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Old 01-13-2005, 03:55 PM
doug martin doug martin is offline
Join Date: Oct 2004
Location: Georgia

Posts: 13

once approved?
Once a company says, your "approved" and on the list, how long does it take for them to place the first order, on average? In terms of number of orders, what constitutes a Good client, Average client, and Poor client? I ask because I have been having good luck selling our services to MBs, LOs, and Bank managers who claim they will use my company, have put me on approved list, and should have business for me quickly. It's been 2-3 weeks and not a word from anyone. New orders=no income for me; I'm slightly concerned.

BTW: Hello all, long time reader/first time poster.
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Old 01-13-2005, 03:58 PM
Tim Hicks (Texas)'s Avatar
Tim Hicks (Texas) Tim Hicks (Texas) is offline
Join Date: Jan 2002
Location: Crowley
State: Texas
Professional Status: Certified Residential Appraiser
Posts: 11,949

There are never any guarantees. I would bet I am on over a 100 lists that I get no work from. The good thing is that I have a larger list of companies I will not work for anymore. Good...I guess.
Please don't log on here and ask for our blessings unless you are prepared to accept the truth.
Old 01-13-2005, 04:07 PM
Michael Miller Michael Miller is offline
Join Date: Dec 2004
Location: Plano, TX

Posts: 16

Another first time poster (me) -- Couldnt you call them and see if they have any work for you?
Old 01-13-2005, 04:10 PM
CANative's Avatar
CANative CANative is online now
Join Date: Jun 2003
Location: Ukiah, CA
State: California
Professional Status: Certified Residential Appraiser
Posts: 47,240

It's somehow very appropriate that daffy (aka drlaura) responded immediately to a post which ended with "long time reader/first time poster."

Doug... to get regular work you have to be on scores if not hundreds of lists.
You have been removed from this discussion.
Old 01-13-2005, 04:13 PM
Will43's Avatar
Will43 Will43 is offline
Join Date: Aug 2003
Location: Central Ohio
State: Ohio
Professional Status: Licensed Appraiser
Posts: 1,782

I am on several approval lists and have never received an order.

You donít know how many appraisers are ahead of you or how much business they have in your area.

Good Luck!
Old 01-13-2005, 04:40 PM
Chris Colston's Avatar
Chris Colston Chris Colston is offline
Join Date: Jul 2003
Location: East Central Florida, Space Coast
State: Florida
Professional Status: Certified Residential Appraiser
Posts: 5,442

Good client = any client that pays my full fee within 5 days of receiving the report, doesn't put an estimated value on the order and accepts the final value opinion without question

Average client = COD, or pays full fee within 30 days of receiving the report, might put an estimated value on the order but accepts the final value opinion no matter what it is.

Poor Client = ALWAYS COD, puts an estimated value on the order and B*tches at you when the value doesn't come close.

Don't be discouraged, it takes awhile before the MB and LO's remember you are there. Keep knocking on doors. Or you might try the Management Companies. The fees are lower, but it can help keep the lights and phone on while you wait for the full fee work.
Old 01-13-2005, 04:42 PM
Oregon Doug Oregon Doug is offline
Join Date: Jan 2002
Location: Westcentral Oregon
State: Oregon
Professional Status: General Public
Posts: 1,963

Doug - Sounds like you are just starting out. My advise is to diversify your client base as much as you can. Develop clients for estate/trust work, divorce appraisals, Employee Relocation and REO appraisals for the banks & others. The mortgage lending appraisal business is very fickle and much of it remains on the "good ole boy/girl" concept. It's very competitive and "price sensitive" too.

Best of luck

Oregon Doug
Life's short, play dirty.
Old 01-13-2005, 04:44 PM
doug martin doug martin is offline
Join Date: Oct 2004
Location: Georgia

Posts: 13

I guess I was too general. Specifically, I contacted (3) clients including a senior director of a MC, a senior V.P. of a very small local bank, and a CEO of a new loan processing company- all of whom I either know personally(but not that well), or who have agreed to meet with me as a result of an important contact of theirs that I'm good friends with. These have not been cold calls, of which I have been pounding the pavement for three weeks. I can tell from the cold call clients that MOST say sure, I'll get you on the list have a nice day . These others seem to have been REAL and have actually said, "Great, I'll use you for my next appraisal!" I guess I gotta go push them huh? Maybe I'll go in and point to the homeless kids across the street and say, "Hey, you see that over there, those are my kids....WHERE'S THE WORK!!!!"
Anyway, I appreciate the advice so far: I am learning the definition of Client and the difference it has to being on an approved list. Keep the suggestions coming, it's getting really tight around here.
Old 01-13-2005, 05:39 PM
Heath Boyles Heath Boyles is offline
Join Date: Mar 2003
Location: Oklahoma City
State: Oklahoma
Professional Status: Certified Residential Appraiser
Posts: 61

Just be persistent. Your ahead of the game if you know the person your calling on for business, friend/foe/or neighbor. I think it's a popularity contest to be honest. So many clients we depend on for work don't really care if our appraisals are credible or fraudulent. Yeah I said it!

Since you already have your foot in the door your half way there. We're not all sales people, so selling ourselfs and consistently calling on clients is tough for allot of us (me anyway).

So untill you estabish yourself as valuable asset to for their needs, you may want to consider diggin in your pockets. I dropped off dozens of krispy kreme doughnuts to prospects before I got business from them. Once I saw an order or two I dropped off a gift certificate to chili's to say thanks for trying me out. Client gifts are not bribes, they are present in allot of busines marketing plans. One prospect I was working on I dropped about 6 dozen boxes of Krispy Kreme's, a few lunches my first years. That is my best client now and I enjoy every year at Thanksgiving I cater their favorite food and we eat together.

6 dozen Krispy Kreme's $21.00
5 lunch gift certificates $50.00
1 catered Thanksgiving Lunch $150.00

+$300.00 (one appraisal)

Your up $79.00 for the year.
Old 01-13-2005, 05:43 PM
Proactive's Avatar
Proactive Proactive is online now
Join Date: Jan 2002
State: Washington
Professional Status: Certified Residential Appraiser
Posts: 1,185

Doug, all it takes is three phone calls.

I know a fellow who was brand spankiní new in the business that made it a goal to call at least three lenders every Friday afternoon and ask for their next appraisal assignment. Sometimes they were cold calls, sometimes follow-up calls. He did this unwaveringly and slowly but surely built up an enviable practice.

That was fifteen years ago and he's still going strong...

Be professional, yet persistent, and it will pay off. Good luck!

P.S. Tomorrow's Friday.
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