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Career Change

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Merk

Merk

Freshman Member
Joined
Apr 27, 2017
Professional Status
General Public
State
Pennsylvania
Hello all,

I am new to the forum, but have been reading a lot of the discussions over the last several days.

The short version of my question is:
I am now, at 34 with a family, forced to find a new career. I have thought about something in real estate for years, and am strongly considering appraisal since it seems like something that would fit my personality.

I have experience in inspection and auditing roles (though in agriculture, not real estate), and have owned my own business in the past.

What would you all, as experienced and knowledgeable people, think about just starting in the industry today?
Can you make a decent living?
Do you get sued often?
What are some pitfalls to avoid?

I am planning on enrolling in the trainee classes in the next few days.

Thanks so much for any advice or guidance you can provide.
 
My advice is to consider getting a commercial license rather than a residential.

I've done residential exclusively for the first part of my career, and still do some residential now. The environment for commercial appraising is better than the residential (IMO). However, depending on where you live, what kind of market exists, residential may present a better income opportunity.
I would recommend you find a professional appraisal organization: Appraisal Institute, American Society of Appraisers, Independent Fee Appraisers, etc., that is active in your area and reach out to them; ask them if they can recommend a couple of appraisers to speak to from within your market. You can get a better sense of your local market dynamic that way.


Good luck (and welcome aboard!).
 
If you choose to go down the appraisal career path, I wouldn't do anything without first figuring out how I was going to get a mentor to train me. I don't know many good mentors that train unless they know or are related to you. Often trainees end up working for a sketchy licensed appraiser that just wants to use them to further their appraisal mill (minimal training and will fire you the second you aren't making them enough money).
 
Pittsburgh Pete said:
Where are you in PA? I know of many quality appraisers locally (res or com) who would be good candidates for mentors. Stick with a mentor who views you as an investment and not just as a tool!
Click to expand...

I am currently located in the Northeast part of the state, Scranton area, unfortunately. I am open to moving to a promising area if this turns out not to be.

Thanks everyone for your kind and thorough responses!
 
Any thoughts on being able to tell the difference between a potential mentor and a user at first meeting?
 
 
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Merk said:
I am planning on enrolling in the trainee classes in the next few days.
Click to expand...

I recommend taking Appraisal Institute classes.

Don't take classes from Bob's skool of hair and appraisal.
 
Great info, thank you!
 
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