People reluctantly shell out over $1,000’s of dollars for attorneys and professional property tax appraisers to represent them to appeal their property tax with no guarantee of success or winning. A property tax consultant is a lifesaver! It costs the client almost nothing to assess their options.
Fees are charged on a contingency basis, which means, if you lose the case, the client risks nothing. Since there is no risk to the client or homeowner, they want your service. Finding potential clients is mind-blowingly simple. Some charge an up-front consultation fee. Many do.
The real estate appraisal system is rife with errors. Valuations are constantly in flux and the tax assessor’s office rarely does personal valuation visits. They leave it to other blanket assessor services. This is just the tip of the iceberg and it opens the door for a business opportunity that helps others in a meaningful way.
When a valuation for a jurisdiction is required, the town sets out on a public bid and generally, the lowest bidding property valuation broker wins. You can bet your bottom dollar that the broker who won the bid needs to make a profit.
Little time and money are allocated on a per-unit basis for the appraisal. Sometimes a raw crew is doing the work. There are time restraints on his crew for the mass evaluations broker to earn his profit. Errors are rampant. Therefore a dire need for appealing over-assessment errors.
In this day and age, those who can use some extra income can work this service as a work-from-home-based business or an add-on part-time business.
Since there is no free lunch, it can be worked in conjunction with another income stream such as the mortgage brokerage trade, real estate, insurance and similar consulting industries. It can be worked during slow times or just to do something challenging and different to help turn the table by helping correct regulatory errors.
Default Alt Tag for this Page Residential Property Tax Appeal School
Residential property tax appeal opportunities abound. You’ll find you’ll never run short of finding bad assessments to correct, not to mention those referrals looking to reduce their property tax over assessment.
Expert studies indicate that the percentage of assessment error that exists is high. It’s clear as a bell that you’ll never lack clients.
As long as property taxes are levied and that real estate market valuations fluctuate, you’ll find an overabundance of cases where the assessment valuation against a homeowner is flat out wrong. Championing that tax appeal is an opportunity to be of great service.
The Bigger the Tax Bill, the Greater the Reward
Default Alt Tag for this page Commercial Property Tax Assessment Training.
The commercial side of the business deals with larger properties and, needless to say, larger commissions. Commercial valuations are based on an Income Approach. If they earn less net income than the previous year, their property tax assessment should be less. You’ll learn about the opportunities that exist in this area of specialization.
Strip malls lacking tenants may need to appeal an old assessment. Apartment house and complexes vacancies, many small to medium businesses that might be suffering could file appeals when the facts warrant. Again, a business valuation is based not on a Market Value Approach but an Income Approach.
Fact is, unlike residential properties that use a comparable property approach, a commercial property valuation is made on an income basis. And guess what? If cash flow to the commercial property is lacking business or tenants, you might have found a client who could use significant savings!
Give others the tax break they deserve. Provide a service where practitioners are scarce and the results are valuable.
You can learn more about this unique side gig here: PROPERTY TAX CONSULTANT HOME STUDY COURSE.