Specialize and Rise to the Top. Appraisal Business Development
In our last Third Thursday Appraisal Webinar we discussed the secret to higher rates and more business: Appraisal Specialization.
When someone needs medical expertise they find a doctor who specializes in that ailment, not their family doctor.
When a homeowner has a huge water pipe spewing high pressure water into their basement, they call a licensed plumber, not the local handy man.
When little critters are crawling all over the house – and on the kids – parents call a professional exterminator. They do not go to Home Depot for a can of Raid.
The same holds true for the appraisal profession. Appraisal specialists consistently bill higher rates and get more business than most generalists.
You can keep your generalist practice and grow it. You can also create a specialty or a sub-specialty.
So why not be a generalist AND have one or more sub-specialties? Keep on marketing your generalist practice.
At the same time, develop a specialty. Pick whatever subject you love and have a passion for. Start reading and studying.
Then, begin to market your specialty. Let your existing clients know. Create a postcard campaign and an email series with a picture of the items within your new specialty. Add articles to your blog. Speak on the subject. Keep learning more.
What about your rates? It is perfectly acceptable to have different rates for different jobs and different levels of complexity.
Consider a generalist rate and specialist rate. As you know I’m not much of a generalist. What I do know, Leon taught me. Without his knowledge and patience I would not even think about conducting a residential contents appraisal.
I have managed to do my share of generalist work at the NAC standard rate. But my specialist rate kicks in for anything out of the ordinary.
Give it a try and let me know how it goes.