Attracting More Appraisal Business

6 Tips to Weathering a Slowdown

By Jamie Owen as seen in the Cleveland Appraisal Blog.

Editor’s Note: Diversifying your client base is key to weathering an economic slowdown. So, what can appraisers do to reach new clients or referral sources?

Appraisals are needed for many different reasons like for divorce and marriage dissolutions, probate work, estate and financial planning, tax appeals, private cash sales, etc. Having a broad and diverse network of referral sources and client base helps to ensure a consistent pipeline should any one source become impacted by an economic slowdown. But how does one expand into any of these new client areas? Here are 6 valuable tips appraisers can do now.

1. Get a Website

It’s important to have a website and to tell a little about your company and the services that you offer. I recommend having some information about your experience and skills, but also some resources that will be helpful to potential clients.

Think of your website as a resource for the public. As an appraiser, you probably know how to create charts and visuals for appraisal reports. Why not create some meaningful charts reflecting housing data in your market area? That will demonstrate to the public that you’re plugged into what’s happening in your market as an appraiser.

A boring website with nothing but a lot of wording, and not much else, may feel exhausting to some visitors. So, have some good visuals that don’t require a lot of reading. When developing your website, try to put yourself in the public’s shoes. What will be of interest to the public? I recommend adding a video, or videos, where you are speaking. I think potential clients appreciate this.

2. Start a Blog

Starting a blog is not difficult. It does require some diligence though. Blogs don’t have to be long. Talk about your experiences as an appraiser or what’s happening in your market. Everyone’s market is different. [asset] prices may be tanking in one market and doing well in another. People want to know what’s happening in their market. As appraisers, we know! Share that information.

You can also talk about what we do as appraisers, and how we perform our work. Most people have no idea. Writing a blog can help you to stand out in your market as an expert. And it can help make us better appraisers. When we have to explain something well, we need to have a good understanding of the subject. Sometimes, we may have to do a little studying before writing on a particular topic. Don’t be intimidated by what you don’t know. Write about what you do know. You would be amazed at how little many know about the appraisal process.

Don’t be afraid to make a mistake in your article. If you’ve been reading my blogs for any length of time, you no doubt have read typos I have made or things I could have conveyed better or more accurately. We’re all imperfect and we all make mistakes. Don’t let fear hold you back from starting a blog if that’s something you would like to try.

There are a number of good blogging platforms you can use. I use WordPress. There is also Wix, Square Space, Site123, Webadore, and Bluehost to name some.

3. Start a Monthly Newsletter

If blogging sounds a little overwhelming, why not try a simple monthly newsletter? Constant Contact is inexpensive and easy to use. That’s what I use. When people receive your monthly newsletter, it reminds them that we are still out there waiting to help others with our valuation services.

When creating a monthly newsletter, share things about the market. Add some personal things, but be careful to not make too much of the newsletter about you. Think of it as another resource that the public can benefit from. HomeLight’s The Walk Through Podcast had an excellent episode entitled “Bad Email is Dead: 5 Mistakes That Make Your Email Newsletter Unreadable”. It’s worth a listen if you are thinking of starting a newsletter.

You’re going to get some followers. Others will drop off. Don’t take it personally. If you’re slowly getting more subscribers than unsubscribes, that’s great! Have fun with it! If you’re losing subscribers or not gaining new ones, try to figure out what the public in your target market area is interested in and make changes to your newsletter as you go along. You’ll find that some things work, while others don’t.

4. Answer your Phone and be Kind

This seems obvious, but I can’t tell you how many times I have answered my phone only to hear the person start by saying how pleased they are that I actually answered. If you can’t answer and don’t have an answering service or an assistant that answers the phone, be quick about returning calls. I’ve also had people say they were happy because I returned their call when many appraisers did not.

I’ve won a good amount of work by just answering my phone or returning calls quickly. It doesn’t get easier than that. Isn’t this just good business practice anyway?

The other thing I recommend is to be kind to people when they are calling to inquire about our services. I’m sure that you are, but some are not. I have had people tell me that they have called some appraisers who were just plain rude to them.

Why is a little kindness and compassion helpful? Think about the times when someone is going to need an appraisal. I mentioned some of them earlier. When someone is buying or selling a home, or when two people are getting a divorce, or when a family member dies and the family is going thru probate. These are some of the most stressful times in a person’s life. Many are very nervous to call the appraiser. They are not sure what they need, other than a value. They don’t know what’s involved. And often, our opinion of value will have an impact on their lives in some way. So, they may already be a little intimidated.

People going thru some of these things need someone they feel comfortable talking to, to walk them thru what they need and what they can expect in terms of the appraisal process. We can maintain our professionalism and still be kind and compassionate. People need a little kindness now more than ever before.

We’re here to help people solve a problem. Help them to know that we want to help them by providing the best customer service and valuation work we can offer as an unbiased third party. Being kind doesn’t mean we are biased. It just means we’re kind, and that can lead to more business and referrals.

5. Offer Services Other Than Just Appraising

When performing an appraisal, there are things we do in the process that people are willing to pay for without having an appraisal completed. For instance, what about taking photos? Have you considered starting a little business taking photos. People may want to hire someone to take photos of personal property items that they would like to document that they possess for insurance purposes.

6. Offer a Lunch and Learn

Another way to become a resource is to offer to go into the offices of banks, attorneys, and [other professionals] to teach others about what we do, or what’s going on in the market, or simply to answer questions people may have about appraisals.

I’ve done a fair amount of these types of meetings over Zoom in the past couple of years, including teaching a CLE (Continuing Legal Education) class to members of a local bar association and banks.

It’s a great way to demonstrate that we are a market expert. More importantly, we educate others on what we do and how we can benefit them with our services. I know that public speaking is not for everyone. But if you give it a try, I think you will like it. Especially if you’re well prepared.

You may be afraid of not having the answer to a question thrown your way. Don’t be afraid! If you don’t know the answer, simply say so and let them know that you will do some research and get back to them. I think that wins the respect of most people, and if it doesn’t, you probably don’t want them as a client anyway. No one can possibly have the answer to every question. But I bet that if you are an appraiser, you’re going to be able to adequately answer most questions people have about what we do.

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