Am I crazy for trying to enter the appraisal industry at this time?

[redking]

Hello, all, my name is Rory. I'm new to the forum. I live in Lubbock, Tx and am in the process of completing my trainee classes online. I know real estate is slow right now. Is there much of a chance someone is hiring, even part time? If not I guess I'll wait for the market to improve, and while I wait I'll continue taking classes towards either my certified general or licensed residential.

Can people share their opinions on the market and if they can recommend an appraiser or appraisal company in Lubbock, I might contact?

Many Thanks

 

[Terrel L. Shields]

Not much. You might consider checking with the assessor offices, CAMA offices, etc. and dip your toes in with working for government or groups that work for the government.

 

[redking]

Not much. You might consider checking with the assessor offices, CAMA offices, etc. and dip your toes in with working for government or groups that work for the government.

Disappointing to hear but not unexpected. Thank you for the response.

 

[Overimprovement]

My workflow declined so much in 2023 I exited appraising as my primary income source. That was with years of experience and what was a very solid client base. I could have ridden it out some with savings, but I need to be earning income 40 hours/week at this stage of my life.

Also, I have stopped training my kids to follow in my footsteps, and am trying to prepare them for other professions. I think that little about the future of appraising.

With waivers, AVMs, PDCs, and many appraisers joining fee panels of AMCs, there simply is much less work available to independent fee appraisers.

If you have other work you can do in the interim, I would be one vote to suggest that.

 

[Artemis Fowl]

Don't be disappointed. Having worked both sides I can definitively say I like assessing better than fee work for the mortgage industry. Private fee work is really nice but until you have a few years and a demonstrable portfolio of work experience, you won't see that work unless assisting someone else. Exposure to different problems and property types is greater outside mortgage fee work, allowing you to build that portfolio.

 

[Raven59]

You should land in an area of the industry that offers experience over pay. The mortgage arena is too volatile and offers a gloomy future. Get some credible experience and then look for opportunities. They exist but not where the mass is looking.

 

[redking]

You should land in an area of the industry that offers experience over pay. The mortgage arena is too volatile and offers a gloomy future. Get some credible experience and then look for opportunities. They exist but not where the mass is looking.

what would be some examples that you would recommend?

Please and thank you

 

[Raven59]

Department of Highways, Assessor, USDA/Farm Credit, Army Corp of Engineers, Forest Service or other government agencies responsible for land management, ROW/utility companies, natural resources companies (timber, gas/oil/coal, water), solar and wind energy companies, CAMA vendors, commercial management companies, specialty appraisal firms that do unique valuations like air rights (airports)…there are many.

 

[Raven59]

what would be some examples that you would recommend?

Please and thank you

My specialty is environmental. My competitors are national not local. Think outside the box.

 

[Terrel L. Shields]

My specialty is environmental.

Mine is mineral rights and I do mostly non-residential property - none of which is secondary market. I just took my first "residential property" assignment Monday. It's a new 6,300 SF dwelling on 230 acres. 6 parcels, lake view on one side, lake front on the other... not a $500 appraisal.