If someone asks what you do for a living, what do you say?
A lot of appraisers default to something like:
“I’m a real estate appraiser.”
Technically correct.
Also not very memorable.
If you are trying to grow a non-lender appraisal business, you need a better answer. You should be able to explain what you do, who you help, and what kinds of problems you solve in about 30 seconds.
That is your elevator pitch.
And no, you do not need to sound like you are auditioning for Shark Tank.
You just need to make it easy for someone to understand what you do and, more importantly, when they should refer business to you.
Your Elevator Pitch Is a Referral Tool
I recently read an article by Isabel Isidro on PowerHomeBiz titled “How to Build Your Elevator Pitch.” One of the main points is that a strong elevator pitch should quickly explain what your business does, who it helps, and why it matters.
The article also makes an important distinction: the purpose of an elevator pitch is not to close the sale. It is to make your business easy to understand, create enough interest for the other person to ask another question, and naturally continue the conversation.
That applies perfectly to appraisers trying to build non-lender work.
Your 30-second pitch is not supposed to explain every appraisal service you provide.
It is supposed to give people enough information to remember you when an appraisal need comes up later.
“I’m an Appraiser” Is Not Enough
If you tell someone you are a real estate appraiser, what do you think they picture?
Probably a mortgage appraisal.
A bank.
Maybe someone walking around a house with a clipboard.
That is the problem.
Attorneys, CPAs, financial planners, real estate agents, and other referral partners may have no idea that you handle divorce cases, estate valuations, tax appeals, litigation, pre-listing work, retrospective appraisals, or other private assignments.
You have to tell them.
My own elevator pitch might sound something like this:
“I own a real estate appraisal company providing residential and commercial appraisal services. A large part of our business is helping divorce attorneys with appraisals for dissolution of marriage cases, estate attorneys who need date-of-death valuations, and real estate agents who need help pricing unusual or difficult properties.”
Now the person listening has several referral triggers.
Divorce attorney.
Estate attorney.
Date-of-death appraisal.
Real estate agent.
Difficult property.
That gives them something to remember.
“I’m an appraiser” does not.
Start With Who You Help
The PowerHomeBiz article breaks a strong elevator pitch into several basic parts: who you help, the problem you solve, what you do, why your approach matters, and what happens next.
For appraisers, I would simplify that even further.
Ask yourself three questions:
Who do I want referring business to me?
What appraisal problems do I solve for them?
What do I want them to remember about my practice?
If you primarily want attorney work, say so.
For example:
“I specialize in non-lender appraisal work and primarily help attorneys with divorce, estate, and litigation-related real estate valuations.”
If you want more estate assignments:
“I work with estate attorneys, CPAs, and families who need retrospective appraisals, including date-of-death valuations.”
If you are trying to build relationships with real estate agents:
“I help real estate agents and homeowners with pre-listing appraisals and properties that are difficult to price using a traditional CMA.”
Each one tells the listener something useful.
More importantly, each one gives the listener a reason to think of you later.
Give People Referral Triggers
This may be the most important part of the entire elevator pitch.
People need triggers.
You want an attorney to hear the words “date of death” six months from now and think of you.
You want a Realtor sitting at a listing appointment with a difficult property to remember, “I know an appraiser who does pre-listing work.”
You want a divorce attorney dealing with two competing opinions of value to immediately know who to call.
That is why being specific matters.
The PowerHomeBiz article makes the point that referral partners need to understand who your ideal customer is and how to recognize a good fit.
Exactly.
A referral partner cannot send you the right business if they do not know what the right business looks like.
Do Not Try to List Everything You Do
Appraisers tend to have a lot of services.
So the temptation is to say:
“I do residential, commercial, divorce, estates, tax appeals, bankruptcy, litigation, pre-listing, PMI removal, insurance claims, retrospective appraisals, relocation work…”
At some point, the person listening is going to start looking for an escape route.
Or the appetizers.
You do not need to explain your entire website in 30 seconds.
The PowerHomeBiz article stresses that the purpose of the pitch is to open the conversation, not explain the entire business.
Pick the two or three areas you most want to grow.
If someone is interested, they will ask another question.
That is exactly what you want.
Tailor the Pitch to the Person Standing in Front of You
You also do not need one elevator pitch that you repeat word for word every time.
In fact, you probably should not.
If you are talking to a divorce attorney, talk about divorce appraisal work.
If you are at a Realtor networking event, talk about pre-listing assignments and difficult-to-price properties.
If you are speaking with CPAs or estate attorneys, emphasize date-of-death and retrospective appraisal work.
Your basic message stays the same, but you change the emphasis.
That matches another recommendation from the PowerHomeBiz article: tailor the pitch to your audience.
A potential client is listening for one thing.
A referral partner is listening for something else.
For appraisers, that means your pitch should help the person in front of you quickly understand where you fit into their world.
Use Plain English
There is another good takeaway from the article that appraisers should pay attention to: use plain language.
We work in a profession that loves terminology.
Retrospective effective date.
Hypothetical condition.
Extraordinary assumption.
Intended use.
Intended user.
All perfectly legitimate appraisal terminology.
Not necessarily what you want to lead with at a Chamber of Commerce lunch.
Your elevator pitch should sound like something a normal person understands.
“I help families and estate attorneys determine what a property was worth when someone passed away.”
That may be much more useful in a casual conversation than launching into an explanation of retrospective appraisal methodology.
You can save that discussion for later.
Preferably after they hire you.
Practice It, But Do Not Memorize a Speech
Once you come up with your elevator pitch, say it out loud.
That part matters.
Something can look great on your computer screen and sound completely ridiculous when you actually try to say it.
The PowerHomeBiz article recommends practicing until your pitch sounds natural, but not memorizing every word.
That is the right approach.
Know the basic structure.
Know who you help.
Know the services you want to emphasize.
Know the problems you solve.
Then talk like a normal human being.
The goal is not to deliver the same 47-word speech every time someone asks what you do.
The goal is to be comfortable explaining your business clearly without having to think about it.
Your Elevator Pitch Should Match the Business You Want
There is another reason this exercise is valuable.
Writing your elevator pitch forces you to decide what kind of appraisal business you actually want to build.
If you cannot clearly explain who you want to work with, it is going to be difficult for everyone else to figure it out too.
“I do appraisals” is a job description.
“I help divorce attorneys, estate attorneys, and real estate agents solve real estate valuation problems” is a business position.
There is a big difference.
And in non-lender appraisal work, positioning matters.
The appraiser who becomes known for a particular type of assignment is much easier to refer than the appraiser who simply says, “I can pretty much appraise anything.”
Work on Your 30 Seconds
Take a few minutes this week and write down your elevator pitch.
Keep it simple.
Who do you help?
What appraisal problems do you solve?
What two or three services do you want people to associate with your name?
Then say it out loud until it sounds like something you would actually say in a conversation.
Because the next attorney, Realtor, CPA, financial planner, or business owner you meet may know someone who needs an appraiser.
Your job is to make sure they know when they should think of you.
And if you are trying to grow the non-lender side of your appraisal business, the Appraisal Referral Network is designed to help appraisers increase their visibility, build referral relationships, and generate more private appraisal opportunities.
Visit referappraisals.com to learn more.
