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Business Volume Changing?

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Jeff Deuitch

Sophomore Member
Joined
Aug 15, 2006
Professional Status
Certified Residential Appraiser
State
Florida
Anyone else observed reduction in orders and solicitations lately?

I have a large client that pretty much keeps me busy full time. Lately I have seen a substantial reduction in orders. Hope I am not getting in bad stead with client. However, I have also noticed a very substantial reduction in the amount of bid requests from the numerous AMC's I am approved with.

Nationwide I am seeing many reports of dark clouds over various real estate categories and locations. Listing volume is definitely rising rapidly in several neighborhoods in our area here in SW Florida. Beginning to look a bit like 2005-6? Those of you in the business at that time remember? Your thoughts about the near future?
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
Not as bad as 2006, but the rise in prices does turn off buyers at a certain point, and makes buying unattractive and at some point unaffordable. I also think refi market is tapped out. New president with radical change agenda making people nervous. Then add in interest rates are okay but not great.

I have been dead slow for past 3 weeks so it's not just you, my good appraiser friend in California also very slow.
 
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gregb

Elite Member
Joined
Sep 3, 2011
Professional Status
Certified General Appraiser
State
California
Nine orders including one ten unit apartment; VA orders have been relatively stagnant, about two a week, but private orders have filled the gap.
 

bnmappraisal

Elite Member
Gold Supporting Member
Joined
Nov 9, 2011
Professional Status
Certified Residential Appraiser
State
Florida
slower here in the Tampa Bay area. I just looked, though, and Jan has typically been pretty slow for me for the past few years. I am optimistic that it's going to pick up though.
 

justheretoaskaquestion

Freshman Member
Joined
Jan 25, 2017
Professional Status
Certified Residential Appraiser
State
Illinois
This is the slowest we have been in 10 years. The slow down started in November and got worse in December and this month has been the worst EVER. We average 60 appraisals a month all AMC work. This month we are at 17. We have never seen anything like this. Our busiest client totally stopped. Wonder if we are taking about the same one? We have reached out to every AMC we are signed up with, they say it is just slow. I have also reached out personally to every appraiser in my area and surrounding areas and they have all said the same thing. Don't know what else to say except that I know God will provide so we are just being patient and taking this time to sign up with new AMCs and reach out to attorneys for divorce work and to get VA approved and see what it takes to be able to do relo work.
Best of luck!!
 

justheretoaskaquestion

Freshman Member
Joined
Jan 25, 2017
Professional Status
Certified Residential Appraiser
State
Illinois
Nine orders including one ten unit apartment; VA orders have been relatively stagnant, about two a week, but private orders have filled the gap.
What do you mean when you say private orders?
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
Anyone else observed reduction in orders and solicitations lately?

I have a large client that pretty much keeps me busy full time. Lately I have seen a substantial reduction in orders.
Anytime that a large percentage of work comes from a single client that is problematic as any change in your relationship with that client, the business model of that client, or just a reduction in that client's volume can mean that your volume can drop off precipitously with little or no warning.
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
we are just being patient and taking this time to sign up with new AMCs and reach out to attorneys for divorce work and to get VA approved and see what it takes to be able to do relo work.

now is not the time to sign up with new clients looking for work. that time ended about 2-4 months ago when things began to slow down. if you want to market you/your firm to new clients the time to do it is when thing are the busiest and everyone is looking for appraisers. when orders dry up there is no need to add more people to a panel that can't support it's existing members with orders. good luck though.

about the only avenue i can think of that may produce orders, and that is iffy at best, is marketing to agents and brokers for private work. i have been doing it throughout 2016 and i am averaging about 10 orders a month of private work from agent referrals.
 
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