Becoming a home appraiser vs home inspector.

[Jbrow327]

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?

 

[Fernando]

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?

How will you get your clients?
If you know and get chummy with many real estate agents, they will supply you with work.

 

[Jbrow327]

How will you get your clients?
If you know and get chummy with many real estate agents, they will supply you with work.

I don't know how to get appraisal clients. Are you talking about inspector clients or appraisal clients?

 

[Terrel L. Shields]

This is not a great time to be either. Sales are slowing and are likely to slow significantly over the coming couple of years.
Think in terms of liability. Which has the highest E & O and let that guide your decision.
If you can find a niche - a specialty then appraising is fine. If you intend only to be a home appraiser, it isn't a great career choice.
If you want to get up to speed the quickest, then remember you are over 2 years away from licensing as an appraiser...

 

[Jbrow327]

This is not a great time to be either. Sales are slowing and are likely to slow significantly over the coming couple of years.
Think in terms of liability. Which has the highest E & O and let that guide your decision.
If you can find a niche - a specialty then appraising is fine. If you intend only to be a home appraiser, it isn't a great career choice.
If you want to get up to speed the quickest, then remember you are over 2 years away from licensing as an appraiser...

Thanks. I feel like no matter how good or bad the housing market is, people always buy houses.

 

[Fernando]

Thanks. I feel like no matter how good or bad the housing market is, people always buy houses.

Just like people need mortgages.

 

[Jbrow327]

Just like people need mortgages.

Sarcasm?

 

[J Grant]

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?

If you are a younger person starting a career, I would not recommend either one. Though they are different, they both are tied in with the RE market which is up and down., Appraisals are more regulated, more time spent isolated on the computer, more vulnerable to automation. One can make money in a boom cycle, only to see it eva[orate when the market slows down and the same thing goes for home inspection. Home inspection is more time at a house, going up ladders looking under appliances etc.

Some states require a license for home inspector, others do not. I assume a bg in construction or similar is a plus.

If I were advising a person looking for a stable well paying career I'd advise plumber or electrician or any skilled trade or the medical field. Those who spend some time doing home inspection or get a contractor license can become code inspectors for the county which looks like a good gig. Appraisers can also work for a property assessor office. Entering either field as an independent right now imo would be tough as you are competing with established people - some home inspectors work for companies, idk if you could talk to any of them to find out more

 

[Fernando]

I don't know how to get appraisal clients. Are you talking about inspector clients or appraisal clients?

The training and starting on your own will be faster as a home inspector.
You have to see your goal if you want to work for another firm or be independent. You need to know how you generate revenue.
I prefer appraising because I don't like to physical get my hands dirty.
I hate sticking my head in sinks and crawl space. Wife complains I should be more handy. I rather pay someone to do the dirty work.

 

[Fernando]

Sarcasm?

Sorry, I couldn't help myself.