The Michigan Association of REALTORS® (MIR) announced last week that the organization purchased an appraisal management company (AMC). The state association acquired Midwest AMG, which will serve as a wholly owned, for-profit subsidiary. According to MIR, “[t]his means in addition to industry “best practices,” those doing appraisals will be held to the higher standards dictated by REALTOR membership. It is through this melding of standards that Midwest AMG and the Michigan Association of REALTORS® intend to create the “Gold Standard” for appraisal services.“ Read the full release here.
Thanks to Appraisal Scoop for the tip.