A lot of appraisers think about business development only when business slows down.
The phone gets quiet. The lender orders dry up. Maybe a longtime client disappears. Suddenly it is time to update LinkedIn, attend a networking event, send a few emails, or call an attorney you have not spoken to in three years.
Then business picks back up and the marketing stops.
That is not really business development. That is panic with a business card.
Real business development is something you do consistently, whether you need work today or not.
What Business Development Means for an Appraiser
Business development is not the same thing as sales.
Sales is getting someone to hire you for an appraisal.
Marketing is helping people discover that you exist.
Business development is the ongoing work of building the relationships, reputation, and visibility that cause people to think of you when an appraisal need comes up.
For an appraiser trying to grow non-lender work, that might mean developing relationships with:
- Attorneys
- Real estate agents
- Accountants and CPAs
- Financial planners
- Estate professionals
- Property managers
- Investors
- Other appraisers
These relationships can produce divorce work, estate appraisals, tax appeal assignments, pre-listing appraisals, litigation work, date-of-death valuations, and plenty of other assignments that never come through an AMC portal.
The important part is that these relationships usually do not develop because you sent one email asking for business.
They develop over time.
Stop Treating Networking Like an Event
One of the ideas emphasized by BNI is that relationship-based business development works best when it becomes a regular practice instead of an occasional sales push.
That applies perfectly to appraisers.
Going to one networking event and collecting 25 business cards probably will not transform your business.
Having lunch with two attorneys, following up with an agent who referred you last month, publishing an article that answers a common client question, and introducing yourself to another appraiser outside your service area might.
Especially if you keep doing it.
Business development compounds.
Someone you meet today may not need an appraiser for six months. An attorney you help with a quick question might not refer anything to you this year, but could eventually become a steady source of assignments.
You cannot always predict which relationship will turn into business.
That is why you keep building them.
Referrals Beat Starting From Zero
Cold marketing has one major disadvantage.
Every time you contact a stranger, you are basically starting from zero.
They do not know you.
They do not know whether you are competent.
They do not know whether you will answer the phone.
They do not know whether referring you to their client will make them look smart or make them regret answering your email.
A referral starts differently.
When someone they already trust says, “Call Dan. He knows what he is doing,” some of that credibility transfers to you before you ever speak with the client.
That does not mean the assignment is automatically yours.
But you are no longer just another random appraiser showing up in a Google search.
That is a much better place to start.
Build Several Business Development Channels
Appraisers should not rely on one source of business.
Your business development efforts might include networking with professionals, publishing useful content, improving your website and Google presence, staying in touch with past clients, doing direct outreach, and developing referral relationships with other appraisers.
Some of those activities may produce work quickly.
Others may take months.
That is okay.
The goal is not necessarily to know exactly which conversation generated which appraisal.
The goal is to create enough relationships and visibility that opportunities continue coming from multiple directions.
Other Appraisers are Referral Partners Too
This is one area appraisers sometimes overlook.
Other appraisers are not automatically your competition.
An appraiser in another county, another state, or even another specialty can be one of your best referral sources.
They may receive assignments outside their coverage area.
They may get requests for property types they do not handle.
They may already be overloaded.
Or they may simply know a client who needs someone in your market.
The same thing happens to you.
Instead of telling that client, “Sorry, I don’t cover that area,” you can refer them to an appraiser you trust.
Now you helped the client, helped another appraiser, and strengthened a professional relationship.
That is business development.
Put Business Development on Your Calendar
The biggest problem with business development is that it is rarely urgent.
There is always another appraisal to finish.
Another inspection to schedule.
Another revision request sitting in the inbox reminding you how much fun lender work can be.
So business development gets pushed to tomorrow.
And tomorrow becomes next month.
Consider setting aside a small amount of time every week specifically for growing your business.
Call one referral partner.
Reconnect with one past client.
Meet someone for coffee.
Write one useful article.
Share something educational on LinkedIn.
Refer an assignment to another appraiser.
Follow up with someone you met recently.
None of these activities needs to take hours.
Consistency matters much more than intensity.
Twenty or thirty minutes every week for a year will probably do far more for your business than one frantic marketing campaign every time the pipeline gets thin.
Build the Network Before You Need It
The worst time to start building referral relationships is when you desperately need assignments.
People can usually tell.
Business development works better when you approach relationships with a longer view.
Help people.
Answer questions.
Make introductions.
Stay visible.
Be useful.
Then, when someone needs an appraiser, there is a much better chance your name comes up.
That is how a referral-based business grows.
Not from one big marketing campaign.
From hundreds of small interactions repeated over time.
Start Building Your Referral Network
The Appraisal Referral Network was created to help appraisers do exactly that: build relationships with other appraisers, increase their visibility, and create more opportunities for non-lender referral work.
You can start with a Free Membership and get listed in the network, or upgrade to an Elite Membership for greater visibility and additional tools to help grow your business.
Join the Appraisal Referral Network at ReferAppraisals.com and start building the referral relationships that can keep producing business long after the first introduction.
