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How much an average residential appraiser makes per year

Discussion in 'Newbies/Appraiser WannaBe' started by millerappraisals, Apr 5, 2007.

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  1. millerappraisals

    millerappraisals New Member

    0
    Mar 27, 2007
    Professional Status:
    Appraiser Trainee
    State:
    Missouri
    I just started doing residential appraisals under a mentor (friend of mine) part time. I have not started going to school for appraising yet, but have plans to this September. I have a full time job as a network engineer making approximately 60,000 per year. I'm trying to decide if I should stay in engineering and do appraisals on the side, or work towards doing appraisals full time one day. In your opinion, how much does an "Average" residential appraiser in your area make? Let's say this appraiser has had his/her license for 5 to 10 years. How much, in your opinion, does an average Commercial appraiser make? Any comments will help.
     
  2. Em Tee

    Em Tee Senior Member

    0
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    You'd probably get more useful information asking your mentor this question since it's very "area-specific". Replies from around the country won't apply to your area.

    Best of luck to you.
     
  3. George W Dodd

    George W Dodd Senior Member

    0
    Jul 9, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Virginia
    Keep your day job, seriously.
     
  4. millerappraisals

    millerappraisals New Member

    0
    Mar 27, 2007
    Professional Status:
    Appraiser Trainee
    State:
    Missouri
    Please tell me in your opinion, what a residential appraiser makes in your area. I am wanting multiple opinions. Thank you for your reply though;)
     
  5. Lawrence R.

    Lawrence R. Senior Member

    0
    Mar 27, 2007
    Professional Status:
    Certified General Appraiser
    State:
    South Carolina
    The best I ever did as an apprentice was 40K, but the local skippy drives a Hummer and has a Harley in a trailer behind it.


    Yeah, life is fair....
     
  6. millerappraisals

    millerappraisals New Member

    0
    Mar 27, 2007
    Professional Status:
    Appraiser Trainee
    State:
    Missouri
    Here is another way to put this question. In your opinion, in your area, what % of real estate appraisers make over 100k a year? Is 100K or more per year common for a residential appraiser in your area? Do you think this is wise, or not wise thinking to possibly want to leave my day job and be a full time appraiser someday?
     
  7. Vegan702

    Vegan702 Senior Member

    0
    Feb 24, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Nevada
    Avg probably $40k-$60k for a trainee in a busy shop in Vegas, avg for a Licensed/Certified Res. appraiser on his own with a decent amount of work in Vegas is probably $120k. These are gross numbers I am stating. Some superstar appraisers I know are making $200k a year or more. If they themselves have trainees then they make a little more depending on how well trained that trainee is and how much supervision they require. Commercial I have no idea.
     
  8. liznindy

    liznindy Senior Member

    0
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Indiana
    I would guess that only the top 5% of appraisers in my area make over 100K and these are likely appraiser who have other appraisers "working" for them on a split fee basis.

    Again, this is a guess.

    If you are into appraising only for the money....I would look into another field of work.
     
  9. millerappraisals

    millerappraisals New Member

    0
    Mar 27, 2007
    Professional Status:
    Appraiser Trainee
    State:
    Missouri
    Thank you, this information is helping me. Keep it going..
     
  10. Diego Lopez

    Diego Lopez Member

    0
    Sep 11, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    5% to 10% tops.

    Appraising = lots of stress and lots of BS from lenders and mortgage brokers.
     
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