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What are broadcast AMC’s?

As a practicing appraiser you are aware that currently most appraisals business is generated by banks which use AMC’s to order appraisal reports. No matter how you feel about AMC’s, over 80% of all residential business controlled by Appraisal Management Companies. Theoretically there are hundreds of AMC companies in USA, but in reality between 50-75 control most of the work flow. Some AMC’s send orders to appraiser directly, after appraiser registers and provided his credentials. Other AMC’s use broadcast system to send out orders. The way that broadcast system operates is AMC will have 10-20 appraisers that work in the same area receive notification that an appraisals is available. The person that accepts the appraisal first gets an order. Putting aside whether the system is fair or not that’s how broadcast AMC’s distribute orders.

Our software will work for you 24/7 to immediately accept order. If latter on you feel that order is unacceptable or fee is not supported by complexity, appraiser always has the right to cancel an order (with us and with AMC) or request appropriate fee for complexity from AMC.

What are broadcast AMC’s?

Unless you are living under a rock, you are aware that AMC’s control most of appraisal business in United States. You need to follow certain steps in order to stay busy:

  1. Log into your AMC profiles to make sure there aren't any alerts on your accounts.   Many AMCs do not notify you when your documents expire or if a new agreement is needed to update your profile. They may have orders in your area and your profile is marked inactive.

  2. Keep in mind that some AMC’s will deactivate your account if you do not log in at least once every 2 weeks.

  3. Log into your profiles and update any information that may have changed: new login and password, license expired, background check, etc. Contact them directly and see if there is anything they need from you to receive work.

  4. Make sure your coverage areas are up to date.

  5. Once your accounts are all up to date, AMCs will put you back into their rotation to receive orders and will catch them for you.

How do Amc’s assign orders?

Here at catchappraisals , we are very familiar how important to maintain healthy AMC account. Most AMC’s these days, do not use people to assign orders. Orders assigned by computers based on a monthly score. AMC computers generate score based on multiple factors such as: quality of the report, turn around time, appraiser’s fee and updates. AMC computers generate final score based on which their system assign orders.

So always keep in mind that late submissions or conditions will cause the score to go down and you will end up with loosing orders. It is very important to schedule report on time, updating AMC’s sites with the most recent information and return conditions as soon as humanly possible.


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