Generating More Appraisal Work for Real Estate Appraisers

Generating More Appraisal Work for Real Estate Appraisers

In tough economic times, appraisers are seeking how to generate more income not only to save their businesses, but also to re-establish a lifestyle that has been lost in the last couple of years. This article will cover ways in which an appraiser can generate more appraisal business starting immediately.

Real estate appraisers do have the ability to generate more jobs for their business in today's market, but the days of waiting by the phone for jobs to pour in are over. It takes effort to solicit more work and have it coming in consistently.

There are three main ways to generate business:

Appraisal Management Companies

Since the changes that occurred with the advent of the HVCC rulings, appraisers have been forced to sign up with appraisal management companies in order to receive work for any federally funded loans. That covers over 60% of all appraisals being done today. Because of the huge amount of business these appraisal management companies can generate, this is the best way to generate business for the desperate appraiser.

Independent Banks

Loans that are not federally funded do not fall under the guidelines of the HVCC. This means that you can solicit work from your local banks that fund their own loans. A quick phone call to local banks will answer this question and can bring in a significant amount of work, depending on the size of the bank and how much they loan annually.

Estate Purposes

As much as twenty percent of your work can be obtained through personal estate appraisals. These can be obtained through attorney and accountants that require appraisals for estate purposes, such as divorces or family deaths.

How to Contact Companies

The best way to contact companies is to go in person and speak to the person in charge of ordering appraisals. Make an appointment, if necessary, and introduce yourself. It is often necessary to ask them to give you "a chance to prove yourself" or even offer a discount for the first order they place with you.

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