Creating Bang-Up Presentations

published in the Accredited Appraiser, Spring 2000

If any part of your appraisal income is derived from local lenders, you undoubtedly have found yourself having to meet with these folks in an attempt to sell your services. How would you grade the quality of your presentation? Did you take the time to put together a special marketing packet for your prospect? Appraisers, as with any service profession, are in the business of sales - like it or not. And the truth is that if you do a shoddy job at selling yourself, you can't expect to grow business without first learning a few things about sales. The following pages explore the task of preparing an information packet to leave with potential clients, as well as some tips on making an effective presentation. We'll assume for purposes of this article that you are preparing to make a presentation to a local bank.

A Lasting Impression 

Let's start with the actual presentation packet. It's a good idea to prepare a custom information packet based upon each client's needs. In your initial conversations with a prospective client, try to get at least enough information to ascertain their appraisal needs so your information packet can be customized as much as possible. Keep a good ear for what services they desire that they aren't getting from their current appraisers. The result of these discussions will help you tailor your information packet to address those needs. To give you an example, here is a list of the things that I typically include in my information packet to prospects.

Itemization of services

This is a list that includes the types of appraisals you can provide. Be sure to include an exhaustive list, as many clients won't automatically assume you can provide the typical range of services. Some examples include: Full and limited appraisals on the 1004, Drive-by appraisals on the FNMA 2055 , Review work, and Consulting services. Some of your clients will refer to this list rather than calling you personally with inquiries. Because of that, it's best to make your list exhaustive, rather than forgetting something. 

Any published articles

If you've had any articles published, include copies of them. It works especially well if you reproduce the spreads of these articles in miniature, all on one sheet. You can do something similar if you've taught any classes, or otherwise produced some sort of lengthy literature. Just reproduce this information in miniature and lay them out on one or two pages.

Samples of other advertising pieces

If you routinely use direct mail for promoting your business, include copies of this literature in the information packet. I do a lot of postcard mailings using four-color postcards, so I usually include two or three of my most recent postcards in the packet.

Business cards

Include more than one business card. Include a stack of business cards so that the recipient has enough to pass out himself. Consider having a number of different formats of your business cards printed. Are you marketing yourself to your clients simply as an appraiser, or possibly as an appraiser and consultant? Don't let the title on your business card pigeonhole you into a narrow range of services. I usually have my business card printed in a tall (portrait) format as well in a lengthwise, landscape, format. The portrait style looks better overall and I use it to hand out to clients. But the landscape format looks better when attached to the front of a presentation folder, so having both layouts works best overall.

Service area map

This is very important. I found through-out the years that even my regular clients still have questions as to my service area. A map depicting your service area is usually better than a lengthy listing of the towns you cover. Or better yet, include a map as well as a list of towns that you cover. Because my service area occasionally changes, I produce the map directly from my inkjet printer onto high quality photo paper. I print a list of towns I cover on another page and glue both together back-to-back. I then run it through a laminating machine so it becomes sturdy and durable. I then punch a hole in the upper corner and attach a rubber luggage loop through it. Because many of my clients work in workstations with fabric divider walls, it allows them to hang my map somewhere in their work space.

Order forms

Conventional direct mail wisdom tells us to always include some sort of action device that allows the customer (in our case, the client) to place an order. Some sort of order form should always be included, to serve as a form of motivation - even if the client usually uses his own order form. I typically ask the client to fill in the client information fields on the form so I can ship them a stack of customized forms a few days later. I also ask the client if anyone else would be interested in personalized order forms. That allows me to possibly get introduced to someone else in the bank that would have a need for my services.

Client testimonials

These work out great, especially if you include testimonials from local clients that are known by your prospect. How do you get client testimonials? First of all, provide outstanding service to your clients. Next, ask for them. If a client tells you they are pleased with your services, ask if they can provide a testimonial. If they say yes, you can even interview them over the phone, type the testimonial yourself, and provide it to them. They can retype it onto their letterhead and supply you with a copy. The testimonials you see used in advertising are rarely unsolicited. You actually have to ask for them.

White papers

These are becoming more common-place, especially in technology-related fields. What is a white paper? It is a report prepared by you, the expert, providing your expert knowledge on a subject area. Try drafting a 3-5 page report on current subject areas that may interest your client.. we all know there are many appraising topics that our clients barely understand. A few sample topics for you to consider include EDI, USPAP, and complete versus limited appraisals. Just remember that you'll want to have white papers available on subjects that interest your clients, not necessarily just what interests you.

Giveaway premiums

You know the stuff- pencils, pens, stickers, calendars. If you are on a tight budget, consider getting imprinted pencils. Their cost is minimal as compared to many other forms of imprinted products. It's always best if your premiums are related to your business as directly as possible (like using a tape measure as a premium). A good friend of mine orders imprinted desk nameplates for his clients. He gets a list of the employees and their titles at the banks he works with. The nameplates are personalized for the recipient but also contain his business contact information on the back side. When the recipient displays the nameplate on their desk, they are forced to look at his name!

Wrap it Up

I put all of this information into a nice linen pocket folder. There is such a good choice of high quality folders now available at office superstores. Just stay away from any styles that would be more reminiscent of something a grade school child would use. Some folder manufacturers also supply large mailing envelopes that can hold their folders. These mailing envelopes are usually of a higher quality than a typical mailing envelope used for day to day business. I use a folder color that looks especially nice with the colors on my stationary and business cards. If you shop for folders from a large office supplier, you'll have a wider range of color choices to match your printed identity materials.

Polishing Your Presentation

While the information packet of materials will be left with your prospective client, you have the greatest chance of getting a new client during your face-to-face meeting. In fact, your overall behavior and persuasiveness will determine whether you either get a new client or leave empty handed. What sort of things should you talk about during your presentation? While there is a lot of flexibility here, and every prospect is different, here are at least some major topics that might warrant a discussion.

Ask about their present appraiser history and what they like/dislike

This is usually one of my first questions. I want to find out which appraisers they are now using and their level of satisfaction. I try to not be negative toward their existing appraisers on a personal basis, but I certainly want to see where I can provide better service - personalities aside.

What can you do that would make your service better than what they now receive?

If your prospective client has invited you to his office for a presentation, he must certainly be hoping that you can provide some level of service that is better than what he is currently receiving. This is basic sales 101. Never leave the office without having asked the prospect what he is looking for, so you can be sure you are fulfilling his needs. After all, fulfilling your client's needs is what fills up your bank account.

Your history and introduction

Once you know what the client's present level of satisfaction is, now is the time to provide some background information about yourself. It's ok to provide some information about yourself that might not be directly related to your business. If you share a common interest or hobby, for instance, it may actually assist you more than you might think. This is the time to talk about how long you've been in business, how many employees you have, and other information so that your prospect gets to know who he is dealing with.

What makes you and your firm different

This portion of your talk should be specifically directed towards those service items your client is seeking. It sounds simple enough, but most appraisers will only provide a laundry list of services that they provide. Since you've already asked your prospective client what he or she is looking for, direct your conversation towards explaining how you can fulfill those very specific needs. That's the difference between simply showing up and talking, and actually selling. For example, I do a lot of EDI consulting and can talk for hours about that subject. If my client has no interest in EDI, I'll just barely mention the subject. Your prospective client has probably met with dozens of appraisers over the years. Most offer similar services and say a lot of the same things. During this part of your presentation is when you can leave behind the impression that your firm is different as compared to other appraisal firms. You want to make the impression that you can provide exactly what the prospect is needing.

Ask if the services you are able to provide will be satisfactory to the client

You've asked your prospective client about their needs, and you've explained how the services your company can provide can satisfy those needs. Now verify that your company's services are indeed what the client is looking for. In effect, you are asking the prospect if he agrees that you can satisfy his needs. If he agrees, you've basically found a new client. If he objects, it gives him a chance to tell you why he feels you can't provide those needs. This gives you an opportunity to further discuss how you can possibly earn his business. It's best to do this face-to-face rather than a few weeks later during a phone call. Try to have enough discussion during your presentation so you can get to this point-that is, have the prospective client affirm that your company can satisfy their needs.

Ask when you can expect the first order

Assuming your prospective client agrees that you can provide the services they need, ask them when you can expect to start to receive orders. This gives you a legitimate reason to call your client back in a week or so. If the person you are meeting with is not in a position to make that decision, ask who can.

Ask who will be placing the orders (can you contact them?)

There may be a number of different people you'll need to meet in order to secure the business you desire. For instance, you may have met with a vice president at a bank in order to get his permission to put you on the approved list. But is he actually the person who makes the decision on who to use on that list? Find out by asking who is responsible for actually placing the appraisal orders. It's actually best if you can arrange to meet with your initial contact (in this case the vice president) as well as the person who will be placing the orders (perhaps a loan processor). In reality, you may need the polite urging of the senior position at the bank to encourage the subordinate to use your services. The loan processors probably already have their favorite appraisers and you'll need to find a way to get orders once you are on their approved list.

Ask if any other departments or branches of the bank also have a need for your services

It's much easier to secure additional business from existing clients than it is to secure brand new business. Ask if there are other departments within the bank who might also have a need for appraisals. Consider the home equity department, trust department, insurance department, etc. And ask if there are other branches of the bank in different locations that might also have a need for your services. Right now you probably have a number of clients who could possibly give you more business. Place some calls to the person you now deal with and ask if they can assist in introducing you to other people who could place orders. Many mid-to large-sized banks have dozens of departments and employees. Half the trick to getting more business is finding out their organizational structure and getting to know the people who have the authority to actually place orders. You'll never get this sort of inside information without occasionally showing up at their office and asking questions. If your business is slow right now, consider calling your local clients to make appointments to meet. You'll be much more successful face-to-face than you'll ever be over a telephone.

Try to have a specific goal when giving a sales presentation to a prospective lender client

Obviously a generic goal is that you want their orders. But try to think of a goal that is specific to your prospect so that you can tailor your sales presentation for more effectiveness. For instance, your goal statement may read, "This prospect is presently content with their present appraisers but would like to get into the delivery of appraisals by using EDI. Their present appraisers have not introduced this idea yet. Tailor my presentation to show them how my firm can set them up with a turnkey EDI operation." And think of what you want them to remember when you leave. In the case of the EDI goal, you want the prospect to be convinced that you can fulfill their EDI needs. Again, tailor your presentation around their specific needs.

Don't feel like you have to provide instant answers to the prospect's questions

When it comes to areas such as fees, it's ok to tell them you'll get back to them after you've had a chance to think about it. Why? During your meeting is probably the first opportunity you've had to find out how much volume you could expect from this client, as well as the types of appraisals and geographic areas in question. Same thing with EDI. I've set up local clients for EDI delivery and the process took maybe a half dozen meetings. We kept narrowing down their needs and discussed my fees at each point. In no way could I ever have met with them one time and said, "Here's what it is going to cost you." It took a few meetings just to find out exactly what their detailed needs were. That's the difference between just being an appraiser (which is ok) and being the owner of a firm that offers a variety of appraisal consulting services. If you walk away with nothing else from this article, just know that all of your clients are different and each will require a customized information packet and presentation. Next time business gets slow, it 's time to get out your office and into your client's offices to show them what you have to offer!

©2007 Appraisal Services, Inc.