Selecting a property insurance appraisal services partner is not like buying a pack of gum. It is not simply a single transaction but rather the start of long-term relationship with your vendor, one in which you will be opening up your buildings to them. Below are a few things we think you should consider before deciding which relationship is best for you.
1. Look Beyond the Sales Team
By the time you’re ready to make your decision, you’ve probably had several conversations with someone from the sales or business development team, but what do you know about the people who will be on the ground doing the work? Ask questions about experience, training and certifications and perhaps even more importantly, accountability. How are projects managed within the company and how is performance measured?
2. Innovation as a Priority
Having great data on your buildings and structures is one thing. Having a great way to manage that data is another. Does the vendor offer an efficient way of managing and reporting on the data collected? Spreadsheets may be okay for some small entities but more property and more data could mean more headaches when it comes to dealing with a spreadsheet. Select a vendor who can provide innovative tools to help you manage your data long after the initial appraisal or reappraisal has been complete. Don’t forget to ask questions about the future of those tools. Is what you see, what you get or are they constantly evolving their solution to stay up-to-date with current trends and customer needs?
3. Reference Checks and Past Experience
Ask your potential vendor for a list of similar projects they’ve completed as well as contact information for possible references. On your reference call, try to speak with someone who was involved with the entire process, from making the initial vendor selection all the way through project completion. What made them select that particular vendor? How was the experience overall? Remember, it’s hard to be perfect. If any issues did arise, how were they resolved? Would they use the same vendor again?
Partnership for the future
We know that selecting a property insurance appraisal services vendor isn’t an easy decision. Hopefully these tips will help make sure that your decision leaves you satisfied with your relationship with your vendor and the results they provide.