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How many appraisals can you do in a month?

Discussion in 'General Appraisal Discussion' started by Lee in L.A., Jan 8, 2010.

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  1. Lee in L.A.

    Lee in L.A. Elite Member

    66
    Jan 24, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    I think I may have seen a similar questions before, but not finding it in a search, so here goes.

    Also I have a story.

    Assuming these are all residential SFR or condo properties, familiar areas, not too far from home, nothing too weird. I know it'll never happen.

    How many could you do in a month? On a regular basis, month after month without excessive OT. More extraordinary assumptions. :leeann:

    I ask because the questions was put to me today by a recruiter from a big company we all know. I don't want to say who. Saw a few staff jobs online at different places, and decided to apply.

    So, I answered 30 appraisals or so, it varies. And looking back at some old job logs that's a good average when I was busy busy, most months were in the mid 30's. I was staff at a bank, and had a small area, worked hard trying to do the 40 they wanted, 2 a day! I'd say that's cranking pretty hard. :new_llying:

    Anyway, the recruiter said they were looking for more like 45 - 50 a month. Example: 50 x 6 hours = 300 hours. :Eyecrazy:

    I wondered if they were looking for a lower quality / less detailed type report. Was told they want quality AND production. Have doubts I will hear from the local manager. Maybe there's a system that allows you to do a proper job in 3 hours or so, but I've not heard wind of it. Drive time alone would kill around here. I'm a bit stunned. Or maybe it's this damn cold in my head. :peace:
     
  2. Lloyd Bonafide

    Lloyd Bonafide Senior Member

    0
    Jan 15, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    2 quality reports or slightly more, completed every weekday - I don't think that's remotely possible these days, unless maybe you were working 50 hours or more every week, (not including time spent goofing off on the internet,) plus all of the assignments were very close by, say within three or four miles, so you were constantly cloning reports from the exact same neighborhood, and re-using comps over and over again. I don't know if anyone works in that small of a radius.
     
  3. panappr

    panappr Senior Member

    3
    Dec 5, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Agreed... not sustainable.... You'd be burned out in 2 months even if it were... As appraisals got more difficult to resolve and analyze I expanded my reports to the point of only being able to do 4-5 a week comfortably, but then again we were paid well. 20 years ago I could knock-out 2 a day, that was the quota at World, and pretty much every lender. I'm trying to imagine 40 or 50 or even 1/2 that now, seems unconscionable.
     
  4. Mejappz

    Mejappz Member

    0
    Dec 16, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I agree with both pan and Lloyd. Four or five a week seems tops for me as well even though lately I have been doing about three. Before when fees were resonable ($350.00 to $400.00) reports were shorter and the market was not as crazy I might be able to squeeze in another. More than this seems impossible to do. That is why it is imperative that we get our fees back or that we are asked to do less. The current process is not sustainable.
     
  5. Michigan CG

    Michigan CG Moderator Staff Member Moderator

    160
    Nov 1, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Michigan
    I could do four a week, if I didn't have distractions. I write long reports, get assessor data for all sales and verify all sales with Realtors or owners.

    If I were REALLY organized and had a good system in place I could write four commercial appraisals per month.

    The four commercials per month pay a lot better than the four residentials per week.
     
  6. Doug DeMars

    Doug DeMars Senior Member

    0
    Mar 20, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Lee-
    I think we're on the same page. Recruiters are not tuned in to how long it takes to do a report today. It really wasn't that long ago (4 or 5 years ago?) when I could crank out 2 a day without breaking much of a sweat. Comps were plenty...REOs and Shorts were not yet on the horizon. 1004MC...what's that? It seemed more than the exception than the rule when an UW read a report.

    The markets are much more complex. Even a 'simple' purchase appraisal with no 'value problems' require extensive narration. Market Conditions require full explaination. Etc, etc...

    Personally, I like the more strict environment of the lending community...maybe not some of the excesses with stupid stips. But I rarely get conditioned on my reports due to my detail. I average a full working day to complete a report now. And that's just fine...but the pay is no longer commensurate with the effort reports now require.

    Unless I'm doing cookie cutter reports within a 5 mile radius from my house...45 to 50 report a month is just not going to happen. Many of these 'recruiters' that you speak of and their ilk are just not plugged in to how many hours an even 'half-way' decent report takes.
     
  7. jay trotta

    jay trotta Elite Member

    11
    Feb 8, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Connecticut
    Don't know your area, but here, that figure would be impossible; folks that are not in the real world ask for everything because they have no understanding of what it takes to do the job correctly.

    Would agree with everyone else, it's seems unrealistic. I have dwindled my work down to 3-5 per week, due in part to the lack of real data available and the required work to splain the comps used. Working on an Estate, the other half has been in the real estate (agent) business for some time and is getting out. The small town she works in has 144 agents and there was recorded only 3 sales for the last 6 months.......$.29/agent ??, needless to say she is getting out of the business.
    Working in an office atmosphere, under a salary, one looses perspective of the real world and therefore, their concept is skewed to their work room. Our field job allows the expansion of daily information (real) not stuff that makes newspaper noise.
     
  8. Ray Miller

    Ray Miller Elite Member

    0
    Feb 20, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Wisconsin
    Well to start with I don't work urban and suburban areas. Most of my orders are for rural or rural towns.

    1. Drive time can average four to eight hours for the subject.

    2. Drive time for the comparables can average another two to eight hours.

    3. Verification of subject and comparables at township, county and state offices, homeowner association, etc can take four to eight hours.

    Summary you can have any where from two days to four days in an average report.

    Run into problems you can have five days to a week and a half or better into one report.

    So on average now two to three appraisals a week is about all I can handle.

    If you are doing FR’s or enhance FR’s you can double that time frame.

    If your doing an ERC about the same time as an FR.

    Sales are getting far and few between in a lot of the rural areas I cover, so now you may need to go 30/40 miles and 18 months in several directions to get comparables. Cover as many as three counties and untold number of township. They you write a book about why and you get the stip I got yesterday to find a comparable with in five miles and 6 months with similar GLA and room count as that of the subject.

    In rural areas, you may need to draw data from four to six MLS data bases which runs your expenses up. You have more gas expense because of travel time and distance. Your not able to route two or three appraisals now for the same area. So this drives up the cost of each appraisal. You lack high speed internet, you need multi line phones to handle the computers, fax and voice phone systems.

    So why does everyone expect the rural appraiser to work for the same fee’s and have the same turn times as those of the urban/suburban?????

    In my opinion and those of my CPA the rural appraiser should be getting in my case $700 to $1200 per appraisal report for average appraisals. After all I have been offered a range riding job or wrangler/packer job that pays $30+ an hour on a 4 day/10 hour work week, all expenses, retirement account, insurance, holidays off or double pay, vacation pay, sick day pay and five personal days with pay. The only risk I take on is a bronc or mule kicks me, we fall off some trail some where, we might get hit by lighting, freeze to death, an old herd bull takes a dislike to me and my horse, a G-bear needs dinner. Those are minor things compared to state appraisals boards, lawyers, banks, lenders and AMC’s in the appraisal world.

    Full retirement is really looking good come snow melt and grass turning green.:clapping:
     
    Last edited: Jan 9, 2010
  9. leelansford

    leelansford Elite Member

    44
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois


    And I want Peace on Earth.

    In general, neither will be coming anytime soon.
     
  10. stangtime

    stangtime Senior Member

    5
    Jul 19, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    I agree with the above - not realistic to do 45 to 50. Fifteen years ago I could do more per day. The forms were shorter, the requirements less. The stress factor in trying to do 45+ would be brutal. Three to five per week feels about right around here.
    Dan
     
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