What's the big idea?
Appraisal150 offers home appraisal services at significantly discounted prices. By automating the ordering, delivery, and scheduling process Appraisal150 has been able to lower time spent and overhead costs of each appraisal making it possible to cut cost of services by as much as 50%. This most recent business model has already been live tested for market feasibility and acceptance in the West Michigan area. At present many of Grand Rapids top attorney’s, Realtors, & bankers, consistently refer Appraisal150 to their valued clients.
Describe the nearest player in your field.
Online services such as Zillow & CyberHomes. These are online, automated, algorithm based valuations based on publicly available data. You simply cannot estimate a home’s value without seeing it! Homeadvisor is an online referral network that shares some similar characteristics with Appraisal150.
How are you different from that player?
Appraisal150 is a network of many independent licensed appraisers. Our website utilizes common sense tools that put the homeowner in charge throughout the process. These appraisals are full interior/exterior inspections with the same detail, and quality demanded by banks, and our courts.
How does this idea scale into a big business?
Many times you may be required to pay for an appraisal on a home (avg cost $350), wouldn’t you prefer to get the same report for half the price? Several alternate revenue streams have also been identified, but only after a functional comprehensive website is created can they be fully explored.
Why are you the one to run with this idea?
I have been a full time appraiser for 15 yrs, as well as pursued various other entrepreneurial ventures for over 25 yrs. Since developing Appraisal150, I have made great connections and learned the important early lessons. I have invested over $15,000 of my own income and am willing to invest more.
What is a $5,000 experiment you can do to move your idea forward?
Find a reliable, local programmer, to re-design a new website. Re-name/re-brand company to AppraisalSave (better SEO, wider range of appeal). Appraisal150 is already profitable, well received, and has generated a great following in West Michigan. It’s time to introduce Appraisal150 to the nation!