Trying to Learn Everything I can About Being an Appraiser

[tavillo11]

Hey everyone.

This is my first time posting here even though I have lurked around a bit. As you can see from the title I am mainly trying to get as much information as possible about being an appraiser before actually taking action. I have looked around the internet and have an idea of what it entails however I thought what better way than to learn about the profession than asking the professionals themselves. Hopefully this is the right place to post this.

Before starting I want to introduce myself. I am 26 years old and currently work as an elementary teacher. While I do like my career I don't necessarily love it and with a salary of about 35k per year before taxes it has motivated me to leave that profession. Money is not everything to me and I'm not necessarily looking to be rich just more comfortable at least. I am more passionate about finding the right career. No matter what career I switch to I am definitely the type of person that likes to do things right and always look to see how I can improve.

This is what I understand so far about what is needed to become an appraiser in NC. (Feel free to correct any information that I have wrong)

First take the following courses to become a trainee. In NC you usually have to take all of these in the classroom, but as of now it can also be done online until the end of March due to COVID-19.

1. Basic Appraisal Principles (30 Hours)
2. Basic Appraisal Procedures (30 Hours)
3. 15-Hour National USPAP course or its equivalent (15 Hours)
4. NC Supervisor/Trainee course

Once approved by the board you become a registered trainee and need to find a supervisor that is willing to train you to get your hours. There are three levels you can go into that include:

1. Licensed Residential
2. Certified Residential
3. Certified General

Each have different requirements and as far as I know the difference between them is mainly the types or sizes of properties they are able to work with.


With all that being said being an appraiser has really caught my interest. Here are my biggest questions and hopefully someone else looking into the profession can also find this useful in the future.

• I've heard that AI is the best for taking courses if you want to learn. Is that true for both in person and online?
• I would like to take courses online since I would still be working as a teacher to pay for all my expenses. Is McKissock a reputable place to do so?
• I understand finding someone to train you might be one of the hardest part about getting into the profession. Would you suggest to find someone before taking any course or could you potentially find someone along the way?
• What is the best way to word it to an appraiser that my intent is not to just use them for the hours and leave? I would potentially like to work there for years before even considering moving out on my own.
• What is the pay like and what does it mostly depend on? (Especially helpful if you're in N.C)
• After becoming a trainee can you choose to go straight to certified general or certified residential? Or do they go in order?
• What are the pros and cons of going past licensed residential?
• What do you think is better. Working for a company or working for yourself?
• What would you say is the toughest part of your job?
• Do you regret going into this career? If yes why?
• What is something you truly love about what you do?
• How would you improve this profession and why do you believe in improving it?

If you have any other things you would like to add or any other advice please do let me know. I understand that being an appraiser is not just for anyone and this is why I am looking for as much information as possible. Sorry if some of these sound almost like interview questions, but I truly do appreciate any responses. Thank you all in advance and I hope this is not my only post on this forum. Have a great day!

 

[Meandering]

Don't be disheartened by this but,

The best way, may be to make friends with a local appraiser first, before you invest time and money.

The mentor trainee relationship is the key to getting to certification. I you can't find a mentor you won't be alone in that issue. There are companies that take on trainees, and there are individuals, so first, sort through them and see if any of them are looking to take on a trainee. Build that relationship with them before you start classes. They will guide you on the best classes and resources to accomplish what you want to do, which, will build a stronger relationship, and add to the potential to succeed.

Also be aware that many things in appraising have become very dynamic. Some immediate, like covid, some more futuristic, like the potential of looming inflation, and the selling of accuracy of artificial intelligence to replace many humans. These things will not help you to find a mentor, or be able to maintain that mentor trainee relationship for a few years or more. That is why the mentor relationship should be the first place to start.

Good luck.

 

[KHS445]

Appraising is not a business for everyone. At times you are self-employed and other times you will be unemployed due to lack of work. Income is not steady and the expenses are all yours. You should have a decent background in math, writing, problem solving skills, real estate experience and terms, etc. The classes will get you qualified to take the licensing test and little more. Many of us have been in and around real estate, financing and appraising for 30 to 50 years and still run across things we are unsure of.

My suggestion would be to sit down with a local appraiser and pick his or her brain for a while. You may even offer to buy a little of their time. I would strongly recommend finding a supervisor you can work under prior to investing any time or expense in qualifying classes.

The hours are not going to be like teaching or most any other 9-5 type job. Many of us work nights and weekends, with the understanding that we may be able to occasionally take some time off during the day. The only benefits you have are those that you provide yourself and that along with the uncertainty of when your next job will come in or when you will get paid for the last job, you definitely need close to six months worth of living expenses in reserve.

My recommendation would be for you to continue teaching, get your real estate sales license, find a supervision appraiser and then begin taking your classes. With the fairly predictable required teaching hours, with weekends free and summers off you would have an excellent opportunity to work on your classes and build your hours while still maintaining your current employment and benefit package.

 

[tavillo11]

Don't be disheartened by this but,

The best way, may be to make friends with a local appraiser first, before you invest time and money.

The mentor trainee relationship is the key to getting to certification. I you can't find a mentor you won't be alone in that issue. There are companies that take on trainees, and there are individuals, so first, sort through them and see if any of them are looking to take on a trainee. Build that relationship with them before you start classes. They will guide you on the best classes and resources to accomplish what you want to do, which, will build a stronger relationship, and add to the potential to succeed.

Also be aware that many things in appraising have become very dynamic. Some immediate, like covid, some more futuristic, like the potential of looming inflation, and the selling of accuracy of artificial intelligence to replace many humans. These things will not help you to find a mentor, or be able to maintain that mentor trainee relationship for a few years or more. That is why the mentor relationship should be the first place to start.

Good luck.

Thank you for your response. I always knew that finding a mentor was an important part but this definitely puts that more into perspective. It looks like it will be a while before being able to start any courses.

 

[tavillo11]

Appraising is not a business for everyone. At times you are self-employed and other times you will be unemployed due to lack of work. Income is not steady and the expenses are all yours. You should have a decent background in math, writing, problem solving skills, real estate experience and terms, etc. The classes will get you qualified to take the licensing test and little more. Many of us have been in and around real estate, financing and appraising for 30 to 50 years and still run across things we are unsure of.

Being unsure of some things after 30-50 years does make it sound challenging.

My suggestion would be to sit down with a local appraiser and pick his or her brain for a while. You may even offer to buy a little of their time. I would strongly recommend finding a supervisor you can work under prior to investing any time or expense in qualifying classes.

The hours are not going to be like teaching or most any other 9-5 type job. Many of us work nights and weekends, with the understanding that we may be able to occasionally take some time off during the day. The only benefits you have are those that you provide yourself and that along with the uncertainty of when your next job will come in or when you will get paid for the last job, you definitely need close to six months worth of living expenses in reserve.

Would you say that even though you work on weekends and nights that you enjoy the work you do?

My recommendation would be for you to continue teaching, get your real estate sales license, find a supervision appraiser and then begin taking your classes. With the fairly predictable required teaching hours, with weekends free and summers off you would have an excellent opportunity to work on your classes and build your hours while still maintaining your current employment and benefit package.

Are you saying getting my real estate sales license so I can have more of a background in real estate before moving on? And yes that is one main benefit of being a teacher right now and exactly how I planned on being able to complete any courses.

 

[TMG]

How I became an appraiser: When I was young I was a carpenter building houses, which is fun but backbreaking work. I had a friend who was a BMW driving loan officer, who used a Mom & Pop shop for all his appraisals. He always told me I should check it out. I really had no interest in becoming an appraiser, until construction dried up one year (construction is feast or famine just like appraising), so he got me a meeting with this husband and wife. They were skeptical, but needed help. I did not earn any money for 6 months. I was instantly drawn to the completely different world of working with computers and microfiche (instead of getting calloused hands from my hammer, and splinters from wood). I was familiar with construction, so I picked up the field work and inspection pretty fast. It was all new, exciting, and looked like more income, so I tried very hard. After about 9 mos of folllowing the owner around, they started sending me out on my own, and carefully reviewed everything I did, and would sometimes pull the comps for me.

I was very fortunate. This was 1990, before state licensing and and there were no required classes. By the time the state licensing became reality in 1993 I believe it was, I already had all the hours, and passed my License test, then a year later tested and upgraded to Certified.

Both Mom & Pop were excellent appraisers, and Pop is now an MAI. I was very fortunate to be taken under their wing, and mentored and closely reviewed for over a year.

I have friends who stayed in construction, who are now general contractors who make twice what I make. I often wish I woulda stayed in construction, but appraising offers me more freedom and less stress than being a general contractor.

I would try to find a Certified General appraiser who does residential work. They are most likely to take on a newbie. It would be nice for you to spend a week with an appraiser, and maybe tag along on an inspection, to see if you like what you see.

It is fun going and seeing all the different houses and neighborhoods. You are basically a detective, trying to solve how much a home is worth. Every property is different, and every property seems to have at least one issue or curveball that it throws at you, sometimes several curveballs! You have to problem solve quickly, be able to think on your feet, solve puzzles, and face challenges. That keeps it interesting.

Good luck!!

 

[tavillo11]

How I became an appraiser: When I was young I was a carpenter building houses, which is fun but backbreaking work. I had a friend who was a BMW driving loan officer, who used a Mom & Pop shop for all his appraisals. He always told me I should check it out. I really had no interest in becoming an appraiser, until construction dried up one year (construction is feast or famine just like appraising), so he got me a meeting with this husband and wife. They were skeptical, but needed help. I did not earn any money for 6 months. I was instantly drawn to the completely different world of working with computers and microfiche (instead of getting calloused hands from my hammer, and splinters from wood). I was familiar with construction, so I picked up the field work and inspection pretty fast. It was all new, exciting, and looked like more income, so I tried very hard. After about 9 mos of folllowing the owner around, they started sending me out on my own, and carefully reviewed everything I did, and would sometimes pull the comps for me.

I was very fortunate. This was 1990, before state licensing and and there were no required classes. By the time the state licensing became reality in 1993 I believe it was, I already had all the hours, and passed my License test, then a year later tested and upgraded to Certified.

Both Mom & Pop were excellent appraisers, and Pop is now an MAI. I was very fortunate to be taken under their wing, and mentored and closely reviewed for over a year.

It is always very interesting to me hearing other people's stories and how they got into their line of work. Having already worked as a carpenter seems like it helped you transition here much easier. It's awesome they were willing to do that for you, but they did need the help too so I'm sure they appreciated you later on.

I have friends who stayed in construction, who are now general contractors who make twice what I make. I often wish I woulda stayed in construction, but appraising offers me more freedom and less stress than being a general contractor.

Yeah being a general contractor sounds like a ton of stress.

I would try to find a Certified General appraiser who does residential work. They are most likely to take on a newbie. It would be nice for you to spend a week with an appraiser, and maybe tag along on an inspection, to see if you like what you see.

What other types of work besides residential do they do? Trust me tagging along would be a dream to me. But looks like I definitely need to try and make contact with a few.

It is fun going and seeing all the different houses and neighborhoods. You are basically a detective, trying to solve how much a home is worth. Every property is different, and every property seems to have at least one issue or curveball that it throws at you. You have to problem solve quickly, be able to think on your feet, solve puzzles, and face challenges. That keeps it interesting.

Good luck!!

Does being an appraiser also make you more conscious about choosing house for yourself? It seems like it would. But it does sound like you are not too bored. Thank you!

 

[TMG]

It is always very interesting to me hearing other people's stories and how they got into their line of work. Having already worked as a carpenter seems like it helped you transition here much easier. It's awesome they were willing to do that for you, but they did need the help too so I'm sure they appreciated you later on.

Yeah being a general contractor sounds like a ton of stress.

What other types of work besides residential do they do? Trust me tagging along would be a dream to me. But looks like I definitely need to try and make contact with a few.

Does being an appraiser also make you more conscious about choosing house for yourself? It seems like it would. But it does sound like you are not too bored. Thank you!

- Covid shut down one friends offic bldg construction company, and he had several employees to stress over.
- Certified General Appraisers will appraise Strip Malls, Movie Theaters, Large apartment complexes, etc. We do residential properties up to 4 unit apartment blgs. Go onto the North Carolina Office of Appraisers Website (or bureau of real estate appraisers...whatever its called in your state) and look for a list of Appraisers. Certified General appraisers would have the "AG" license designation, and hopefully some contact info. Call them up, ask them if they need an unpaid volunteer gopher.
- Yes, appraising makes me aware of homes I would want. For instance, I used to think a 5,000sf Mansion is the American Dream.....not anymore. All the big houses I do are empty, and lonely. Big unused outdoor entertaining areas covered in dust. Bigger is not better. Anything over 3500sf is too big. I feel sorry for rich people in big houses.

 

[tavillo11]

- Covid shut down one friends offic bldg construction company, and he had several employees to stress over.

I can't imagine what that is even like. Then again no one say all of the pandemic coming.

- Certified General Appraisers will appraise Strip Malls, Movie Theaters, Large apartment complexes, etc. We do residential properties up to 4 unit apartment blgs. Go onto the North Carolina Office of Appraisers Website (or bureau of real estate appraisers...whatever its called in your state) and look for a list of Appraisers. Certified General appraisers would have the "AG" license designation, and hopefully some contact info. Call them up, ask them if they need an unpaid volunteer gopher.

Thank you for that advice!

- Yes, appraising makes me aware of homes I would want. For instance, I used to think a 5,000sf Mansion is the American Dream.....not anymore. All the big houses I do are empty, and lonely. Big unused outdoor entertaining areas covered in dust. Bigger is not better. Anything over 3500sf is too big. I feel sorry for rich people in big houses.

Welp my idea had always been around 3500 so good to know I'm not crazy.

 

[George Hatch]

One possibility that you might keep in consideration is moving for work. The market demand for services varies by locale, with some communities being grossly overserved but others being underserved. Getting into the business might be easier in some locations than in others. After you get your licensing handled then you can consider coming back home if that's what you want to do.