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Appraiser-to Be, Or Not To Be?

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Eric Hotle

Freshman Member
Joined
Jun 20, 2003
I am considering going through the process of becoming an appraiser. I have selected a course to take. In my state of GA it looks to me as if I take my 90 hr. course, and pass a state test I can work on my own as a registered appraiser. Right?? Or do I need to go to the next step of being a licensed appraiser which requires the 2000 hrs. experience? Who would use my services-banks, individuals? I need a little insight. Thanks! :eyecrazy:
 

Liz South

Junior Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Virginia
Eric

The first thing to do is to contact your state regulatory office to find out exactly what the regs are. In most states, and for most federally processed and insured appraisals (which is probably 85% of the work, you must be licensed at minimum.

The other thing is you need the 2000 hours of work under someone who knows what they are doing. Textbook training will only go a very short distance. In fact, it is rare that I see properties that would truly match those seen in textbooks. There is almost always something unique about each and every property. Don't figure that you can shortcut the work necessary to becoming an appraiser, because you will get yourself sued.

Go out and find several local appraisers, offer to shadow them for 2 weeks free of charge and to do their grunt work during that time. See what its really like. We welcome new people, but we don't want people who just think that its "30 min in a house and then out to the golf course". To do the work properly and professionally requires ALOT of time and diligent research.

There are several Ga. appraisers here on this board. Go over to the Newbies sections and read the postings there etc. You can learn tons from this bulletin board alone.

Liz S.
 

Marty Shaw

Freshman Member
Joined
Jul 2, 2003
**Go out and find several local appraisers, offer to shadow them for 2 weeks free of charge and to do their grunt work during that time**

Why not put in some time as a trainee and get paid for the grunt work?

-Marty
 

Gary Leduc

Junior Member
Joined
Jul 23, 2002
Professional Status
Certified Residential Appraiser
State
Georgia
Eric,
Yes, in Georgia you can appraise property as a registered appraiser
like myself. However, it is highly unlikely you will get much business from
reputable clients.
The business you might get lucky in getting is the client who wants you to make $125,000 value on a $100,000 property.
You can do that but you and the client are doing a great disservice
to the homeowner.
Best advice, read alot on this forum and take the advice that they give you.
Last year I was fresh out of the 90 hour schooling and was told by my instructor to go out on my own.
I took the advice of the appraisers on this forum and have been working
with a mentor since last September.
I will have my 2000 hours by the end of October this year and may
venture out on my own after that. Probably will stay with him for awhile
after my licensing so as to help repay him for his time and expense in training me.
Good luck,
Gary
 
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