Tips for Making Your Appraisal Business a Step Above the Rest

Managing your own appraisal business is a rewarding endeavor, however, given the predominance of AMCs in the field, growing your clientele base can be difficult without an effective strategy.

Independent commercial appraisers need to do everything they can to ensure that their business operation is fast, efficient, and has a market presence.

Looking for ways to do just that? Here are a few tips you can follow to help your business stand out.

Build Relationships

When it comes to small business operations, socialization is everything. Appraisers often focus on relationships with people within the commercial real estate bubble — brokers, agents, loan officers, companies, developers, etc. — to stay relevant.

If you’re looking for a great way to make professional connections, put your cold-calls on hold and make a point to attend a few industry events and mixers in your area. You could also try your hand in joining a professional organization, like the Appraisal Institute, American Society of Appraisers, or the Urban land Institute.

Take Online Marketing Seriously

Although some may hate to hear it, online marketing has become an incredibly important resource for businesses of all kinds. Investing some time and energy on an online presence can open you up to a whole new audience of potential clients that you may not have been able to access before.

The first step to online visibility is a great website. Your website should host concise, useful information on who you are and the services you offer. A website is also the perfect way to show clients what makes you unique and differentiates you from your competitors.

Supplement your website with informative blog articles that cater to your clientele. Answer questions that people commonly ask, and provide insight on industry topics. If you do these things, not only will others trust you as an authority in your trade, but Google will too — you’ll have more content on the search engine result pages, meaning more potential clients will be directed to your site.

There are several other online marketing strategies. Some fall within the realm of search engine optimization (SEO), like creating guest blogs for established industry publications. Other tactics involve the use of social media platforms like Twitter and Facebook for connecting with professionals in commercial real estate. Those who don’t wish to spend too much time online opt to pay for Google ads. Take some time to learn about what would be the most effective for you and your business. If online marketing isn’t your forte, hire someone who can do the marketing for you.

Upgrade Your Tools

It’s crucial to set yourself up with the best tools possible so that you can handle more assignments as your business grows. Old systems don’t just slow down your operations — they can give way for costly mistakes that could affect your integrity as a commercial appraiser.

Don’t waste your time dealing with old computers and software that takes up heaps of storage space. Advancements in appraisal tools now enable you to do everything you need to from a simple laptop. With apps like Google Maps you can create and view routes to your subject and comparables from a tablet or mobile device; perfect for work out in the field.

If you’re looking for extra storage space, there’s no need to pay for an upgraded or external hard drive. Cloud storage applications like Dropbox offer plenty of storage space, as well as the capability to share documents and collaborate with your colleagues. Dropbox offers 2GB of free space, but you can also purchase up to 3TB of space for only $15 a month.

Cloud-based management platforms like Valcre have a number of useful features that can make your assignments easier, all at a low monthly cost. Appraisers can keep track of their active jobs, create invoices, manage comparables, and more, all on a secure cloud based platform that stays backed up no matter what.

These tips are a sure way to reinvent your appraisal business and win over more clients to add to your roster. If you couple great networking strategies with a strong online presence and straightforward tools, your business will definitely be a force to be reckoned with...so what are you waiting for?

Schedule a demo to learn more!