5 Tips to Stay in Business

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Anyone who has started a business knows that it takes planning, money, motivation and passion. While getting a company off the ground is both exciting and challenging, it also takes a great deal of effort to keep the doors open.

A recent article in Valuation magazine, 9 Signs Your Business Has Stopped Growing, addressed what issues might indicate that a company is sliding. But just because there’s been a slowdown doesn’t necessarily mean the troubles are irreversible.

1. Be in it to win it

Appraisers can take several key steps to help ensure their business thrives including analyzing competition, staying focused and preparing to make sacrifices. Running a successful business takes more than just a good idea and solid professional skills.

Checklist

2. Follow the law

In addition to managing the day-to-day operations, appraisers and other business owners also need to be aware of importantlegal issues such as protecting personal assets and putting agreements in writing. Being aware of potential legal pitfalls, no matter how small they might seem, can help keep business owners out of trouble. [Read more…]

How Can Appraisers Develop and Grow Their Businesses?

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In the organization’s latest video, the Appraisal Institute invited Donna L.G. Shaft, principal of Professional Business Development, a company that coaches professional service providers on how to develop their businesses and grow their companies, to offer tips for how appraisers can take their businesses to the next level.

AI: Why is it important for appraisers to focus on marketing and business development?

DLGS: I’ve spent more than 20 years working with professional service providers and I Business_Development_Tips_for_Appraisershave a practice of my own, so I know that marketing and business developmentare the active ingredients in every successful business. It’s hard to add one more thing to your day, but that’s the path to success.

AI: Why should appraisers have a business development tool kit?

DLGS: Appraisers need field-tested tools and tactics, which should include social media, websites, testimonials and publications to name just a few. [Read more…]

Appraisers Anticipate Sustained Growth: AI Survey

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According to the Appraisal Institute’s 2013 Real Estate Appraisal Outlook,appraisers expect continued growth in mortgage lending appraisals as the real estate market recovery progresses.

arrow_graph_upBecause this represents the primary type of valuation service for a vast majority of realestate appraisers, it should provide some encouragement – particularly to those new to the profession or looking for jobs. Commercial and residential appraisers were in agreement that mortgage lending appraisals present the largest opportunity for growth.

Following that, in order of potential, commercial appraisers see the top areas of growth over the next one to two years as land valuation, litigation valuation/forensic appraisal, real estate consulting (fee-based) and right-of-way/easements. Residential appraisers predict that review appraisal services, real estate owned/foreclosures/short sales, litigation valuation/forensic appraisal and land valuation will provide the most opportunity. [Read more…]

Appraiser Trainee Hiring to Remain Weak: AI Survey

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Hiring of real estate appraiser trainees will remain weak for the next one to two years, according to an Appraisal Institute survey released July 17.

About one-fifth (21 percent) of commercial appraisers said they would add full-time trainees; fewer than one-tenth (9 percent) of residential appraisers said they would do so, according to the survey of U.S. real estate valuation professionals conducted in May and June. Commercial appraisers account for less than one-third of practicing U.S. appraisers.

[Read more…]

Appraisers Optimistic About Future: AI Survey

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More than three-fourths of U.S. real estate appraisers  are very or somewhat positive about the demand for their services over the next one to two years, according to  an Appraisal Institute survey released July 17.Survey Excellent

Eighty percent of residential appraisers and 78 percent of commercial appraisers said they are upbeat about their future, according to the survey conducted in May-June.

[Read more…]

Pros and Cons: Employees vs. Independent Contractors

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Because many appraisers are self-employed or run small businesses with few staff, recruiting and staffing employees can present a unique set of challenges.

Business owners must determine whether to hire appraisers as employees of the company or as independent employment_agreementcontractors. According to a recent article in Valuation magazine, businesses are increasingly taking the independent contractor option whenever possible due to the significant savings and flexibility for the employer. [Read more…]

3 Ways Hiring a Trainee Can Help Your Business

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It would likely come as no surprise to most appraisers at this point that with the changing demographics and aging of the valuation profession, attracting the next generation remains crucial to the future. With the many opportunities for employment and continued growth, the benefits for those considering pursuing an appraisal career are clear.

[Read more…]

Early Registration Closes May 18 for AI 2013 Annual Meeting

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Appraisal Institute Vice President M. Lance Coyle, MAI, SRA, reveals details about this year’s Annual Meeting that will be held July 23 – 25 at the Hyatt Regency in Indianapolis in the organization’s latest video.ai_2013_annmtg_shaking_hands

At this year’s Annual Meeting, attendees will have the chance to experience more than 30 first-class education programs, including the chance to earn up to 16 hours of Appraisal Institute continuing education credit and state credit.

 

Attendees will also find plenty of opportunities for networking with their peers, exhibits of cutting-edge valuation products and services, an exciting awards program honoring some of the most accomplished individuals in the valuation profession and a wide variety of fun activities throughout the Indianapolis area. [Read more…]

Is Now the Time to Start an Appraisal Career?

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For students who are approaching college graduation, or those who have recently finished their university careers, the future can hold many unanswered questions. While many struggle to find jobs related to their degrees, a good deal of those who secure employment will do so at the price of lower-level and lower-paid positions.

 

While many young students may enter the academic world with an idea of what they’d like to do after they graduate, there is an array of less obvious career options they likely haven’t even considered – including the valuation profession. [Read more…]