Finding a niche

[TKA524]

I will be getting my Residential License in a couple of months and wanted to find a specialized area to go into. I was considering Machinery and Equipment appraising for there seems to be a strong demand in my area for it. I know there are four or five classes I can take that cover this area of appraising but I do not know if that will be enough to take on these reports without any experience actually doing them? Do you have to have a General License for this or be a commercial appraiser? Does anyone have any input on this type of appraising or other niches that are out there?

 

[The Warrior Monk]

You don't need a real estate license to appraise machinery and equipment.

 

[Stephen J. Vertin MAI]

David:

What kind of guitar is that in your photograph?

 

[The Warrior Monk]

That's a six-string bass (built by Fodera).

 

[TKA524]

David,

Thanks for the info. Are you familiar with this type of appraising? If so, what kind of demand is out there for this and where can I go to get more info? Or are there any state licensing requirements? Any information you could provide would be very helpful.

 

[The Warrior Monk]

I am completely unfamiliar that type of appraising. The best I can do for you is to point you to the American Society of Appraisers website:

http://www.appraisers.org/

With these specialities, you will likely have to work as apprentice, and it will take a while for you to establish the experience and reputation. It is my understanding that the fees are good, but you won't get the clients without the reputation.

Our office on rare occassion have used outside appraisers for the appraisal of certain specialty equipment (e.g., fuel tanks) for value-in-use assignments.