Cold Calls, Is It The Only Way?

[Renee Borne]

It is time for me to go out on my own but where to start? I have spoke to other appraisers and all I heard is you need to get some business cards and start hitting the pavement, ie: visit offices, etc. Is this the only way? How do I get to the person that orders the appraisal? Do I need to get on lender's lists? I am in a very competitive market so if anyone could point me in the right direction I would appreciate it. Read marketing books and have completed a marketing plan, now what?

 

[Dale Smalley]

smile and dial.

If that doesn't work hire a professional salesperson.

 

[Terrel L. Shields]

Start with the obvious. You bank somewhere don't you? Talk to your loan officer, see who they work with, network thru them. Family? Surely you don't all bank with the same people...talk to them and ask if they can help, and often they will tell you to call ole so-n-so. Make friends with the loan secretary. She/he is often the traffic director. 4 of 5 times the leads go nowhere but this is not pointless as you cannot predict when a job pops up. And if you have no work you have time to visit them and visit them - do not call, do not fax, face them eye to eye first time...after that, say 30 days or so, have a little fax, to the lending dept. saying, I am caught up, if you need anything quick call me and I will be on it within 24 hours! Big bank? call on the Estate and Trust departments....give them cards. They often need an appraisal for an estate or trust...and often do not get calls. Pens with your phone #, calendars, coffee mugs (not cheap, but keeps your ph.# right in front of them), key chains...all these are good gifts to LO AND THAT ALL IMPORTANT LOAN SECRETARY...DON'T FORGET HER! Give her plenty of your pens, when somebody comes in asking about getting grannies place appraised, guess what? She might just give them a pen...as long as it is a cheap pen...giving out expensive pens defeats the purpose! They hang onto them.

If you must depend upon out of town mortgage companies you will never get the much easier better local bank work...and I mean real banks, not those mortgage broker hacks.

Then start on the attorneys who advertise they do estate work........and don't forget THEIR secretary...make friends, give 'em pens, send flowers, offer sexual favors [well, be a little choosy before you try that option-especially if you are both the same sex]

 

[Doug in NC]

She might just give them a pen...as long as it is a cheap pen...giving out expensive pens defeats the purpose! They hang onto them.

Although the pens may be cheap, make sure they at least work. I bought some in the past that look like they are quality pens, but they quickly fail (ie. pen closes up on itself while you are using it). I get samples all the time. I use each for a few months to find out if it is one I would consider buying.

The last thing I want is to give out a pen that is useless to write with. I think this will reflect poorly on the company whose name is on the pen. JMO

 

[SillyMe]

I have not seen anyone mention this but what about mouse pads? I use to do printing and could easily make them for 2-3$ a piece.

I am a major newbie so I have decided that I am going to set aside 20% of my income for 6 months to put towards marketing. I plan to do mousepads and coasters.

This may not be the most popular thing to do but I started on page 26 of the "Clients - Good, Bad & Ugly" folder and have worked my way to page 23 so far. I have applied or contacted everyone that had a good reputation. It is very time consuming but I have gotten 3 orders so far this week as well as a good client a couple of weeks ago that pays full fee with no value pressure.

 

[Terrel L. Shields]

I have done mouse pads. That is a good way to keep your name in front of people. Unfortunately, I had a light grey logo on a white background, which is a pretty much no-no with optical mouse..use darker colors.

 

[Mike Seward]

What has worked for me is to join trade organizations and become active with them. Examples are Womans Council of REALTORS, Natl Association of Mortgage Women and local Mortgage Broker associations.

Don't just join, become active. Get on a committee. My wife joined WCR here and volunteered to head the sponsorship committee. As committee chair, her responsibility was to contact all of the affiliate members (banks, mortgage brokers, title people, etc.) asking them to sponsor various WCR projects and functions. Then when they see her or me at a meeting, they know who we are.

Another thing that has worked for us is to volunteer to give talks or seminars on "appraising 101" to REALTOR groups, or loan officers.

Good luck.

 

[Jim Onderisin]

A little marketing goes a long way. While cold calling isn't the most pleasant task for most people, there is no more effective way of beginning the process of becoming known. I can make 10 or more calls in the same time it takes me to drive to my local bank branch and pay an in-person visit. And, if an employee is busy and can't speak with me, the call just goes into voice mail or I can just tell them I'll try again later. Plus..I don't even have to change from pajamas.

 

[Peter LeQuire]

RB -

If you're going out on you own, I'd assume that you've been doing appraisals for somebody. That, to my mind, is your starting point. Unless you've agreed to not compete with existing clients of the person for whom you work now, start there. Call on them, remind them how competent and professional you are (subtlely, of course), how you've valued them as clients, and ask for their work.

Business cards - the more professional the better -are essential: that's been mentioned. Terrell's suggestions for working a bank are excellent - most of the folks behind a desk in a bank do loans, and that includes real estate loans.

Getting to the person who orders the appraisal - that's generally the LO. Ask your Realtor friends which LOs they use, and use the Realtor as a referral source. ("Hi, LO. I'm Renee, I'm an appraiser, I'm good at what I do...................")

Network: (though I've come to despise that word) simply ask the people for whom you do work if you can use them as a reference is talking to prospects.

Pens and mouse pads are good. I've handed out appraisal request forms of my own devising: once you're in front of someone who is a prospect, it provides them with a tool that might make their job a little easier.

What Kim said about working through a list of potential clients ("suspects") is excellent. There are all sorts of bromides about the necessity of developing prospects from a population of suspects. I also like what she wrote because it is a reminder that doing this kind of work is work - it's not easy, it requires continual effort and "game face" and can be terribly discouraging.

Look confident. Dress professionally. Take an afternoon off from time to time.

Non bastardum carborundum. :lol:

 

[Alisa Ottaviano]

Peter,

I am a trainee and am building my own client base...my mentor talks about
retiring often....BUT I wouldn't think of talking to his clients in that manner. That doesn't seem right to me after he spends so much time teaching me.

He has encouraged me to develop my own clients and I do so mainly with
a flyer I send out. I also make sure I give a business card to each home owner
I visit and have had referrals from them.

Just my $.02

Alisa