AMCs and the Appraisal Process
There is an interesting article on www.appraiserblogs.com today regarding the influence Appraisal Management Companies (AMCs) have on the appraisal process. AMCs control the setting of fees and payment schedules. They determine which appraisers are chosen for which assignments. Some even go as far as to determine what is included the reports.
There are a lot of good AMCs around, and many appraisal companies would not exist without the work provided by these firms. But it may be time for the process to be changed, with actual market participants having a stronger role in the appraisal process.
http://appraisersblogs.com/amc-control-influencing-appraisers (courtesy of John Pratt).
Real Estate agents need to understand the important role AMCS have on their transactions. Contact me if have questions about this or any appraisal-related issues.