Getting Started

[nora]

I'm a UC Davis graduate in Northern California (Sacramento area) and I just started working for a self-employed appraiser. After doing some research, I noticed that once I have the education requirement fulfilled that I can do appraisals on my own with the supervision of a licensed appraiser. I plan on having the course work completed by April at the latest.

My question is, once I have my trainee license, can I work for multiple appraisers as an independent contractor (not an employee) and fee split with them? Is this common?

 

[Bob Ipock]

Check with your state appraisal board. This varries from state tot state. In North Carolina, you are permitted to work for multiple supervisors.

 

[Mike Garrett RAA]

Perfectly legal here....One suggestion; however, find one who is a really good trainer and stick with that person until licensed.

 

[nora]

How do I know if the appraiser I'm working for is good or not if I only work with one? The one I currently work for was referred to me by my loan officer but how do I know there aren't better ones out there?

Ideally I want to be an independent contrator and appraisers who are licensed could order an appraisal through me (i.e. website, fax). So I would have the same self-employed freedom as someone who already has there license but making only half as much until I get my hours.

 

[wyecoyote]

Nora,

My advice stick with one appraiser to train you for the next couple of years until after you get licensed/certified. As far as knowing if the apprasier you currently work for is honest or not. That is something you will learn after time. You tend to get a "gut" feeling. The other way to look is a) do you have several plat sales or sales located very close to your subject that are "clones" or very good comparable sales. b) Is the appraiser choosing to ignore deffered maintenace, external/functional/physical obsolense (sp) to make a "deal" work. c) Telling you to disregard completely USPAP. These are some small items again it takes time and would never recomend you go it alone until after you work and gain experince.

Ryan