• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Door Hangers

Status
Not open for further replies.

Peggy Wright

Sophomore Member
Joined
Mar 16, 2003
I have found the dream LO! She calls me and says this is where we need to be to do a refi. I'll make any adjustments when I see where you get it. She also participates in myREI group. She also seems very honest and ethical, and realizes on some houses, it just aint gonna work. She has also started getting the fees up front with clients, and gives it to me at our meetings with the order. I get a check with the order!

So, I've decided to nurture this relationship. We are going to go in halves on some door hangers, her info one one side with a discount on fees, and my info on one side with a discount on fees. We are going to hang them in all the areas that the taxes are being reassessed on newer homes.

Thoughts?
 

David Riggs

Sophomore Member
Joined
Apr 12, 2002
Comment:

Find 5 more LO's just like her!! ;)

I am confused. How will a tax reassessment generate a new loan?

It also sound like the REI thing is working ! I am going to have and try it.

Thanks for the comment!
 

Peggy Wright

Sophomore Member
Joined
Mar 16, 2003
In Indiana, we have the highest forclosure rate in the nation. Two reasons, One, track builders doing a 2/1 buydown. The rate increases. Then, since taxes are figured in arrears, when the rate goes up on the mort., the taxes are also being imposed. AND because inadequate escrow was allowed for the taxes, they are making 2 tax payments to get "caught up". Further, our state was required by Supreme court to reorganize our tax rate. The lower price houses are going to be hit hard, from all that is being said. So, even if they have a not so new house, increases in payments due to new higher tax rates will cause a lot of people to refi who haven't to get those payments back down.
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Originally posted by Peggy Wright@May 30 2003, 08:00 AM
I have found the dream LO! She calls me and says this is where we need to be to do a refi. I'll make any adjustments when I see where you get it. She also participates in myREI group. She also seems very honest and ethical, and realizes on some houses, it just aint gonna work. She has also started getting the fees up front with clients, and gives it to me at our meetings with the order. I get a check with the order!

So, I've decided to nurture this relationship. We are going to go in halves on some door hangers, her info one one side with a discount on fees, and my info on one side with a discount on fees. We are going to hang them in all the areas that the taxes are being reassessed on newer homes.

Thoughts?
Peggy,

I don't understand. You have meetings with the loan officer? Is this a partnership type relationship? Is there a conflict here? Can you be objective as far as preparing the appraisal report and opinion of value? Door hangers?
 

David Riggs

Sophomore Member
Joined
Apr 12, 2002
Charlotte,

Peggy is part of a reasource group called rei, that send business to each other as a method of networking. They meet, talk about their business, become friends, then send business to each other.

david
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Originally posted by David Riggs@Jun 2 2003, 04:12 PM
Charlotte,

Peggy is part of a reasource group called rei, that send business to each other as a method of networking. They meet, talk about their business, become friends, then send business to each other.

david
Oh, I know about networking. This is just different than how we do business here. Professional business relationships are what we have. Friends would be, ah.......your dog, your cat, your husband & maybe a neighbor or two. I don't get "friendly" with my clients because I like to keep that professionalism and objectivity under wraps. Other than a fall party, a Realtors' convention lender's party, or a golf outting once a year for all involved in this profession, I don't get involved. During the holiday I send poinsettias and candy to my clients. Other than that, it's strictly business. Guess it's different in various areas. Please pardon my ignorance. :unsure:
 

Peggy Wright

Sophomore Member
Joined
Mar 16, 2003
Charlotte,

Somewhere along the line you got the wrong impression. We are business collegues who meet regularily as part of networking. I've never been to her home, nor her mine (not that you can't become friends with people and stay objective about work, I can. )

As a part of doing what we do, we can and should rely on referrals from people in our core networking groups. IE, realtors, brokers, bankers, attorneys, etc. She is part of my core group. She sends work to me, I send work to her. Have I turned down work from her because I didn't like it, yes. Would she turn down a referral of mine if she didn't like the numbers, yes.

I don't know how you can do any business and not network, I just try to take it to the next level and make it revenue generating.

Although the LO and I belong to the same REI (real estate investment) group, we also belong to the same BNI group. www.bni.com
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Peggy, I see. Sorry, never heard of that. But if it works, more power to ya'.

It's different here. The appraisers I know and work with don't network. Since 1993 it's been crazy here. I know we are very fortunate not to have to look for business or to network, but most of us here have built our reputations and are reaping the rewards. Didn't mean to be rude. Our networking consists of 8-9 appraisers having lunch together every month or two. That's when we try to pawn off some work on one another :blink: and discuss the non or slow paying lenders we're getting rid of. After we've beat that into the ground, we discuss a few unscrupulous realtors. The occasional lunches are a good outlet for us.

Good luck in your endeavors.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Peggy, you go for it! Most appraisers do not know have to market their services to the general public. Working a farm for assessment work is a good idea. Real estate agents have done that sort of thing for years. One of the first things you can do since you both are sharing the expenses is ask "what is your interest rate?" "Have you considered lowering your payment?". Then recommend your friend.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks