Incenter Appraisal Management (IAM) has implemented a new 24-hour fast pay model appraisers can take advantage of, the company announced.  

“Our network of best-of-breed appraisers sets IAM apart as an appraisal management company,” IAM President Mark Walser said in a release. “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 now are receiving direct ACH payment for their services, bucking the national trend of compensating these professionals 15 to 45 days later, the release stated. 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,” Ross Desmerjian, an independent, certified real estate appraiser based in Palos Verdes Peninsula, Calif., said. "I know of a number of appraisers, including myself, who’ve resorted to engaging factors whose fees are around 5 percent 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.”

IAM said the new, 24-hour pay model is the latest in a series of initiatives that demonstrate its commitment to appraisers’ success.

“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,” Walser said.