Prospecting for new leads is a way of life in the real estate business. Appraisers, agents, and brokers live and die based on customer referrals. The most successful real estate professionals generate leads from their personal and professional networks, ensuring a full sales pipeline without spending a fortune on marketing. Here’s how to get referrals for your appraisal business.
Respond to professional requests promptly
The homebuying process can be overwhelming at times, even to seasoned professionals. Often an entire real estate transaction will depend upon your report. Without an appraisal report, financing may stall, buyers may back out, and a whole host of other issues may arise. When dealing with homeowners, agents, brokers, title officers, and other real estate professionals, do your best to facilitate transactions quickly and efficiently. Being a consummate professional will bolster your reputation and lead to referrals.
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Go to networking events and conferences
Most cities and towns throughout the United States offer real estate networking events where agents, title officers, appraisers, and other RE professionals meet to discuss developments in the market as well as get to know each other. These are excellent places to meet people who could potentially send you appraisal work.
Brand your appraisal practice
Make it easier for customers to send you referrals by developing a brand that they will remember. For example, instead of John Smith, Residential Appraiser, you might be “AppraisalMasters LLC” or “The Appraisal King.” Instead of having to look up your name and details to refer you, they can drop your brand name. Make sure you have an online presence so that prospects can easily look you up online.
Offer referral incentives
You can incentivize referrals by rewarding clients who send you business. Offer a bonus like a gift card when clients send new customers your way. You can also run a raffle or contest where every referral gives the entrant a chance to win a prize.
Demonstrate expertise in your field
Opening yourself up to appraisal-related questions from current and potential clients can help you generate referrals. Prospective and current homeowners may have questions about how you reach valuations, neighborhood factors, landscaping effects, etc. You can bet when that client or someone they know needs an appraiser down the line they will give you a call.
Don’t be afraid to ask satisfied clients for referrals
Your best source of referral leads is your current and past client base. Many homeowners are happy to pass on your information to friends and family when they require appraisal services. Many appraisers feel they are being “pushy” or too forward when asking. Put these concerns out of your mind. If you have performed your duties well and treated your clients with the respect they deserve, there is a very high chance they will pass your name on to others.
For more ideas on how to get referrals and market your appraisal business, check out our article: Top Appraisers Advise on How to Generate New Business.