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This article was written in the early
1990s.
I regularly write about appraisal business marketing issues
in my paid Appraisal Today monthly newsletter.
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59 Ways to Market Your
Appraisal Services
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tips? For info on our other FREE articles, marketing books and tapes, go to the Marketing
books and audiotapes Page.
This article was previously published in Appraisal
Today and was written by Ann O'Rourke. It is copyrighted.
For reprint permission, Contact Us.
For more business management tips,
go to Business Management Tips for
Appraisers.
1. Brainstorm and put what makes your company different from
all your competitors into one sentence. To make it in today's market you must have a
clear, client-oriented message.
2. Leverage your time and resources by spending the most time on what has the greatest
payoff. Don't waste time on non-productive marketing activities.
3. Workshops and seminars on marketing for service businesses are good sources of new
ideas and inspirations. Take one that applies to your needs.
4. Write separate brochures, letters, or other marketing materials for every market, and,
if necessary, for different clients. Tailor your message to the recipient.
5. Make a commitment to set aside time each week for marketing, even when you're very
busy.
6. Small mailings with follow-up works. Mass mailings are seldom effective as the
personalized smaller mailing. Target your mailings to your best prospects.
7. Cold calls are difficult to do well. Instead, "warm call" by sending out an
introductory letter or brochure and following up.
8. When speaking before a group, be sure to hand out written materials, including of
course, brief information about your company, including your phone number.
9. Use wasted TV time to write personal notes to clients or prospects. Include a copy of
an item they might be interested in.
10. Always ask for the assignment. Many professionals have difficulty with this. Practice,
if necessary.
11. Develop a comfortable and professional way to ask for referrals. Let potential
referral sources know what you do.
12. Don't beg for business. It just makes the prospect uncomfortable. Practice how to
phrase your request.
13. When networking at a meeting, don't just stand around talking with people you know who
aren't good sources of referrals or assignments. Ask the person in charge to point out,
for example, real estate attorneys or loan officers.
14. When writing a sales letter, include a p.s. that grabs the readers attention. For
example, "We can do your evaluations. Call us."
15. When selling your services, let the prospect talk. Try to find out what they're
looking for. Let them feel as though you care about what they think.
16. Practice your presentations with a video camera to improve your physical presence,
voice, gestures, etc.
17. If you're new to personal selling over the phone, practice standard phrases, using a
tape recorder to record and playback.
18. Always, always, always promptly return phone calls, no matter who is calling. If you
don't really want to talk with the person, return the calls during lunch or after business
hours, and leave a message on voice mail.
19. Respond to letters as soon as possible. If you don't have time for a full reply, send
a brief note acknowledging the letter, saying you will respond more fully by a certain
date.
20. Don't knock your competition. It doesn't make a good impression.
21. Go to a good local business library and "wander around" for a half day,
looking at publications, newspapers, directories, books, etc. to give you new marketing
ideas.
22. Make your Yellow Page ad reflect the market you're interested in to screen out all the
wasted-time calls (for example, only commercial or only residential). Don't run a
"generic" appraiser ad. If you're not listed now, get listed. It's cheap
advertising for non-lender work.
23. Set up a system for following up on prospects or referral sources you haven't
contacted recently. For example, use a card file separated by months. Each month, you call
whoever is in that section. Just call to say hello and give them some information they
might be interested in.
24. Focus on the client, not your company. Let the client know how you can make his or her
job easier. The client wants to know "What's In It For Me."
25. Immediately acknowledge receipt of a referral, preferably in writing, or at least a
phone call. Then you'll be more likely to get another one. Lunch is a possibility.
26. After meeting a possible referral source or prospect at a mixer or meeting, promptly
send a personal letter or note to the person. Refer to something in your conversation
(take notes on their business card so you don't forget).
27. Don't take work from "clients from hell" that make your life miserable.
Instead, work on developing new clients. Turn down the assignment, referring the prospect
to someone else.
28. When business is slow, take on assignments in new areas that were too time consuming
before, such as rural/suburban or distressed properties for residential, or types of
commercial properties you haven't ever appraised. Get assistance, if necessary, of course.
29. Add material to your invoices to make them mini-advertisements, such as "Call us
for your evaluations," or "We always meet deadlines."
30. Design and print different business cards for different markets, with the image and
messages you want to convey.
31. Personally deliver your appraisals; one of the best indirect marketing methods we know
for appraisers. While you're there, maybe you'll get an assignment, or at least they'll
remember you for the next assignment.
32. Always dress appropriately when doing an inspection or client call. It's always better
to overdress than to underdress. Business casual is often okay, but don't ever dress too
casually, such as a t-shirt and jeans. It signifies a very unprofessional impression. This
also applies to any associates or subcontractors.
33. Always, always be polite during an inspection, no matter who is there (tenant,
secretary, relative, etc.). You never know who they know, and what impact they may have on
your future business.
34. Being rude on the phone is unacceptable. If you feel like you're losing it, just say
"I can't hear you. I think there's something wrong with the phone." Call back
when you've calmed down. Or, have someone else call back.
35. Develop a phone etiquette class for your staff and yourself. Ask your phone company
for information. Or, send one person to a seminar and have that person help everyone else.
36. Get sales training. It pays off, if only by making you more comfortable when doing
personal selling. Or, get a book on techniques for selling services. One book is Selling
Your Services by Robert Bly. Selling services is very different from selling products.
37. Use testimonials in your marketing materials. They can be very effective, and only
require getting permission from the person quoted.
38. Offer to do inspections during extended business hours, such as evenings and weekends,
particularly for residential work during slack income periods.
39. Take credit cards for CODs and private individuals. This could be a way for them to
finance their appraisal. Talk with your bank about setting up a merchant account.
40. Get an 800 number. You'll be surprised how cheap they are. Put the number on all your
promotional and advertising material.
41. Give free or low cost seminars or workshops to prospective clients or referral
sources. If it's for real estate agents or professionals such as attorneys, get approval
for continuing education credit.
42. Rent a booth at a trade show where prospects are likely to be present, either as
exhibitors or attendees, for example a lender convention or home show. The networking
opportunities are excellent. You'll probably be the only appraiser.
43. In your established market niche, spend most of your marketing efforts on the 80%
(your current clients or previous clients), and 20% on new clients. Most of your business
will come from your current clients.
44. Decide who you want and go after them. Don't try to get every possible client. Don't
get sidetracked and waste time with "tire-kickers" or the aforementioned
"clients from hell."
45. Talk with your contact person at your current clients and ask them what other
department in their organization needs appraisals.
46. Think of yourself as a real estate professional, not just a real estate appraiser.
What non-appraisal services could you provide? Be creative. Some are: property management,
teaching, writing, leasing broker representing the tenant, property inspections,
environmental inspections, tax consulting, alternative uses for a property, etc.
47. When bidding for an assignment, if you don't get the bid, always call back and see how
your bid was in relation to the others. Even if you do get the bid, check out the other
bids.
48. Every time someone calls about a possible assignment and you don't hear back from
them, call back after a week or so to see what has happened. They may have lost your phone
number.
49. Set up a systematic method for following up on contacts with current and new clients.
You can use a manual system, such as writing it on your calendar or tickler file, or use a
contact management software program. It's a waste of time to prospect if you don't follow
up.
50. Train your office staff and appraisers in basic phone sales techniques. For example,
ask for the order, when appropriate. They only have a few minutes, if that long, to make a
good sales presentation.
51. If you're having a problem reaching a client or prospect, fax a message. Faxes are
usually read.
52. Get on bid lists for city, state, and county government agencies. Take the time to
learn how to write a proposal or fill out the forms.
53. To break into a new market, offer to take your first assignment for a greatly reduced
fee, for example government and legal work. You can always find someone who is price
sensitive.
54. Turn your phone hold time into an infomercial. Write a interesting and snappy ad and
have it professionally recorded, or record it yourself for a more personal touch. Ask your
phone company for information.
55. Become active and visible in your appraisal association. Appraisers do give referrals,
and some of your best clients are probably appraisers.
56. Join your local chamber of commerce or service club such as Rotary. They are excellent
sources of regular business, so say appraisers who are long-term members.
57. Send letters to the editors of local newspapers and trade periodicals. It's a
no-hassle way to get your name in print.
58. Along with sending out a press release, always include a photo. It will greatly
increase your chances of getting in print. Get professional photos made. It's worth the
cost.
59. Write a bimonthly or quarterly newsletter; two pages is okay. Then you'll have
something to send to all your clients and prospects. Don't forget the press if there is
some news material.
Want more marketing ideas and tips? To order our
marketing books or audiotapes, go to the Our Products page.
Previously published in Appraisal Today.
Written by Ann O'Rourke.
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