Appraising - the next new hot employment area?

[Restrain]

In the last week, I have had three computer systems administrators contact me looking to become a trainee. Now I know that in the DFW area, there is a tremendous glut of these people, and probably throughout the U.S. as you could become one in less than a month. I know, I have my CNE as well as my appraisal designations. Apparently they have gone to some professional web site and believe that you can become an appraiser as fast as a CNE and make bundles measuring homes. In each case, I have advised them to do something else. In Texas, it takes 2 years to become a licensed appraiser. In that time, you can get an MBA or become a lawyer. You can make as much as a trainee flipping burgers and get medical coverage (which I wish I had). If they want a job that will make money much faster, there is a shortage of real estate agents in the area. 1 month for training and then they can begin working to make money. It's much quicker and the money is similar if you are willing to work.

 

[Daniel Williams]

Whats a "CNE"?

 

[airphoto]

Prolly "Certified Network Engineer .."

 

[Dee Dee]

We're seeing a similar pattern in the Denver area.
With the recent fall of techie-type professions and the consequential layoffs that have followed, many of these people have been looking for new lines of work. They're realizing (a little late, IMO) that real estate has been quite lucrative in this area, so they're trying to make a quick transition. As a result we're seeing a glut of new mortgage brokers, realtors and appraiser-wannabes who have techie backgrounds.
Unfortunately most of them don't realize until too late that there are thousands of others just like them competing for positions in a market that is already slowly drying up.

 

[Tim Hicks (Texas)]

Could it be the propoganda published that appraisers slow the lending process and maybe we need more appraisers to speed up the process and "you too, can make a six figure salary in the appraisal business" slogan. Personally, I am striving for seven figures, but I I count the cents too. Just today, I received two phone calls from irate home owners wanting to know when I was going to deliver their appraisal that delivered last week. Hmmm, we have such good press agents.

 

[Ross (CO)]

Last week I received a call from someone who spent 20+ years as corporate computer systems guy and (was) retired because he wanted to see some daylight now and then.....in reference to being held up in a basement room where their mainframe systems were located. So, he's pondering getting active in appraising "upon the suggestion of two very good Realtor friends" of his. I asked if he ever thought about making bigger money and also selling homes like his friends. Said money was not his motivator....and would even take appraisal-assisting duties for no income. Remember, our nation is at war with some very ruthless enemies who hate the essence of America. Don't we appraisers see AVM's as one of our prime "enemies". The hijackers of the four planes on Sept. 11th had great interest in taking flying lessons, even when interest in landing such planes was not much of a concern. Be wary of computer system tech people who want to be involved with appraising yet have less interest in actually determining a value ! Knowledge about the appraisal process...plus...computer system management = good AVM programmers. Just a little conspiracy theory, and I am sure I am taking such thoughts too far !

 

[Larry Lyke]

Hey, Ross --

I know of a couple of appraisal shops running on auto-pilot. Gonna run out of fuel eventually. Probably land itself ...

The LOs don't complain.

I think it's headed for a big bank someplace. 'Hail, RTC.'

 

[David C. Johnson]

<span style='color:darkblue'>RStrahan,

In part, you write:

"...In Texas, it takes 2 years to become a licensed appraiser.
In that time, you can get an MBA or become a lawyer..."

Good post, but please reconsider the "lawyer part" of your recommendations as a potential employment example (while I understand it was very tangential to your message). We may have enough already. Of course, the MBA appears to be real overrated, according to some pertinent industry press.

If I am not mistaken, we have something like 17,000 lawyers in the State of North Carolina which is probably 10,000 or so too many. Compare this with less than 4,000 appraisers in the state (which as you indicate, is plenty!)

I read in the paper that UNC-Chapel Hill's law school had an application rate that was up 30% from last year. Great. (sarcasm, for sure)

The only good news here is that actual enrollment necessarily remains fixed -- while unfortunately, at the school's maximum production (as it always has as far as I know).

Yes, you might be interested to hear that the article attributed this increase to three factors:

1) Unemployed Techies

2) Hiring recession encouraging undergraduates to stay in, or go back to school

3) TV shows glamorizing Lawyering

dcj

PS: Law school is usually a three-year program normally, and it is actually considered to be a doctorate program (don't let that get out) -- yep, if they want, they can refer to themselves as "Dr."</span>

 

[Blue1]

A good friend of mine who spent 25+ years in "silicon valley" wants to become an appraiser. He's tired of companies going "off shore." He's a good man, managed millions of $$$$$ in inventory and product. Was a plant manager. He got me a job when I didn't have one, he's ethical and trustworthy. He's going through the appraisal classes. Guess I have a "trainee." :lol:

 

[bobburnitt]

Aw now Mr. Strahan,

You may be pushing it a little. Sure you have to apprentice for two years in Texas to be certified, BUT, you only have to have 120 'contact' hours of education. That is equal to 8 college hours. Thats right, one half of one full load semester. I know you know that a candidate for law school must have at least a bachelors degree before even being considered for law school. I know that you know law school is at least a 3 year program. And then there is the bar exam. Of course there are too many lawyers just as there are too many appraisers, that is the only thing that makes being a trainee sound good. Each 'profession' has a glut of people in it, but at least you can crap out a lot faster as an appraiser.

The interesting thing about education (something that I am an advocate of), is that in a so-called affluent society, so many people can afford education, that education itself is cheapened. The law of diminishing returns, maybe.

But regardless of the oversupply of educated people as a whole, appraisers are NOT required to have enough education for what they do to be considered a profession. There are a lot of jobs that require apprenticeships and degrees as well. Too bad Real Estate Appraisal is not one of them.

BB in Texas