How much an average residential appraiser makes per year

[Allen Bruckner]

Monty,
Most trainees have this huge number in mind. That's why they chose this profession. "Someone said there is huge money in this business". There are a few Skippy shops here in S Florida who do make that. Most make a lot less. All I hear is how slow many are. The goal of $125,000 is maintainable, without killing yourself and being a one man shop. The competition is also getting out of hand. As yourself there are virtually thousands of new trainees looking for a piece of the pie. Just don't quit you day job yet.

 

[Ray Miller]

$250K is a lot of income. Is that gross or net pre tax or after taxes.


I feel I have done it right over the years but to bring in $250 a year is out of the question for the appraisal business.

I can see someone who have been in the industry for 15 to 20 years and having MAI doing that. But nothing less.

I am happy if I can get a 10% average return on my investments and business after all is paid said and done.

 

[Made2Last]

Wow!

Question-

What else do any of you guys do besides appraising???

I have a part time job working 10-15 hrs a wk that gives me an additional $2800 a month. I like doing appraisals but I also like to have money and for me the amount of money I make per week doing appraisals always varies. Reading through the posts I read some were people were doing average.

So does that mean that you are content with 30k from just doing appraisals? What is good to one may not be good to another. I like being independent so working on my own time is fine. I also like have 2-3 income streams, because you never know.

 

[Rancid13]

I'm currently in trainee status but have worked full time for 2 appraisers as an office manager for the last 9 years. I average $55K/year (all #'s are gross) for just in-office work. One boss brought in just over $200K last year (a 'slow' year for us, BTW) doing only residential work for lenders/estates and the other boss brought in ~$125K doing mostly relos & court-related appraisal work.

During busier times it's not unusual for them to do twice that amount (with bonuses for me to boot) but at the cost of higher stress levels for all of us, and longer turn-times for the clients to put up with. There are 3 full time appraisers in the office that I work with (the 3rd does contract work for the 2 others, who each run their own company out of the same office).

~Jennifer

 

[erick anderson]

I just started doing residential appraisals under a mentor (friend of mine) part time. I have not started going to school for appraising yet, but have plans to this September. I have a full time job as a network engineer making approximately 60,000 per year. I'm trying to decide if I should stay in engineering and do appraisals on the side, or work towards doing appraisals full time one day. In your opinion, how much does an "Average" residential appraiser in your area make? Let's say this appraiser has had his/her license for 5 to 10 years. How much, in your opinion, does an average Commercial appraiser make? Any comments will help.

Stick with the IT job for consistent income. If you want to make big $$, and have the personality and drive, get into RE sales.

 

[innocent114]

It depends on your drive, your area, your properties. Put simply, too much work, for the buck.

 

[Greenback]

So does that mean that you are content with 30k from just doing appraisals?

As an Appraiser Trainee: I'm content with food on my table, a roof over my head, clothes on my back, my relationship with both of my supervisors, the friends I have, my Lord, the fun I have doing Appraisals and reading the real estate market.

I made $6,000 last year and I could care less because I am happy with what I have accomplished so far in my Appraisal career. I am completely content with my simple life.

I will most likely make more money this year, but I am not counting. I just plan on surviving, being happy with what I have and, improving myself in order to take care of a family that I expect to be a part of/love when the time is right.

As a residential Appraiser: I expect to make a decent living to fill the necessities in my life with an adequate reserve for emergencies and leisure/entertainment.

As a person just wanting money: I can simply invest my knowledge into the market and then sell when the time is right. If I want to make more than the average, I will need to better myself as an Appraiser in order to do so.

 

[Smokey Bear]

Uh oh! Is Benji back with us?

 

[Smokey Bear]

Uh oh! Is Benji back with us?

Benji who left in such a snit that he asked for all of his prior posts to be removed? Maybe he should be given honorary addict status.

 

[Mack Mitchell]

Uh oh

Benji who left in such a snit that he asked for all of his prior posts to be removed? Maybe he should be given honorary addict status.

The board was pretty rough on ole Benji. Can't stand the heat get out of the kitchen.