Appraisal Business: Interview with Jason Covington
Building a Diversified Appraisal Business: Interview with Jason Covington
From Staff Appraiser to Franchise Owner
Jason Covington has built his career in real estate appraisal over more than two decades, with roots that trace back to the mortgage industry. "I started out as a mortgage broker," he said. "Through that process I discovered the appraisal world. I got trained, launched my appraisal career, and leveraged my relationships with mortgage brokers I knew to build my appraisal business."
Mortgage brokers, he explained, "knew everybody. That network opened doors to new business and new people, and that's how I grew my practice as a boots-on-the-ground sole proprietor, one relationship at a time."
After the passage of Dodd-Frank and the rise of AMCs, Covington launched and grew his own appraisal management company before eventually joining Accurate Group as a staff appraiser, where he excelled for several years within a national platform.
Covington recalled that pivotal moment when the staff appraisal department at Assurant, Inc. was suddenly dissolved. "We were told we were all being let go on the same day," he said. "We woke up that morning knowing our jobs were gone." Yet what could have been a setback quickly became an opportunity. "The same managers who had overseen us at Assurant, Inc, were the ones who created Velox Valuations. The day we were fired, they hired us back under a new LLC, but no longer as staff appraisers, we were a firm, an appraisal firm. Some things changed, but we all kept working in our same territories. They gave us a way to keep doing what we were doing, and over the next eight years we built that model across the country, bringing in some of the best appraisers to join the team."
Velox Valuations grew into a national presence, building a reputation for efficiency, and most importantly a direct relationship with lenders, and consistent performance. Covington transitioned into the Velox Val firm and his work during this period helped establish the credibility of the Velox brand, which later became the foundation for its franchise model....
If you’re ready to take control of your future and bring Velox to your market, learn more about franchise opportunities at veloxval.com/franchise.