For appraisers working in private, non-lender assignments, expert witness work can be a rewarding yet challenging path. Recently, I had the opportunity to testify as an expert witness, and I wanted to share insights on the process, preparation, and key takeaways for those who may find themselves on the witness stand.
Setting the Stage:
A strong engagement letter is essential for setting expectations. In my letter, I outline specifics such as appraisal fees, expert testimony rates, travel expenses, and any other service-related charges. In a recent case, the assignment required multiple appraisals for a single property, including its current value, value at the date of marriage, and the value as of inheritance. My rate for court-related work was $X/hour with a $X retainer for the first four hours.
Tip: Avoid overpreparation until trial dates are confirmed and retainers are paid. Trials can be postponed, so wait to finalize preparations to avoid unnecessary work.
What to Bring to Court
Attorneys often have specific preferences. Here’s what I typically bring:
– Appraisal report (plus additional copies if requested)
– My CV
– Basic property documents (like tax records or sketches)
– An observation checklist for reference
It’s best to keep things simple. Unless requested, I leave the complete work file at home to avoid overwhelming details.
Representing Your Expertise in the Courtroom
Arriving early on the trial day is crucial to find the attorney and client, pass through security, and review any final questions. I recommend professional attire (I usually wear a suit and tie), along with a name badge to make your company visible. This can lead to valuable networking opportunities—I connected with a future client through a hallway conversation with an attorney.
Once in the courtroom, you’ll take an oath and present your credentials before introducing your report. The client’s attorney will likely start by qualifying you as an expert witness, though this can vary. In my case, the opposing counsel stipulated my qualifications after reviewing my CV, which streamlined the process.
Tips for Testifying with Confidence
As the appraisal authority in the room, keeping explanations clear and concise is key. Here’s what works:
– Stay concise: Answer only what is asked, pausing for any objections.
– Explain simply: Be ready to outline your process, from defining the problem to data analysis and valuation approaches.
– Stay objective: Stick to facts, regardless of any guiding questions from attorneys.
Maximizing Networking Opportunities
Court appearances are also great for networking. During downtime, attorneys may inquire about your expertise, which can lead to future referrals. Though my actual time on the stand was only about 20 minutes in this case, the full day with drive and waiting time totaled over five hours—underscoring the importance of setting competitive rates.
Final Thoughts
Expert witness work can be both lucrative and professionally rewarding, but it requires a firm grasp of courtroom protocol and preparation. If private work is part of your journey, expert witness testimony may be as well—so be ready!
For more on building your private appraisal business and earning additional income, join the Appraisal Referral Network at ReferAppraisals.com
Thanks for reading, and feel free to reach out with questions!
Dan Lindeman
Appraisal Referral Network
