The Importance of Relationships in Appraisal Management
Successful relationships are the cornerstone of accomplishment… that holds true for life, and for the appraisal management company, as well!
It goes without saying that successful relationships – whether business to business or business to customer – are the cornerstone of any aspect of business management and maintenance. Day to day business and company goals are more streamlined when everyone is in communication and on the same page, after all. Success within the appraisal management process depends on a solid relationship between the appraiser him or herself, the appraisal management company, and the bank or credit union.
At Oxford, we strive to ensure our relationships with appraisers and financial institutions are second to none in the appraisal management realm. In our line of work, there are several key reasons why good, strong relationships are so vital. Here’s how we see it:
Mutual respect lends to smooth project progression
Our firm works with both lenders and regulators to offer unmatched third-party appraisal management expertise to financial institutions. Oxford’s highly-skilled and experienced appraisers, nearly all of whom hold the MAI designation, perform every technical review with the utmost respect and professionalism.
At the end of the day, our entire teams all work together on a given project to achieve a common goal. Respectful interactions empower each step of the entire process to move toward completion, eliminating hiccups and expressing a true desire to succeed as a team.
We keep our clients in the know every step of the way, too. As we monitor the process, clients receive automated email updates and constant communication notifying them of progress. When completed, we review and certify the appraisal for 100 percent compliance and success.
Communication is key
We’ve said it before and we’ll say it again! When any of our appraisers (who often work at a certain degree of independence), financial partners, or other clients reach out to us at Oxford, they are always answered with a friendly, human voice on the other end.
Constant and clear communication is essential to the success of the real estate appraisal management process. Important questions, comments, and concerns always receive immediate attention and resolutions.
As part of the normal process, all documents relevant to a client’s case are available online for five years, and the client has access to everything through unique login credentials. We operate from a high-availability secure system architecture that is fully customizable for the access and security levels our clients require. Nothing is left on the back burner and clients always have control over the information they wish to receive. Effective communication plays a huge role in the maintenance of our successful relationships on all levels.
Honesty is the best policy
With Oxford as your trusted appraisal management company, you gain access to extremely detailed reviews of the appraisals conducted.
Our highly trained team reviews each appraisal report for errors, checks that all criteria are satisfied, verifies compliance within regulatory requirements, and ensures necessary standards are met – not only at the end of the line, but throughout the entire development as well.
Although we rarely (is ever!) run into discrepancies, we choose not beat around the bush. That’s because we believe that honesty is truly the best policy and that our clients deserve a full picture. Your appraisals will always come back to you in greater detail so your loan officers can make fully educated decisions.
Successful relationships result in better work
When everyone works together efficiently, the job gets done faster and more efficiently. At Oxford, our financial institution partners are aware of the fact that we review every last detail and manage the entire job to ensure a flawless result time and time again. Furthermore, Oxford stands by YOU every step of the way to ensure your appraisal process is as simple and convenient as possible.
We hide nothing… including fees
We don’t sneak up on you with any hidden, unexpected fees. Generally speaking, our fee is typically passed on to the customer along with the appraisal cost. Still, you have the option to add ancillary services to be covered by your lending institution if you so wish
In the appraisal management world as well as in life itself, building relationships allows for better teamwork and improvement in how companies do business. In our case, it streamlines how we and our partners do business.
The Oxford team prides itself on working with banks and credit unions across the country, developing special connections with each client as we help them to refine processes, obtain detailed and accurate results. The firm has worked with both lenders and regulators to offer unmatched third-party appraisal management expertise to financial institutions. We pledge to always be available to assist where needed, working hard to ensure excellent service as we continue to build an effective and successful relationship together.
From the beginning, Oxford has been committed to three core principles – expertise, service, and independence– and these same principles continue to guide the firm and its strong, successful relationships. Get in touch with the experts at Oxford today and prepare for a truly lasting and mutually beneficial relationship.