How To Help Your Appraisal Business Weather Inflation

by | Jun 29, 2022 | Appraisal articles

In March of this year, inflation hit a 40-year high as consumer prices rose 8.5%, which has climbed steadily for the last five months. The cost of gasoline, groceries, rent, and other goods surged, and although we could be hitting the peak, the climb down may be slower than anticipated.

Business owners across North America are looking for ways to weather the storm, appraisers included. Our team works with thousands of appraisers each month and puts together tried and tested tips to help your office continue to succeed – even during economic uncertainties. 

Cut costs by going paperless. Use the tools and technology available to help you go paperless. With services like Dropbox, GoogleDrive, and of course Anow, you can have all your appraisal reports, files, and supporting documents stored online. This reduces wasted time, ink, and paper.  

Streamline processes. Automating your workflow will save time, freeing you up to complete more reports, drum up new business, and network with peers and potential clients. Here are a few ways to improve your business processes:

      • Eliminate data entry.  Import data from Public Records and MLS right into your comps. Alternatively, collect all inspection data on an app that feeds directly into your appraisal report form. To learn more, contact your appraisal software provider directly. We can assist you if they do not have what you require.
      • Automate client messaging.  Anow can automatically send text and email appointment reminders to the contact for property access. This lessens “no shows,” saving time and money! With Anow Connect, your clients receive automated email updates anytime status changes. Phone calls and manual email updates are a thing of the past.
      • Reduce distractions. Set aside blocks of time for managing emails and phone calls. Close your email and other internet browsers outside of that time block to stop any alerts. Android and iOS offer versions of “do not disturb” to turn off notifications on your mobile device, helping you stay focused.
      • Have your schedule and driving route readily available before you leave. Anow can show your schedule at a glance from anywhere, including updates and changes.You can even map the most efficient route to your comps.

Get rid of your clipboard. Anow’s mobile inspection app can also help ensure accuracy with photos, sketching, data collection, notes and more. It reduces data entry time and prevents the need to reinspect a property or get additional images. You can take as many photos as you want in the app and delete what isn’t needed. Lastly, you can complete reviews or desktop appraisals that don’t even require an inspection – cutting down on driving (and gas expenses – the main inflation culprit) substantially! 

Nix the brick and mortar office. Have you considered lessening overhead costs by moving employees to remote work? Since the pandemic, there has been a drastic increase in companies working remotely. This can help your appraisal business eliminate expenses like lease fees, utility bills, added mileage/gas, driving to the office and more. 

Work with lenders and banks directly. Sign up here if you’re not already part of Anow’s Marketplace. It’s FREE to have a profile and gain an opportunity to work with lenders directly. It’s no secret that eliminating the middleman often leads to appraisers making more money. In a shifting market and when costs are increasing, making more per appraisal is essential. 

Raise your fees marginally. You deserve a raise! Charging just $5-10 more per assignment may not seem like a lot, but over the next twelve months, it could add a nice cushion to your savings or give you extra money to help cover the increased cost of living expenses. At 40 orders a month, you’d be increasing your monthly revenue by at least $200.


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