Lender Resource Series: Triserv’s Philosophy on Working with Appraisers

“We are different. We don’t work like other AMCs.” This may very well be something you might hear from our competitors, but at Triserv, we really are different. We do not operate like other AMCs in a number of important ways. Today, we’ll cover Triserv’s philosophy on working with appraisers, which directly impacts the quality and timeliness of appraisal reports for our clients.

The process of assigning inspections to individual appraisers is different for Triserv as compared to other AMCs. We do not broadcast orders to all of an entire region’s appraisers in hopes of getting the “lowest bid around.” Our proprietary software provides our staff with a wealth of information about the panel so we can assign the appropriate appraiser. We can see the appraiser’s distance from their address to the Subject property via geocoding. At a glance, we can see the number of active orders in their pipeline, their average turn times, and standard fees. Along with this information, our teams have the ability to add notes to the appraiser’s profile, including who’s looking for more work, who has quick turn times, who has been late with files, and their overall standing with Triserv. All of our staff have the options to go in and notate different aspects of every appraiser’s performance, good or bad, so when files are assigned, we know what we are getting.

One thing important to appraisers is getting paid fairly for their time. Triserv pays our appraisers twice a month, regardless of whether or not we have collected the payment for that order from our client. This was a philosophy we set forth from the very beginning - pay the appraisers quickly. Even before requirements were put in place for appraiser payment by the state boards, we were ahead of the game. Triserv has always maintained enough cash flow that we ensure our appraisers are paid, our staff is paid, and there is never a worry as to whether or not payments will clear. Indeed, we continue to improve upon this - one of our goals for the 2022-2023 year is to have our entire appraiser panel on weekly direct deposit payments.

Finally, Triserv is different in regards to the ease of using our website and the lack of technology fees. What do appraisers hate more than not getting paid? Getting paid and then having to turn around and lose a portion of their fee back to the many AMCs that charge a technology fee. Having staff that was in the field regularly, we wanted to change appraisers’ perceptions of how an AMC could work. We own our software, and we have set it up to be user-friendly on all sides. We ensure that when appraisers are paid, they’re not penalized for doing their job and uploading a report. Some AMCs and sites charge up to $15 for an appraiser to upload a report that the AMC ordered. When appraisers have to pay that across all the AMCs that they work with, it can become a costly monthly expense. One that they avoid entirely with Triserv.

Appraisers love to work with us, since we pay them quickly and fairly, and we don’t take back part of their fees for our technology. Because appraisers appreciate us, they prioritize our orders, meaning lenders doing business with Triserv often enjoy faster turn times. And because we can hand-pick the best appraiser for each order, that’s another assurance that every appraisal will be high quality and on time. As our President says, “The proof is in the performance.” We are here to prove it every day!

To stay up-to-date with Triserv’s articles, news, and Personality Profiles, fill out the form below. Thank you!

We're Changing!

Learn More