Appraisal Education

[ucbruin]

75K net is very good....

Hopefully the OP can live with that....

 

[Raven59]

75K net is very good....

Hopefully the OP can live with that....

75% net. My fee structure is hourly now. When I did fee work my net was closer 70% on 300-325 appraisals. Typical fee then $600.

 

[CommonSense]

No--probably for him, but no, not for me. Record year in 2023, which followed a record year in 2022, which followed a record year in 2021. 2024 is humming along, but probably not gonna beat 2023.

You area WRONG.. I am doing pretty good. I have been in business for over 20+ years. I cannot tell some young person with 40+ years left to work to become an appraiser when there are FAR better opportunities available with a MUCH MUCH brighter future. Congrats to you for doing so well but you are the exception right now. I now many OLD TIMERS who are really struggling.

 

[Tom D]

having been a r.e. broker, built and rehad homes it was a natural move to be an appraiser. but i also stared a very long time ago. if you like r.e. there are many avenues to go there, but i would not go into appraising at this time. it is coming to a buggy whip ending. to be honest, i also think college was a waste of money, but had a fun time.

 

[VOOman]

Become a truck driver instead.....you're going to be saddled primarily to AMC's for GSE work. When it's been as slow as it has been lately, the AMC's take a hefty cut of "your fee". This is after finding a mentor for your 2,000 log hours (not sure if that has changed or not, check with BREA). The appraisal profession is in great flux right now and even though there's always been an air of "we'll be replaced by AVM's", this time....it really seems to be we're getting kicked to the curb. It used to be a great gig though.

Right now, I'm not on any AMC lists.....I can't stand the race to the bottom with lowest fee just to get the gig, the endless stips, the harassment to turn in the report before it's due.

Sorry for the bad news. Truck driver, electrician, RN, Accountant....anything but this....

Hi Surf Cat, nice to meet you.

What is the average AMC paying for an appraisal job and what is the turn around time?

Appraisal work is attractive to me because the flexibility with schedule. You can work as hard or as little as you want. A lot of those other occupations you mentioned are full time gigs, and that's not really what I'm looking for. I also like the self employed aspect of appraisal.

 

[VOOman]

75/25. Last half career has not changed.

Hi Raven,

What do you mean by 75/25?

 

[VOOman]

You area WRONG.. I am doing pretty good. I have been in business for over 20+ years. I cannot tell some young person with 40+ years left to work to become an appraiser when there are FAR better opportunities available with a MUCH MUCH brighter future. Congrats to you for doing so well but you are the exception right now. I now many OLD TIMERS who are really struggling.

Hi CommonSense,

I am looking for part time self employed work with a flexible schedule. The majority of my income comes from passive investments both in RE and within the capital markets. Think its still a good idea knowing this?

 

[VOOman]

having been a r.e. broker, built and rehad homes it was a natural move to be an appraiser. but i also stared a very long time ago. if you like r.e. there are many avenues to go there, but i would not go into appraising at this time. it is coming to a buggy whip ending. to be honest, i also think college was a waste of money, but had a fun time.

Nice meeting you Tom D,

Why do you think the appraisal industry is coming to an end? AI?

 

[VOOman]

No--probably for him, but no, not for me. Record year in 2023, which followed a record year in 2022, which followed a record year in 2021. 2024 is humming along, but probably not gonna beat 2023.

Nice meeting you Functional Obs.

Thanks for the comment. I knew someone had to be thriving in the industry. Can't all be bad.

 

[Terrel L. Shields]

If house appraising, then it is feast and famine, have a backup plan. The need however is for complex property valuation. Commercial bank work, and boom times are coming for estate appraisals as us baby boomers return to room temperature. Ag appraisers are very busy. I'm in the middle of 3 solid months without a real day off. And I am 73. I want to slow down. This year I've done everything from development land to cell towers, rural houses, large land tracts over 1,000 acres. I've done over-built property, and dozer bait. Agri businesses to exotic animal farms. And a lot of those were estates. And my specialty is mineral rights having worked for 20 years as a geologist. And part of that was valuation of minerals for banks during the S & L crisis.