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Becoming a home appraiser vs home inspector.

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If you're young go into another field where there's good demand for your services.
Unemployment is low now and difficult for companies to find skilled workers. Can't remember a time when companies so desperate for good workers.
Go into a high growth field and be best in it. Companies always looking for qualified skilled workers.
 
Real Estate is a huge business with tons of ways to make a lot of money.

Appraisal will always be needed. These slow times when prices start to go down and cause huge losses or massive bailouts always blow up the automation crowd. Real estate really frustrates the automation crowd with its ever changing quirks, amoeba like unpredictability, roller coaster peaks / valleys and vast opportunities for fraud. Plus it’s so intertwined with the antiquated legal system that runs everything and stops automation from effecting long established musty, ancient money flows into the pockets of lawyers.

Sales Brokerages, Title insurance, Mortgage Origination, Zoning Law, Property Management, Appraisal, Land Survey, Mortgage Servicing, Property flipping, Rehab, Real Estate Law, Real Estate Investment Trusts, Landlording

It’s a fantastic field
 
Sales Brokerages, Title insurance, Mortgage Origination, Zoning Law, Property Management, Appraisal, Land Survey, Mortgage Servicing, Property flipping, Rehab, Real Estate Law, Real Estate Investment Trusts, Landlording

RE is a huge field and what you describe above are, in reality, very different careers under the RE umbrella.. Many of the jobs in RE, except for the product, have nothing in common wrt tasks or earnings.

RE agents whether on commission or employed by a builder are sales people Loan officers and mortgage brokers are also sales people.

The back office staff doing title work, property management , mortgage processing etc are paid a salary and perform the drudge tasks..
Landlords own property and rent it out - if someone has the $ to invest RE can be profitable ( or lose big time ). Builders , landlords, property flippers are on the investment/owner side.

Surveyors and home inspectors perform a combination of location work and some computer work, it is reporting what exists and not an analytical field.

Appraisers combine field work and desk /computer work and perform an analyst function. They can be independent contractors, on staff at a lender or AMC, or work for a county assessor office.

In the old days - ( until now) res mortgage appraising offered some good prospects, now they are dimmed -the stakeholders want to make appraising resemble the other drudge back office RE work. And their agenda is to increase output speed or eliminate appraisals in some cases. That is why waivers are replacing a number of appraisal orders, while others are hybrids or desktops in the name of "efficiency" . The question is the extent this change will impact what appraisers used to know as a career combining field and computer work and the ability to be independent. .

I say residential mortgage appraising because that is where the bulk of the work is for a residential license. It is rare for a res license appraiser to earn a full time income outside of mortgage work - hats off to the few who do, but t their end is specialized and take years to get the experience or contacts and therefore is limited segment.
 
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I’m trying to decide whether I want to become a home inspector or a home appraiser. I’m in the state of Utah. I have a few questions.

  1. Can I be self employed as an appraiser like I can as an inspector?
  2. Can I earn as much per appraisal as I could if I were an inspector?
  3. Will appraising be totally automated in a few years?
  4. Do I need a degree to become an inspector?
1. Yes, I'd say that most residential mtg appraisers are self-employed.
2. Depends on your clients and what type of appraising you perform.
3. Not totally but mostly. Specialize in something other than mortgage appraising.
4. Likely depends on the state.

The market is slowing so it may be a good time to take some classes, find out what interests you most.
 

57,000 applied for 1,500 positions. Median Pay is good at $138,556 in 2021.
Unfortunately for us old geezers, applicants have to be under 30 years old. Isn't that age discrimination?
 
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