Wednesday , 21 October 2020

Which Appraisal Clients Make Up the Majority of Your Client Base?

Real estate appraiser shaking hands with an appraisal client

What types of clients do property appraisers serve? Do most of their assignments come from lenders vs. non-lenders? To help answer these questions, we recently asked our real estate appraisal community, “What type of appraisal client makes up the majority of your client base?” While most appraisers said that the majority of their work comes from lenders (most often through AMCs), some said the bulk of their client base is made up of other types of appraisal clients, such as attorneys or private individuals. Read the full survey results below.

What type of appraisal client makes up the majority of your client base?

Pie Chart: Which Appraisal Clients Make Up the Majority of Your Client Base?

Want to participate? Click here to answer this month’s “Question of the Month” survey.

Lenders, through AMCs (36%)

“Majority of my orders come through AMCs, but it is my relationship with each lender that got me added to their approved vendor list for the AMC that handles their appraisal assignments.”

“I am currently a trainee appraiser, but my supervisor mostly receives orders from lenders through AMCs.”

Lenders, not through AMCs (27%)

“I am a staff appraiser with a lender. I have been appraising as a Certified Residential Appraiser since 1992. Previously I performed mass appraisal with a county Assessor’s Office.”

“Most of our work comes from local financial institutions and attorneys for estates.”

“I get connected with a lot of lenders through my work on the VA panel.”

One appraiser told us she works with “lenders through Appraisalport.”

Get tips for working with various types of appraisal clients, including AMCs, banks and non-lenders. Read our article, Advice for Working with Difficult Clients.

Private individuals (11%)

“I get a lot of private clients looking for house appraisals! There aren’t that many of us in my area, so it makes a good part of my business.”

“I specialize in complex agricultural properties. My last assignment was an aquaculture facility.”

“I get appraisals from attorneys, land trusts, accountants and individuals.”

“I am also a realtor, and offer my clients an appraisal as part of the listing process. I also work by referral for private clients who need appraisal services for estate planning, divorce, donation or private sales.”

Looking to diversify your client base? Check out our CE course, Divorce and Estate Appraisals: Elements of Non-Lender Work.

Attorneys (8%)

“The best clients one could have.”

“Eminent domain work is the primary driver of my appraisal business. My firm represents cities, counties and various utilities as well as property owners in varying disputes involving taking of property.”

State or local government agencies (8%)

A small percentage of survey respondents said the majority of their work comes from state or local government agencies. These might include state regulatory entities, for example.

Federal government agencies (6%)

An even smaller percentage of survey respondents said the bulk of their work comes from federal government agencies. These might include federal regulatory entities or the IRS, for example.

Certain federal agencies—including but not limited to the General Services Administration, the U.S. Army Corps of Engineers, the U.S. Forest Service, the U.S. Department of the Interior, and the U.S. Department of the Navy—might engage appraisers for assignments involving federal land acquisition (a.k.a. “Yellow Book” appraisals).

Interested in doing Yellow Book appraisals? Take our CE course: Uniform Appraisal Standards for Federal Land Acquisitions.

Insurance companies (0%)

Zero respondents said that “Insurance companies” make up the majority of their appraisal clients.

Other (4%)

The few respondents who selected “Other” aren’t currently working with any appraisal clients. They told us they are either working to renew their license or “still taking classes” to earn their appraisal license.

Which appraisal clients make up the majority of your client base? Join the conversation! Follow us on Facebook or Twitter. Or, sign up for our newsletter to get a new survey question in your inbox each month.

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The post Which Appraisal Clients Make Up the Majority of Your Client Base? appeared first on McKissock Learning.

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