How much an average residential appraiser makes per year

[Fred]

In a lot of cases, the "average" residential appraiser makes more than the good ones.

 

[Vegan702]

Some states you do not need your education until you go to get licensed. So you could have been appraising for 2 years and have your 2500hrs or whatever your state requires then take your classes all in one week and then get licensed the next week.

 

[Mike Kennedy]

STAFF / EMPLOYEE AVERAGES - MISSOURI >>>>> (est. independents 50-100% more GROSS with 5-10+ yrs in buz)

http://www.indeed.com/salary?q1=real+estate+see&l1=Missouri

 

[millerappraisals]

Kurt,

I believe you have the cart before the horse.

Your userid is 'millerappraisals' and states you are an appraiser trainee.

But you said, "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". (My bold)

Since you have no appraisal education, are any of the hours you are working even usable for your experience hours? My guess would be no they are not. Do you have a MO appraiser trainee registration/license yet? Before you invest a lot of time, effort and $ in this venture check with the state regulatory agency on all of the state requirements & rules.

I hope you are not advertising yourself as an appraiser yet (Miller Appraisals???) That might get you into trouble with the state.

Take this entire process slow & easy. Don't skip a step or move forward without knowing ALL of the details and requirments. Doing otherwise could cost you a bundle of time & money.

As far as annual salary, take a look at all of the jobs your mentor has taken in over the last month, multiply times the averge fee and then multiply times 12. This should give you have a good idea what your potential is in the future. Every area is truly different on income for the following reasons.....
1. Total # of License/Certified appraisers covering the same territory.
2. Total # of appraiser trainees covering the same territory.
3. # of residences in the territory in need of appraisal services.
4. # of appraisal clients/lenders that hire appraisal services in the territory.
5. # of clients/lenders the individual appraiser has on their client rolls.

Personally, I bet you could do a lot better as an engineer.

Thank you for your input. It is appreciated. Fortunately in Missouri, I do not have to have any education to appraise properties as long as my mentor/supervisor is licensed and signs off on the appraisal.

 

[Willie]

miller I'm going on my 15th year. The perfect solution to your problem would be to keep the day job, and to moonlight doing appraisals. This will give you a feel of the appraisal business and you will be able to make the most informed decision. These days there are many appraisers who wish they had the option to become an engineer within a couple of years, residential ones, anyway.

 

[Smokey Bear]

Thank you for your input. It is appreciated. Fortunately in Missouri, I do not have to have any education to appraise properties as long as my mentor/supervisor is licensed and signs off on the appraisal.

Someone PLEASE tell me this changes in 2008????? Supervisor is licensed and signs off is all it takes? What happened to TRAINING?

 

[OSU Beavers]

Washington finally changed to a Learn BEFORE you Earn State last year!

Before then we had trainees comming down into Oregon who had never taken a USPAP or appraisal class!

 

[Vegan702]

Someone PLEASE tell me this changes in 2008????? Supervisor is licensed and signs off is all it takes? What happened to TRAINING?

I don't think the feds can change this requirement. I believe it is state. CA is the same way. I can as an unlicensed appraiser appraise anything I want as long as it is not a FRT. After I have enough hours as unlicensed I can apply for my license without ever having a supervisor. I believe TX has it where if a trainee cannot find a supervisor that will take them on they just need to get 2 signatures from appraisers denying them a position and they can work on their own.

 

[Allen Bruckner]

Did $40,000 1st year Trainee
Did $50,000 2nd year Trainee
Did Double 1st Year Cert
on track for Triple 2nd year Cert.

So Fla, Gotta Love the Cookie cutter world....

 

[Mike Kennedy]

The best I ever did as an apprentice was 40K, but the local skippy drives a Hummer and has a Harley in a trailer behind it. Yeah, life is fair....

The Hummer's leased, and the Harley is his Dads'.:icon_idea: :new_smile-l: (or his Moms'!!)