Fee work

[Zoe]

Time to diversify.

Trade in your flipflops and shorts for pants, dress shoes and an alarm clock for a job in the govt. Federal or state, assessor to eminent domain, property manager to acquisition.

So many jobs out there a CG is qualified to do. Pick up a few fee work jobs on the side and enjoy benefits you never had while getting multiple paychecks.

If you think doing a couple mixed use properties a week will sustain you for the next 25 years, good luck with that.

GS-13 STARTING at $103k as a 'Business Appraiser' in three cities in SC. Just gotta look.

Yeah and that job probably has benefits like health insurance, paid vacation, retirement fund, etc, so you can probably add about 20% to that $103K at least.

 

[Zoe]

Time to diversify.

Trade in your flipflops and shorts for pants, dress shoes and an alarm clock for a job in the govt. Federal or state, assessor to eminent domain, property manager to acquisition.

So many jobs out there a CG is qualified to do. Pick up a few fee work jobs on the side and enjoy benefits you never had while getting multiple paychecks.

If you think doing a couple mixed use properties a week will sustain you for the next 25 years, good luck with that.

GS-13 STARTING at $103k as a 'Business Appraiser' in three cities in SC. Just gotta look.

The kicker there is your boss will protect you to the best of their ability unless you really screw up. Then you lose your job and who knows what else.

Good advice to OP.

The boss has so many internal controls that is unlikely you screw up. The boss will fire you before you screw up much working for govt as appraiser.

 

[RichMahagony]

I don't know your background and competency in appraisal, but if you can handle assignments on your own and think you can obtain work independently, and especially if you're currently getting paid peanuts, then that "leap" is less risky. Sitting here looking over a report from a national firm that sent out a low totem-pole appraiser on a 300+ mile round trip to do a $1,200 office/warehouse report just a few years ago (sad face). So you're definition of peanuts could vary depending on who you are

In my experience, the MAI in present day wouldn't have earned more for me than the annual cost to maintain those three letters. Maybe not true if you get into very specialized work, though. Does your firm take a fair cut of the already low fees, and in exchange do they help share certain expenses?

To be transparent, the split is 55/45 with 45 to the firm. And they carry ALL overhead (subscriptions, insurance, software, office space, etc.). All I need to do is show up and submit credible work within the turn time. So I am very fortunate in the regard that overhead is cared for. But it dosent seem to translate to more money in my pocket considering the decrease in both bid activity and fees.

 

[RichMahagony]

Meant to reply to JTip here. Oops

 

[RichMahagony]

Time to diversify.

Trade in your flipflops and shorts for pants, dress shoes and an alarm clock for a job in the govt. Federal or state, assessor to eminent domain, property manager to acquisition.

So many jobs out there a CG is qualified to do. Pick up a few fee work jobs on the side and enjoy benefits you never had while getting multiple paychecks.

If you think doing a couple mixed use properties a week will sustain you for the next 25 years, good luck with that.

GS-13 STARTING at $103k as a 'Business Appraiser' in three cities in SC. Just gotta look.

TBH I applied to a federal appraisers position in June where the listing closed on the 16th of this month. Just got a notice email a few days ago that they have begun reviewing applications for this position. If that opportunity opens up, I’m gonna take it as you suggest

 

[Zoe]

TBH I applied to a federal appraisers position in June where the listing closed on the 16th of this month. Just got a notice email a few days ago that they have begun reviewing applications for this position. If that opportunity opens up, I’m gonna take it as you suggest

You'll do good. Focus on public trust in your interview. I am sure many want that job.

If you don't get it?

Your doing good. Keep looking.

 

[Zoe]

Another thought, if you can't get that job? Ask if they have a lower job right below that job? Or a different area. They know what is available.

Not just in their immediate realm. Think outside the box.

 

[Gobears81]

Some clients want good, competent appraisers and they will pay for it (within reason). There are very few sectors that haven't seen an increase in fees in the last few years, but we are in one of them. Some banks only award to the lowest fee - there was a client that started using a commercial AMC, and I put in a good bid when they moved over, then was questioning if I left too much money on the table - didn't even get the assignment, so I don't waste my time with the commercial AMCs or the clients that shop around for the lowest fees anymore.

I would try to networking with non-lending clients: attorneys, municipalities, engineering companies. For your CE this cycle, maybe consider taking classes that diversify your skills like eminent domain and ad valorem work. The more diversified that you are, the less affected your workload is to the interest rate cycle.

 

[RichMahagony]

Some clients want good, competent appraisers and they will pay for it (within reason). There are very few sectors that haven't seen an increase in fees in the last few years, but we are in one of them. Some banks only award to the lowest fee - there was a client that started using a commercial AMC, and I put in a good bid when they moved over, then was questioning if I left too much money on the table - didn't even get the assignment, so I don't waste my time with the commercial AMCs or the clients that shop around for the lowest fees anymore.

I would try to networking with non-lending clients: attorneys, municipalities, engineering companies. For your CE this cycle, maybe consider taking classes that diversify your skills like eminent domain and ad valorem work. The more diversified that you are, the less affected your workload is to the interest rate cycle.

Great advice, thank you.