What are some ways appraisers can generate new business and new leads, outside of AMCs? How do the top appraisers market themselves? We interviewed three leaders in the appraisal profession to find out. Keep reading to learn their expert marketing tips and strategies, as well as techniques to get your name out there and make yourself more marketable as an appraiser.
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Top strategies to generate new appraisal business
Leaders in the profession agree that having an online presence is essential. So is a network of contacts in all areas of the real estate industry, not just the lending community. The basic idea most in play, nowadays, is that your appraisal skills may have applications in areas you hadn’t thought of.
Add some non-lender work into the mix
Britton Falkner, manager and chief appraiser at Joseph & Co. (Hoover, Alabama), acknowledges that it’s getting harder for appraisers to generate new business, largely because of the power that AMCs wield. Loan officers are sometimes reluctant to work with appraisers independently of an AMC, so appraisers have become more likely to offer their services to other professionals, such as attorneys and accountants, who might need an appraisal for purposes other than a home loan.
“We try to do as much for those outside sources as possible,” he says. “The MLS for the Birmingham, Alabama area has made a push to get accurate square footages for its listings, so we work with brokerages, offering to go into buildings and obtain accurate measurements at a relatively low rate. Money-wise, it’s not as much as an appraisal, but it’s steady work; it doesn’t take long; it helps us build relationships with realtors. It also speeds up the process of calling realtors and getting comps.
“The biggest part of our business still is working with lenders, so we still make the…