Tips for Marketing Your Appraisal Business in the New Year
The appraisal climate is changing.
The landscape of today’s appraisal business world looks nothing as it did just two years ago.
As the leader of your appraisal company (no matter how big or small) you now face new problems and pressures:
– More competition – most coming from untrained, untested, unqualified people who call themselves appraisers.
– Legislative changes to taxable estates and thresholds for reporting.
– Large firms offering end-to-end solutions for insurance claims.
– A huge increase in the volume of information available to the public and
our prospective clients in the form of online sales sites, live auctions, and huge amounts of auction and sales results.
– Major changes in the way insurance companies handle pre-loss valuations, and coverage of personal property.
– A pressing need to improve profitability, quality, and productivity.
– Some problems may look the same, but the solutions are different — and more difficult.
– Rising costs wipe out productivity gains. Government intervention (or lack of it)
allows untrained competitors to make inroads on market share.
– As the appraisal world changes, you need to look into a potential change in order to thrive – and maybe even to survive.
Old appraisal cultures that have served the profession well for years may require overhauling.
– To boost productivity, you may need new skills (beyond appraisal skills); collaboration with other appraisal teams,
marketing and sales skills, social media expertise, and proposal writing skills.
– Understanding the need for change and how to implement it, is both a skill and an art.
– We must all overcome our fear of change, learn to work smarter – not harder, and
discover how to build our confidence in the new order of things.
– Change cannot be accomplished overnight—but you must start today.
Start With an Appraisal Business Plan
Chart your course
If you plan to change your course, you’d better know where you want to go.
Change is not an end in itself. It must be a means to an end.
It is a path to achieve your major objectives, increase productivity,
improve quality, and generate more sales and higher profits.
You need a path that focuses on real-world results.
Your game plan must deliver increased productivity through better communication on all levels,
higher quality service and better products, more creative solutions, and reduced costs.
In short, you want a game plan that will have measurable bottom-line impact.
Focus on the bottom line
The success of any new direction must be measured against anticipated results.
Keeping your eye on the bottom line means asking some tough questions up front:
– What are the benefits of your new direction?
– How will you apply these new skills?
– How will you measure your results?
End With Results
Measure your results.
You want a program that will increase your cash flow and at the same time improve your workflow.
You cannot afford to waste your time, your money, or your effort.
You must be sure that the path you create does work – because you rarely get a second chance.
Only a superbly planned and professionally executed program can enhance your credibility and achieve the desired change.
Your credibility and the future of your appraisal practice are at stake.
CHALLENGE – What to do next
– Put your feet up. Grab a cup of coffee or tea, and THINK.
– Identify what has changed in the appraisal world over the past few years.
– Determine if your current path needs to change, and if so, how.
– Create the plan and make it happen.
Need ideas? Give me call or drop me an email.
Lots more info and ideas at: Inner_Circle_Appraiser
Stay well & happy!