Non-negative, Non-doom & gloom honest request for help building this business in 2024

[Alsie35]

Probably best kept to yourself. Reduced liability

WHAM! A HOMER! WHAM! ANOTHER HOMER! WHAM! WHAM! WHAM!

 

[Raven59]

How to apply SRA? I am in California. Take some classes and take the test?

For many decades, I have held this designation. While it has helped to level the playing field with my competition to some extent, its impact on my business has been limited. Occasionally, I have received unique property assignments as a result of it, although the benefits have barely outweighed the associated fees. My commitment to education and to bettering my knowledge of the industry have been the biggest wins. If the SRA forces you to better yourselff with education and advancement of skills, go for it.

 

[Tom D]

prior to certification the SRA was needed to get business. it was a gold mine license. after certification it became useless. the appraisal institute is worthless, it never supported the residential side.
the test was the hardest test i ever took, was about 6 hours i think. however, very few people ever got to their demo report which is required. out of a class of 100 people i think maybe 4 got their designation.
although today, that info needed for the demo report is more available. had to type it then, computers were just starting. as i remember my demo report was over a 100 pages.

 

[J Grant]

How to apply SRA? I am in California. Take some classes and take the test?

Contact the appraisal insitutie. They generally have branches in a state. It is like a college degree in appraising, like getting a masters degree.

 

[Raven59]

There were plenty of "peanut butter and cracker" days and times when I called myself just to make sure the phone worked. But through it all, my desire to carve my own path kept me going, and in the end, it paid off.

One crucial piece of advice is striving to become your field's go-to person. This can only be achieved by developing skills and knowledge that surpass your competition. Equip yourself with the right tools and be prepared to offer solutions to clients that others cannot.

You can invest in your education, even if it seems unrelated at the moment because you never know when that knowledge will open new doors. I specialize in litigation and complex properties, but you can find your niche and become the best. Continuous learning and self-investment are crucial to building a successful and fulfilling career.

Key points in my career.
I invested in education.
I took the hard ones and forced myself to expand my skills.
I stopped telling my clients what they needed and instead listened.
I defined my space and stopped letting others tell me how it had to be done.
I spent time answering potential clients' questions even if there was no money involved.
I never put my integrity up for sale.

There is a big world outside the AMC box.

 

[Overimprovement]

Cold calling and walking into places unannounced doesn't work. You need referrals and recommendations.

I beg to differ. I got several of my best direct clients that way. Your 'referral' may well come from the mortgage lender you end up talking with in the branch.

 

[Overimprovement]

I've mentioned this in the past, but go to your local courthouse (if online even better), and go through every recorded mortgage to see WHO is actually doing financing the mortgages in your area. True this is only mortgage work, but I was surprised at who some of the players were...and were not. Got a few good clients this way, helped me to direct my energies at those lenders doing the most in my coverage areas.

 

[Joe Flacco]

I prefer working with banks but better to expand outside of bank work for the forseeable future.

 

[Joe Flacco]

Easier to find business that is not banking related than to get on with good banks right now.

 

[Cob]

**Disclaimer***
Sometimes finding advise on here can be a little deflating. I get it, the industry's changing. We have to adapt. This whole "if you're under 55 and new to this, you better hit the road running!!!" gets so damn old. Please, for the Love of God, we get it. I don't think anyone that gets on this website is looking to just throw their hands up and act like its not worth their time.

I've seen so many posts asking for help as a new appraiser that seem like I could have typed them myself. So many of us are struggling to find work in this real estate economy, all while more banks sign up with AMC's everyday and farm out bid requests like its the best thing since sliced bread. New challenges in the industry will set the stage, and we have to learn how to overcome them to become successful.

So for those that actually want to discuss the wins and losses, what works and doesn't, please read on and feel free to contribute! If you want to respond to this disclaimer with your opinion of the industry, it will be ignored and/or deleted.

*this is NOT directed at anyone in particular*
___________________________________________________________________________________________________________________________________________________________________

Now that we have that out of the way, lets get down to business.

I, like many of you, have spent countless hours signing up for AMC's, calling and visiting banks, handing out business cards to realtors & brokers, and so much more. Where/who are you having success with getting continuous business from? I'm going to list the AMC's below that I've had success getting orders through as of 06/05/2024.

-Class Valuation
-New American Funding
-Nadlan Valuation Inc
-ACT appraisals
-UWM appraisals

**I've signed up (and been approved) to many other AMC's, but these are the only ones that are sending me work.**

My previous supervisor barely has enough work to keep himself busy. Are you able to still get work from your supervisor?

What banks/AMC's are you having success with, and where are you located?

How are you having success signing up with local banks in your area? How did you approach them?

What other avenues are you exploring to expand your marketing efforts?

How are you approaching people like divorce lawyers, credit unions, estate sale company's etc?

1 recent marketing win I can share is going onto a private facebook page for realtors in my area and asking who their favorite local lenders are that they've worked with over the past year. I'm currently in the process of reaching out to these realtors that responded to share my contact info and contacting the lenders they mentioned.

Another win I've had success with is offering a home measuring service to realtors and provide floorplan sketches for them. "ANSI standard compliant, interior measurements, completed by a CRA". If you want to see an example, shoot me a message. This is a good way to stay in front of your local realtors and supplement a little income too.

Please feel free to share anything that you've had success with recently!! I hope this thread can help us throw some ideas around we can take home to our own markets.

Thank you! Lets help each other out!

Try local banks and credit unions, check and see if there are any BNI chapters in your area and try to join one, do an Internet search on what BNI is and if you are interested in joining one, you can try tax appeal appraisals, check into becoming an arbitrator in the state of La.

Louisiana Academy of Mediators & Arbitrators

The Louisiana Academy of Mediators & Arbitrators (LAMA) is a professional association of the state's best established ADR professionals, all of whom have proven experience in the resolution of civil & commercial disputes. LAMA is affiliated with the National Academy of Distinguished Neutrals...

www.louisianamediators.org