Once you build your appraisal practice to a point where you cannot handle it all, that’s the time to you bring in your associated appraisers, professional colleagues, junior appraisers, interns, and office assistants.
Maybe you can use item counters, photographers, identifiers, or word processors. You get more time to take on more jobs.
This week one of our Inner Circle members had four appraisers on an appraisal engagement all at once. That’s a billable rate of $1,000.00 per hour for his firm. They were on site for three days. Do the math. Not a bad week’s work.
– Focus on building the business
– Line up your associates
– Stop doing $10.00 per hour work. Find an assistant to do the routine and repetitive work
– Make ten calls to existing clients per week.
– Ask how it’s going
– Let them know you are available to help
– Ask for a referral
– Offer ways to help them
– Suggest an update
– Follow-up with a note or with promotional material
Have you offered to help?
Perhaps you are not in a position to retain a crew of associates, just yet. There are appraisers that you know that can use your help. You must offer your services to them. You must promote the benefits of your services to your fellow appraisers.
Ask how you can help. Learn about the jobs that your colleagues are getting and discover how you can help them be more successful.
Here are five ways to build your practice by helping other appraisers.
1) Provide research services. You can provide general research, or specialized research. Your research time in your area of expertise will be more effective than their time, since you know the market in your area of specialty.
2) Be proof reader / report reviewer: Offer to read and edit a colleague’s appraisal report. A second pair of eyes always provides a benefit.
3) Be a gopher for local appraisers. Be the sorter, photographer, measuring dude or dudette. In many estate jobs, appraisers need a second or third skilled person to open drawers, search attics, and rummage through the basement in order to find the good stuff amongst the junk.
4) Be the rebuttal witness. In court cases, your fellow appraiser’s client (usually a lawyer) may need a rebuttal witness i.e.: someone to serve as an expert to challenge the opposing report.
5) Be the methodologist and litigation support consultant for your fellow appraiser’s client. The legal team usually needs a second appraiser to serve as a consultant in appraisal strategy and in finding ways to challenge the opposing appraisers CV. That goes beyond the job of the primary appraiser.
• Call three appraisers you know.
• Ask about their work.
• Ask how you can help.
• Tell them how you can help.
• Offer a discounted, subcontractor rate
• Build relationships