Residential Appraiser • Santa Barbara, CA
Theodore Harmand Appraisals
$2,300
more gross revenue per month
4
more appraisal orders per month
8
weeks until new business started
“They’ve gone above and beyond to help me generate new business. And it was completely free to try them out. It’s a no brainer.”
— Theodore (Ted) Harmand, Owner of Theodore Harmand Appraisals
The Problem
In the wake of the COVID-19 pandemic, rapid rate hikes combined with an unprecedented supply shortage dramatically reduced mortgage transactions. This created a shortage of bank work, which Ted’s business relied on almost exclusively. In addition, banks are notoriously cost sensitive so even a fee escalation of $100 meant the bank (or AMC) would then find another appraiser to do the work for less. Perhaps worst of all this bank work routinely required repeated rounds of revisions, meaning Ted earned even less for his time on those reports. Not only did reports need to be adjusted, but Ted routinely had to drive back to a subject property because the bank needed a photo of the inside of a garage, or a smoke detector in a certain room.
The Solution
Ted reached out to Appraiser Marketing Group to help Theodore Harmand Appraisals generate more non lender business. The agency created a new website, key online profiles, and - most importantly - made sure they ranked first on Google for the right searches inside Santa Barbara County. The process took 8 weeks. Once Theodore Harmand Appraisals showed up where these private clients were actually searching for an appraiser Santa Barbara, they started calling. In their first month, Ted received 2 more appraisal orders, averaging $1400 in new business. The company’s results have improved as they continued to rank higher for relevant searches in their area. They typically generate 4 more orders, grossing an additional $2,300 each month. This new non lender business allows Ted to charge a significantly higher fee, perform less (often no) revisions, and travel to the property once.