LRES Announces Results of Internal Vendor Partner Survey
Illustrates strong working relationships with appraisers
ORANGE COUNTY, Calif. —
LRES, a national provider of commercial and residential valuations and asset management for the mortgage, banking, credit union and real estate industries, announced the successful completion of an internal survey of its appraiser panel to measure the temperature of the company’s relationship with its panel and to determine its appraisers’ most pressing concerns. By assessing comments among its appraiser network, LRES was able to evaluate its vendor partners’ overall experience working with LRES.
The results indicated that a majority of appraisers (68 percent) believe that LRES either always or usually gives ample time to complete assignments; 85 percent believe that they either always or usually receive timely answers to questions from LRES; 63 percent believe they always or usually have a strong working relationship with LRES; 69 percent always or usually believe that LRES’ fee structure is understandable; 61 percent always or usually feel that LRES regularly communicates with them about industry updates; 87 percent always or usually believe LRES engagement letter is clear and concise as to expectations and requirements, 79 percent always or usually feel the LRES order system is easy to navigate; and 68 percent always or usually would recommend LRES to colleagues.
The survey was disseminated to more than 6,000 appraisers on the LRES panel and resulted in a strong response rate of almost 11 percent. Four possible answers to survey questions included never, occasionally, usually and always. Each question included a space for comments related to that particular question so respondents could qualify responses. Several hundred comments were submitted.
“The positive survey results indicate LRES’ efforts to enhance its vendor relationships have been successful and position the company for continued growth by providing the incentives, support and comprehensive outreach appraisers seek in a business partner,” said Roger Beane, CEO of LRES. “We pride ourselves on our strong working relationship with our partners, and we have identified some areas of improvement to make that strong relationship even stronger.”
Orange County, Calif.-based LRES is a national commercial and residential financial services provider offering property valuations, asset management and technology solutions for clients. With more than 11 years of continued growth, LRES offers complete and customized solutions and managed business processes for the origination and default markets. For more information about LRES, visit its website at www.lres.com.