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  #1  
Old 04-05-2007, 01:00 PM
millerappraisals millerappraisals is offline
 
Join Date: Mar 2007
State: Missouri
Professional Status: Appraiser Trainee
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Default How much an average residential appraiser makes per year

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.
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Old 04-05-2007, 01:15 PM
Em Tee Em Tee is offline
 
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Location: Bay Area, California
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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  
Old 04-05-2007, 01:20 PM
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George W Dodd George W Dodd is offline
 
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Location: Mechanicsville, VA
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Professional Status: Certified Residential Appraiser
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Keep your day job, seriously.
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  #4  
Old 04-05-2007, 01:23 PM
millerappraisals millerappraisals is offline
 
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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  
Old 04-05-2007, 01:25 PM
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Lawrence R. Lawrence R. is offline
 
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Location: Winchestertonfieldville
State: South Carolina
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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....
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  #6  
Old 04-05-2007, 01:34 PM
millerappraisals millerappraisals is offline
 
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State: Missouri
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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  
Old 04-05-2007, 01:37 PM
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Vegan702 Vegan702 is offline
 
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Location: Nevada
State: Nevada
Professional Status: Certified Residential Appraiser
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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  
Old 04-05-2007, 01:39 PM
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liznindy liznindy is offline
 
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Location: Central Indiana
State: Indiana
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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  
Old 04-05-2007, 01:41 PM
millerappraisals millerappraisals is offline
 
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Thank you, this information is helping me. Keep it going..
  #10  
Old 04-05-2007, 01:43 PM
Diego Lopez Diego Lopez is offline
 
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State: Florida
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Quote:
Originally Posted by millerappraisals View Post
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?
5% to 10% tops.

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