I'm Walking Away

[bnmappraisal]

Yes, totally agree.

Actually I would advise most people to sell real estate. It seems far more reasonable, with less time and money spent to try and make a go as an agent for most people. As a broker, I know this first hand. I made a lot more $$$ selling real estate than I do appraising real estate. I just got burned out on it. Doesn't mean I won't switch back one of these years.

And I've also told many people the same

I, personally, even contemplated the two (appraising vs sales) but honestly the "selling point" (no pun intended) for me between the two was, to me, appraising seemed to offer a more stable income stream.

My thought process (and still is) was/is "people always want to know what their house is worth" (refi, sale, estate, divorce, etc) vs people who want/need to sell their house

I know the agent side can be a lot more lucrative depending on the transaction (% vs fixed fee), but I also know there are a HUGE amount of agents in my market. Although there are also many appraisers in my market, I still find this side much better
(Side Note: I've given up on the "volume guarantee" clients - literally been there/done that - there's better out there for more than $250-300)

 

[TRESinc]

I, personally, even contemplated the two (appraising vs sales) but honestly the "selling point" (no pun intended) for me between the two was, to me, appraising seemed to offer a more stable income stream.

My thought process (and still is) was/is "people always want to know what their house is worth" (refi, sale, estate, divorce, etc) vs people who want/need to sell their house

not to mention there is a lot more @$$ ki$$ing involved with being an agent and i'm all out of chapstick!

 

[Tru Red]

not to mention there is a lot more @$$ ki$$ing involved with being an agent and i'm all out of chapstick!

Arse liking? It's a separate class in obtaining one's GRI designation.

 

[Michael S]

I've basically come to terms that this career is not a good fit for me. I just can't grind out reports. I get too focused on producing A+ quality reports every time and that doesn't pay the bills. Case in point, I'm currently about a week late on a bowling alley appraisal and have another report due in a couple of days that I've hardly touched. It's just not worth the stress anymore.

I've got a couple of leads on jobs in the banking industry that I'm pursuing. Had a meeting last week that went well and it sounds like I'd be a perfect fit for a commercial underwriter position that should be opening up soon. Pay will probably be at least what I'm making now, if not more, and no more working nights and weekends.

I've seriously considered just putting in two weeks notice even before I get another job lined up. We've got enough saved up to last 4-5 months and my health insurance is through the National Guard anyways. Very tempting to just walk away right now.

 

[hastalavista]

I've basically come to terms that this career is not a good fit for me. I just can't grind out reports. I get too focused on producing A+ quality reports every time and that doesn't pay the bills. Case in point, I'm currently about a week late on a bowling alley appraisal and have another report due in a couple of days that I've hardly touched. It's just not worth the stress anymore.

I think we all get into that space at one time or another.
But it sounds like this isn't a temporary rut for you; I'm sure you've thought about it long and hard.

I don't know how old you are, but I'm going to guess that you are young enough where a career change isn't necessarily a one-way trip. You'll still be in the general industry (real estate/finance) and you can always jump back into the appraisal profession if you get the urge (or lose a bet! ).

If you do decide to test other waters, best of luck to you in that endeavor!

Denis

 

[David S. Roberson]

"people always want to know what their house is worth"

That's funny.

 

[Michael S]

I think we all get into that space at one time or another.
But it sounds like this isn't a temporary rut for you; I'm sure you've thought about it long and hard.

I don't know how old you are, but I'm going to guess that you are young enough where a career change isn't necessarily a one-way trip. You'll still be in the general industry (real estate/finance) and you can always jump back into the appraisal profession if you get the urge (or lose a bet! ).

If you do decide to test other waters, best of luck to you in that endeavor!

Denis

Thanks Dennis.

I'm only 33 so pretty young by appraiser standards.

I've got over a year before my license would come up for renewal and for the time being I would probably maintain it for at least one more cycle no matter what just because it took so much to earn it. After that... I'd just be another former appraiser who still works in or around the real estate industry. I know a few brokers and developers that were appraisers at one point, or at least trainees.

 

[Tru Red]

I've basically come to terms that this career is not a good fit for me. I just can't grind out reports. I get too focused on producing A+ quality reports every time and that doesn't pay the bills. Case in point, I'm currently about a week late on a bowling alley appraisal and have another report due in a couple of days that I've hardly touched. It's just not worth the stress anymore.

I've got a couple of leads on jobs in the banking industry that I'm pursuing. Had a meeting last week that went well and it sounds like I'd be a perfect fit for a commercial underwriter position that should be opening up soon. Pay will probably be at least what I'm making now, if not more, and no more working nights and weekends.

I've seriously considered just putting in two weeks notice even before I get another job lined up. We've got enough saved up to last 4-5 months and my health insurance is through the National Guard anyways. Very tempting to just walk away right now.

I went the exact opposite way. From being a VP/SBA Loan Officer at two banks (from 1990 to 2006) to selling real estate then to being an appraiser. Banking was a good job/career. I learned a lot. The problem I had in banking was the two local/regional banks I worked for merged with larger banks that had their own SBA staff. You won't get rich in banking (or appraising) but it will generally pay the bills. Best of luck!

 

[Terrel L. Shields]

@Michael S you might try valuation within a bank, as a review, compliance, or appraisal manager. Loan Officers are not well paid often. Another avenue is larger companies like Wallyworld who have large commercial holdings. Walmart has a very large tax department monitoring property taxes on their real estate. You have highly developed skills in valuation and the Guard. I understand your angst. It's clear from the gist of the battles I'm having with other forumites suggests quality is no longer valued in this business. Production is where it is at. The best of solid high quality appraisers are now expected to provide cut rate tripe appraisals... the sausage making Phil Crawford talks about. Low quality, inaccurate appraisals are bank normal now. They are "good enough". Pray to God that mindset doesn't get into hospitals or we'll all die.

 

[Michael S]

@Michael S you might try valuation within a bank, as a review, compliance, or appraisal manager. Loan Officers are not well paid often. Another avenue is larger companies like Wallyworld who have large commercial holdings. Walmart has a very large tax department monitoring property taxes on their real estate. You have highly developed skills in valuation and the Guard. I understand your angst. It's clear from the gist of the battles I'm having with other forumites suggests quality is no longer valued in this business. Production is where it is at. The best of solid high quality appraisers are now expected to provide cut rate tripe appraisals... the sausage making Phil Crawford talks about. Low quality, inaccurate appraisals are bank normal now. They are "good enough". Pray to God that mindset doesn't get into hospitals or we'll all die.

Talking with a local commercial lender it sounded like pay in the $65-85k range was pretty typical with bonuses if you meet/exceed production goals. Higher as you move up the ladder and take on larger accounts or work at larger banks. I had an informal meeting with the head of commercial lending for a local bank and based on my research and talking to him I think I should be able to match my current income or maybe exceed it slightly but at 40 hours a week instead of 50 or more. Plus I'll probably get some PTO and vacation which don't exist when you're commission only.