Category: Business Development

0

‘The Help’ for Appraisers

I love movies, but I did not enjoy going to ‘The Help’ this past year with my wife. It probably stems from the fact that I wanted to attend the other theater (which was playing Captain America), but it was her turn to pick. The movie did, however, remind me of a time in our history where certain individuals were treated less than others. Not cool, and it made me very uncomfortable. There is another kind of ‘Help’ that many appraisers also find not so cool and makes them feel uncomfortable; that is… ANY HELP WHATSOEVER! For some odd reason,...

0

FloodInsights Provides National Flood and Florida Sinkhole Reports

Sinkholes have become a very hazardous and costly risk in Florida. There are certain counties: Pasco, Hernando, and Hillsborough where the land is inundated with sinkholes. However over the last few years the risk of sinkhole and subsidence events has been spreading geographically. According the state of Florida, 211 property insurers noted that claims increased from 2,360 in 2006 to 6,694 in 2010.  The total dollar amount of those claims was near $1.4 billion dollars. There has not been a simple answer to why sinkhole incidents have been on the rise in Florida.  It is believed that

Appraisal businesses risk 2

Greatest Risk Facing Appraisal Businesses

Greatest risk: low fees or low cash flow? A Recent Report From Texas There has been a lot of buzz about the recent survey from Texas. The Texas Appraisers and Appraisal Management Company Survey published by Texas A&M Real Estate Center in conjunction with the University of Houston’s Hobby Center for Public Policy and the National Opinion Research Center at the University of Chicago reports the current condition of the appraisal industry in the state of Texas. 1,584 appraisers and 55 Appraisal Management Companies (AMCs) doing business in Texas were surveyed and findings from the report were released to the public...

The value of Time - Time is Money 0

The Value of Time

A British university professor has proved the old adage “time is money” in a 2002 article by CNN by creating the following mathematical formula: V=(W((100-t)/100))/C V  = value of an hour W = person’s hourly wage t = tax rate C = local cost of living Ian Walker, economic professor of central England’s Warwick University, calculated this formula to show people that time actually IS money.  This formula shows that day-to-day activities can be calculated monetarily to help you understand the value and costs of time.  Consider the following. Brushing your teeth for three minutes = costs 45 cents Washing...

Collecting your money 0

Importance of Collecting Your Money from Clients

Getting clients to pay up… On April 27, 2011, H.B. No. 1146 also known as “AMC Bill” was passed in the state of Texas. Through successful efforts of the Foundation of Appraisers Coalition of Texas (FACT), its members, and many more this bill requires the registration and regulation of appraisal management companies doing business in Texas. The following is a link to H.B. No. 1146. Some highlights of the bill include appraisal review, competency of appraisers, and statement of fees. Though all are important, one particular highlight of interest is outlined under Sec. 1104.157 titled “Compensation of Appraisers.” Compensation of Appraisers This...

Small business cash crunch 0

Small Business Cash Crunch

Appraisers & their frustration with cash flow… I recently attended the Association of Texas Appraisers (ATA) Mid-Year Meeting in New Braunfels, TX. I met many wonderful ATA members and the meeting was well organized.  Much of the meeting consisted of discussions on Texas Appraiser Licensing Certification Board (TALCB) commission activities, technology tools for appraisers, and USPAP. Since the topic of cash management rarely is presented in any appraisal meeting or event (but it should), I took the time during the networking sessions to learn more about the financial successes, struggles, and conditions of appraisers and their businesses. Some appraisers shared they are...

Factoring your cash flow 2

Where Is My Money? Factoring Your Cash Flow

Factoring is the solution! Appraisers have shared a common concern with me when I visit with them and learn more about their businesses  – “When am I going to get paid?”  Many tell me that on average they do not collect their fees for 45 to 60 days. You have financial obligations to meet: payroll, taxes, travel expenses, etc. Cash flow delays can cause great stress for you and your appraisal business. You must understand and be aware of the importance of cash. Cash is the lifeblood of any business and without it your business will fail. One of the main challenges...

1

Playing the Violin and your Company’s Image

If I said to you the name Joshua Bell, would it mean anything to you? No fair Googling. Well, it did not mean anything to literally thousands of commuters in a Washington D.C. subway terminal recently either. Neither did the music he played mean much to them as they hurried past. Here, watch the video: So, who is Joshua Bell? He is a Grammy award-winning violinist who is considered by some to be the best in the world! The experiment you just viewed was sponsored by the Washington Post. They placed one of the best violinists in the world, holding...

3

The Dawn of a New Era in Appraising

A new frontier in appraising is upon us… Approximately 30 years ago the automobile industry began to introduce computers into cars and since that time they have never been the same. What was once considered a rather simple procedure – tuning up your engine or even changing the spark plugs – has become an almost impossible project for anyone, except the highly trained automobile technician. Today nearly every aspect of your car is aided or controlled in some manner by a computer. Digital radios with CD players, climate control systems, cruise control and pollution control devices are just a few...

1

Real Estate Appraisers in 2011

Now that we are entering the new year, real estate appraisers in any U.S. market must start looking to increase their marketing efforts and reach to find new clients. Although the last few years have been difficult for any real estate profession, there are always new opportunities to be found. We are certain that 2011 will be a stability year, housing markets are finding footing and there have been increases in home buyer demand throughout the country. Home inventories are higher than ever and prices are the lowest we have seen for a decade. Whenever the economy is shifting and...

xml sitemap