How to get business?

[Ryder]

I have been certified for a little over one year. I purchased an AMC list, and I also signed up with all the AMCs on this site. I have three AMCs that send me requests for bids, but I get very few orders. Not even two a week, and the fees are very low. For the record, I have had better luck with the AMCs on this site than the ones in the purchased list.

I have read about non-lender assignments, but I don't know how to get them. There is a coaching website that has a program to teach you how to do them and get them, but I'm not sure it is worth $300. The only reason it might be worth that much to me is that it provides templates for these reports. Since I have very little experience in this area, I could use the templates. I don't know what comments and addendums would be required for these types of reports.

Any ideas to keep from starving?

 

[Elliott]

Stop in at the banks in your area, introduce yourself, talk to someone in the mortgage loan department (if they still have one), and ask which AMCs they use. Same with mortgage lenders in your area. Don't buy $300 lists.

 

[Joe Flacco]

It's a tough environment to be trying to add clients right now. You just need one or two good clients to stay in business. Those one or two clients might change over the years. I never needed more than three good clients. During the pandemic, I ended up with four and unfortunately had to stop working with one due to capacity issues. Now I am down to two good clients again.

 

[Joe Flacco]

This 40 year trend of rates declining fed appraisers for four decades. For those of us in the business today, rates making new lows every seven years or so is all we have ever known. Probably the 40 years appraisers were most relevant. With the end of that 40 year trend, we are now probably past peak appraisal.

 

[Terrel L. Shields]

Community banks - go to a loan officer and find out how they select appraisers and try to get on their lists. Learn to write narrative reports and go for your CG - that's where the steady money is. When mortgages are hot, you will make as much or more than with commercial but day in day out the community banks and private appraisals are best. Go to the CPAs and tax attorneys. And find out if they have a state wide or county wide newsletter or magazine that publishes a monthly or quarterly. Often they accept ads - classified or small business card ads for specialists that the CPA or attorney may wish to hire. These cost from $100 -up per year to advertise typically.

PS - set a reasonable fee and stick with it. Discounting a fee will rarely get you work with banks and private parties who are more interested in quality work and fastest turn time and lowest fee.

 

[gorillakimchi]

I'm thinking about to go to valuation expo this year & hope to find some good clients. I believe exchanging business card in person would be better than spamming application online. (Btw, I did what you did including buying AMC list but didn't work out either lol)

 

[J Grant]

I have been certified for a little over one year. I purchased an AMC list, and I also signed up with all the AMCs on this site. I have three AMCs that send me requests for bids, but I get very few orders. Not even two a week, and the fees are very low. For the record, I have had better luck with the AMCs on this site than the ones in the purchased list.

I have read about non-lender assignments, but I don't know how to get them. There is a coaching website that has a program to teach you how to do them and get them, but I'm not sure it is worth $300. The only reason it might be worth that much to me is that it provides templates for these reports. Since I have very little experience in this area, I could use the templates. I don't know what comments and addendums would be required for these types of reports.

Any ideas to keep from starving?

Move to a geo area where there are few appraisers/they need people, which is often a more rural or outlying area . Or quit appraising while you are younger and train for something else, or apply to the county assessor's office, or dig in and get the CG license.

I think the reality is private work is limited, and takes years to build referrals and contacts to them, the AMC dominance has made the field not feasible in areas with too many appraisers and getting lenders who order direct and don;t use AMC's is possible for might be tough for a less experienced appraiser to get on the list.

 

[Terrel L. Shields]

And yes, I bet California is high on the list of states with a glut of residential appraisers. You might want to rethink your career if you are under 50.

thinking about to go to valuation expo

I bet that is a pretty good place to interact with your peers but I doubt it is much of a place to actually generate any real business. Again, for private work, I'd be looking to advertise in a CPA or Estate based periodical.

 

[andrew81]

I am in a different market.
Every December I go around to the local banks, credit unions, cpas, attorneys, real estate brokers, and township assessors. I give them a little gift.
One year was a mouse pad, next was a key chain, then $10 gift card to a local restaurant... anything, and something.

It is not much, but the fact you were there.

 

[Terrel L. Shields]

It is not much, but the fact you were there.

I had mouse pads printed with my logo and website to give out. I also had several nicknacks and a rubber stress ball shaped like a house is another good Xmas gift.