What's your fee for a typical summary format appraisal?  Is it on the lean side of $1,200 or healthier $3,900?  While these fees are anecdotal, based on my numerous conversations with DataComp customers across the US; it's a huge dollar and percentage spread, especially when you calculate your net profit. 

Why the difference?  Is it that your clients don't pay for your reports because of your font selection, comp write-ups, analysis, or your well-written boiler plate?  I think it has more to do with where you live and much less about your work product.  

Who's Your City?, by Richard Florida, can help you determine your city's future and likely your appraisal profession.  Per Mr. Florida's book, today's key economic factors are based on your city's talent, innovation and creativity.  The creative influence on a local economy is a new trend. Creative economies, of clustered creative talent, generate substantive increases in output and wealth.

While it's beyond the scope of this newsletter to address each city's economic opportunity, basic services, leadership, values and aesthetics and lifestyle, suffice to say it matters.  Where we live is a central life factor that affects work, education and love.  Yes, Mr. Florida even details the best cities for singles...if you're so inclined. 

So take an active leadership role in your city.  It doesn't have to be specifically real estate.  Simply contribute to it in some way, join a board, volunteer for a non-profit, donate blood or donate money to good causes.  It's all about the little stuff.  Go to the Creative Class Map to see how your city rates. 

Good things do come around.  So wherever you live, ask yourself - does the place you live fit you - make you happy and help achieve your life goals?  Your appraisal fees may be telling you something about where you live.

If you  have an appraisal "best practice" you would like to share, please forward to Jeff.