Relo's Divorce, Estates - where to find them

[Bob Ensminger]

Relocation appraisals are the cream of the crop in the appraisal business. They take longer to doand require more info than the 1004 but they pay very well, too. My minimum fee is $600, typical is $700, larger properties and further away, fees increase accordingly. I advertise in the ERC directory. It is on the expensive side, but one appraisal will more than pay fir the ad. I average about one relo assignment a month so my $385 advertising fee shows good returns. Your mileage may vary - I think this works better in an urban and suburban areas where there are many large companies that transfer employees all over the country. I doubt rural areas would work well unless there are a lot of executive-type people living there. To find out more about ERC, just Google ERC. They will be at the top of the list.

Estates - Here in PA, once someone's estate goes to probate and an executor or administrator is named, an advertisment must appear in two publications for three weeks. The typical add reads:
"ESTATE OF JOHN G. DOAKS, late of Derry Township, Dauphin County, Pennsylvania (died September 3, 2008). Executor: John Q. Doaks, 1014 Mountain Drive, Harrisburg, PA 17036. Attorney: Frank A. Crabtree, Esq., Dewey, Cheatem & Howe, 109 Penn State Blvd., Harrisburg, PA 17101. s19-o3"

Now this is not chasing the hearse, it is now a business proposition. The executors have been appointed and now the heirs want to get their money. But they can't get their money until the estate taxes have been paid and the tax returns can not be filed until everything is sold or appraised, although there are sometimes ways around this. Enter the appraiser. Every week, as soon as the first notice is published the executor(s,) I send them a simple one page letter that says I have 25 years experience and know the ins and outs of estate reqirements. I also send a copy of the letter to every attorney - even if I sent them 10 letters last month. This keeps me in the face of the attorneys and they do call for other matters other than the estate at hand.

One letter led to an estate appraisal of seven properties and another led to an appraisal of a 26-unit apartment complex. Other results include bankruptcy appraisals and divorce appraisals.

A disclaimer here - my business model is probably different than most folks here. I am also a desiginated personal property appraiser and an auctioneer. My letters also pitch personal property appraisals, auction services, clean-out services and property management services. Of every 10 letters I usually get one personal property appraisal, 1 out of 20 will have real estate and 1 out of 100 will result in a real estate auction.

The only pressure in an estate appraisal is sometimes to keep the value LOW! How's that for a twist. But sometimes the appraisal will be used for division of assets, so one must remian fair and balanced. There is rarely any controversy with estate appraisals and every once in a while, I do get called to court (more with divorce, but the bankruptcy attorneys quit calling me because they know my appraisals are right on) every once in a while - can you say expert witness fees?

I send out about 20 letters a week. It takes about 2 hours, 20 personalized form letters and $8.40 postage. The most important thing is that I do it - week in and week out. And it works for me.

[Shannon Julian]

Hello Bob:

I thought that the law firm of Dewey, Cheatem & Howe was located in (our fair city) Boston. Guess they're branching out.

Your marketing ideas are great, and I can see applying some of them to North Carolina. Thanks for sharing these points.

Most of my business is non mortgage apppraisals, with divorce and listing appraisals leading the way. I have found there to be a fair amount of work among the lawyers. I'd love to crack into the CPS's.

Regards,

Shannon Julian
Chapel Hill, NC