Anyone work for RELS. Wells Fargo? (and other questions)

[expresstex]

Hello Seasoned Appraisers,

I am new to the board, so forgive me if this topic has already been discussed. I am a newly licensed appraiser, having spent the last 3 years doing my indentured traineeship. At any rate, my sponsor has new trainees and as of June, I haven't done any work for her.

Her own business has been slow, but getting my appraisal business started at this stage in the real estate game is rather comical. I have searched many job boards and have only managed to get on with one AMC.. Synergy Appraisal Services.. However, $245 for an appraisal seems like a joke. Plus they have only ever sent me one order. I am not a big fan of the AMC and would prefer to work for brokers.

Right now, I am studying for my Certified Residential Exam and have my application pending with the state. The only thing that worries me about this is getting my hours. My sponsor told me about a position today with RELS--Wells Fargo becoming a "staff appraiser." Before I apply, I want to pick the brain of all you brilliant appraisers... And yes, forgive me for my ignorance... but that's how we learn.. asking again and again...

1) What is your definition of a Staff Appraiser?
2) Do you have to commute to an office or can you work from home?
3) What would the approximate income for such a position?
4) Staff Appraising versus Independent Fee Appraiser... pros and cons?

I would personally prefer to work from home as I have two young babes and it's easier for me to get a sitter for a few hours than pay for a full-time daycare. So that's why the Independent Fee Appraiser is what I would ultimately like to do... But I haven't been too successful in finding the work.

I would appreciate any and all advice you have.. I have thick skin.. I can take the criticism... My former sponsor's favorite saying was... "There's no crying in appraising!" (Usually after she lambasted one of my reports and made me redo everything!) :Eyecrazy: Yes, it did make me a better appraiser...

Thanks,

Dani in Texas

 

[Mike Kennedy]

Dani ........in USER CP ...suggest enabling private msg and/or email.

 

[Lobo Fan]

I met a guy at a CE class that was a staff appraiser for RELS. He was as busy as hr wanted to be and seemed fairly pleased with his situation. He worked from his house in a nice area and he drove a Volvo SUV. We did not talk fees. You might want to see if you can free lance in addition to the RELS work. Of course this was a couple of years ago now so who knows.

 

[VolcanoLvr]

Dani.....

Welcome to the AF. I work for RELS as a contracted appraiser, not "staff."

I'm told they do have 'staff' appraisers in certain areas...probably the bigger population ones. Those appraisers likely have many years in the biz, and possibly are former WF 'staff' appraisers who lost their jobs in the last 2 years when WF folded their appraisal tent.

Outside the major geographic areas RELS and other AMC clients use contracted appraisers like me who get on their approved list by making application.

While not the most lucrative way to earn a living, the AMC's generally pay quickly, although their contract fees are roughly 70% of what a 'normal' fee would be in your area for typical appraisals. I believe RELS has a 2x per month pay cycle, so $$ arrives fast after report review & acceptance.

When new in the biz, AMC's can provide a book of business you might not get otherwise.

AMC's generally have more persistant attitudes about dealing with appraisers. They have phone monkeys charged with phoning appraisers with accepted orders almost daily to check status which is normally a disruption when we're doing something else. I generally ask the caller "what's the date I said I'd have the report to you....?" When they respond, I say 'you'll have it by then. Thanks for calling.'

Unfortunately getting MB's & banks as steady clients is not too easy in this biz. Most of them are buddies with other appraisers. But make the rounds to intro yourself, leave cards & flyers, and then contact them again 30-45 days later. Pretty soon biz will come your way.

Another way to get biz is to get listed on the various FREE appraiser locator sites. However, most posters here on the AF are very leary of the numerous expensive FEE sites that take your $$, claim bookoo orders will follow, only to leave you hanging. While many MB's/LO's who find me on these sites are just fishing for value in advance, I've had many orders, most of which are full fee paid at the door at the time of inspection.

Stay close to the AF. Good bunch of folks here, although we don't always agree with one another! But that's the way we learn.

 

[Charles Knutson]

In this market, a staff appraiser position with flexible work arrangements would be an ideal position for a newly licensed appraiser. Being able to work from home part of the time is key -- if they will let you do that, go for it.

It will be salaried vs fee, but it probably comes with benefits. My guess is you will probably earn more with the staff position than trying to establish an independent practice in this market.

Plus, as a staff appraiser you will learn that your top priority is protecting the bank's interests -- not making a mortgage broker happy.

It sounds like a good oppportunity to me.

 

[Mike Boyd]

I agree with Charles. If they will let you free lance and work from home it would be great. I did that for many years.

 

[expresstex]

Thanks everyone for your insight and advice.

I have a resume and just ordered business cards tonight. I just sort of feel like I have got to get out there and "pound the pavement" by distributing my fliers and business cards. That's what I intend to do in the upcoming weeks.

I think what is most frustrating is that I feel like I am at the mercy of some of these AMC's. And there are so many horror stories about them on this forum.

I agree though with you all.. If they will let me also freelance and work for them from home, then I do have it made!

:new_newbie: Dani

 

[chip baine]

If you try the job with RELS tell them you want to be a utility appraiser which allows you to do work outside of RELS as well. RELS really does not hire "staff" appraisers anymore but hires utility appraisers. You can get full corporate benefits with some of their jobs.

 

[expresstex]

Chip (and other seasoned appraisers)

I have not ever heard of a utility appraiser... Is this the same as an independent fee appraiser? Also, the job description stated that they will provide the computer software, computer, etc...Does this sound like an office job to you all?

Thanks!
Dani

 

[Liz Mura]

As a staff appraiser, you would be working for RELS, not Wells Fargo. They will be concerned with high QUANTITY production and turn time, not quality and experience. If they are like other AMCs hiring staff appraisers, you would NOT be allowed to do work for any outside Clients. You would be paid a fee split...a higher fee split for the MORE appraisals you do a week, probably 30%-50%, not a salary. OTHER staff positions required 19-25 appraisals a week. If you are starving, take it if offered, but be prepared to work 24-36 hours a day.