Searching for Appraisers and Appraisal Services Online
by Administrator on Oct 7, 2016
Do banks search for appraisers online? It’s a reasonable question to ask. Banks generally form appraisal relationship within their local communities where they do most of their business or like many they work through an appraisal management company (AMC), but some search online when they have a customer who wants to buy a home and secure a mortgage for it in another state. Sometimes an appraisal is needed for a purchase and other times an appraisal is need for a home improvement loan, but either way banks feel comfortable finding their own out-of-area appraisers and many do search online.
Banks are not the only parties who seek appraisers and appraisal services online. Attorneys often use their computers to do online searches for appraisers. The Internet offers attorneys a way to find an appraiser who is established and has experience in the specific area where they are wanting to hire someone. If it’s Henderson, Nevada, for example, you can read a great deal about an appraiser, his appraisal education, years of experience, past clients and find someone who is likely to provide you with a quality report.
Accountants in smaller firms often take responsibility for their affiliations and they seek out appraisers who are specialists in a specific area. It’s not rocket science to understand that you are better off hiring an appraiser who lives and works in the City of Henderson, Nevada and not an appraiser who lives and works in Las Vegas, Nevada to do work in Henderson. All things being equal would you rather hire an appraiser who lives and works within an area or one outside of an area. Who do you think knows the area better?
Individuals who can choose their own appraiser, and are not stuck with the assignment made by a bank via an AMC, often shop around for themselves online. I have been amazed at the level of detail that individuals have had about me and my firm when they called after reading one of my websites. Most parties are just interested in the basics. Potential online clients want to know if I complete residential appraisal work (I do), or they want to know if I complete commercial assignments (I do), and of course they want me to provide them with an assignment fee and a turnaround time estimate.
Some online searchers / researchers even figure out that I have several Internet websites including www.appraisalarticles.com, www.valuationarticles.com, www.lasvegasappraiser.com, www.appraisenevada.com and www.horizonvillageappraiser.com. It’s not that important but there are many more Internet-savvy individuals out there than many appraisers realize.
Where do parties complete their online searches? Of course Google.com, Yahoo.com and Bing.com are prominent in the search world but some banks, attorneys and others like to search on Yelp.com, LinkedIn.com and third-party appraisal sites.
Some parties seeking appraisal services are surprised when they find out that the bank or AMC charged them $ 650 for an appraisal when they purchased their home, and we quote them or bid $ 300 for the same work when they refinance and don’t go through the bank. In the appraisal business that we have today there are too many layers of middle-men and fees are often inflated.
It works the same way for commercial assignment fees. If the bank controls who is selected, often from a short list of “qualified” appraisers that they have established, and it may cost you hundreds or even thousands of dollars more to get an appraisal completed using one of their selected few. You may get a $ 4,500 fee through the bank appraiser and find that a competitive firm with the same qualifications offers the report for $ 2,400. I often tell people who call and are shocked by the fee they have been quoted, “maybe it’s time to shop for a new bank!”
Some appraisers pay to control keyword searches so that if someone searches for the words “Appraisal” and “Henderson” the searching party will see their business information in the results that are delivered. It’s a pay-per-click service that is offered by the larger search firms.
For more appraisal information contact Glenn J. Rigdon MA, MRICS, ASA is a Las Vegas / Henderson Nevada based appraiser who can be contacted via email or via his business website known as Appraiser Las Vegas (http://www.appraiserlasvegas.com), or you can also click on “Contact Us” on the home page of this website or visit my public profile at LinkedIn at http://www.linkedin.com/pub/glenn-rigdon-ma-mrics-asa/1a/30b/879/
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