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Building a Diversified Appraisal Business: Interview With Jason Covington
by Isaac Peck, Publisher
In 2015, after years of managing and growing an appraisal management company (AMC), Jason Covington made the deliberate choice to return to the field as a working appraiser. That move may have seemed counterintuitive to some, but it reflected his desire to stay directly connected to the profession and to the evolving needs of clients in the Nashville market.
“I wanted to get back to the boots-on-the-ground kind of work,” he explained. “There’s something about being in the field, meeting people, and seeing properties firsthand that keeps you sharp and grounded.”
It was a fateful decision. Covington would go on to build Velox Valuations Nashville into a practice that balances lender assignments with a growing non- lender clientele. Covington’s expansive client portfolio now includes banks, AMCs, attorneys and other private clients, giving him a broad perspective on both conventional and unconventional valuation needs across the industry.
Covington has been able to capitalize on his diverse work experience, from construction to mortgage lending and of course appraisal. He brings a practical understanding of how properties are built, financed, and ultimately valued. His leadership extends beyond his own practice: Covington has trained and mentored appraisers, presented at national conferences, and served on the Tennessee Real Estate Appraisal Commission. Some people call that being a “thought leader,” but Jason Covington might just call it showing up for work.
Today, Covington is the owner of Velox Valuations Nashville—part of a unique franchise model that hasn’t been seen before in the appraisal space. With 27 years in the industry and 21 years of appraisal experience, Covington brings a rare blend of entrepreneurial drive and technical expertise. Remaining boots-on-the-ground has been essential for him, allowing a balance between business leadership and the discipline of fieldwork, making sure that his practice reflects both professional rigor and the human side of valuation.
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.
After several years, Covington was offered something unprecedented in the profession: an appraisal franchise opportunity. “It was the first of its kind,” he explained. “The model was strong, the vision was clear, and it gave us advantages we never had as independents. A lot of us are great appraisers, but not necessarily great businesspeople. Running a shop takes more than just doing appraisals. It takes systems, tools, and business savvy. The franchise gave me the ability to do it again, but this time with support and leverage, without reinventing the wheel,” he explained.
And so, in early 2025, Covington purchased the Nashville territory (the greater Nashville area is big: it includes Davidson, Cheatham, Dickson, Maury, Montgomery, Rutherford, and Wilson counties). In doing so, he maintained access to Velox’s technology platforms and back end support. “I don’t think I’d be where I am now without that backend support (backbone),” he said.
The “backbone” involved several layers of support that sole proprietor appraisers have to build on their own. Covington was able to focus on the business at hand, and he certainly did. “In just 10 months I hired three employees, strategically placed east, west, and south of the city,” he recalled. “The tools showed me missed opportunities and helped me know when and where to grow. And when it came time to hire, the franchise support team handled requisitions, phone calls, and vetting candidates. That freed me to focus on appraisals and revenue.” The back-end support does not stop there. “I have support for every aspect of my business, from QuickBooks to payroll and more…”
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The Velox Model
Franchising changed everything. “Velox wants me to succeed, and the tools they provide make sure I know what to do and when to do it,” Covington explained.
The franchise model gave Covington new tools and support, but its strength also rested on the reputation Velox had already built with lenders and AMCs. “Part of the advantage of being a Velox appraiser came from the relationships we had built with AMCs and lenders over time,” he said. The Velox model helped them maintain preferred status with many of the largest lenders, as well as smaller ones. “That meant we often got the first crack at assignments and in some cases, lenders even allowed us to auto-accept orders directly into our queue,” he explained. That reputation with lenders opened doors, but it also put the pressure on, placing Covington in a position where performance and accountability became the true measure of success. “When an order comes in, I have to decide whether to accept it, confirm the fee, and commit to the turn time. My scorecard was based entirely on my actions, or lack thereof. If I wanted to perform at a high level, it was up to me to deliver on that promise.”
And Covington delivers. He described his approach to building success in appraisal work as simple but disciplined. “I try to have a [workflow] system set up so that anytime someone calls, anytime someone needs something, I want to be able to say yes,” he said. “I don’t care how complex it is, I want to say yes. The more times I can say yes, the more I win. I pick up my phone, I turn my work in on time, I write copious notes when providing updates, etc. I already have an A+ grade card just because of the Velox brand. It’s up to me to maintain it. The appraisers I hire aren’t new to the business. They’ve been doing it for 20 years. That says a lot about what we are, what we do, and the order volume we handle.”
Covington believes success in appraisal work rests on consistency and attention to detail. He described how small, everyday habits separate the top performers from the rest. “Between me and you, it’s really easy to be a 20 percenter,” he said, referring to the small group of appraisers who secure most of the work. “A lot of appraisers don’t pick up the phone when it rings, don’t update the client in a timely manner, don’t call to schedule as soon as they get the order. Treating customers the way you want to be treated is the difference.”
That approach positions him for high value assignments. “I win deals just because I pick up the phone,” he said. “Yes, I can do that. It’s $2,000. I do a lot of high-end work at $8 million or $16 million properties that not a lot of appraisers want to touch. I treat those clients right, and it’s the same people ordering again and again. I’m already on top of the list, so why wouldn’t they give me the opportunity first?”
Covington emphasized that the Velox brand amplified his own reputation. “Not only did I have my name working for me, but the Velox name carried weight,” he said. Lenders recognized both, and that combination kept orders flowing his way.
“They knew I would perform well and provide timely updates,” Covington explained. “In this business, trying to be the best, that model spring-boarded me to the front of the line.” The credibility of the brand gave him a competitive edge, while the franchise structure ensured he wasn’t working alone. “If I needed support, I could lean on the Velox team,” he added.
Opportunities for Non-Lender Clients
Covington has made non-lender clients a growing part of his business, and he sees that work as both a challenge and an opportunity. “It has to be ongoing, myriad, and continued process,” he said, explaining that you need “different strategies and protocols for first and second touches, marketing materials, flyers, introductions, lunches,” and so on.
For Covington, the process begins with identifying niches. Attorneys, real estate agents, and tax appeal work all represent potential avenues, but each requires a tailored approach. He pointed out that resources and examples from other appraisers can help guide those choices, but ultimately each practitioner has to decide where to focus. At present, about 30 percent of Covington’s workload comes from non-lender assignments and he has set a personal goal of raising that to 50 percent. “Is there a shift after 50 percent?” he asked. “That’s something I want to find out. I’ve been working at this for a long time, slowly chipping away at it.”
Examples of this approach are straightforward and reflect a time-proven method of making contact, inquiring about needs, and then being able to meet them. “If I go into an attorney’s office and say I have the expertise to solve your problem, I can help you, and I perform well, they are going to tell their attorney friends,” he said. The same applies to real estate agents, who continue to call him for professional measurements despite the availability of digital tools. “Treat them right, treat them fair, do it on time,” he said. Pre-listing appraisal orders work the same way: consistent performance builds trust, and trust leads to repeat business.
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Reshaping the Appraisal World
“I believe to the core of my soul that I have the best job in the world,” Covington said. “If I want to concentrate on growing and building my business and providing opportunities to my current and future employees at the highest level, that’s what I’m going to do and this franchise model provides the opportunity and road map to achieve that goal.”
Through his leadership in Velox Valuations Nashville and his role in the franchise model, Covington has shown how appraisers can move beyond the traditional image of disconnected sole proprietors. By creating opportunities for employees, expanding non-lender work, and strengthening national networks, he is helping redefine what it means to be an appraiser today. His perspective underscores the profession’s potential to grow stronger, more collaborative, and more resilient.
Covington spoke candidly about the potential of the Velox franchise model to reshape the appraisal profession. “I really believed this franchise opportunity has the chance to change the appraisal landscape as we know it,” he said. “For too long, appraisers had been disconnected sole proprietors, working alone in their own offices. That can be good and bad, but it meant we weren’t an adhesive group. The more appraisers who got on board with this model, the more brand recognition there was, and the more the best of the best could shine and grow.”
Covington described his own ambitions in Nashville. “Somebody asked me when I first started, February 1, if I was building a little empire in Nashville,” he recalled. “I had just hired my third appraiser in 10 months, and I thought to myself, why not. Why couldn’t I? Why couldn’t I be the main source of appraisals in the Nashville market? Where’s the bar?”
For Covington, the franchise model was not just about efficiency or technology, but about creating a stronger, more resilient profession. “At the end of the day, this is something that can help our profession,” he said. “It gives us a way to grow together, to hire the best of the best, and to build something recognizable across the country. We value America; that’s what we do.”
About the Author
Isaac Peck is the Publisher of Working RE magazine and the President of OREP Insurance, a leading provider of E&O insurance for real estate professionals. OREP serves over 10,000 appraisers with comprehensive E&O coverage, competitive rates, and 14 hours of CE at no charge for OREP Members (CE not approved in IL and AK). Visit OREP.org to learn more. Reach Isaac at isaac@orep.org or (888) 347-5273. CA License #4116465.
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