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Career Change To Appraiser

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Sbm1975

Freshman Member
Joined
Aug 1, 2017
Professional Status
General Public
State
New York
Hi Everyone- I'm seeking some advice and opinions on making a career change to residential real estate appraiser. I'm at 42 yr old woman living in Westchester County, NY. I was a RE agent but wasn't enjoying that so stopped selling and I currently work as an admin in my brokers office. I'm looking for something more stimulating and lucrative than admin work. I have kids so my schedule isn't super flexible after certain hours.

I started to think about becoming an appraiser and wanted to feedback on that career choice. I know there is about 2 yrs of schooling but I'm ok with that.

TIA
 
Mixed feelings...a rough road as hard to find a supervisor...imo try property management or something else unless you have more ambitious then the residential side , a cert gen (commercial license) takes longer to get but worth the effort. Many appraisers are pretty jaded and burned out due to constant battle for fees with AMC's on res side and some attrition from automated/computer products being used for a limited amount of work .
 
My true story. I made maybe $10k in the 3 years it took me to go from trainee to licensed. This was during recession.

When I was licensed. I had zero work. Everyone wanted 5 years certified experience. I went another few years making $20k a year.

Today it seems for the most part the 5 year cert is gone for all the AMC's. Only good clients that pay want 5 years plus.

So to work for the sake of work, licensed will get you enough to survive.

Top residential pay for 1st 5 years of licensed/certified will be $50k max. Per year.

Takes long time to make any money. And at 10 plus years in. Max gonna be $80k ish for residential work. Above that it's an anomaly, scam, internet liar etc.

I'd become an appraiser at 65 when retired. At 65 I'd tell everyone to appraise. At 20-64. I'd tell absolutely no one.
 
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I think it is very tough to become an appraisal on less than a full-time basis.
It is relatively easy (and some enjoy it) transitioning from full time, experienced appraiser to part-time work.
My experience is that is difficult to get the training and competency necessary at the beginning on a less than full-time basis (including weekends).

Good luck!
 
The key is getting your experience. Most states give you a "provisional" lic. which allows you to work with a "mentor" and acquire work work experience. The problem is finding an appraiser to work with. That is very hard in a slow market. I got into the business in 1992 because the market was busy and my "mentor" could not find an experienced appraiser. In my state, it is not that hard to get a RE appraiser lic. Many of the RE agent cources are applicable. So, it is not a big time investment to get an appraiser lic. You may want to consider working both as an RE agent and appraiser until you can support yourself sufficiently.
 
This same questrion posed by a man, got very different answers.

https://appraisersforum.com/forums/threads/searching-for-a-trainer-pittsburgh-pa.217572/

Seek out the local chapter of the appriaisal institute. See if they have any events or classes going on locally that you can attend. Realtors, typically, know an appraiser or two. Ask around the office, see if there is a friendly one you can speak to.

There is still better money in selling than in being an appraiser trainee. Don't let that sales license laspe, because it'll be a long time (read more than 2 years) before you can make much more than gas money and MLS dues.

.
 
I would recommend getting a commercial license. The residential world is in turmoil.


Ditto to that, times three.

But even commercial appraising is cut throat and cyclical. And it takes many years to learn well.

Add to the fact that appraising is just not fun, and I have to wonder why you would want to do this at all?

If you like the thought of making money while everyone else is having fun at happy hour - or evenings - or weekends - then go for it. (it's 2 am now, and I'm here to "wind down" after working for 14 hours. Who needs that?) Like others have said, you won't make much money for years. 0-64 - nobody should do this!

What to do? ANYTHING Medical. Computer science degree/programming. Sales.

Keep looking - and good luck!
 
I would recommend getting a commercial license. The residential world is in turmoil.
Seems to me, the commercial world will flood with appraisers and supply and demand will wreak havoc there too.

Go to AI, ASA, NAIFA meetings and start meeting people in your area. See if you can shadow a couple to see what the business is all about. Try different venues and find the right fit for you
 
My true story. I made maybe $10k in the 3 years it took me to go from trainee to licensed. This was during recession.

When I was licensed. I had zero work. Everyone wanted 5 years certified experience. I went another few years making $20k a year.

Today it seems for the most part the 5 year cert is gone for all the AMC's. Only good clients that pay want 5 years plus.

So to work for the sake of work, licensed will get you enough to survive.

Top residential pay for 1st 5 years of licensed/certified will be $50k max. Per year.

Takes long time to make any money. And at 10 plus years in. Max gonna be $80k ish for residential work. Above that it's an anomaly, scam, internet liar etc.

I'd become an appraiser at 65 when retired. At 65 I'd tell everyone to appraise. At 20-64. I'd tell absolutely no one.

This same questrion posed by a man, got very different answers.

This is for you Marion ~

The advice above is about as direct and accurate as any I've seen.

I would tell this to anyone - man or woman.

If they still wanted to be an appraiser, then - well, I tried - go ahead and chase your dreams and live in poverty for YEARS while you do it. And then... after paying your dues and crawling along for such a long time... it could very well become much worse! I predict that in the near future Core Logic will hijack this business with their own desk-top version of an appraisal report. Then all bets are off, and this will become a pure commodity business, very similar to BPOs. Hope I'm wrong, but that's the writing on the wall.

Think long and think hard. Look at the mass destruction appraisers have endured for a very long time. The facts are there for anyone to see, if they dig below the surface a little bit.
 
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