Those in the bank appraisal departments are the smartest people in the room when it comes to real estate. Problem is they don’t have a seat at the C suite table. Chief appraisers, chief credit officers, job managers, reviewers and staff have a lot of untapped capability. Your day is overwhelming just keeping up with ordering and reviewing appraisals. You’re swamped.
“My team is just overwhelmed right now.”
Trends are pointing that the C-Suite is mandating the requirement to have the ability to “see what’s going on” within the financial institution. You can’t fix what you don’t measure. Accurate data, together with meaningful real-time customized reporting, are best practices for your bank.
Regardless of what role you play in your department as chief appraiser, job manager, reviewer, environmental or construction, your workday is defined by processes. The lack of processes is evident when you don’t know the stage of appraisals, reacting to jobs falling through the cracks or frustrating loss of your time manually copy and pasting communication from an old platform.
Elevate your stature in your bank
To participate in the C-suite discussions is the goal. An appraisal workflow platform like YouConnect is the basis for a seat at the table. What can you do to improve your daily pipeline in your appraisal and credit department? Find it difficult to get out of the day-to-day grind? There’s always something that you can do to upgrade the work you’re doing and become a valued team lead or member.
Have the right data at the right time
5 Sample Reports
- Job Manager Assigned vs. Vendor Report Received
- Review vs. Review Due Date = Days in Review
- Reviewer Acceptance/Start to Review Completion Date
- Vendor Original Delivery Date vs. Review Delivery Date
- Report Returned to Vendor & Received from Vendor
Boxed-in with your current platform?
An appraisal and environmental platform is the lifeline of your department. If your appraisal volume spikes, it becomes increasingly challenging to keep track of every appraisal that’s being processed. Therefore, it’s important not only to have an automated appraisal workflow in-place, but also for your platform to be customized to work the way you want to.
Listen to your peers as to the positive business outcome with their own client success stories.
This might help
Stress and overworked reviewers can’t be fixed overnight. But we can help. We created FIVA (Financial Institution Valuation Advisors) to provide an appraisal department best practices for those in bank appraisal departments. It’s a great start to addressing your overworked department. Gain professional insights, guidance and technologies through relevant educational content and networking with peers. Check our upcoming events on FIVA!
Change, “I’m too busy” to, “It’s time to elevate my position in the bank.” See how YouConnect can transform your appraisal department.