Marketing To Homeowners/lawyers

[Rick Stillman]

Perhaps. But dealing with lawyers is no different than dealing with any other client group, but the business relationship is generally less one-sided than it is with an AMC or secondary market lender. If you don't know them, personally, find out their reputation. Sculpt your (not their) engagement agreement so that and service beyond delivery of the report will require additional fee: most divorce lawyers (and many lawyers doing estate work) don't want to pay any more in fees than they have to: fee for consultation, for testimony, or whatever. And for divorce work in particular, your appraisal becomes just another "chip" in the bargaining pile between the parties. Take a course that covers litigation appraisal work.

And get the money up front.

I am making lawyers my number one niche. Love these people. So direct and professional - and smart. The brain cells that were in a coma from talking to AMCs are starting to reawaken now. It's SO nice to talk to intelligent life again!

As for defending my work... every appraisal I do I adhere to the highest standards in the ASSUMPTION that it will be challenged. If I can't defend my work, I really should be working in a cubicle somewhere for an AMC, cuz I mmm a praiser ya know.

If I have to go to court, so much the better. I know my stuff. My rates are in 4-hour blocks, so it will be worth my while. I have offered to take on other appraisers as affiliates for the overload, and surprisingly they have turned that down. Too scary. What if they had to explain or defend their work? Yeah - what if?

Confident appraisers that actually do know what they're doing and CAN defend their work are few and far between. That's kind of pitiful.

 

[Raven59]

I am making lawyers my number one niche. Love these people. So direct and professional - and smart. The brain cells that were in a coma from talking to AMCs are starting to reawaken now. It's SO nice to talk to intelligent life again!

As for defending my work... every appraisal I do I adhere to the highest standards in the ASSUMPTION that it will be challenged. If I can't defend my work, I really should be working in a cubicle somewhere for an AMC, cuz I mmm a praiser ya know.

If I have to go to court, so much the better. I know my stuff. My rates are in 4-hour blocks, so it will be worth my while. I have offered to take on other appraisers as affiliates for the overload, and surprisingly they have turned that down. Too scary. What if they had to explain or defend their work? Yeah - what if?

Confident appraisers that actually do know what they're doing and CAN defend their work are few and far between. That's kind of pitiful.

Often in the litigation arena you become the counselor. One must rely on their skills to guide their client on what can or cannot be supported. One's weaknesses are exposed but those with the skills the rewards can be substantial. Sometimes I never hear from my clients for months as they trust you as a professional and let you do your stuff. Depositions are common but court appearances are rare.

I understand my stuff today much better than the template and checkbox days. This niche is rewarding!

 

[Peter LeQuire]

An unspoken (at least so far in this discussion) advantage is the fact that while appraisals will be scrutinized, and if the stakes are large probably reviewed by another appraiser hired to find weak spots in them, one doesn't have to put up with the nit-picking administered by (in my experience) most secondary market lenders and their designees. Advantage goes to the appraiser who is thorough, who writes well, who doesn't get flustered when challenged, and who puts on a suit.

 

[bnmappraisal]

Received my next batch of 1,000 business cards the other day via Vista Print:

Standard Business Cards
Bus Card 5
Qty: 1000

Base Price $40.00 $19.99
Blank Back Side INCLUDED
Matte INCLUDED
Item Total $19.99

Merchandise: $19.99
Shipping Charges: $7.99
Total: $27.98

Best $30 I spend for marketing every 2 - 3 yrs
(edit to add: I don't just hand cards out 1 per house. many times there are multiple people there or I've had people from my kids' school ask or agents ask to have "a bunch" to hand out at their office, etc)

 

[TRESinc]

Going to local agents' sales meetings was more productive for me. They are always looking for speakers.

bingo! after a year's worth of talks i was getting 5-10 referrals a month from agents, and i still am. bring bakery and coffee from somewhere like panera - agents LOVE free food.

https://getmytruevalue.com/

damn that looks like an AMC site - we have the best appraisers - any easy statement to make but hard to prove

 

[Peter LeQuire]

Going to local agents' sales meetings was more productive for me. They are always looking for speakers.

My sales meeting presentations went a lot better when I developed a snappy riposte to the "value is what a willing buyer will pay" mantra of our RE sales friends.

 

[Dale Floyd]

I've missed something somewhere.

getmytruevalue.com is now findmyappraiser.com

Did something happen, or did Phil decide to just change directions for his site?

I'm a little behind on my A/F posts and appraisal podcasts if this has already been mentioned.

 

[Basically Rectangular]

I'm a relatively young man (early 30's) and thought about making my way (door to door?) to newly listed and recently expired OCCUPIED homes on the market. A simple knock on the door with a business card and an explanation of the services I offer. Has anyone had success with this? I'm a new hound seeking blood. Also considered hitting a real estate/probate law firm once a week with a dozen doughnuts and a stack of business cards (def on a Friday). If that fails, I'll take my one and a half year old cute as a button daughter with me and drum up some business! (Not serious or maybe I am!) Just trying to stick my foot in the door while trying to avoid the AMC model. Thanks for any and all advice!

How experienced are you? If you have experience, and truly know what you are doing, then go for the private work.

AMC's are actually not bad for the less experienced, all those checks and revisions are not there in the private world. Just saying!

Try and be the best at what you do, and the private work will start to accumulate, it takes time.

I recently got a call from a homeowner whose property I had appraised through an AMC, for a refinance. The homeowner is a broker and was impressed at the level of detail and the overall report. He has hired me to do pre-listing appraisals for his real estate listings.

It is possible to get work even from doing AMC work! It is about exposure, you never know who is going to read one of your reports.

Moral of the story, know what you are doing (I can't testify to that), always be better at what you are doing (working on that).

 

[bnmappraisal]

Very well stated, Basically Rectangular

 

[Carnivore]

I have been getting a lot of calls from private owners wanting an appraisal for MV/Pricing because they are planning to sell. Hmmmm...Any Broker will do a BPO for free. So why pay me? Hmmmm...did the last three brokers give them price that did not meet their expectations? Probably! OR they know their market is HOT and my cost are low for a FSBO compared to a Broker's 5-6% fee which includes a free BPO! In other words Brokers are busy selling and don't want to invest the time into a listing that may be priced to high.and or a high maintenance client