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Looking to diversify clientel

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appraisalaska

Thread Starter
Sophomore Member
Joined
Nov 29, 2007
Professional Status
Certified Residential Appraiser
State
Alaska
I was thinking this weekend of trying to come up with other industries, professionals, etc. that would need the services of my appraisals. I have only worked with mortgage lenders, real estate agents, etc. before and was wondering if anybody had ever targeted other industries. For example, I was considering contacting some attornies that handle estates to see if they ever need an appraisal completed to split up assets, etc.

Has anybody had experience looking into these and if so, how are they working out?
 

Kali the Boston Terrier

Senior Member
Joined
Jul 7, 2003
Professional Status
Certified General Appraiser
State
Michigan
Most of my business comes from attorneys and accountants. They all have needs that go well beyond litigation and estates. However do not even attempt to do that work without boning up on your IRS reg's for the accountants, and your state's rules of evidence for attorneys. Without knowledge of that stuff you lack the compentnecy to perform the assignment. Just FYI.
 

Vernon Martin

Senior Member
Joined
Jun 8, 2005
Professional Status
Certified General Appraiser
State
California
Isn't this a good time to do property tax appeal work? Or is Alaska still booming?
 

KenRossman

Senior Member
Joined
Oct 20, 2004
Professional Status
Certified General Appraiser
State
Florida
I have spent the last 12+ years diversifying away from mortgage origination appraisal work.

My appraisal business today is well over 90% non origination mortgage assignments.

I have written numerous articles on the subject .

Here is my most recent...

http://appraisalnewsonline.typepad.com/appraisal_news_for_real_e/2008/01/diversification.html

My current hottest niche is pre-listing appraisals for homeowners, I am averaging two to three of these a week at full fee.
 

Birdman

Junior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Ken,

Great article. Sound advise.

Steve
 

DWiley

Elite Member
Joined
Apr 4, 2007
Professional Status
Certified Residential Appraiser
State
Tennessee
I second Ken's suggestion about pre-listing appraisals. We market to both owners and agents. Agents don't want to waste time on over priced homes, and it is easier to let the appraiser be the bad guy telling the truth.

We currently have 4 or 5 pre-listing assignments.

DW
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Yes, I to am getting these assignments. The task is for the agent to convince the owner to list at a reasonable attainable price so they can move on with there plans.

I only use the AI form. Several buyers have attempted to use my appraisal for there loans without my knowledge. Not that there thinking of cheating me, it is just that they dont know better. Once they pay me a good fee I do an appraisal for there banker if they can get the assignment to me.

Here is a tip. I dont include the sketch in the report. The listing realtor gets it for there internal file and they understand why I want it withheld from other agents and appraisers. I do allow the listing realtor to give the sketch to the appraiser if the sale is the listing realtors in-house sale and I dont get the bank appraisal assignment. (some of these homes are huge)
 

DWiley

Elite Member
Joined
Apr 4, 2007
Professional Status
Certified Residential Appraiser
State
Tennessee
Carny,

Good tip!! One could also just charge more for including the sketch.

I have a Word template for a restricted use report format that I often use. Sometimes I don't even include an adjustment grid. Or I may use a very abbreviated adjustment grid.

I also state that the intended use if for deriving an appropriate asking price and that no other use, including mortgage financing, is intended.

DW
 

David Wimpelberg

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
I often use a restricted use format for pre-listing appraisals. The format is keep simple for most of the report ("state" rather than "summarize"), with the valuation section expanded. The valuation section contains sales and listings (sometimes pendings I can verify them). Listings are very relevant in the the current market.
 
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