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View Poll Results: What generates the most business?
Web appraiser directories 89 10.19%
Your appraisal website 43 4.93%
Yellow Pages 31 3.55%
Word of mouth 573 65.64%
Direct mailings 15 1.72%
"Cold Calling" clients 110 12.60%
Newspaper 6 0.69%
Local real estate catalog 6 0.69%
Voters: 873. You may not vote on this poll

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  #1  
Old 03-16-2005, 12:22 AM
Keith Keith is offline
 
Join Date: Jan 2002
Location: North Carolina
State: North Carolina
Professional Status: Certified Residential Appraiser
Posts: 129
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Since things have slowed down a bit, I have started a website and increased advertising. I think I know what advertising doesn't work now :redface: I was hoping to get some ideas of what works best for you.

I am trying to stay away from AMC's, deadbeat brokers and other vultures.

I was advertising in the local newspaper, but it didn't generate even one lead. I was taken aback. I think it generated 5 hits to my website. I could have went on vacation with that money, and do I need one!
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Old 03-16-2005, 07:45 AM
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Jeff Horton Jeff Horton is offline
 
Join Date: Jan 2002
Location: Heart of Dixie
State: Alabama
Professional Status: Certified Residential Appraiser
Posts: 2,962
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I have to pretty much agree with the poll results. There is no great way to advertise. Two things that work best for me and this will vary greatly in your market, yellow pages has worked well and Internet yellow page listings and appraiser web sites like Waynes.

As for a web site, I find mine very useful once I get a phone call. I steer people to it for additional information. Especially my Home Inspection side.
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  #3  
Old 03-16-2005, 08:22 AM
Tawfik Ahdab's Avatar
Tawfik Ahdab Tawfik Ahdab is offline
 
Join Date: Feb 2003
Location: Central Oregon Coast
State: Oregon
Professional Status: Certified Residential Appraiser
Posts: 1,816
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I have found that my marketing works best by focusing on real estate brokers:

I teach seminars (2 hrs of continuing education) to real estate brokers on such subject as 1-4 family income properties, Qualifying the property for FHA insurance, and Market Conditions. These classes are usually well-attended and establish the appraiser as a local market authority. There are many other topics you could teach that would be USEFUL to realtors. Depending on your market area, once or twice a year gives you good exposure. In a larger market, you might want to hold seminars more often.

Incidentally, I never pay to put these classes on. My classes are sponsored by a local title company. The company does it all. It provides the venue, the snacks and refreshments, the advertising, the continuing education vouchers, and copies of any written class materials. All I have to do is show up.

In addition, I print and distribute real estate market statistics with commentary. No, not just plain old MLS statistics, but analyses of the overall market. I look at permit activity, rates of value appreciation based on resales of the same homes over a relatively short period of time, analyze mean price per square foot of new homes year by year, comment on the adequacy or inadequacy of supply, infer shifts in demand by observing shifts in sales volume by price segment, report shifts in the percentage of terms of sale such as cash, conventional, VA, FHA, and trust deeds, comment on the prevalence or absence of sales concessions depending on the price segment, etc.

The latter is not appraisal. It is market analysis. This is an extension of the appraiser's job, and I consider it crucial not only for me to do my job properly, but also for keeping me in the minds of realtors and bankers in my market area.

By extension, I get recommended for appraisal work by many people, including attorneys and builders.

This I have found is the best marketing: to share your insights into the local market with those who might find this information useful. You provide it for free while teaching them something. They respect you for it.

This is the secret to my success.

Let me add that I didn't mention mortgage brokers anywhere. That's because I do very little work for them (accepting orders only as a result of referralls) and also because they wouldn't care about the data because they're not in the real estate business per se.
  #4  
Old 03-16-2005, 11:58 AM
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DTB DTB is offline
 
Join Date: Jun 2004
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 7,858
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Tawfik,

Since you're targeting brokers where does the business come from. I'm not following the connection. Thanks.
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  #5  
Old 03-16-2005, 12:24 PM
Tawfik Ahdab's Avatar
Tawfik Ahdab Tawfik Ahdab is offline
 
Join Date: Feb 2003
Location: Central Oregon Coast
State: Oregon
Professional Status: Certified Residential Appraiser
Posts: 1,816
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They recommend me for appraisals to lenders I haven't worked with before, like one-shot out-of-town mortgage brokers. These referrals add up fast. This is a very indirect way of marketing to lenders (which I also do directly), but it helps me scoop up appraisal work that would otherwise miss. I like to appraise purchases most since I can and likely will be using them as comps in my small market area.

I hope that helps to establish the connection.
  #6  
Old 03-17-2005, 05:28 PM
bobby jones bobby jones is offline
 
Join Date: Oct 2003
Location: Minnesota
State: Minnesota
Professional Status: Certified Residential Appraiser
Posts: 355
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Tawfik,

Could I please get a copy,(example), of your real estate market statistics with commentary letter. I'm in the process of instructor training at a locale school and the info would help greatly.

Thank you.
  #7  
Old 03-20-2005, 02:41 PM
Ray Miller's Avatar
Ray Miller Ray Miller is offline
 
Join Date: Feb 2002
Location: Southwest Wisconsin
State: Wisconsin
Professional Status: Licensed Appraiser
Posts: 12,000
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Quote:
I have found that my marketing works best by focusing on real estate brokers:
They are pertty much ****ed at me for not reaching the numbers needed in the area or needing me to look the other way on some walk throughs.

To many skippies in the area that will hit the numbers needed.
  #8  
Old 03-20-2005, 04:30 PM
Tawfik Ahdab's Avatar
Tawfik Ahdab Tawfik Ahdab is offline
 
Join Date: Feb 2003
Location: Central Oregon Coast
State: Oregon
Professional Status: Certified Residential Appraiser
Posts: 1,816
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They know not to ask. It's just a matter of training them.

They know I know more than they do, and that I WILL talk to the brokerage owner if they make any improper request.

It actually attesst to the professionalism of the real estate bokers I market that they have only asked a handful of times in my 12-year career.

I've just shot down a deal. The broker knows the vacant site is substantially overpriced. I'm just confirming by how much.
  #9  
Old 08-08-2005, 11:00 AM
Deb Wear Deb Wear is offline
 
Join Date: Apr 2005
Location: Phoenix
State: Arizona
Professional Status: Certified Residential Appraiser
Posts: 10
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Tawfik,

I would like to do what you are doing eventually, with the classes, market analysis, etc. I know I need more experience. I am a few months away from being certified. I have only 2.5 years in the appriasal feild. I know I have lots more to learn and I am constantly taking classes. Any advice, tips, feedback, etc for me? I am all ears!

Thanks!
  #10  
Old 08-08-2005, 12:53 PM
Don Clark's Avatar
Don Clark Don Clark is offline
 
Join Date: Jan 2002
Location: Virginia Beach, Virginia
State: Virginia
Professional Status: Certified Residential Appraiser
Posts: 8,937
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B) I have had my own appraisal business now for 15 years. I never advertise, I do not take people out to lunch, I do not mail out flyers, and I even pulled my yellow page 2"x2" ad this year. I have alwasy received business by word of mout, doing a good job, and being better than others at what I do. I once had a student who moved from Ohio to a small town in North carolina. After the first year in the small town he had over 50% of the business there and close to tyhat amount for the county. Why I asked? He said it was because he was the only appraiser with a computer, able to send appraisals PDF(this was mid 1990's), and the only one with a full set of flood maps, and he did a better job than everyone else.

But hey, that is just my experience and his. You'res may be different.
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