Taking courses right now

[crusader 83]

Hi all,
I just began the 150hr pre-licensing courses, but I am uncertain of the sequence of events that lay ahead of me in the coming months. When does the 12 month clock begin ticking on the experience hours? I assume I must complete the courses and pass the exam before accumulating but I am not sure, Any clarification is appreciated.

I have the appropriate college credits needed to pursue the Cert. Gen. lic. but my current plan of attack is a step approach; obtaining the basic license, jump to the cert. Res. then get the Cert Gen. However I don't know if the experience hours are cumulative or independent at each level. In other words do the 2,000 hrs required for the base license transfer or apply towards the Cert. Res. lic requirements or do I have to accumulate an additional 2,500 hours? Same question would apply for the Cert. Gen. ?

Would it make sense to go directly for the Cert. Gen. courses and exam?

Any suggestions/recommendations would be greatly appreciated.

 

[baybay13]

It has been a while since I went through the process. (1999). It was different back then. Only 500 hours needed. If your goal is to be a CG I would bypass the residential lic. My next question is the most important: Do you have someone to mentor/train you? If you don't, my advice is to find someone before you commit to school and paying the money. I know guys who went to school when I did and never found anyone to train them. They lost motivation and forgot the class room training because they could not apply it right away.

 

[baybay13]

Also, the basic residential lic is pretty useless. If you are doing lending work (AMC's) You can not even work independently....you would need a CR signature due to AMC requesting only CR'S. The industry is suffering right now also. More rules and regulations making your job more challenging, time consuming with more liabilty. AMC's taking half of your fees and pushing for quick turns times which does not give you time to produce a credible report which could get you in trouble. (Liabilty).

 

[Roy Courtney]

Many on the Forum will disagree with me on this. If my clients were AMCs I would drop out of this "profession" just as the thousands of appraisers have done in the previous few years. Please set your sites above the AMC type of work! It is garbage work and many other careers are better! Just my $0.03, some will differ! Good luck!

(Let me say it is garbage work in my area, it may be different for some in other areas!)

 

[baybay13]

Roy,

You are right. I moved to the Washington DC Metro last year. I just got my Lic, E&O, MLS set up. I have a master's degree and was working for DC Govt. I do not want to work with AMC's!!! My new wife has a couple lawyers in her family....I will talk with them about doing divorce work. All this will be part-time supplemental work.

 

[baybay13]

Also, I am from Wisconsin (Go Packers!) There is more residential work in this area. Most folks have good paying Govt jobs. All the appraisers I spoke with are swamped, (Even during the holidays-winter.) They work with AMC's 7 days a week 16 hours a day. $200. per job. They have very complex properties here. (Large, historical homes) You do not see 1000 sq ft ranch style homes here. What is sad the appraisers are not getting C.R. fees for their work, if they ask for more money... they get dropped!!!

 

[DMZwerg]

If your goal is to be a CG I would bypass the residential lic. My next question is the most important: Do you have someone to mentor/train you? If you don't, my advice is to find someone before you commit to school and paying the money.

An appraiser is much more likely to get hired by a CG directly out of college (or before) then trying to follow the step program as most CGs don't want an apprentice with bad habits already firmly ingrained. Find a mentor first, then contemplate going further.


A for the LR license, what is the point? CR is more hours & training but is not as restrictive.

If you already completed training you may want to consider remaining non-licensed and just go for a designation (AI, ASA, ASFMRA) and specialize in non-mortgage work (for now at least), maybe using a real estate sales license for employment as you look for clients and/or a mentor.