The Personal Property Appraisers Post

Effectively marketing your personal property appraisal services is the most critical skill of any successful appraisal practice.

It is not “one of the most critical factors” – it is THE most critical factor. Without an effective marketing strategy, and a proven marketing action plan, an appraiser is doomed to a practice that is far less successful than it could be.

Appraisal myths have prevented many very qualified appraisers from properly marketing their services. As a result, these appraisers deny themselves the benefits of a well-run, highly-profitable appraisal practice. Until an appraiser looks objectively at his or her business, there cannot be any positive change in the growth and quality of anyone’s own practice, or in the appraisal profession.

In order to create a profitable, dynamic appraisal practice, appraisers must be aware of the existing myths that surround this most exciting and lucrative business. These appraisal myths must be exposed for what they are -- a fabrication created by appraisers who are looking for an excuse to explain their lack of success. It is always easier to blame an external source for our shortcomings than it is to look internally and examine why we have failed (or not have been as successful as we had hoped).

Exposing the Myths

There are three primary myths that, once exposed, will either galvanize you into action, or cause you to stop reading this article and stick your head in the sand. You get to choose your fate and your future.

Myth number one: "My appraisal designation, certification and qualifications will get me business. This is the number one fallacy of the appraisal world. It is the belief that leads many people to take appraisal courses, continuing education programs, and specialty study classes."

Once completed, the appraiser has an expectation that there will be a “payoff” for all the hard work. I’ve heard it many times. They gripe about spending a ton of money and loads of hours on a course, then expect it to pay off immediately. This is not the case. The knowledge, qualifications, designations and certifications earned are the foundation upon which an appraiser can market their services. These qualifications may provide an appraiser with a competitive edge, but only if they are marketed properly. Successful completion of any appraisal course is not a guarantee of business success.

Myth number two: "My professional appraisal organization is supposed to get me all the business I need." 

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Professional appraisal organizations do not exist to find clients for you. Their mission is far more important than that. There are many fine professional appraisal organizations that you may be associated with, but it has never been their job or mission to be your marketing department. Their focus is on the profession as whole, and its entire membership. You and your practice are not the center of the universe in the appraisal world.

The benefit of being a member of any professional society is in the quality of education, the ability to network with other trained and tested professions, the opportunity to learn by participating in the operation of the society, and the privilege of being associated with a group of professional, trained and tested personal property appraisers. Certainly, many appraisal societies do assist in the promotion of your appraisal services. Some progressive associations may provide marketing programs, seminars and special presentations to help appraisers improve their marketing skills. This however is not their primary function. To believe this myth is to ignore your responsibility to your business, to your clients and to your professional appraisal society.

Myth number three: "Appraisers write appraisal reports."

OK, this is true. But the whole myth is: Appraisers only write appraisal reports. Appraisal professionals learn how to write appraisal reports in classes. Appraisers learn how to write better reports at conferences and in special seminars. Unfortunately, many appraisers erroneously conclude that report writing is all that appraisers do. Nothing could be further from the truth.

Next post??? Busting the Myths

This article first appeared in the 2008 Journal Of Advanced Appraisal Studies; Foundation for Appraisal Education, Editor: Todd Sigety http://www.foundationforappraisaleducation.org/

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