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Let's be clear. That applies to residential work for banks and lenders. As many of us have urged for decades literally, every appraiser needs to expand their non-lender work. That may mean taking on commercial work, getting a CG, etc. And developing specialized skills for a niche is a life saver when times are bad. But you cannot simply switch hats when mortgage rates rise. You need to blend the non-lender work into your workflow even if it means turning down lender work in the busiest times. Cultivate those non-lender clients.
If that had happened....
Why? I am over-loaded with work. I worked all weekend on reports. I've not had a day off outside of going to doctor's appointments and a rare and occasional day. Yeah, I'm slower than ever physically, but I've not been this busy since about 2010 when I was doing triage for a bank in trouble...literally shooting the wounded borrowers on the battlefield. People are dying every day. Estates need values. Community banks need appraisers. I take the ones the other appraisers run away from. Like this week's project - a 6,300 SF house on 230 acres of lakeview and lake front. That's assuming I get done with 2 farms, a strip mall (almost done), and a Flea Market that's a large red iron shop building on a busy highway. There are projects I turn down or lose simply because I cannot get to them within 3 weeks. No. I didn't build that business overnight but it is within reach of anyone willing to learn how and market themselves accordingly.
For those with just a res license, the supply of private nonlender work is very limited. If that were not the case, nobody would work for Low AMC fees.
If ALL appraisers in your market area took your advice....
Perhaps but what held back a lot of appraisers 20 years ago from getting their CG? No one has to have designation. But they do need to pick a subject or two to specialize in. Specialize in valuing Manf. homes for instance. But on the CG side, agri appraisers are scarce. Try to find someone to value a church, an airport hangar, leased fee lands, C stores, truck terminals, medical facilities, etc.
Not everybody has what it takes to get a CG license, then or now. And some people dislike that kind of work.
