Advice on how to build client base

[NC Values]

After 4 long years a trainee, I finally accumulated enough appraisal experience to obtain my North Carolina certified residential appraiser’s license, just in time for the real estate market to reach record lows in lending activity. Residential sales and refinancing in the local Research Triangle area of North Carolina are down approx 30-35% from 1 year ago. I have not received any appraisal assignments from our Office in the past 2 months

But I have seen little to no effort being made by our office to find new customers. I myself am willing to conduct a marketing activity to identify and meet with local lenders or mortgage brokers, offer a description of our appraisal services and see if the lender would be willing to give us a chance with some of their appraisal needs. I have also contemplated creating a website for the company as a marketing tool. The managing appraiser for our 3 man office is in agreement and will pay me a higher fee split for any new clients I bring in.

I welcome all constructive advice on ways to build and enlarge our client base. For the most part our business has relied on just a few 2 or 3 local clients (Suntrust Bank, Country Wide and a random scattering of out of sate brokers or AMCs.

Please share you experience and suggestions with me.

 

[Joyce Potts]

I just watched a biography of Heidi Fleiss this past week. She moved to Nevada and is opening a legitimate stud farm. It was interesting.

 

[NC Values]

Is Heidi hiring? I am not sure my wife would approve me becoming a stud muffin.

How about some more legitimate tips?

 

[Mike Phillips]

After 4 long years a trainee, I finally accumulated enough appraisal experience to obtain my North Carolina certified residential appraiser’s license, just in time for the real estate market to reach record lows in lending activity. Residential sales and refinancing in the local Research Triangle area of North Carolina are down approx 30-35% from 1 year ago. I have not received any appraisal assignments from our Office in the past 2 months

But I have seen little to no effort being made by our office to find new customers. I myself am willing to conduct a marketing activity to identify and meet with local lenders or mortgage brokers, offer a description of our appraisal services and see if the lender would be willing to give us a chance with some of their appraisal needs. I have also contemplated creating a website for the company as a marketing tool. The managing appraiser for our 3 man office is in agreement and will pay me a higher fee split for any new clients I bring in.

I welcome all constructive advice on ways to build and enlarge our client base. For the most part our business has relied on just a few 2 or 3 local clients (Suntrust Bank, Country Wide and a random scattering of out of sate brokers or AMCs.

Please share you experience and suggestions with me.

First, make sure you use the extra time to get Certified. "Luck" has been described as the meeting of preparation and opportunity. If you have the experience and hopefully the education get the paperwork filled out and and get that state exam behind you. I would not discount the importance of having Certification in hand when opportunity knocks.

Quite honestly, if you don't have that, any business you bring in just might be snookered away from you by your office peers when you aren't looking.

As I'm sure you know, anyone who is in the position that they require appraisal work to be done probably already has an appraiser in mind. I'm sure you might find users out there who are unhappy, but my guess is they are not unhappy about fee, t-times, or quality (if they are interested).

So...

One suggestion would to focus on building relationships. Attend all the free classes you can attend via the local Board of Realtors. Any HUD meetings in your area? Try anywhere you can meet people, start a discussion and hand out business cards. Free classes on anything will work.

I handed out a business card at the Orlando Public Library Saturday before last that yielded two jobs - both COD, and no extra baggage to deal with.

Good luck.

 

[Scott Lanz]

Here is one of the best ways to get clients:

Put a marketing packet together with samples, resume, brochure, etc. Make it look as professional as you can.

Grab as many potential clients in your market including attorneys, accountants, lenders, etc.

Make meetings, dress professional and go get them face-to-face.

If they already have an appraiser they are using use this dialogue:

"I understand that you have a professional on-going relationship with this other firm. If I can't be number one on your list, I would love to be number two to provide you with some options."

Then follow-up, follow-up, follow-up. Don't be annoying, but convince them you are here for the long haul.

When you get that first assignment, and you will, under-promise and over-deliver.

Just FYI, I just cracked a client I have been working on for 11 years.

 

[c w d]

A watermark on all printed material of a set of cross hairs will go a long way to impress upon your potential clients the sincerity of your resolve.

 

[NC Values]

I already passed the state certified appraiser exam and have my certification. But I cant figure out how to change my Professional Status on this forum from Trainee to Certified Residential Appraiser??

 

[Mike Kennedy]

SEARCH AND READ THE "MARKETING" BOARD ON HERE>>

http://appraisersforum.com/forumdisplay.php?f=183

 

[NC Values]

I already passed the state certified appraiser exam and have my certification. But I cant figure out how to change my Professional Status on this forum from Trainee to Certified Residential Appraiser??

FYI: After much digging through the forum, I discovered that Professional Status change requires sending an email to the forum administrator.

 

[Mike Kennedy]

http://appraisersforum.com/showthread.php?t=142634