Changing Careers

[walt kirk]

Kim,
I don't know of many appraisers who set out to be appraisers! we all seem to have entered the profession from related fields. Do you have any real estate experience? If not I would suggest that you get a real estate sales license as a first step. With that license you can work for a local broker and learn the local market. You can also learn about data sources and who is active in the appraisal field. I would suggest that you take your initial course work in an academic setting (local community or state college).

Don't think that you can easily replace the steady salery and benefit package teachers have with the earnings of a new appraiser.

 

[Pat Gries]

Kim,

I too am new in the appraisal business. I worked for a large retail company for 33 years and felt that I needed a change.

In talking with other appraisers they were very open on what is required and how hard it is to get started.

Finding a mentor was not easy. It took me 4 months to find someone who was willing to take the time to work with me.

I haven't look back but I will say it has not been easy and in the long run it was the best move for me.

Good luck

Pat :usa:

 

[Mike Garrett RAA]

Hi Kim.....

I facilitate the registered appraisers course for a real estate college here in Colorado Springs. My background includes 23+ years appraising and 35+ years as a real estate broker.

Every quarter we have from 25 to 35 people take the registered appraisers course. 75 class room hours that includes 15 hours of USPAP. Most pass the test and receive a Registered Appraisers license. Every week I receive 5 to 10 calls from registered appraisers looking for an apprentice position.

Our market is saturated with appraiser wanna bees. There are more fully licensed appraisers than needed at this time. If the re-fi boom ends, many will be forced out of the business. I forecast as many as half those licensed and most of those with trainee licenses.

Now, with that in mind, do you still want to be an appraiser? If so, go for it. Just keep this in mind too:

Two years as a trainess (2,000 hours).
Working for slightly more than slave labor in the beginning.
Acquiring approximately $2,500 in equipment and software.
No benefits such as health insurance and retirement.
Long working hours.
Entering a career field that may or may not be here 10 years down the road.

Now the benefits:

Be your own boss
Work as much as you want to
Be able to expound on functional obsolscence
Know that USPAP is not a medical term
Get to see those velvet pictures of Elvis in other peoples homes

I wish you well!