Incenter Appraisal Management (IAM) Launches 24-Hour Fast Pay for Appraisers
February 11, 2021
CHARLOTTE, N.C. – To move closer to its goal of building the nation’s top appraiser network, Incenter Appraisal Management (IAM) has implemented a new 24-hour fast pay model, the most rapid in the industry.
“Our network of best-of-breed appraisers sets IAM apart as an appraisal management company,” said Mark Walser, President. “Paying our appraisers ASAP gives them one more compelling reason to put IAM and our lenders’ orders to the head of the line.”
Within one day of completing a valuation report, IAM appraisers are now receiving direct ACH payment for their services, bucking the national trend of compensating these professionals 15 to 45 days later. Many appraisers are performing so many valuations per week that ensuring payment has become time-intensive and challenging. Incenter’s new initiative mitigates this issue on behalf of appraisers throughout the country.
“Appraisers are so busy right now that we’re struggling to keep up with managing and chasing payments,” stated Ross Desmerjian, an independent, certified real estate appraiser based in Palos Verdes Peninsula, California. “I know of a number of appraisers, including myself, who’ve resorted to engaging factors whose fees are around 5% of invoice. IAM’s 24-hour pay model solves this huge challenge. Plus, it’s just smart business. By paying appraisers fast, they encourage us to make their orders a priority.”
The new, 24-hour pay model is the latest in a series of initiatives that demonstrate IAM’s commitment to appraisers’ success. These include empowering them through proactive communications, technology tools, and process improvements. For example, IAM never puts appraisals out for a pricing bid; never charges appraisers for a “technology” or report upload fee; and provides all the information necessary to deliver high quality reports the first time.
“Appraisers have done an amazing job under the duress of COVID-19 and incredible levels of volume. AMCs ask so much of appraisers all the time, and this is one more way we can show our appreciation and give them peace of mind,” said Mr. Walser.