• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

How much do you pay your interns?

Status
Not open for further replies.

KELLY HIGGINS

Thread Starter
Freshman Member
Joined
Apr 24, 2002
I am considering hiring a new intern, but I am not sure how much to pay them? I know how time consuming it can be and it is a long term comm :? itment. Consideration has to also be given the fact that if you don't retain the intern after they become licensed, you are training your competition. I would like some input on how other appraiser's handle this.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
You pay interns?
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
Just kidding... :twisted:
 
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Here in NC an internship last for 300 appraisals and 2 years, whichever comes last. I was paid 45% for the entire period. In retrospect I think that perhaps I was overpaid for the first 100 and underpaid for the last 100. I had a good mentor who really earned his supervisory money in the beginning. Later, he got some easy money. I'd recommend a split plan with some steps during the internship.

Lysander
 

ccooper

Junior Member
Joined
Mar 9, 2002
Professional Status
Certified General Appraiser
State
Missouri
There is nothing wrong with explaining to your "potential" new intern that you are very concerned about training them and then leaving. I have trained three and all are still here. I made it very clear in the beginning that when I spent 10 hours teaching them how to appraise one house (when I may be able to get it done alone in 2-3) that it was a long term investment in them. I am not an appraisal college and if I were, then the intern should be paying me.
 

Dave Smith

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Wisconsin
Interns shouldn't be paid. They should pay tuition like any other student. Interns, like students, can be HELL on the instructor and the instructor's time. Teaching is HARD work. The instructor's income goes down due to the drop in his/her productivity and then the intern wants money besides.

I've been there and done that... three times! My wife has specific instructions to shoot me dead with my own gun if I ever utter the word intern in her presence again. Quoth the raven "Nevermore!":mrgreen:
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
50/50......but, they're my children :lol: Extra bennies for them, are free lunches, afternoon snacks, and use of the couch to take a nap after lots of travel. Sometimes I spray polish their shoes, because mothers know that "shoes make the man, or lady".....In exchange, they will NEVER, and I mean NEVER sass me, defy me, or report me to the labor board :D
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
I lied. Actually, I only take $25 out of each appraisal that they do. :oops:
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
And, for the record, after that $25 is taken out, I take out taxes because they are employees here. :wink:
 

Randy Beigh

Senior Member
Joined
Jan 16, 2002
Kelly

Must have different terminology in different areas of the country. To me, an intern is someone that is attending school, like college, and working, generally for free, but receiving credit hours.

I do hire trainees from time to time. This office is employee based and we pay the taxes and provide an office as well as all the equipment. They start out getting 30% of the fee and work up to 50% after licensing.

Hope this helps.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks