What are some ways appraisers can generate new business and new leads, outside of AMCs? How do the top appraisers market themselves? We interviewed three leaders in the appraisal profession to find out. Plus, we surveyed our larger appraisal community for additional tips and insights.
Keep reading to learn the most effective marketing strategies according to experts and seasoned appraisers, as well as techniques to get your name out there and make yourself more marketable.
Ready to launch your appraisal business or formalize and scale your operations? Set yourself up for success with McKissock’s new Appraisal Business Builder course.
Top Strategies to Generate New Appraisal Business
Leaders in the profession agree that having an online presence is essential. So is a network of contacts in all areas of the real estate industry, not just the lending community. The basic idea most in play, nowadays, is that your appraisal skills may have applications in areas you hadn’t thought of.
Add Some Non-Lender Work into the Mix
Britton Falkner, manager and chief appraiser at Joseph & Co. (Hoover, Alabama), acknowledges that it’s getting harder for appraisers to generate new business, largely because of the power that AMCs wield. Loan officers are sometimes reluctant to work with appraisers independently of an AMC, so appraisers have become more likely to offer their services to other professionals, such as attorneys and accountants, who might need an appraisal for purposes other than a home loan.
“We try to do as much for those outside sources as possible,” he says. “The MLS for the Birmingham, Alabama area has made a push to get accurate square footages for its listings, so we work with brokerages, offering to go into buildings and obtain accurate measurements at a relatively low rate. Money-wise, it’s not as much as an appraisal, but it’s steady work; it doesn’t take long; it helps us build relationships with realtors. It also speeds up the process of calling realtors and getting comps.
“The biggest part of our business still is working with lenders, so we still make the effort to meet lenders and accountants. Maybe twice a year, we go out and pound the pavement; we don’t want to be too overbearing about it.”
Put Out a Monthly Newsletter
“Most appraisers are older folks, so they’re not as plugged into the social media side of things as they might be, nor as willing to make changes,” says Falkner. “When I started working here, the only marketing was door to door; I’ve tried to manage our Facebook and LinkedIn accounts. We’ve also started a monthly newsletter that has got pretty good reception.”
The newsletter, Falkner says, reports on recent transactions in the Birmingham area, as well as zoning changes and other useful information. It’s a cheap, easy, steady way to reach out to clients, and since the newsletter comes out monthly, it forces the company to pay a little attention to marketing on a regular basis, as opposed to neglecting that part of the business when appraisal work is heavy.
“It shows up in people’s mailboxes regularly, so it helps to prevent a ‘feast or famine’ situation,” he says. “It costs us almost nothing. Our articles tend to be about commercial real estate, but we add items that are personal to us, about how we do our work. We may have clients who only need an appraisal every year or two, but at least we stay in their minds with that newsletter, so they think of us when they need an appraiser.”
The newsletter is Joseph & Co.’s chief marketing tool today, Falkner says. Door-to-door marketing is falling by the wayside, and daily posts on social media don’t seem to get much attention.
Build New Relationships
Jaime Patteson, research specialist at Tulsa, Oklahoma-based Stan Johnson Company, notes that traditionally, appraisers generate new business by developing relationships with brokers and sales agents, mortgage brokers, loan officers, title companies, and developers, and by staying relevant within the real estate industry by attending and joining professional organizations. These might include the Mortgage Banking Association, Appraisal Institute, NAIOP / Commercial Real Estate Development Association; MLS, CCIM, SIOR, and CREW.
“Build new relationships from existing client referrals,” she urges. “The old real estate principle is that the three secrets of success are ‘location, location, and location.’ When building business, it’s ‘relationship, relationship, and relationship.’
“Some of the most successful appraisers I know create opportunities to be seen and heard within the industry. They offer services that include solid real estate valuations, in addition to other services like consulting on portfolio valuation assets for lenders, REITS, and other parties. They speak in public, addressing organizations or real estate schools. They testify in legal cases and stay current with industry-related technology as well as the economic factors that impact real estate markets.”
Another way appraisers can generate new business is by offering consulting services to real estate law firms, Patteson says. In that arena, appraisers with MAI or CCIM designations will probably be preferred.
Leverage Online Marketing Tools
“Other useful marketing tools include social media, blogging, online industry publications—published interviews and articles—and a strong website,” Patteson adds. “I believe that offering relatable market statistics, or discussing changes in the industry, as part of the website, can lead to new business.”
“The most important thing an appraiser can do to generate new business outside of AMCs is to have an online presence,” insists Gary F. Kristensen, SRA, ASA, IFA, AGA, appraiser at A Quality Appraisal (Clackamas, Oregon). “That starts with a company website and social media pages that highlight your skills and experience. If you don’t know anything about Search Engine Optimization (SEO), learn or hire someone who does. SEO takes time but pays back for years and years. If you don’t have time for SEO, you can purchase Google ads. If customers can’t find you when they’re searching for an appraiser in your area, you will not get the job.
“In addition to having an online presence, it is important to make connections with real estate agents and attorneys. I often speak at real estate offices and try to maintain connections through direct email marketing of those who I have met in the past. Hard work and persistence work for marketing your business. Building a steady flow of non-lender business does not happen overnight.”
Diversify Your Client List
“Finally, don’t put all your appraisal eggs in one basket,” urges Patteson. “Getting hooked on one or two large clients can lead to a sudden drop in workflow, particularly if economic conditions turn in the direction that is not favorable for a large REIT or lender. These entities can be fickle in tough economic times. Don’t get me wrong: a client base anchored by a large lender or REIT is good business. But keeping your client list diversified within your core strengths seems like a more productive path.”
Appraiser Survey: Which Strategy is the Most Effective?
While all the tactics described above are worth exploring, you may be wondering where to begin or where to focus your efforts. To help you out, we surveyed our community of real estate appraisers to find out, “What’s the BEST strategy to bring in new appraisal business?” Here’s what they said:
Here’s a quick summary of the top three ways to generate new appraisal business, followed by comments and advice shared by our survey participants:
- Build new relationships
- Diversify your client list
- Leverage online marketing tools
“Building relationships with new lenders, attorneys, and business groups gives your business new exposure.”
“Join your local Professional Advocacy Groups.”
“Be ready to take on all types of assignments; many jobs are very unique but challenging, and you learn.”
“Focus on work not related to the lending industry.”
“Niche appraisal. I am looking at estate appraisal, divorce appraisal, and review work.”
“We have been in the appraisal business since 1992, and we have grown it year after year. When people know you and your quality of product delivery, it’s easy to get referrals and sign up new clients. Plus, we are big supporters of our local Chamber of Commerce.”
“I’ve spent a long time developing relationships with local real estate agents. I’m an affiliate for the two major realtor associations in my primary markets. I speak occasionally and offer to answer any questions. This engagement powers referrals, the source of most of my private-party business.”
“There is nothing like a face-to-face meeting to help launch yourself when you expand your appraisal business. And when you broaden the types of appraisals you do, you must get the word out there that you are taking on these different assignments. There is so much work as an appraiser in other areas aside from the lending business. My answer is two-fold: broaden the types of appraisal assignments you do and get out there and tell people.”
“In residential appraisal, your reputation is everything—and reputation is built on relationships. Strong connections with other appraisers, real estate agents, local lenders, mediators, and attorneys create a steady stream of referrals that fuel sustainable growth. When clients trust your expertise, communication, and reliability, they become your best advocates, recommending you time and again. Unlike one-time transactions, lasting professional relationships provide consistent work, smoother transactions, and a competitive edge in your market. Invest in the people you work with, leverage technology, deliver exceptional service every time, and watch your business grow through the most powerful marketing tool available: word of mouth.”
“Working to bring in new appraisal business has certainly changed. In the past, personal connections such as stopping by and visiting with lenders and Realtors were important. In today’s world, where AMCs order most appraisals and many Realtors do not regularly spend time in a central office, that strategy doesn’t really work. Quite a bit of my new work comes from having a website. Building relationships with local Realtors and attorneys, either online or in person when possible, can also lead to new work.”
“All of the options listed are great; however, getting started means we need to have relationships with members in the real estate industry. From there, networks begin and then marketing tools are brought in to expand the network, which can then showcase our work.”
20 Ideas to Get Your Name Out There as an Appraiser
Ready to get out there and build those relationships? As a supplement to the advice above, here’s a quick list of 20 simple ways to promote your appraisal business:
- Get out and talk with people.
- Go to networking events.
- Attend real estate meetings.
- Join professional groups in your local area.
- Get onto approved appraiser rosters (lender, AMC, FHA, VA).
- Volunteer in your community.
- Send out direct mailers.
- Start a monthly email newsletter.
- Establish an online presence via website and social media.
- Start a blog and write about topics that your clients (or future clients) would find useful.
- Contribute articles to an established real estate or appraisal blog.
- Be a guest on a popular appraisal podcast.
- Update your LinkedIn profile.
- Connect with local professionals in related industries on LinkedIn and other social media platforms.
- Join Facebook groups for appraisers and participate in group discussions.
- Join and participate in online forums (e.g., National Appraisers Forum).
- Create promotional or educational video content to post on YouTube or send out to your current clients via email.
- Advertise on sites like Zillow and Realtor.com.
- Reach out to past clients. Ask them if they’d be willing to provide referrals or testimonials.
- Reach out to colleagues in the appraisal industry. Let them know you’re seeking assignments in a certain appraisal niche (e.g., luxury appraisals, green home appraisals, divorce and estate work, expert witness assignments).
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