What do you think of this marketing ploy?

[LuckyLucy48]

My sons are both Realtors and they recieved the following email (sent to all local Realtors by a residential appraiser)with the subject line: Appraisal Fee is $195

It is not a misprint. Current price for a full interior/exterior appraisal for Realtor listings is $195.00
Help educated your sellers about todays' market conditions. Keep the guess work out of it. And at this price it wont break the bank to find out the real market value. You can even request a "quick cash value", "as-repaired value" or normal "market value" .
Our appraisals can even have their own webpage assigned to them to help you market and sell your listing quicker.
Call us at zzz-zzz-XXXX or visit our website at www. blah blah

Lots of people are nervous about home values today. The market changes so fast. The best way to learn the real market value of your home in a changing market is to commission a professional appraisal. They're not just for mortgage lenders anymore.
.

It couldn't be easier to learn about and order an appraisal. Simply go to our website www. blah blah. Log in or call us today at zzz-zzz-xxxx.

--------------------------------------------
Rumor has it the guy is a real piece of work. He just bailed out of his house (sold it for a couple a hundred grand less than what he paid for it). Lucky lender, huh??
Is this the kind of fella you want to be taking real estate advice from??

SO.........what do you think??
T

 

[Bama Bayou]

I don't think he will get much business out of this type of add. Realtors are usually pretty good at pricing houses and rarely need the help of an appraiser.

 

[josephdifranco]

I can see the desire to market to realtors, he might get them to push him onto their lenders approved lists, although I don't think it will come easy. If he works hard, he might get a little business out of it. It often beats refinancing appraisals where pressure may be worse to push values higher.

I've been referred by local realtors to appraise their listings, its because the seller is pushing the price too high and they can't get them to lower it. BTW I was not pressured to bring in a low value.

"Help educated your sellers about todays' market conditions." - I think its funny he professes to be the "educator", but he used the wrong tense of the word educate, all in the same sentence.

In conclusion, if I was still a residential appraiser, sitting around with nothing to do, I would try to market to realtors as well, but I don't think the super low pricing is a great incentive. If he reaches realtors with stubborn sellers, he may get a few orders and a few contacts as well.

 

[Mztk1]

I got the same ad.

It isn't a bad idea. You don't do the same appraisal you would for lending. You can make is more of a restricted report and keep it easier to write.

I get calls from REALTORS to do pricing or to assist with a contract offer every once in a while (maybe two or three times month). But one thing I have found out, when an agent is asking for an appraiser's assistance, it is because it is a VERY difficult house to comp.

There may be a market for this in the FISBO market, or with owners prior to interviewing agents so they can weed out the good agents from the ones who will say anything. The trick is reaching the owners, not the agents.

 

[Hamlet]

Why would you think he is a piece of work because he is trying a marketing ploy, which I don’t see anything unethical (he isn’t advertising free comp checks for Pete’s sake ), or because he lost his house?

Could be a market in others facing the possibility of losing their homes.

 

[starmansf]

There is nothing wrong with what the appraiser is doing. I market to real estate agents too. If they can use me, great; if not, maybe they know somebody. If the guy wants to do it for $195, that's his business.

It's sort of cheap to hit the guy for losing his house, like he's the only one out there.

 

[Elliott]

Well some appraisers have become very adept at writing a SOW
that will make these sorts of assignments profitable. Of course
TAF thinks this sort of activity is a 'business decision.'

My personal opinion is the solicitation of appraisals services is
a kin to other people who solicit 'professional' services.

 

[AASNJ]

""snipe"" Realtors are usually pretty good at pricing houses ""snipe"".

WOW Bama, I wished I worked in Alabama!!!! When I ask the realtors in NJ for the comps they used to price their listing, they tell me thats what the seller wanted to list it for....

 

[starmansf]

Elliott,

I don't see the connection between sow and marketing. And what's wrong with advertising yourself? Are we supposed to hide out somewhere and not dirty our hands with making money? It is interesting that you equate marketing with prostitution. What made you choose this career?

 

[Elliott]

Michael,
This thread was described as a 'marketing ploy'. I understand and appreciate
advertising. I know the Supreme Court allows doctors to advertise on TV that
they provide silicon implants that are guaranteed to improve your self esteem,
or lawyers who don't charge until they win your case.

I choose this 'profession' 30 years ago because I thought it had the potential
of being a profession, similar to being a CPA, y'know, something respectable. I
did my classes, did my demo, achieved my designations. I've been watching
federal licensing for the last 15 years with amusement and amazement.

I wouldn't deny an appraiser his right to mass marketing an email to realtors for a $99
special....no conflict of interest there, totally USPAP compliant. If you carefully read
my post, I never mentioned 'prostitution', that is an assumption that you made.