Real property appraisal is a service-based business. And when you’re an independent appraiser growing your business, you need good strategies to get referrals for appraisal work.
Fortunately, referral marketing in independent appraisal is a lot like referral marketing in other service-based careers! All you need is a little discipline to keep at it and find what works for your business.
Read on to learn tried-and-true strategies proven to drive new appraisal business straight to you.
Developing Your Referral Game as a Real Estate Appraiser
If you’re an independent, fee-based appraiser, a large portion of your appraisal work will likely come from referrals. Referrals are essentially personal recommendations one client in your network gives to someone they know who needs the services you offer.
Here’s an example.
During a family’s probate process, you’re hired to prepare an appraisal report for a home that’s part of the estate. You do a great job, and now the family has the information they need to understand the total value of their loved one’s assets.
A few months later, a friend of your previous client is going through a similar probate process. Because of your great service, the family recommends you to their friend as an excellent appraiser to hire. That’s a referral – and a golden one if we say so.
But not all referrals will happen as effortlessly as this example. In many cases, you'll need to help the process along with some strategies. And these tricks are easier than you think, especially when you are already providing supreme service.
Great Service + Happy Clients = Great Referrals
Before you get busy working on appraisal marketing strategies, there is one underlying element that fuels appraisal referrals. Great service!
Great appraisal service includes:
- Efficient turnaround time
- A well-researched and documented valuation
- An accurate appraisal report delivered on time
- Compliance with the USPAP (Uniform Standards of Professional Appraisal Practice) if the assignment requires it
- Responsiveness with the client
- Availability to answer your client’s questions before, during, and after the appraisal
Do all the above and you’ve likely got a happy client. Happy clients are the drivers of good referrals.
3 Strategies to Get Appraisal Referrals
Here are three proven strategies you can use to generate referrals and get hired as an appraiser. All three work whether you’re a new appraiser launching your business or a seasoned appraiser navigating a slowdown of business.
- Ask for Referrals
- Network and Make Contacts
- Generate Leads
Strategy #1: Ask For Appraisal Referrals
Sometimes finding new appraisal clients is as easy as asking for them! It doesn’t have to feel strange either. You can ask for them – naturally – at the end of every appraisal. Here’s how.
Once you’ve completed the client’s appraisal and delivered your report, make a habit of asking your client for feedback. If it was a good experience (and it probably was!), go a step further and ask your client to recommend you to anyone in their network who might need a trusted appraiser.
You can get fancy and send them an email about your services that they can forward to their friends. But bottom line: Just ask! This simple act makes it more likely that your happy client will drop your name as a recommendation in their circles.
Strategy #2: Network in the Appraisal Industry
Networking in the appraisal business is a lot like networking in service-oriented fields. You never know who might need a good appraiser. Start by letting contacts in your own personal and professional spheres know about your services. Then, branch out your network using these tips.
Join Appraiser Associations
Join an appraiser association – such as the National Association of Appraisers, the International Society of Appraisers, or the Appraiser Association of America. Become active in the association and attend events. You’ll have the opportunity to meet other appraisers and get to know them personally. The appraiser contacts you make may translate into referred business down the road.
For instance, an appraiser colleague might be overloaded with work and need a trusted appraiser to take an order off their hands. Or maybe you specialize in an appraisal niche. Another appraiser can refer an assignment to you when it's out of their scope of work.
Appraiser associations typically maintain appraiser directories that are searchable by the public and by other appraisers. You can get listed in these directories as part of your membership and create an easy referral source. While you’re at it, make sure your information is correct in your state appraisal board’s appraiser registry and on the Appraisal Subcommittee National Registry.
Join Relevant Real Estate Groups
As an appraiser, you can join the National Association of REALTORS® (NAR) as well as your local real estate board(s). Joining these associations gives you direct access to local and national real estate events, conferences, and meetings where you can connect with:
- Real estate agents
- Real estate brokers
- Home inspectors
- Mortgage loan officers
- Real estate attorneys
...and other real estate professionals who have clients who may need appraisals.
You might also consider joining your local Chamber of Commerce and Rotary International Club for general networking opportunities.
Make Local Real Estate Contacts
Make calls, send emails, and set up meet-and-greets with local players in the real estate industry. These people might include real estate agents, brokers, mortgage professionals, private banks/lenders, real estate attorneys, estate lawyers, and divorce attorneys.
These professionals work with clients who may need appraisals as part of their negotiations, and they’re more willing to recommend someone they know personally.
Here are a few other ideas to get your foot in the door:
- Share Your Knowledge. Offer a real property appraisal "lunch-and-learn" at local real estate brokerages. These sessions can help agents learn first-hand how the appraisal process works to help better guide and serve their clients.
- Visit Open Houses. Visit open houses held by real estate agents and introduce yourself. You can also offer to sponsor open houses for agents to help get higher visibility for your name and business.
Strategy #3: Generate Leads For Your Appraisal Business
Lead generation refers to activities you do to try and attract new clients to your business. Just as with networking, there are many ways to generate leads that translate into appraisal orders. Plus, they don’t always have to involve making hours of cold calls. There are more subtle ways to generate leads these days.
Create a Website
If you do one thing, create a website for your business and optimize it for search engines. Many people searching for an independent appraiser will start their search on the web. Be sure to create and maintain an online presence so you can be found.
Maintain a Google Business Listing
Create a Google Business Listing and advertise your appraisal services with no cost to you. Keep it updated with your contact info, website, and location. You might even share updates about your work. Another idea? Ask happy clients to review your services on Google. You can generate a unique link you can use to ask for a client testimonial.
Use Social Media
All kinds of businesses have a social media presence these days. Why not yours? For example, you can share info about your services on LinkedIn, give followers a peek into your daily work on Instagram, and develop your own personal brand as a real estate appraiser using Facebook. Local followers who are familiar with you will be more likely to reach out when they need a trusted appraiser.
Develop and Grow an Email List
Start an email list and send regular updates about your business and services. Start by adding contacts in your personal and professional circles, your past clients, and your existing clients. Consider creating a newsletter and sending it periodically. You can share what’s happening in the appraisal world locally and nationally and what it means for your local clientele. As you develop a readership, you'll likely develop your client base.
Send Snail Mail
Thoughtful cards and correspondence don’t have to feel old-fashioned. In fact, they stand out in our digitally led climate. Try sending holiday or seasonal cards to your contacts with a subtle reminder about your services. This helps keep your name top of mind.
Phone Calls Still Work
Even after doing the above, you can still hop on the phone and make periodic calls to your contacts. Many people would probably appreciate hearing a human voice and the chance to catch up.
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Once you’re a licensed appraiser, there are so many ways to launch a successful real property appraisal business. It all starts with the right education. The CE Shop is now launching appraisers! Complete your Qualifying Education, USPAP, and Continuing Education with our industry-leading courses and expert instructors. Find your state courses and enroll today!
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