Do It By Myself Or Not?

[J Grant]

I don't know anything about the OP other than this post. If he wants to stay in the expensive SF bay area and work as an appraiser, and needs to last through a slow time till he finds a better situation or gets work from client, if he needs cash ( and who doesn't ) don't overlook non glamour jobs that pay a lot of cash or tips esp if you are near a city, restaurants - bar tending ( can go to school for it ) or even valet parking...might earn more per hour than appraising and do it a few nights a week. I'd hate to drive for UBER personally, but some people do it. Evaluate your situation, options short term and long term, what is feasible for you and what fits your personality. Some people are better suited working for/with someone than being on their own, if that is more true for you than you need to partner up with a better appraiser. A side license in RE might work too...property management or RE sales . Best of luck.

 

[veritus]

Perhaps work out something with present boss where you work for them on a fee per order basis, and are free to get side work, or stay with them/any side work you bring in you get a higher split...or a part time job. Sorry it is so hard right now. FWIW, (unless you plan on getting a general/commercial license) FWIW California sounds like an extremely difficult place to be a res appraiser...unless one is established, an SRA able to get in with banks , or a great schoozer with RE agents. I have a good friend who appraises in san Diego, like so many she lost direct clients after HVCC, she had some good years after but the last 3 barely able to eke out a living. If I were younger and living there and had any options I'd look to move to a different state with more work and or better fees ( she tells me res fees have dropped there as well which is a terrible double whammy considering living costs there ). You might want to use the time to see if moving is an option...if not, get a strategy for bringing in clients, go for the SRA so you can set yourself apart, something...AMC;s pay little there from what she tells me though some works is better than nothing....best of luck try networking with RE agents.

So you believe the best way to get direct lender work is to find real estate agents that work for direct lenders? or get an SRA to go the direct lenders straight away? If I am understanding you correctly, than this was very insightful.

 

[J Grant]

RE agents do not work for lenders. They can though recommend an appraiser to a lender or the RE agent can engage an appraiser or refer them to a buyer or seller needing an appraisal.

 

[Terrel L. Shields]

I paid 85% to my certified appraisers.

 

[andrew81]

while training i was paid 20% of the assignments i performed.
after certification i was paid 35% of office gross income.
the office included myself, supervisor, and a full time office manager.
i paid vehicle, licensing, insurance, and education.
i now work out of my home office.

while i do have a higher income and enjoy being home every morning and after school with my children, it is also easier to get distracted. i am here and not working lol

 

[Joe Flacco]

I paid 85% to my certified appraisers.

That's because all you need is money for gas to put in your tractor.

 

[ValueArtist]

Mortgage markets in CA are extremely slow right now. Try lowering your fee to $100.00 for a full appraisal.. Hahahaha Just kidding!

 

[Riick]

Always hard to get started. I remember talking to a buddy who's a Dentist about getting business. Now everyone here will be up in arms against me, but Sandy's advice just as good today.

"You'll do what everbody else does, you'll cut price until you're established"

Meanwhile, work for several shops if you can, always looking to go on your own.
When I was out doing that, the split was usually 50-50.
My thoughts were it would be better to work half as hard, for twice the money.

Problem is, getting that very first client.
Nothing else to do but keep contacting potential customers and banging your head against hard place, until you connect. After several years, a Broker I got friendly with, told me that Bank XYZ needed someone for their CRA loan program. My own client. I almost didn't cash that first check, wanted to frame it.

Good Luck !!

 

[Restrain]

Given the trends, apply for work at the state Department of Transportation or the assessors office. Keep your name out there with the AMCs and do appraisals on the side. A steady paycheck and benefits will keep the lights on.

 

[Amy Perkins]

Can you do your own work on the weekend to start or do you have an agreement that you can't do other work? There is a low level of work right now. I did not find when I was Certified that they wanted five years experience. I think your quote matters more.
Here is a report on why we have little work right now...

https://www.yardeni.com/pub/mortgageapprate.pdf