Choosing Your Business Name

[Dee Dee]

Roy,

You will need to check with the Department of Revenue website to make sure that whatever name you come up with isn't already being used in any real estate business (for tax filing purposes), and then fill out an application with $15 (I think) to register your own name. Trust me, many of the names that are already taken don't show up in the phone book, and some of the best ones are not available.

When I picked my biz name I went through the entire process and filed it with the state about 3 years ago. Unfortunately another appraiser chose the same name and filed it at the same time. Something got crossed up and now there are two of us filed at the state with the same moniker, the only difference being that the other biz is incorporated and at the time I filed as a sole proprietor. Now I've learned that if I wish to incorporate (which I'm considering), I will have to change my biz name. <_<

What REALLY stinks is that this other biz doesn't advertise in the local phone books like I do, nor do they have a website, but has rapidly taken on new employees that work with a lot of AMC's....I'm beginning to believe it's a sweat shop operation. Suffice it to say that if a week goes by that I don't get a call from some lender looking for someone I've never heard of, demanding an update on some appraisal they ordered, or wondering where they're supposed to send a check, it's a miracle. I have recieved checks written to my business name that are for appraisals I didn't do! Some accounting department they have, eh? Believe me, I have been tempted to simply deposit them and wait to see if anyone ever notices. What kind of business invoices their clients and doesn't give their address or phone number on the bill? DUH!!!!

I have no idea what the reputation of this other business is, but am considering a name change because I'm concerned about being associated with them.

 

[Randy Beigh]

Roy

Very good question. I see that you are giving it a lot of thought.

Several years ago, I saw a PBS show called Small Business and they were interviewing a company in San Diego called Cloud Nine Shuttle. The owner told where he got the name and that he had a test to run dozens of names through. At the same, I wanted to change the name of this business and I called Cloud Nine and asked him about the test. He sent it to me. It is below.

Well the vertical marks didn't paste correct, but you should be able to understand it. The name that we chose was Blue Apple Appraisals and it has been a valuable name. It set us off from the pack.

Hope this helps you.

NAME TEST


Yes No Comments

1. Easy to say
2. Easy to remember |
3. Conveys a message |
4. Cost effective |
5. Clean, crisp |
6. Environmentally correct |
7. Politically correct |
8. Convenient |
9. Professional |
10. Courteous |
11. Fun, whimsical |
12. Market place oriented |
13. Positive |
14. Looks good in print |
15. Trademarkable |
16. Can overcome any prior name |
stigmatism. |
17. Will not get stale |
18. Interesting name |
19. Equally appealing to everyone |
Men, women, fat, skinny,etc |
20. Different from other competitors |
By wide margin |
21. Distinctive and unique |
22. Bold but friendly |
23. Memorable |
24. Capture the spirit of product |
25. Uniquely defined in advertising, |
Yellow pages, etc |
26. How would it play on tv,radio,print,etc |
27. Can it be worn on uniform |
28. How does it look on cups,magnets,etc |
29. Believable |
30. Stage setter, character, personality. |
31. Separates from the pack |
32. Blend of meanings, timeliness, fun |
33. Profitable |
34. Legally protectable |
35. Generates feelings |
36. Things we don’t want. |
Nothing to remember, |
Boring,not relatable, |
Not personable, sterile, |
Impersonal, connotes |
Wrong thing. |





.

 

[Randy Beigh]

Now, I'm answering my own replies.

The other to do is start writing. Ask others and write the names down. Look in books, think of made up words like cars (Infiniti,Acura,Etc) and write them down.

I spent a couple of months on the project and had hundreds of words and phrases to look at.

The one name that I wanted was Wildfire Appraisals. Ran it through the test and I became concerned about offending people, since we have wildfires in this area every couple of years, so as much as I wanted that name, I stayed away. That would be the other advice, I would give. Stay objective and keep your mind open.

 

[Soar Ohio]

Roy,
If you change the order to Home/Golf/Wife you could use Hogwife LLC.

 

[Kate]

When I did suncontract construction work I looked in the phone book to get idea's. that way I could see what I liked and didn't like. I choose a corney name for my buz licenece but I still like it. It was Kate's Wet Paint. Isn't that cute? No one ever saw the name it was just really for the licence b/c I got enough work from one company.

My new LLC for rental properties is Laubscher Estates LLC. Pritty simple but we like it. We are proud of our name and Estates just demands attention. Maybe not, but who cares. You ultimately need to like the name.

 

[wyecoyote]

Kate's Wet Paint

I first quickly scanned through this an read place not paint. Startled me for a second. :mrgreen:

 

[Dee Dee]

Randy,
Wildfire was the name of my wholesale art biz for almost 20 years. It was a great name (people remembered it), and I had an awesome logo with a horse rearing up on it's hind legs that a well-known equestrian artist friend of mine designed for me. The "W" in Wildfire was shaped like flames with the horse to the left of it. My biz cards were gold foil on burgundy linen....pure class, too nice to throw away.
I seriously considered rolling the name and logo over to my appraisal biz, but like you said, it just didn't seem so cool with all of the problems we've had with real wildfires around here.

Too bad....I really liked it....but just about everyone for 20 miles around has been evacuated, been burned down or knows people who have lost a lot from real wildfires over the past few years. It's percieved as more of a bad omen here, rather than the sure hit it would have been five years ago.

 

[Ann O'Rourke]

I started my appraisal company in 1986 and named it Ann O'Rourke & Associates so I wouldn't have to file a DBA.

Not a very good name because it does not have appraisal in the name. Ann O'Rourke Appraisals or something with appraisal would be much better. I can't seem to get around to changing it ;>

You can also name it after your geographic area. For example it could be East Bay Appraisal Services. Alameda Appraisal is too restrictive. Or, if I specialized in a property type I could use O'Rourke Residential Appraisals.

If you want to sell your business someday, a company name without your name would be better.

O'Rourke is not a good name to include in a URL as it is difficult to spell and the apostrophe is a definite problem.

 

[Phil Chamberlin]

Find a name that emphasizes your appraisal niche.
One name I used in the 1980's was "SUBDIVISION APPRAISAL SERVICES". It distinguished my business from every other appraisal office, while also emphasizing my speciality in residential subdivision work.

Find a name that implies an old line firm.
Another name I used in the 80's was "GARDEN CITY APPRAISAL SERVICE", this name was used for regular old mortgage loans. This was in San Jose, it was the city nickname since the 1800's, prior to being the "Capital of Silicon Valley".

My current name, "PLATEAU APPRAISAL SERVICES", defines the section of King County, WA where my office is located.

 

[TEL2002]

When you look at the state list of business names you will get tons of ideas for names. You can twist and turn them around to suit yourself and make them unique.


Colo Appraisals.
Colo Appraisers


Randy has a great list.