Cooper8
Freshman Member
- Joined
- Feb 23, 2019
- Professional Status
- Appraiser Trainee
- State
- Pennsylvania
I am currently a Licensed Appraiser Trainee in the state of PA, working under my supervisor who is a Certified General Appraiser. He is a sub contractor for a Certified Residential Appraiser. It is just the 3 of us in this office doing appraisals.
Before I joined in as his trainee, my supervisor was getting a 60/40 split. Once I joined, it became a 50/30/20 split. Supervisor - 50%, Owner = 30%, Trainee = 20%.
At this point in my training I have the primary responsibility for all aspects of the appraisal. My supervisor is no longer required to come with me on interior inspections, etc. He just reviews my reports, signs his name and we include my info in a supplemental addendum.
Both my supervisor and myself have become frustrated with the owner as she takes the majority of orders, and gives us the "leftover", i.e. more complicated appraisals she doesn't really want.
For instance, last week she did 7 appraisals and we did 2. Is this common practice? This is a slow season in our area (being winter) so business is slow for everyone right now. She has bills to pay (as we do) so I understand her getting priority, but this seems unreasonable to me.
As a result I have been asking my supervisor if he ever considered going out on his own. At this point he is not interested because he is nearing 70 and is not very tech savvy etc. He is looking to slow down (hence why he is training me) and not take on any new responsibilities. You probably see where I am going with this.
I am tech and business savvy and planned to run my own appraisal business at some point in the future. So lately I have been thinking, why not now?
I have only recently started appraising, but I have worked on and off in real estate since 2003. My thought is that I can own the business and hire my supervisor as an independent contractor and offer him a much more generous split than what he is receiving now. I know It seems backwards for the trainee to hire out the supervisor, but would it make sense in this situation?
Has anyone heard of this type of arrangement? Does anyone think this set up could be problematic when working with AMC's? We have good relationships with several local lenders but the majority of our work does come from AMC's.
I have already started figuring out the initial and monthly investment on my part to start the business, (E&O, MLS memberships, Appraiser software purchase, tech support, other business costs, etc). Even with all my start up expenses, over the course of just one year, both my supervisor and myself could make more money (doing less appraisals) by going out on our own.
Would love some feedback on this idea! Especially if anyone out there has done this before!
Before I joined in as his trainee, my supervisor was getting a 60/40 split. Once I joined, it became a 50/30/20 split. Supervisor - 50%, Owner = 30%, Trainee = 20%.
At this point in my training I have the primary responsibility for all aspects of the appraisal. My supervisor is no longer required to come with me on interior inspections, etc. He just reviews my reports, signs his name and we include my info in a supplemental addendum.
Both my supervisor and myself have become frustrated with the owner as she takes the majority of orders, and gives us the "leftover", i.e. more complicated appraisals she doesn't really want.
For instance, last week she did 7 appraisals and we did 2. Is this common practice? This is a slow season in our area (being winter) so business is slow for everyone right now. She has bills to pay (as we do) so I understand her getting priority, but this seems unreasonable to me.
As a result I have been asking my supervisor if he ever considered going out on his own. At this point he is not interested because he is nearing 70 and is not very tech savvy etc. He is looking to slow down (hence why he is training me) and not take on any new responsibilities. You probably see where I am going with this.
I am tech and business savvy and planned to run my own appraisal business at some point in the future. So lately I have been thinking, why not now?
I have only recently started appraising, but I have worked on and off in real estate since 2003. My thought is that I can own the business and hire my supervisor as an independent contractor and offer him a much more generous split than what he is receiving now. I know It seems backwards for the trainee to hire out the supervisor, but would it make sense in this situation?
Has anyone heard of this type of arrangement? Does anyone think this set up could be problematic when working with AMC's? We have good relationships with several local lenders but the majority of our work does come from AMC's.
I have already started figuring out the initial and monthly investment on my part to start the business, (E&O, MLS memberships, Appraiser software purchase, tech support, other business costs, etc). Even with all my start up expenses, over the course of just one year, both my supervisor and myself could make more money (doing less appraisals) by going out on our own.
Would love some feedback on this idea! Especially if anyone out there has done this before!
Last edited:
thanks for your feedback!
