Last month, the Federal Housing Finance Agency (FHFA) expanded eligibility for appraisal waivers on purchase loans by increasing the maximum loan-to-value (LTV) ratio to 97%. This change allows appraisal waivers—especially without property inspections—for loans with up to 97% LTV. As a result, borrowers may be able to finance nearly the entire cost of a home without fully understanding its value, exposing consumers to financial risk, particularly during a market downturn.

 

So, what does this mean for appraisers?

 

For those who primarily complete lender-based appraisals, it’s clear that FHFA and its appraisal waiver policy believe they can manage risk without requiring an appraisal. This will likely lead to reduced volume for appraisers in the future. While the appraisal waiver program still represents a small portion of the overall volume, it signals that FHFA will continue to push for waivers and alternative products over traditional appraisals. This should serve as a wake-up call for appraisers who rely heavily on lender work—now is the time to diversify.

 

The solution is to move away from lender work and diversify your client base. Consider providing appraisals for real estate agents and sellers, helping them set accurate listing prices. Partner with attorneys to conduct appraisals for estates, both current and retrospective. Explore divorce appraisals, as attorneys and spouses rely on them daily for divorce proceedings. As the waiver program grows, market yourself to buyers and agents as a provider of “double-check” appraisals: we’ll verify your purchase price to ensure you’re not overpaying. There are plenty of opportunities to carve out a niche in the non-lender space—get creative to meet the needs of your market.

 

Breaking into the non-lender space isn’t easy, but it’s necessary. FHFA is signaling that your volume will decrease over time if you don’t adapt. If you want to remain in the appraisal business, you must redesign your business and diversify your client base. You’ll need to step out of your comfort zone, market your services, and be proactive to succeed. Appraising is a rewarding profession, and once you diversify away from lending, you may find yourself enjoying it again.

 

I’m not suggesting you abandon lending altogether. By securing non-lender appraisals, you’ll be able to choose to work with only the best direct lenders or AMCs that value your expertise and compensate you fairly.

 

If you’re interested in learning more about networking and growing your non-lender business, I encourage you to consider joining ReferAppraisal.com. We offer a $20 per month or $199 per year membership, which provides full access to our micro-lessons filled with real-life scenarios and actionable tips. If you’re not ready to invest, we also offer a free membership that lets you connect with other appraisers, offer nationwide appraisal coverage to clients, and earn money through non-lender referrals and peer referrals.

I came across an article from BNI with “10 Tips for Successful Networking for Introverts.” Many appraisers are often seen as introverted professionals, but these tips from BNI offer practical ways to step out of that mold and build stronger networking skills. Definitely worth a read!

 

Starting conversations and turning them into relationships that lead to business is more intuitive for some people than for others. BNI helps provide some structure to this process with the practices that have proven to be successful for Members around the world for decades. Here are some tips that may make networking in the rest of your world a little easier if the process is new to you or you are looking for ways to bolster your confidence.

 

1. Create a business plan that includes specific contacts in strategic companies to help you be intentional in your networking efforts. If you can ask someone to introduce you to a specific person instead of asking for broad categories of connections, you’re far more likely to meet the people who can help you move my business forward. This requires some research and planning on your part to know who to ask for, but it’s easier to “work a room” if you know who you’re hoping to meet.

 

2. Since one of the most effective ways to illustrate points or persuade listeners is through stories, you may have to have a few rehearsed, quick, and entertaining anecdotes to talk about your business. While facts may be convincing, stories tap into common human experiences in ways that can galvanize and unite groups for a cause. Even in more intimate settings, stories can put people at ease, which makes you seem like a pretty great person to be around!

 

3. If you’ve attended a networking event and someone has asked, “What business are you in?” you know that there must be more interesting ways to start conversations. Think of creative ways to engage: “What’s your favorite part of your job?” What have you learned about yourself in this role?” Interesting questions elicit more interesting communication. Before starting conversations, create some interesting questions to facilitate conversation.

 

4. Tall Guy, Drunk, and the Hostess – Holiday gatherings can be fun AND good for networking with a few tips. Tall Guy is someone at a party who stands out. This could be someone who’s tall or a person with interesting jewelry or an unusual haircut. Drinkers are at the bar and they meet everyone! The hostess knows who came and you can ask her who you should meet. Three people to start your networking conversations!

 

5. Networking in Pairs: Divide and Conquer! Not everyone relishes (or deems possible!) the prospect of walking into a room of strangers alone. Don’t! Attending an event with a friend or colleague can bolster confidence and pay dividends in effective results. Just be sure to attend different breakout sessions and chat up different people, though. Then meet to exchange stories and contact information.

 

6. Talk about what you’ve learned recently. Without playing the role of teacher’s pet, it’s fairly easy to make conversation and find topics relevant to all by offering up a fun fact or content from an article you just read. “Do you know what I just learned about SPAM from a blog I read? Yes, the meat!” Far more interesting than, “Some weather we’ve been having, huh?” Scan news feeds, blogs, and podcasts for subjects to offer.

 

7. Active listening! Huh? What? Active Listening! Talking to strangers is more intuitive for some people than it is for others. Some want to regale others with tales of professional prowess or worldly woes. Others passively listen without participating. Effective connection falls somewhere in between. Active listening means intentional body language (raised eyebrows, nodding head) as well as clarifying questions when appropriate. Be fully present and try to learn something.

 

8. Ways to Answer: “How are you?” When you know you’ll be asked the same questions at events, prepare memorable, interesting answers to keep conversations lively. When asked, “How are you?” or “What’s your business?” answers like “Fine” and “Insurance” are as bland as bland gets. Answering with specific, interesting responses is more fun! Why not, “Today has been challenging, but I’ve learned a lot.” “So far, my day has been remarkable.” Please tell us more!

 

9. Networking is no joke; have some! It’s often challenging to create conversations out of thin air with people you’ve never met. If you’re not a natural connector, consider having a joke in your repertoire that you can pull out for eye rolls, if nothing else. Even if it’s corny and terrible, everyone will have just shared a common experience, bonding the group for the event! Caveat: consider your audience and make it clean and inoffensive.

 

10. Take a breath. Relax. Keep moving. After a long day of being “on” for colleagues and clients, sometimes the last thing you want to do is attend an afterhours networking event. It’s ok to take a little “me time” to gear yourself up in the car before you slap that smile back on your face! Maybe sit in your car and listen to energizing music. Deep breathing or meditation might help. You can do this!

 

If you’re looking for help with networking to market your business, feel free to post a question in the Non-Lender Forum or reach out to us directly at support@referappraisals.com. We’re here to support you!

I recently listened to a podcast featuring Mark Cuban, the tech billionaire, Shark Tank Investor, and part owner of the Dallas Mavericks. When asked what sets entrepreneurs apart, his answer was simple: “You’ve got to do the work.” Whether it’s learning more, working harder, or working smarter, the key to success is taking action. The same principle applies to growing your non-lender appraisal business—you can’t just wait for the phone to ring. You have to put in the effort.

 

Every Wednesday morning, I attend a BNI networking meeting that starts at 7:00 a.m. sharp. I’ve been doing this for 10 years, even when I don’t feel like it. Why? Because I know the value of connecting with 50 other professionals to grow my business. That’s what it means to “do the work.”

 

A few weeks ago, I fell behind on planning my website blogs, marketing emails, social media posts, and Google Business updates. I was busy, and the weekend rolled around. The last thing I wanted to do was work. But I spent three hours catching up, because I know this marketing is crucial for capturing private work. That’s another example of “doing the work.”

 

Your non-lender business won’t grow on its own. You have to take intentional steps—join a networking group, the chamber of commerce, or Toastmasters. Build a strong website and write consistent blogs. Set up your Google Business page, update it regularly, and ask for reviews. Post on social media consistently. Invest in a CRM and start reaching out to attorneys and agents. Schedule coffee or lunch meetings with potential referral sources. None of these activities will bring instant results, but over time, they will plant the seeds for your business to flourish.

 

If you’re looking to grow the private side of your appraisal business, connecting with fellow appraisers is a great place to start. Peer referrals are an excellent source of private work. You can join the Appraisal Referral Network for free at ReferAppraisals.com and start tapping into these opportunities.

 

For those wanting to dive deeper into non-lender appraisals and gain practical insights, we offer real-world lessons. Plus, as a paid member, you can earn up to 12% of the appraisal fee for sending peer referrals—all for just $20 per month or $199 per year.

 

In the end, it’s all about doing the work—and the rewards will follow.

 

Dan Lindeman

Appraisal Referral Network

An appraiser, a moving company owner, and a real estate agent walk into a bar. No, it’s not the start of a joke—it’s the beginning of a powerful collaboration I recently took part in with two other professionals. When you’re working on the non-lending side of the appraisal business, networking becomes a crucial part of your success. It’s all about continuously expanding your contacts and connecting with people who target the same audience. In this case, all three of us shared a common goal: connecting with estate planning and probate attorneys.

 

This meeting wasn’t even my idea; the owner of the moving company initiated it. We’re both part of the same networking group, and after chatting a few times, we realized we were both looking to meet estate and probate attorneys. For his business, these attorneys are a key source of work. When someone passes away, the family often needs movers to clear out the house before selling it. Similarly, if someone transitions to an assisted living facility, they’ll need help relocating. Having a trusted moving company as a referral makes the attorney look good and takes a burden off the family.

 

Enter the real estate agent, whom I was introduced to through the mover. She has been marketing to probate attorneys for a couple of years and has made significant inroads in that niche. Probate attorneys are a valuable lead source for agents, as they often handle the sale of real estate for estates. The agent helps heirs sell the property—people pass away every day, and these properties need to be sold. She’s done an excellent job building relationships with these attorneys, which has opened doors for her business.

 

As an appraiser, estate and probate attorneys are also a great referral source. Whether it’s determining a home’s value for heirs, providing date-of-death appraisals for tax purposes, or helping with property divisions among heirs, there are plenty of opportunities in the probate space. The key to accessing those opportunities lies in building relationships with estate attorneys.

 

So how do three professionals—an appraiser, a mover, and a real estate agent—collaborate to market themselves to estate and probate attorneys? The answer is by offering value. In addition to the three of us, many other professionals are involved in the estate space: wealth managers, liquidation companies, senior care managers, assisted living facilities, personal property appraisers, business valuators, commercial real estate agents, and more. Our goal is to create a “one-stop shop” team for estate attorneys, providing a full suite of services they might need.

 

Next time I meet with an estate planning attorney, I’ll set myself apart by saying, “In addition to my appraisal services, I work with a team of trusted professionals who can assist with other needs you may have.” Not only does this make me look good, but it also adds significant value to the relationship. Our ultimate goal is to host events where all of these professionals come together to sponsor and network with estate attorneys. This team approach will increase our exposure, expand our connections, and help us grow our businesses more effectively.

 

Appraisers, I challenge you to build something similar in your market. Get a team together, present yourselves as a collaborative group, and see how it enhances your referral opportunities.

 

If you’d like to learn more about networking and growing your non-lender business, consider joining **ReferAppraisal.com**. For just $20 per month or $199 per year, you’ll get full access to micro-lessons packed with real-life scenarios and actionable tips. If you’re not ready to spend money yet, no problem! We offer a free membership where you can connect with nearby appraisers, provide nationwide appraisal coverage to your clients, and earn money by sending or accepting non-lender referrals.

 

Let’s work smarter, not harder, and build stronger networks together.



Dan Lindeman

Appraisal Referral Network

Whenever I leave the house, it’s inevitable that I’ll run into someone I know. My wife always cringes when I start chatting with them—I’m the social one, and she’s not as much. It wasn’t always like this for me. When I decided to step out of my comfort zone and expand into private appraisal work, I realized that networking and building connections were essential. This brings me to a recent connection I made from running into a familiar face.

 

My son recently turned 16, so we took him and some friends to TopGolf to celebrate. While we were having a great time, I noticed someone I knew in the bay next to us—a friend’s son who works with his father in commercial insurance. We started chatting, and he mentioned he was there with his networking group for a social happy hour. I asked if there were any attorneys or agents in his group that I could meet. Although neither the estate planner nor the agent in his group was present, he invited me to visit his networking group, and I agreed. Even though I’ve been part of a networking group for the past 10 years (see prior blog: “Is Joining a Networking Group Worth It?“), I thought it was a great opportunity to expand my connections.

 

A few days later, I attended the meeting and was introduced to an estate planning attorney. Although the real estate agent wasn’t present, I plan to connect with him in the future. The estate attorney, who recently started her practice, didn’t know any appraisers. We scheduled a coffee meeting to learn more about each other’s businesses and explore potential collaboration. While I’m not sure where this will lead, it’s certainly better than waiting at home for my phone to ring.

 

My advice to fellow appraisers is to get out there and network. Expand your connections and see where it takes you. I turned a fun evening celebrating my son’s birthday into a potential business opportunity that could result in thousands of dollars in new business. It’s not hard—you just need to put yourself out there and be open to new opportunities.

 

Appraisers, if you’re looking to learn how to market your appraisal business and step out of your comfort zone, join us at ReferAppraisals.com. We offer free membership with valuable resources and opportunities to earn additional income through referrals or accepting assignments. For just $20 a month, our Elite Membership provides actionable educational micro lessons to help you grow your non-lender business.

 

Dan Lindeman

Appraisal Referral Network

ReferAppraisals.com

Do you want to make $150,000? $250,000? Or [insert your number here] a year doing private appraisals? How do you accomplish this? It all comes down to building connections. The value of your network is as crucial as your appraisal skill set. If you’re aiming to hit a revenue target, understanding how many connections you need and how to leverage them effectively is key.  Private appraisals are the holy grail for real estate appraisers. They provide diversification, growth, and personal fulfillment beyond lenders and appraisal management companies. These include assignments for tax appeals, estates, trusts, guardianship, divorces, listing appraisals, partition, etc. Why do appraisers want to do private work?

 

Diversification of Income:  Non-lender assignments offer revenue streams beyond traditional mortgage-related work. This can help stabilize income and reduce reliance on the fluctuations of the real estate market. With mortgage volume at an all-time low, appraisal volume for lending is also at an all-time low, with many appraisers struggling to make ends meet.

 

Professional Growth:  Engaging in diverse assignments can enhance an appraiser’s reputation and build their professional network. This can lead to more opportunities and a stronger presence in the industry.

 

Personal Fulfillment:  Some appraisers might find working on non-lender assignments more rewarding or interesting, particularly if they enjoy contributing to various aspects of property valuation beyond standard mortgage assessments. Lenders want cheap and fast appraisals. Private clients value your opinion more than banks and often pay higher fees for these assignments. Plus, most assignments do not have the strict time constraints of lending assignments.

 

Understanding Your Revenue Goal

Before diving into connections, it’s essential to grasp what achieving $150,000 in annual revenue entails. As a real estate appraiser, your income is generally derived from the number of appraisal assignments you complete. Suppose your average fee per assignment is $450; reaching $150,000 means you need to complete approximately 333 assignments a year, or about 28 assignments per month. Want to earn $250,000? You would need to complete 500 assignments a year at $500 each.

 

The Role of Networking 

Networking plays a pivotal role in securing appraisal assignments. Building a robust network helps you gain referrals, foster client relationships, and establish a solid reputation. But how many connections are necessary to meet your financial goals?

 

Identify Your Ideal Clients 

Start by identifying who your ideal clients are. Real estate agents and attorneys are the biggest referral sources for private work. Real estate agents refer appraisers for pre-listing assignments, home measurements, and appraisals for cash buyers, and they have a large database of clients who often ask them for referrals for professionals in real estate. Attorneys are another excellent source: family law attorneys need appraisals for asset division in divorce and expert witness work. Estate attorneys need values for probate, date of death appraisals, and appraisals to figure out a buyout price between heirs. Real estate attorneys need appraisals for partition purposes. Various other attorneys also rely on appraisals and make consistent referral sources for appraisers. A strong relationship with a few high-volume real estate agents and attorneys could lead to a steady stream of referrals.

 

Calculating the Number of Connections You Need 

To determine how many connections are necessary to meet your revenue goals, consider the following key factors:

 

Referral Rates 

If each connection refers you to one or two clients annually, you’ll need a substantial network to achieve your target. Based on recent surveys, the referral patterns from real estate agents and attorneys vary significantly:

 

Real Estate Agents: Polling results indicate that, on average, an agent refers to an appraiser approximately 5 times per year. Some agents report no referrals at all, which underscores the need for appraisers to actively engage with agents and demonstrate the value they can bring. Establishing strong relationships with agents can significantly enhance your referral network.

 

Attorneys: According to a survey of appraisers, 24% receive client referrals at least 12 times annually, while 61% report receiving between 24 to 36 referrals from attorneys each year.

 

Conversion Rates 

Not every connection will consistently provide referrals or generate business. Typically, only a percentage of your connections will actively contribute to your workload.

 

For a $150,000 Annual Revenue Goal:

  • If your average fee per assignment is $450, you need to complete about 333 appraisals annually. Given that agents refer an average of 5 clients per year; to receive 100 appraisal requests from agents, you would need to establish relationships with roughly 20 reliable agents. For the remaining 233 appraisals, assuming each attorney refers you 12 times per year, you would need around 20 attorney connections.

In total, to meet your goal of 333 appraisals, you would need to cultivate approximately 40 solid connections with both agents and attorneys. Since not every connection will be consistently productive, aiming for a larger number—such as 5 times this amount—can help ensure a steady stream of business. This approach accounts for variability in referral volume and the likelihood that some connections may not provide consistent referrals.

 

Quality Over Quantity 

While the numbers are useful, the quality of your connections often outweighs the sheer quantity. Cultivating strong relationships with fewer, but more influential, contacts can be more beneficial than having a large network of less engaged individuals. Focus on building trust and offering value in your interactions.

 

Strategies for Building and Maintaining Connections 

 

Attend Industry Events: Participate in real estate and appraisal conferences, seminars, and local networking events. These settings offer opportunities to meet potential clients and expand your professional network.

 

Leverage Social Media: Platforms like LinkedIn, Facebook, and Instagram can help you connect with industry professionals and showcase your expertise. Share valuable content, engage with posts, and join relevant groups to expand your reach.

 

Join Professional Associations: Become an active member of professional organizations. These associations often offer networking opportunities, educational resources, and platforms for professional visibility.

 

Follow-Up and Nurture Relationships: Maintaining relationships is crucial. Regular follow-ups, personalized communications, and providing value through insights or advice can keep you top-of-mind for your connections.

 

Achieving an annual revenue goal as a real estate appraiser is within reach with the right strategy and networking efforts. By focusing on building a network of strategic connections, fostering high-quality relationships, and effectively managing your referrals, you can create a steady pipeline of appraisal assignments and hit your financial targets. A well-nurtured network is invaluable. Invest time and effort into building and maintaining these connections, and watch your business grow as you work towards your $150,000, $250,000, or $300,000 annual goal.

 

If you would like to learn more about growing your non-lender appraisal business, become a member of the Appraisal Referral Network by visiting ReferAppraisals.com and take the first step toward expanding your professional network and boosting your appraisal business.

 

Dan Lindeman

Appraisal Referral Network

ReferAppraisals.com

When I first decided to diversify into private work, I knew I had to expand my network to succeed. The challenge was determining the best use of my budget and time. There were many options: the Chamber of Commerce, Rotary Club, NPI, Toastmasters, ProVisors, BNI, and more. Ultimately, I chose BNI, as I had previously been invited to a meeting but wasn’t ready to join at that time. Since joining, I haven’t looked back and have been a dedicated member of the same chapter for nearly 10 years.

 

We meet weekly, every Wednesday morning from 7 to 8:30 AM at a country club. BNI is structured so that each member represents a different profession. I am the sole real estate appraiser in my chapter, which has nearly 50 members. We have a robust real estate team that includes residential agents, commercial agents, mortgage brokers, inspectors, insurance agents, roofers, and general contractors. Surprisingly, most of my referrals come not from the real estate team but from other members with various backgrounds, including attorneys and PEO specialists, and notably from members outside my chapter.

 

BNI’s structure and attendance policy are key to its success. The meetings are run the same way each week, and the attendance policy limits absences and allows for substitutes when necessary. This consistency helps build strong relationships, as you see the same people weekly. Outside of meetings, I typically meet members for coffee, drinks, or dinner about once every two weeks to learn more about each other’s businesses and explore how we can support each other. BNI also has a referral policy requiring members to bring a referral for another member, give a testimonial, or bring a visitor each week. Once you get into the swing of it, you become the go-to person in your network, and your friends and family start calling you first for recommendations—creating more referral opportunities.

 

Every week, we give 45-second commercials, which has made me more intentional about my business and who I want to connect with. For example, one month, I might focus on meeting estate planning attorneys or real estate brokers. Being part of a diverse group of professionals has given me a broader perspective on my appraisal business. Learning from more experienced business owners is invaluable, as you can adopt what works for other businesses and avoid what doesn’t. Personally, I’ve grown tremendously. I went from hating public speaking to serving as the president of my chapter and running the meetings for a year.

 

The costs are high—$1,099 per year and $125 per month for breakfast and local dues. Is it worth it? Absolutely. I would join again in a heartbeat. If you’re considering joining a networking group, it doesn’t have to be BNI. Whatever you choose, commit to it fully and put in your best effort. You get out what you put in.

 

If you want to learn more about diversifying into private appraisals, please join ReferAppraisals.com. With a free membership, you will be listed on the referral network, have access to our Private Q&A Forum, and receive a weekly non-lender newsletter with tips to grow your private appraisal business. For our ELITE members, check out our latest micro-lesson about BNI, which includes details on how much I make annually from BNI, how I get business from members outside of my chapter, and much more.

 

Dan Lindeman

Appraisal Referral Network

ReferAppraisals.com

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