Appraisal Marketing

[Doug in NC]

Well, as some of you other appraisers have been experiencing a slow market, I have as well. I have decided to start working on a new marketing project. Realtors will be my target.

I know for a fact that they are a good source of periodic appraisal business. I have worked for companies that have gotten relocation clients as a result of realtors, and I have gotten some clients this way as well. They also can refer us when someone needs to remove PMI or for an equity line, etc.. Realtors themselves also occasionally need appraisals for their properties, and sometimes a home measurement.

So, I have decided to hire a professional marketer to produce a flyer for me. The marketing company can also address and mail the flyer if needed. I was wondering though, if maybe a letter of introduction along with a quality pen (with company name, address, and phone number) might be a better choice. I am going to spend several $ hundred on this, so I want the campaign to be effective.

Has anyone done something similar before that was effective for your company? I like the pen idea because I don't expect it to get thrown away like some flyer or letter alone will most likely be. Hopefully, they will hang onto it and remember us when they or someone they know needs an appraisal. Comments/other ideas?

 

[Frederick R. Ruffell]

Doug,
I too have just started a "focused" marketing strategy. My only two regular clients have slowed to the extent that I realized i needed more eggs and more baskets. So what I have done is this, I opened up the yellow pages to "Real estate loans" and "real estate loan processing" and found 4 pages of entries. I call the number and ask to speak to the person who is responsible for ordering appraisal services. I then inquire with that person what their appraisal needs are. I try and get the fax# or email address and send them a pacgage including a resume, copy of E&O, copy of Lic., fee schedule, and an order form. I started 3 weeks and just now am starting the B'sbecause I picked up several orders from doing this and together with the regular clients I got busy for 2 weeks. Yeah, I know it sounds simple and obvious but it has worked for me. It is still all mortgage origination work but here in southern CA there is little REO work that I can find and I am still hesitant to start looking for probate work.

Anyone else care to share how they grow their business?

 

[TEL2002]

Ruffell,

Great ideas. I will be trying it soon.

I am going to shoot for the probate work also. Just finished my drafdt of the letter to the probate judges.

 

[Terrel L. Shields]

Wish I could give you some work. I have been handing out pens with my competition's name on them.

Ter

 

[Pamela Crowley (Florida)]

I spent some time in the late 80's in advertising. The highest rate of return is from oversized color post cards, handed out or mailed.

try this: http://www.adventureimaging.com/

I didn't price them. I have made my own and handed them out via cold calling on lenders with good results.

Good luck!

 

[Doug in NC]

My goal is to avoid the lender's leash. I don't mind doing some full fee lender work for now, but in general, I realize one day most of it is going to come to an end (if it doesn't end, some appraisers are going to get high volume low fee driveby work to support themselves).

My goal is to find those "other" clients. Like successful realtors, I think we need to have a referral base that will supply us with a continuing and diversified source of business. With enough effort, I think this can become a reality.

 

[Dee Dee]

I found that magnetized biz cards tend to be held onto longer than the standard paper kind. I design and print them on my own equipment. Have noticed that some of my regular clients put them on the sides of their file cabinets where they are seen daily and not lost in the paper shuffle.
I'm in the process of re-designing my logo and working on a brighter background color that will stand out a bit more.

Dee Dee

 

[Charlotte Dixon]

The only advertising I do is the imprinted pens, which I provide to various clubs/organizations I support (like). Once in a while for the luncheons I have one placed by each member's luncheon plate.

When I started my business in 1993 I heard that this flood of work will come to an end, but I don't even take that seriously anymore. I'm afraid to wish, but if I could get some time off, that would be really great. Of course, If I took a couple weeks off maybe I wouldn't be busy at all when I got back, then I'd have to diversify and advertise! :roll: I think it's a geographic thing. The appraisers in my area all have bags under their eyes and their nerves are worn thin. :?

 

[airphoto]

All,

If you've noticed my post under "Urgent" with respect to Mom cut up and packaged in the freezer, let me share with you how the assignment came about:

In NY, at least, if one dies intestate, or if there's discord among the survivors about who's to be executor, or the family/executor's out of state then the court will appoint the county treasurer as a disinterested third party to administer the estate.

Typically the treasurer passes the responsiblity to a friend/attorney for the nuts and bolts part of the job .. and the attorney will control calling for an appraisal of the real property! Did you catch the drift?

It's a good idea to put your county treasurer (or whomever is typically appointed the disinterested third party in your area) on your list of folks to get to know and solicit for appraisal work!

 

[jimcmurray]

I do not know about your area but I believe what I did when I got started works the best. I knocked on doors, met loan officers for coffee. I tried a few mailers but my best results were from face to face in the local area.

The only ones I called were out of town lenders.

I was a little slow about two weeks ago, but I was happy for the break. Then things started rolling in again 3 to 4 appraisal orders a day. Too many.

I believe you will save money and have more success by the personal touch. I f you give your client a turn around time, break your neck to make it, but do not break any laws ethical or morale when determining values, your good clients really only want a realistic value, the others can go bye bye and normally do when we don't fabricate values.