The End of *most* Full Time Appraiser's ?

[Gtary]

With the roll-out of Fannie and Freddie's 90% LTV appraisal waiver policy, in conjunction with incoming AI, etc. Will there be enough work as an appraiser to be full-time? Or, will appraising become a side-hustle? What are your thoughts?

 

[DTB]

When I gave it up, it was completely. With MLS fees, Licensing fees, Continuing Ed, E&O, phone line, business internet fees I couldn't see a way that part time would work.

YMMV

 

[glenn walker]

A better question may be will or can someone appraising full time make a living that will support themselves or a family comfortably where they live or plan to live.

No if it's a high cost area like much of California where median price homes can easily be $700k to over A million and rents starting at $2,500 to $3 500 unless your older and have no mortgage.

But in Arkansas or Parts of the Mid West maybe you can make it or if you have a spouse with a real job with benefits.

If not i doubt many residential appraisers are doing very good. Again Full Stop..where you live and the cost of living are the real questions.

 

[Terrel L. Shields]

The trick to survive appraising is to move away from residential work and do commercial - agri work or specialty work like valuing hangars, golf courses, resorts, hotels, RV parks, Churches, etc. Residential work has no future except in a cube farm run by an AMC with cheap employees.

 

[ucbruin]

The trick to survive appraising is to move away from residential work and do commercial - agri work or specialty work like valuing hangars, golf courses, resorts, hotels, RV parks, Churches, etc. Residential work has no future except in a cube farm run by an AMC with cheap employees.

That advice is for someone approaching the 1st tee...
Not the 17th....

 

[Terrel L. Shields]

Not the 17th....

You can last another few years if ready to geezer out... or get a RE license and sell... unfortunately a lot of appraisers are introverts.

 

[TC]

The trick to survive appraising is to move away from residential work and do commercial - agri work or specialty work like valuing hangars, golf courses, resorts, hotels, RV parks, Churches, etc. Residential work has no future except in a cube farm run by an AMC with cheap employees.

And if EVERYONE moves to Commercial the same thing will happen. Plus, learning commercial is a long time training period. And sooner or later the AMC buzzards will take that over as well.

 

[ucbruin]

You can last another few years if ready to geezer out... or get a RE license and sell... unfortunately a lot of appraisers are introverts.

That's the reason AF has been running for 20+ years....

 

[J Grant]

Your post sounds geared toward residential - looking into the next 10 -15 years , I think there will still be a need for highly skilled human appraisers to review, do the hard ones, or even the so called easy ones due to market instalibyt- AMC;s are scourge on fees so if one has just mediocre skills now and are stuck with mainly or all AMC clients one might want to take a step back and compare other career choices - or go take more education or relocate to an area where appraisers are needed that is part rural or weather challenged or up and coming etc.

For example, in Florida, lenders are desperate for appraisers to appraise in Belle Glade and Pahokee. Well, look those towns up and you will see why. However, there is money to be made for those who don't want to work in a glam spot, and those areas will see a boom in building IMO within 5 years or less.

Part time - I think it is difficult as work flow is not steady but expenses are and how would it combine with other things you are doing?

 

[glenn walker]

The commercial guys in my area mostly don't make good money anymore.That got extremely competitive and fees are lower than 25 years ago. What we paid in 1990 a $3,000 fee-- we can get a CG all day long for $1,000 to $1,500 bucks.

Commercial maybe in a specialized field but not for a independent fee guy in our community.