Ross (CO)
Senior Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Colorado
In March my insurer for cars and home sent out a flyer announcing they are doing equity loans as additional service to their policyholders, and on the flip side at bottom was small print stating that an appraisal may be needed to supplement the application process -- bingo. Called my agent and asked what he does when one of his policyholders calls and requests one. This is a major nationwide insurer who does TV ads, et al, and so I was told to contact their home office and get approved. We all know what that entails, and did it, and got that letter of approval. I went to the Yellow Pages and copied the page with the all agencies names and addresses in our metro area. Last week I visited 23 of the 33 branch offices and did what I did for 10 years before appraising (outside sales). I stuck out my hand, introduced my self. Gave all a copy of that approval letter and a business card or few for all the staff there. Response from majority was very positive as they now knew who to turn to for this function on a loan product ! Major insurance companies are flush with cash, for the most part, and want to lend some. Since THEY hold most of that paper they want sincere valuations with no b.s. ! Many agents knew the home office was promoting equity and mortgage loans but agents have been slow to add these to their product line. I was doing what the home office suggested I do --- visit their branches and tell them I have been expreessly selected to serve their appraisal needs. Short of me being mentioned to get their orders, the home office would have to use a management company and some agents said they had some hassles with persons coming from far away to do local assignment here. This marketing costs an $.08 copy of a letter, a few business cards, and adds the best selling feature of all, being a face-to-face meeting with the prospective client. They want to know a face and a handshake, as well as the voice on the phone. Sure beats those distant sweat-shop loan brokers who want comp checks and oh, by the way, we think the house is worth $XX........Shall see what comes of it.
