How much an average residential appraiser makes per year

[Lawrence R.]

This make the math easy,
TC

Math easy, yes.

Grammar...not so easy even for you TC.

Hugs and kisses,

Larry

 

[Jeff Squire]

If for some reason, I absolutley had to make $250,000 a year, I would not pick this proffession.

 

[MBuehler]

You have the ability to think outside of the box.

A person who offers many SERVICES in this day an age can achieve almost any amount of cash flow they desire, if they do it right. You don't have to do it yourself, but to have a team that works together well, is the key.


I'm in college studying ALL building codes, and doing appraisals as a trainee. You just have to drive yourself to what you desire.

And Jeff, I don't absolutley have to make $250,000 a year. But I like to have a goal to drive towards. Just keeps me focused.

 

[GENTEEL]

You have the ability to think outside of the box.

A person who offers many SERVICES in this day an age can achieve almost any amount of cash flow they desire, if they do it right. You don't have to do it yourself, but to have a team that works together well, is the key.


I'm in college studying ALL building codes, and doing appraisals as a trainee. You just have to drive yourself to what you desire.

And Jeff, I don't absolutley have to make $250,000 a year. But I like to have a goal to drive towards. Just keeps me focused.

From sales and marketing point of view, setting up a goal and working hard to achieve it by various ways and means, sets the standards of becoming aggressive, motivated, focused and clientele driven. Keep it up and all the best. From my perspective and personal experience though, I've been successful by being client driven rather than $ driven.

 

[MBuehler]

True Genteel

I am also client driven.

And the more clients I service, the more money I bring in.

You can replace $250,000 with "many happy and returning clients"

 

[The Warrior Monk]

IMHO, the $250,000 a year level is almost impossible to attain if one is doing strictly residential work as a one-man shop. I could imagine it happening under a specific set of circumstances, but that is likely to occur for a fraction of 1% of appraisers.

OTOH, I could see a general certified appraiser making that kind of money in many areas of the country. If you're averaging $2K-$2.5K per report, that's 100 to 125 per annum.

 

[Blueprint]

I make very little money and don't intend to get rich from appraising. I didn't expect good pay yet I did expect good consistent information from my mentor. There is potential to be a competent appraiser and make good income. All depends on a peeps money making/happiness ratio. For me, there is much more potential in being a competent appraiser and also having other avenues lined with gold. The masses are focused on today's market negatives. Their fears prevent them from diversifying their knowledge base into other arenas. Nobody can advise how well you do as an appraiser. Only you will define your success in this industry.

 

[Michigan CG]

OK...$250,000 a year. Lets get very real here. Most MAI's don't make that kind of money, and they are the best paid appraisers in the business (because they have earned the right to be paid the great fees).

My luck is not that I am a Certified General Appraiser, my luck is that I work for an MAI Appraiser where we get fees that are up to $10,000 and sometimes beyond. Now I have heard of appraisers making $250,000 a year, but they are hopefully appraisers with A LOT of experience with underlings who they supervise well...meaning they go to inspections, and most of the time comparables. They are very involved in the report.

Have you read about the subprime market? Have your read about the 2 million foreclosures predicted for the next 12 months? Do you know that the subprime market pushed housing prices up for the last 48 months, and now that demand is gone?

We do not do a lot of residential appraisals, but I can tell you that unless you are in very lucrative market the goal of $250,000 is a pretty high goal for a person starting out now as it appears you are.

But I admire your positive attitude. Make sure you are an ethical apraiser when you get to that point in your endevors.

 

[MBuehler]

Everyone is so convinced that a person can not reach a certain number, no matter what, because that is the way it's always been.

Think small, and you stay small.

Think big, and bigger things will come your way.

HEY, you never know. It could be a pipe dream. It could be a reality someday. But I think everyone needs a goal to works towards, no matter what the end results are.

 

[Mike Boyd]

You mentioned something about "Commercial Appraising."

First of all, you should have an accounting background or at least some good accounting education. Then you would have to find a good commercial appraiser to work for...doing research, grunt work, keeping the office clean, making coffee, etc. Hopefully, this "good, commercial appraiser" is older or is planning on retiring in 5 to 10 years. All this time you would be taking classes and studying on your own time. You might make $30K per year during this period until you were fully licensed as a certified general appraiser.
If it turned out you had a niche for this and could develop a good relationship with property managers, commercial brokers and lenders or sources for the type of commercial property you might specialize in, you could eventually earn upwards of $200K per year. If you have that time and the qualifications I mentioned, do not waste your time with residential appraising.