Turn Time

Turn time measures the elapsed time between an assignment being ordered and the completed valuation product being delivered. It is a key performance metric for appraisal management companies and their lender clients.

Several stages can contribute to total turn time. The order must be assigned to an available appraiser, the appraiser must contact the point of contact and schedule access, the property must be observed when required and the analysis, report preparation and quality review must be completed before delivery.

Market conditions, property complexity, geography and access challenges can affect the timeline. Rural assignments may take longer when fewer appraisers cover the area or comparable research is more difficult. Because turn time can affect a borrower's closing schedule, lenders often measure it against service level agreements and use it to evaluate valuation-provider performance.