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Expanding Your Appraisal Reach

May 8, 2013

Are you a real estate appraiser looking to expand your skill set? You’re not alone. During the Great Recession, many real estate appraisers found that their flow of business ground to a halt. Some real estate appraisal companies were not prepared for such an extended downturn in the real estate market and were forced to close their doors. Some independent appraisers were unable to make ends meet and were forced out of the industry entirely. It was a case of having too many eggs in one basket; if real estate appraisal is all you do, and the real estate market tanks, you don’t have a lot of options. A lot of hard lessons were learned after that bubble burst.

Some appraisers, though, had the foresight to diversify their portfolios of appraisal services to bolster their businesses, including focusing on machinery and equipment appraisal to meet the market demand for these services.

Expanding your business to include business valuation, certified machinery and equipment appraisals, and asset verification services allows you to tap into a whole new market. There is always a demand for these machinery and equipment appraisals from lenders that need to ensure that their business investments are sound and that they can recoup their money should a client default on a loan.

By obtaining a certified machinery and equipment appraisal, lenders can make better, more informed lending decisions by evaluating the equipment a loan recipient wants to buy or ensuring that a business’s machinery and equipment can be held up for collateral.

If you’re interested in taking that next appraisal step, contact the NEBB Institute today!

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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