Promotion/Discount/Marketing

[Jerry Stewart]

I've had a few clients invite me to their Christmas parties this year. A couple have sought out "sponsorship" of one aspect of their party. Others have asked that I bring "coupons" that they can give to their clients for say $50 off an appraisal.

Now - I don't mind doing a promotion now/then during slow times but I've come to an idea. Instead of "sponsoring" an item for their Christmas party or handing out some sort of coupon - is it possible to have a promotion of sorts for my clients. I'm thinking of running a promotion whereby each appraisal ordered would get the persons name in a hat - at the end of March, we pull a name out of said hat and reward a prize. Is that permitted?

 

[Richard Carlsen]

See your State Law on that one.

Bet it differs from state to state.

 

[Brad Ellis]

Yes- IF you disclose that incentive on each and every appraisal report.

You are better off with the sponsorship since it is not an ince ntive for any particular assignment.

Brad

 

[Jerry Stewart]

See your State Law on that one.

Bet it differs from state to state.

I called the state office and they said there is nothing Statewise, but that "I should review USPAP" I can't find anything in USPAP one way or the other.

 

[Mike Boyd]

I think the sponsership is a great idea. It would get your name out to many people and would be a direct tax writeoff.

 

[wickedness1]

I called the state office and they said there is nothing Statewise, but that "I should review USPAP" I can't find anything in USPAP one way or the other.

USPAP states you have to disclose the incentives on every report

 

[Jerry Stewart]

USPAP states you have to disclose the incentives on every report

Cool - no problem

Thanks for your help

 

[GA Benny]

I think its a great idea and you could even use the disclosure to your advantage and get paid faster. You could disclose on the invoice that all invoices PAID by a certain date will be entered into a drawing for a prize.

 

[JT1974]

Sounds an awful lot like you will be running a LOTTERY. I wouldn't do it.