I have seen many friends close their businesses in 2009 due to lack of appraisal work. It things are slow for you, now is the time to start building your business. This article will show you how you can successfully make new contacts and expand your online presence to bring in more appraisal work.
If you need to start bringing in more appraisal work, lets face it, it is not going to come knocking at your door. But, with some serious effort, you can start building up your client base again and even exceed your previous income. Is this a scam or a lie? Not at all, but remember, I did say some serious work. Don't expect to spend one day marketing your business and thinking you are done.
Now is the Time -
Now is the perfect time to bring in more business. Most appraisers are slow right now, not because there is no work, but because they don't know how to bring in the work. I have noticed that about 1 in every ten appraisers have a good work load right now. So what can you do to bring in more appraisal work?
4 Ways to Generate More Appraisal Work
Independent Banks -
Independent banks that fund their own loans do not have to follow HVCC rules and order an appraisal through appraisal management companies. Go to the local banks in your area and find out who does the ordering of appraisals. More than likely, they will already have some appraisers that they regularly use, but ask them to give you a chance. Ask for one order. If you can get one order, that is usually enough to get your foot in the door, and on their accepted appraisal list.
Attorneys and CPA's -
Attorneys and CPA's consistently order appraisal work for their clients. Just like above, they like to know who they are sending orders to, so go introduce yourself. Again, ask for just one job, from there, you will see a steady stream of work if they are happy with your appraisal. If you go out one day and do not generate any work, go again. When I first started marketing my business, I spent a couple of weeks trying to generate more appraisal work.
Appraisal Management Companies -
While there have been some bad feelings regarding appraisal management companies, and rightly so, there are some great AMC's out there to work for. I personally do work for these companies and have no troubles. They pay on time, they bring in plenty of appraisal work, they offer a fair pay split and they don't demand 24 hour turn times. Get a list of amc's and try it out for yourself. There are some bad ones out there. If an amc does something you don't like, write them off your list and move on. There are plenty out there to choose from.
Expand Your Online Presence -
Everyone knows that appraisal orders do not come just from local entities. Your online presence is extremely important as that is how many of these people you are tying to market to will find you. For example, if someone types into their browser " real estate appraiser", you should be in the top 3 to 5 listings on the page. My online presence brings in about 30% of my appraisal work, including appraisal work for personal estate purposes.
If you don't know how to go about doing this, find someone who can help you. This one is extremely important.
As I stated earlier, this is a process that will take some work. If you are like most appraisers right now, you have the time to put in to bring in more appraisal work. Just do it, you won't be sorry.
HVCC Frequently Asked Questions (FAQs)
In order to curb some undesirable effects of the residential appraisal process Fannie Mae adopted an agreement that went into effect May 1, 2009. This article includes the frequently asked questions about the new HVCC ruling.
Signing Appraisal Management Company Contracts
When the HVCC rules came into effect in mid 2009, appraisers learned quickly that working with appraisal management companies wasn’t an option, but a necessity. Although there are many small “here today, gone tomorrow” amc’s, the larger companies were well prepared with their legal contracts and processing software to bring in and maintain thousands of appraisers nationwide.
Top 5 Reasons to Buy an Appraisal Management Company List
With the new HVCC rules coming into affect in mid 2009, appraisers found out very quickly that working for appraisal management companies wasn’t an option, but necessary to stay in business. Finding these appraisal management companies can become very tedious and frustrating. This article will give you the top 5 reasons to buy an appraisal management company list or directory.
