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Expanding Your Appraisal Business: Types of People to Approach

September 12, 2012

We’ve talked a lot about what those who acquire a CMEA from NEBBI can do with their new designation. They can become an auctioneer or improve their auction business or use it to add another stream of income to a real estate appraisal business. However, it has been a while since we’ve discussed who someone with a CMEA designation can help. If you are a CMEA trying to expand your business, consider targeting people who fall into one of the following categories:

Bankers and Lenders – Bankers and lenders must make sure that the company that accepts a loan has enough collateral to pay back the loan if it goes into default. A CMEA can give lenders a true picture of the value of a company’s assets.

Accountants – Accountants often rely on the book value of a company’s assets when determining value, but this isn’t always an accurate assessment. A CMEA can take into account the rarity and usefulness of an asset and can help an accountant determine how much it would be worth on the open market.

Attorneys – An attorney helping his or her client through a divorce, partnership dissolution, bankruptcy, or estate planning must have an accurate picture of the value of the client’s assets. A CMEA can help an attorney be sure that the numbers he or she is looking at are accurate.

Business Owners – A business owner simply must know the value of his or her assets for tax purposes and planning purposes. A CMEA can give a business owner a true picture of what his or her assets are worth.

If you are not a CMEA but fall into one of the categories of people who need one, look for a CMEA in your area.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

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