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drew

Thread Starter
Freshman Member
Joined
Feb 4, 2002
There obviously is a need in this current market for more appraisers. I have been doing some research on the appraisal trainee position. The educational requirement to sit for the trainee exam is both inexpensive and a relatively short course. If this is the case, why is there not an over abundance of appraisers? This looks like one of those- If it looks to good to be true, it usually is-situations.
How difficult is it to obtain employment as a trainee. Is previous finance experience required? A college degree?
What is the market in Northern California?
 

cgjerdetu

Junior Member
Joined
Jan 29, 2002
Professional Status
Certified Residential Appraiser
State
California
Drew:

There is a catch. As a relatively new appraiser myself (3 years) I believe the toughest part is finding a supervisor willing to take on a trainee. I found that there are very few companies who want the liability of training someone. I would recommend lining up a supervisor first before actually going through the expense of the coursework and getting the trainee license.

Carolyn Gjerde-Tu
San Francisco East Bay
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I would disagree with you about being a shortage of appraisers. In my market there is an under supply of "well qualified" appraisers and an over abundance of "newbies". Most lenders have experience qualifications and want appraisers with X years experience.

I faciliate a registered appraisers course and we have had more than 100 people take the 75 hour course in the past year. About 70% pass the state exam, of that about 20% actually make it into the business. In my state, you must work for a licensed or certified appraiser for 2,000 hours before you can sign off on the appraisal on your own.The problem is finding someone who will take you on and train you.
 

Leon Stewart

Member
Joined
Jan 15, 2002

Drew:

There is a catch. As a relatively new appraiser myself (3 years) I believe the toughest part is finding a supervisor willing to take on a trainee. I found that there are very few companies who want the liability of training someone. I would recommend lining up a supervisor first before actually going through the expense of the coursework and getting the trainee license.

Carolyn Gjerde-Tu
San Francisco East Bay
Drew:

You got that right, you have to know where you are going before you get on the Bus.

leart3
 

TEL2002

Elite Member
Joined
Jan 16, 2002
Professional Status
Retired Appraiser
State
Louisiana
Do not give up your day job. I've been at this 5.5 years now, and just went full time last June. Until then at times I thought I was working 3 jobs and only getting paid for one, however, an education does cost money. I figured my first 2-3 years was just that...an education.

Every states rules differ a little. But, I think there is no rule that says you have to do appraisals under a supervisor...as long as those appraisals are for no one but you and your state certification process. Here's how you can gain some hours, but there is no pay and no boss or supervisor.

Get a computer, a digital camera, take the appraisal classes, and get some appraisal software. (some software you can get on 30 day free trials...try several before you make up your mind.) Join your local board of realtors as an affiliate member. Get the MLS books. Go to an open house, explain what you are doing. Write an appraisal on this house. It goes no where but your file. Do a couple, then call an appraiser and offer to buy lunch if they would critique your work. Take your work back to one of your appraisal class instructors with the same offer. Suggest you start with the 2055 form...do several then progress on to the 1004. The 1004 is a ittle more complex in filling out. Each of these reports ought to be worth 5-10 hours of experience. My 1st 3-4 reports I know took 20 hours each. 5 hours was getting chewed out for making mistakes, 5 hours was spent driving back to the inspection site and comps 2 or 3 times because I overlooked something. I bet if you did enough of these, you could walk into an appraiser with some completed reports and they just might pick you up as a trainee, because you have already proven you can stick to it and you are determined. Better you help them, than their competition.

Good luck!
 
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