When bids are accepted in this fashion, it makes it extremely hard for appraisers to get a competitive rate.

Appraisal management companies will also take into consideration the type of appraisals an appraiser can form. Appraisal management companies will look at the level of license held and the type of appraisal issues, from simple to complex that an appraiser is qualified to handle. In such cases, appraisal management companies will often contact the appraiser personally. This is done to find out of the appraiser will take the job, or the appraiser is asked to bid for the job.

Finally, many appraisal companies will pay appraisers more for doing rush jobs, with the higher paying jobs being the ones that need to be completed within a 24 hour window.

With this information, it is possible to utilize the strengths of different geographic locations and the other factors to make a decent income for the appraiser with a family, or trying to maintain a certain lifestyle.

by: Ann Williams

POST COMMENT

Who Controls The Appraisal Management Companies? Why Should People Use Appraisal Management Companies? Tips for Effective Conference Management How To Evaluate Quality Management Systems Nutrition Management in Assisted Living China Enterprise Management Innovation Way Mold Omega Lettings: Property Lettings and Management Service Distance Learning in Retail Management – Relish a Fulfilling Career Debt Management Advice – Tips For Alleviating Debt Responsibly Debt Management Advice – The Most Effective Way For Reducing Your Debt Burden Debt Management Solution – The Best Way To Live a Debt Free Life Project Portfolio Management – Projects Must Effectively Use the Firm's Resources Personal Debt Management – Tips For Getting Debt Relief