Continuing Relationship with Mentor After Certification

[FD REA]

I'm wrapping up my hours and classes in the next few months and will soon be ready to get certified. I've been working under my mentor for free to complete the process, but it’s unlikely they will have any work for me when I am certified.

I’d like to continue working with my mentor while also bringing in my own clients. Is it possible to sign up with AMCs under their business? How should we structure the business arrangement? Would a fee split make sense, and if so, what’s generally considered fair in these situations? Any advice or insights on how to navigate this transition would be greatly appreciat
ed!

 

[sputnam]

You need to talk to your mentor... not us. It's a business negotiation. Your mentor may be very accomodating as long as there is some benefit for him/her. Or, they may tell you not to let the door hit you on the way out.

 

[FD REA]

You need to talk to your mentor... not us. It's a business negotiation. Your mentor may be very accomodating as long as there is some benefit for him/her. Or, they may tell you not to let the door hit you on the way out.

I think I may have unintentionally misrepresented my situation based on some of the responses I’ve received. To clarify, I absolutely want to continue working with my mentor—I’m just trying to figure out the best way to do so.

When I mentioned starting my own company, it wasn’t because I want to branch out completely; it was more of a question about whether that’s necessary to bring in my own clients while still working with my mentor. My mentor is my first and only mentor, and I’m their first trainee, so we’re both navigating this for the first time.

I’m looking for insights into how these relationships are typically structured once a trainee becomes licensed. What are some common approaches to setting up the business side of things, such as fee splits or agreements? I want to have a few options to present to my mentor when we have this discussion.

 

[Tom D]

You work out the % you get for what you do or bring in. If you have a written agreement then go till you become unhappy.

 

[J Grant]

I think I may have unintentionally misrepresented my situation based on some of the responses I’ve received. To clarify, I absolutely want to continue working with my mentor—I’m just trying to figure out the best way to do so.

When I mentioned starting my own company, it wasn’t because I want to branch out completely; it was more of a question about whether that’s necessary to bring in my own clients while still working with my mentor. My mentor is my first and only mentor, and I’m their first trainee, so we’re both navigating this for the first time.

I’m looking for insights into how these relationships are typically structured once a trainee becomes licensed. What are some common approaches to setting up the business side of things, such as fee splits or agreements? I want to have a few options to present to my mentor when we have this discussion.

Maybe you can just pay the mentor to review each report.

There probably are not a lot of typical situations where a res license trainee stays on after cert this day, so it is personal and individual. Figure out your best split , because you can always negotiate down. Introduce the conversation IMO after you get licensed, not before. And present at as lets explore some options.

 

[Tom4value]

I'm wrapping up my hours and classes in the next few months and will soon be ready to get certified. I've been working under my mentor for free to complete the process, but it’s unlikely they will have any work for me when I am certified.

I’d like to continue working with my mentor while also bringing in my own clients. Is it possible to sign up with AMCs under their business? How should we structure the business arrangement? Would a fee split make sense, and if so, what’s generally considered fair in these situations? Any advice or insights on how to navigate this transition would be greatly appreciat
ed!

You have been working for free? Back when I was an itty bitty trainee I still got paid. My money is if your mentor finds out you are finding clients, you will be dropped like a bad habit.

My personal advice is this. Just because you have a Certification, you are not experienced enough to hang out your own shingle. Find an appraiser who will pay you at least 50%. Then, absorb their advice as a sponge and then help out with growing the business. If your mentor is like me, early 60’s, your long term goal is taking over. Hope this helps.

 

[FD REA]

You have been working for free? Back when I was an itty bitty trainee I still got paid. My money is if your mentor finds out you are finding clients, you will be dropped like a bad habit.

My personal advice is this. Just because you have a Certification, you are not experienced enough to hang out your own shingle. Find an appraiser who will pay you at least 50%. Then, absorb their advice as a sponge and then help out with growing the business. If your mentor is like me, early 60’s, your long term goal is taking over. Hope this helps.

I value my mentor and want to continue learning under them—they’re a great appraiser, and we work well together. My question is, can I sign up with AMCs under their company, or do I need my own? Would being with an established company look better to AMCs?

I’d love to propose a fee-split arrangement to keep growing under their guidance. Since they’re young, taking over their business likely isn’t an option, but I want to figure out how to make this partnership work

 

[Joe Flacco]

Working a trainee for two years unpaid is wrong.

 

[FD REA]

Working a trainee for two years unpaid is wrong.

I was paid at a point but was laid off due to a lack of work. I always worked another job because the income was never enough. My goal was always to work as a first responder and be an appraiser on the side. One I received my first response position, I asked to come back and work for free to finish up my license with the goal of being able to obtain work on my own once certified. Hopefully there's some logic to my thought process.

 

[sputnam]

I value my mentor and want to continue learning under them—they’re a great appraiser, and we work well together. My question is, can I sign up with AMCs under their company, or do I need my own? Would being with an established company look better to AMCs?

I’d love to propose a fee-split arrangement to keep growing under their guidance. Since they’re young, taking over their business likely isn’t an option, but I want to figure out how to make this partnership work

Your question has been answered... more than once. Your business relationship with your mentor is between the two of you. Talk to your mentor. I will say that if you have been working without pay then, you might need to get your license and run. No 'great' appraiser would ask you to work for free. IMO, that guy seen you coming.