An "Independent" Appraiser

[KJLhoxtrot]

I'm looking for advice... I currently work for a family appraisal company. However, I'd like to expand my work load without creating more work, stress, or tax related issues for my current company/boss...who is semi-retired and doesn't want to expand/advertise/invest. I'm expected to take over the current family business in the next couple years so I don't necessarily want to start a new company, but I also need the work now. Is it common to do "Side-work" as an Independent Appraiser? Are there many Independent Appraiser's out there without an official company. Most importantly, will I be taken serious by lenders and AMC's without an official company or DBA?

 

[ucbruin]

There is no appraisal work available....

 

[TerryRohrer]

I'm looking for advice... I currently work for a family appraisal company. However, I'd like to expand my work load without creating more work, stress, or tax related issues for my current company/boss...who is semi-retired and doesn't want to expand/advertise/invest. I'm expected to take over the current family business in the next couple years so I don't necessarily want to start a new company, but I also need the work now. Is it common to do "Side-work" as an Independent Appraiser? Are there many Independent Appraiser's out there without an official company. Most importantly, will I be taken serious by lenders and AMC's without an official company or DBA?

My preference in your place would be to converse with the older generation and try to take on some of their load at an increasing proportion over time, and take a higher cut of any increase in revenue, while growing "that" entity. It could be arranged that their burden is the same, or less, in all aspects.

But, some can't let go, even when they really want out. If that is the case, it is a waiting game. To your last question, I doubt anyone cares if you are a company, individual. Or DBA. I suspect there are as many operating with just their name as the focus.

 

[Mark K]

Are there many Independent Appraiser's out there without an official company. Most importantly, will I be taken serious by lenders and AMC's without an official company or DBA?

I have never worked for an appraisal company; been independent for over 30 years. I have found that clients hire you for your expertise, not because of some company name. Initially, they might call the company but once you get a relationship formed, they don't care about a company name.

Also, the VAST majority of appraisers that I know work as a sole proprietor not as employees of a company.

As far as doing side work, you should discuss it with your current boss. This might be a good time for hm to walk away.

 

[Fernando]

Get your own E&O insurance and use your name only as appraiser business and you can work independently. Try it out and see if you can make it on your own.
Once I had enough clients and work, I left the bank.

 

[Sadie]

I have never worked for an appraisal company; been independent for over 30 years. I have found that clients hire you for your expertise, not because of some company name. Initially, they might call the company but once you get a relationship formed, they don't care about a company name.

Also, the VAST majority of appraisers that I know work as a sole proprietor not as employees of a company.

As far as doing side work, you should discuss it with your current boss. This might be a good time for hm to walk away.

When the HVCC came about the number of appraisal firms decreased because of the wacky way AMC's order appraisals and for a while for the high cost companies had to pay for having appraisers. I think there was a surety bond the company owners had to pay for each appraiser. $5K? That didn't last but it sure put a damper on having an appraisal co. with staff appraisers.

 

[glenn walker]

Get your own E&O insurance and use your name only as appraiser business and you can work independently. Try it out and see if you can make it on your own.
Once I had enough clients and work, I left the bank.

E & O Company tracts by your License Number not what company name.

 

[Vermonter]

Most importantly, will I be taken serious by lenders and AMC's without an official company or DBA?

They don't care. If anything they will see you as a new mark to pressure with low fees.

There is no appraisal work available....

There is always appraisal work available....the trick is finding it

 

[ucbruin]

They don't care. If anything they will see you as a new mark to pressure with low fees.



There is always appraisal work available....the trick is finding it

Seems like many forumites can't find sufficient appraisal work to sustain their minimum life expenses....

 

[glenn walker]

Many may have not ever been in a Slow Down or Appraisal Rodeo.