Last Monday, January 6th, marked “Divorce Day,” the unofficial start of divorce season. This time of year sees a noticeable uptick in divorce filings and consultations with family law attorneys. The reasons for this phenomenon are multifaceted: Many individuals use New Year’s resolutions as a chance for a fresh start, addressing unresolved marital issues or pursuing happiness outside of strained relationships. Others delay initiating divorce proceedings to avoid disrupting the holiday season for their families. Year-end financial and tax planning also play a role, as many people wait until January to begin the divorce process. Additionally, the new year serves as a psychological marker for change, motivating individuals to take action on decisions they’ve been contemplating. As an appraiser, understanding these trends can help you prepare for and capitalize on this busy season.
Building a niche in private appraisal work is crucial for growing your business, and divorce appraisals offer a unique opportunity. Over the years, I’ve found this niche to be my specialty, with divorce-related assignments accounting for over 30% of my appraisal work in 2024. These assignments are often needed when one spouse is buying out the other’s share of the marital home, when the home’s value becomes central to settling the case, or when the home was a premarital asset and multiple valuation dates are required. I’m typically hired either before mediation, to help parties reach a settlement, or after mediation, when disputes about the home’s value remain unresolved.
To succeed in the divorce niche, you need to understand the divorce process so you can communicate confidently with family law attorneys. Mastering the nuances of divorce-specific appraisals, including appropriate forms and how to handle assumptions and hypothetical conditions, is essential for ensuring your work is credible and defensible. Be prepared for challenges, such as clients stretching the truth to achieve their desired outcomes, and have a plan for maintaining integrity and professionalism in these situations.
Building strong relationships with family law attorneys is key to success in this niche. Most of my divorce appraisal work comes from attorney referrals. To build similar relationships, network proactively by sending emails, making calls, and scheduling coffee meetings to introduce yourself and your services. Once you’ve established a relationship with one attorney, they’re likely to refer you to others. Additionally, optimize your online presence by advertising divorce appraisal services on your website and leveraging Google to attract clients. When a spouse hires you, it’s also an excellent opportunity to connect with their attorney.
A common concern among appraisers is the possibility of their work being scrutinized in court. However, only a small percentage of divorce appraisals end up in court. Even if it happens, remember that you are the expert—your appraisal knowledge surpasses that of family law attorneys. Preparation is key: be thorough in your work and confident in presenting your findings to excel in court if called to testify.
Appraisers, the busy season for divorce appraisals is here. Embracing this niche is a fantastic way to diversify your business. If you’re looking for guidance, join the Appraisal Referral Network at ReferAppraisals.com. We offer both free and paid memberships to support your growth. Sign up today and receive a free engagement letter template and our “10 Steps to Grow a Non-Lender Business” guide—yours free just for joining. Don’t miss out on these valuable resources to elevate your appraisal business. Visit ReferAppraisals.com now and take the first step toward success. Prepare now and take advantage of the opportunities divorce season brings!