Relationship development is the key to expanding beyond lender clients

A couple weeks ago we asked you if you did business with consumers/homeowners/borrowers directly, and if so how you did it. "The way I started was by becoming acquainted with attorneys, accountants, and other professionals who deal with these issues," wrote Bob E. from Sullivan, Ill. "A large portion of my business comes from this source. It does take some time to develop the contacts, but the business is there."

Steven D. from parts unknown develops his relationships with brokers. "Oftentimes we can seem to be white knights riding in at the nick of time to the appraisal that will save the loan, the deal and the broker's commission. But most of all it is an opportunity to offer personalized service and advice that often is not available when dealing directly with banks. I personally have saved a couple deals and have nixed a few and saved the borrower thousands simply by working with the broker and informing them what will appraise and what will not," he wrote. "Coupled with short turn times, 48 hours max in my case, the broker and lender come to realize the appraiser as an asset and not a hindrance."

And in relation to a previous challenge, Susan G., also from parts unknown, wrote to ask that we pass along a good resource for coaxing payment out of foot-dragging clients. "Let appraisers know that there is a website that lists all agencies that regulate the mortgage industry and they can print it and then put that agency for the appropriate state as their next contact if invoice remains unpaid. The site is: http://www.regulatorycounsel.com/bankingcommission.htm. Works like a charm (most of the time)," she said.

Thanks, Susan! See this week's challenge, to the right.