Recently, Class Appraisal has turned to out-of-the-box thinking and creative solutions (including advancements in technology) to get work done in a marketplace where appraiser presence is decreasing. But even with the modernization of their processes, the company remains old school in its operations he said. “Whether we do 500 or 50,000 appraisals a month, we will always be the same company. If [our clients] have a problem or request, we want to address it right away. We are always looking for great partners. We try to slightly overstaff by design and hire the best people for all our clients.”
To help bridge the talent gap, Class Appraisal is centering their attention on attracting more young talent into the mortgage business. “There are some initiatives that we are trying to get involved with and do what we can to help to bring in more fresh talent into the industry,” commented Tallinger.
However, their focus is not just on new talent. Class Appraisal works to grow existing talent by offering the opportunity for limited licensed appraisers to work side-by-side with some of the company’s best appraisers in the field. To help them produce more while allowing them the opportunity to become fully licensed and certified themselves. Additionally, the company boasts a 24-hour quick pay cycle –just one more thing that differentiates them from other AMCs. “When I appraised years back, I was used to getting paid once every 15 days and maybe once a month. Most of our appraisers now, about 65%, are on our 24-hour quick pay. Once we send that completed appraisal off to the lender or client, that appraiser will get a direct payment within 24-hours,” he said. “It is one more thing that helps put us ahead of our competition when the appraisers are prioritizing their orders.”
It is clear that the Class Appraisal-way of doing business leads to success. The company will soon relocate its central office to a larger location and they plan to increase staff by 40% within the next 90. Notwithstanding the market obstacles, Class Appraisal has experienced double the business this year alone as the company makes preparations for continued growth in the coming future.
“HUD appraisal rules clarification good news for realtors”
“Shortage of real estate appraisers is hurting the housing market”
As part of the 1% of AMCs that offer nationwide coverage, Class Appraisal is aimed at combating the growing appraiser shortage in the market by increasing staff and more importantly, attracting fresh blood into the industry to help service growing markets said Jon Tallinger, vice president of sales and marketing. “We are focused on being the best at what we do.”