Is appraising a good career?

[hal380]

Hi Kay; A Connecticut answer. It depends. Some personality types would not do well in a corporate environment, so he/she is well served by being independent. The others don't have the self discipline to be on their own.

How does this answer your question? I think a part of your story should consider personality types. For me, no matter if it would be smarter and better to be in the corporate world, I guarantee I would not last very long and if I did I would be one of those who HATES their work and are among the walking dead.

Regards
Hal

 

[INSPECTOR]

Why do I have to live in Southern California to answer your questions?

I live in Northern California now after 38 years of breathing smoke and enduring the heat of hell.

The answer is, Yes, you can do it for 20-30 years with a decent retirement if you are smart, have lots of energy, have contacts or are willing to develop contacts in the real estate and mortgage industry, are computer litereate and have patience. You also have to invest wisely as there is no retirement program except Social Security and your own investments. You must go to school, find a mentor, work as a slave until you have 2,000 hours of appraisal experience. Then you can get a regular license. If you decide to work on your own, which I think is best, it will take 1 to 3 years to build a practice to the point of having a reliable income.

HEY MIKE, YOU FORGOT THE PART ABOUT LYING THROUGH YOUR TEETH TO KEEP THE LOAN OFFICERS HAPPY. OF COURSE THAT'S HERE IN FLORIDA. I'M SURE THEY ARE ALL AS PURE AS THE DRIVEN SNOW OUT THERE.

 

[John Hassler]

Catherine

Public sector retirement in CA has run amok in the last 20-25 years, especially during the late 1990s when the State was awash in cash and, in my opinion, the politicians gave away retirement increases to buy votes.

When it comes to the public sector, there is no "management" side to balance out the "union" pressures for more benefits/salary. The last assessor here retired 6-8 years ago. He was in his 50s I believe. His choices were to continue working, have 6-8 weeks vacation and make 100% of his salary, or retire and have have 52 weeks of vacation and get 90% of his salary. Guess what he decided? Can you blame him?

I've been appraising for 23 years and I don't see any practical way for the vast majority of private practice appraisers to have much to retire on unless they have a secondary source of income.

 

[Mike Kennedy]

Hi y'all...I should explain: I need to talk to someone who still lives and works in California, or spent his of her career in California, because I am comparing with private v. public appraisers' retirements. It's hard to compare a California government appraiser's pay and bennies with a private-sector appraiser in Nevada. No dis intendeded for out-of-staters!!!

what's a "dis"

 

[Richard Carlsen]

Beats quarterbacking/dog fighting.​

Sorry but this strikes me as a dumb question to pose for a story that means absolutely nothing. Is this what they taught you in journalism school or is this something your editor thought up?

Why not ask which business one should be CEO of so that you can get the best golden parachute.

What someone has at the end of a 20-30 year career is based on the individual, their ability to save, invest, their propensity to risk and not on their profession.

If you want to know how much a person can have, take 10 people in 10 different professions, ready to retire who all made about the same amount of money over the years and compare their net worth.​

 

[Frederick]

Is it something you can do for 20-30 years and end up with a secure retirement? If you're interested in sharing your story, and you live in So. California, please contact me. Thanks,

Catherine S.

Some things in life are not about security. I have never been the type to look for the safe way out. You can choose to live like an Panda Bear at the zoo and be well fed and safe or you can live on the edge, not knowing what is around each corner but having confidence in yourself and your abilities to know that whatever the challenge you will prevail.

If it is safety and security that you desire this is not the profession for you unless you want to be a government drone and have your life managed by petty beaurocrats who have risen to positions of authority over you through longevity rather than ability.

To be the captain of your own ship and to live and die by your own mistakes is not for everyone but nor is it for everyone to be the servant of others to be cast adrift at their whim.

To be an independent appraiser means that you make decisions in the lives of other men, they don't make decisions in yours. You are paid what you are worth and your success or failure belongs to you. Few men are willing to face that reality.

 

[Blueprint]

It all comes down to how bad you want to be an appraiser. It is tough as nails to get in to appraising right now. Only the strong with a college style education will survive in the long run in this market.

 

[Mile High Trout]

Appraising is awesome, if you know how to run your own business. I'd reccomend running another small or private business first.

Appraising requires very strong sales, negotiating, logic, problem solving, math, people skills, and computer skills. Most of all you should have an honest set of ideals & morals to be an appraiser. If you have ever left someone behind, in pursuit of your own interests, appraising will create a lot of conflict for you. You will be presented with the choice of doing what is right, or not making any money that week, or two, or three. Also if you don't know how to run your own computer network, it's going to cost you months worth of work.

Most of all, get prepared to get the short end of the stick, in trade for independance.

It's up to you, I'd rather make less, and answer to only myself.

If you do not have a support structure, you will be pressured into taking 25% fee work, and will not be able to take the appropriate time to gain acceptable client bases.

If AMC's pass through with the HVCC, appraiser pay will be cut 50% on average, across the board.

Like any profession, it's best to go where there is a need. Certified nurse shortages are causing rising payscales in those industries. Whereas previously lax licensing standards have led to an oversupply of appraisers, and pay scales are decreasing.

There's always room for a bad appraiser to make money, that's what my E&O insurance guy told me. But it's those guys who get posted on the wall, and we draw magic moustaches on them, and peg them in the eye with darts when we get stressed. But that may just be me. Anyone still have the Saddam H toilet target buddy?

 

[Mile High Trout]

Can I get another poster here?

Can I get another poster here please? In my defense, I was just mad forum posting, and created my below post, without realizing I was in the media room...

Can I get a poster, and not just readers here? Give it to me. I'm ready.

 

[apprscott]

There is only one problem most have not addressed here. The cost of performing an appraisal today versus 10 years ago, or better yet 2 years ago. My states licensing fees have risen, the e & 0 insurance continues to rise. Yet I am paid the same per appraisal that I charged almost 6 years ago when I started. Problem is I really like appraising and you are your own boss, lol, until the underwriter reems you.... But one new problem is the cost of fuel 3 years ago it was $2.oo per gallon, now itst nearly $4.oo. So, guess what you are spending twice the amount of fuel yet you get the same fees. I will guarantee that if everyone on here is honest, they have not raised their fees in years. There is one big reason. If you attempt to raise your fees, see how quickly your phone stops ringing and your fax gets dusty. In fact I have brokers wanting to know if Ill take less on certain assignments because certain borrowers know the market sucks right now and appraisers are hurting. So, here is the quandry, do you suck it up and keep fees the same, even lower in some cases, or be firm and get no work. It is a quandry. I keep plugging away and make less each week. What else will you do? If anyone knows the answer to this problem, by all means tell me. I do know this, I keep working, even thoug it is at half of what I did last year. At least I am surviving, many of my friends in the industry are really hurting and several have hung it up. I even had a vet who just came home wanting me to be his supervising appraiser. I had to be brutally honest and tell him all the dirty truths that schools and people who make money teaching classes to these wannabe appraisers will not tell them. You will starve for the first two years of apprenticeship, you will spend a good deal up front on classes, software, licenses, insurance and other miscelaneous expenses, but here is the real kicker. You will also be responsible for getting your own clients. Then he says "what?". He had no clue. "What are my own clients" he asks. I tell him the truth, that they are the ones who you can never find or ever get work from. I tell him, how hard it is if you have no contacts, ie bankers, brokers, real estate agents, etc. I felt sorry for the guy because he had visions of making it big in appraising. Where did he get that idea? Anyway, I never heard from him again, and I hope he picks another profession. Now that I am in it, I am doing ok and will continue, but you better believe if the county assessor job opens with benefits, vacations, insurance..... well you know what I will do. Thanks for letting me rant.