How to get business?

[Ryder]

Move to a geo area where there are few appraisers/they need people, which is often a more rural or outlying area . Or quit appraising while you are younger and train for something else, or apply to the county assessor's office, or dig in and get the CG license.

I think the reality is private work is limited, and takes years to build referrals and contacts to them, the AMC dominance has made the field not feasible in areas with too many appraisers and getting lenders who order direct and don;t use AMC's is possible for might be tough for a less experienced appraiser to get on the list.

I'm not opposed to relocating, but how do you find areas that need appraisers? CG sounds good, but I need an income before I get into that.

 

[gorillakimchi]

Rural areas... How about Fresno, CA if you are not opposed to relocating?
I was thinking about to go there actually...
Btw, where do you live now?

 

[J Grant]

I'm not opposed to relocating, but how do you find areas that need appraisers? CG sounds good, but I need an income before I get into that.

Call the AMC's or email them and call the lenders or email them and ask them where they need appraisers, where there is a shortage - if many of them tell you the same areas, then you are on the right track. It depends also if you are willing to locate out of state or not. It seems, from my experience, that the areas tend to be either rural or very poor/rural and or a place with bad weather or difficult terrain.

I can tell you one area I know personally wrt Florida where the lenders ( and I assume AMC's since they work for lenders ) are desperate for appraisers, and that is in far west Palm Beach county in the towns of Pahokee / Belle Glade /Clewiston ( and surrounding areas ) . I did 2 appraisals there years ago and then refused to go there. The only areas I turned down work in my county. The clients would tell me they were having a very hard time finding an appraiser. I assume eventually they found someone. The area is only about 1.5 hours from where I live, but the drive is dangerous to get there have to travel a 2 lane highway through sugar cane fields with huge trucks barreling down. The towns are very poor ( look them up online ), but the areas around them are pretty and rural. I think one day in the future, more development will come in some form.

 

[Raven59]

Times are tough, especially in the residential arena. I suspect money is an issue but if possible use this down time to take education to diversify your skills. Buying lists will likely be a dead end. Private work will need to be targeted and without a lot of experience will be difficult to sell yourself, but certainly possible. Have you considered a government job to gain skills and carry you through this time? There are a lot of appraisers seeking the mortgage work so that path does not look as a viable option. Look where others are not.

 

[J Grant]

Getting a part-time or flex-time job until things get busier/ you find a better area might be an option. See over the next few years if whatever path you take yields a sustainable income as an appraiser wrt whether to continue in it. Training for a cert gen license means more opportunity and options and income, but it is an additional time commitment, about equal to that of training or education for another field.

 

[Terrel L. Shields]

In person or online.

I think most loans are done online these days.

Maybe in a larger urban area. Here, most lending is still local banks and mortgage companies. While some things may exchange info online, many banks have their own closings in the bank or at the title company in person. If a buyer is out of state, then perhaps online via the title company. I am involved in a closing now, and like the last one I did, we will close at a title company office.

small banks and credit unions assign over a portal like Merucry

As for Mercury, I've yet to encounter a bank who uses them here. And probably the most popular platform the small and regional banks here use are bid systems like Exact (Rims). BTW, you can sign up with RIMS. I think they charge by the number of counties you cover. That was an issue for me since I live near the corner of 4 counties- 2 in each of 2 states.

Getting a part-time or flex-time job until things get busier

Exactly. You might even try to get on a bank as an appraiser-reviewer, even ordering appraisals. Get your RE license - usually is cheap, or, apply to the title company doing title work. Title work background was really useful back when I started, and we had to actually go to the courthouse to get tax cards and data on sales. You need work and think in terms of a long-term planning of a career.

Other areas I would think about is appraising things besides real estate and you might also try applying to regional insurance offices as an underwriter or adjuster. And there are independent adjusters who sub out during storm events. Speaking of which another source of income is to apply as a contractor for FEMA. We've had several former forumites who did FEMA work. It can be tough, Katrina was a nightmare situation but FEMA sent dozens of contractors there.

https://www.FEMA.gov/careers

 

[J Grant]

Maybe in a larger urban area. Here, most lending is still local banks and mortgage companies. While some things may exchange info online, many banks have their own closings in the bank or at the title company in person. If a buyer is out of state, then perhaps online via the title company. I am involved in a closing now, and like the last one I did, we will close at a title company office.

As for Mercury, I've yet to encounter a bank who uses them here. And probably the most popular platform the small and regional banks here use are bid systems like Exact (Rims). BTW, you can sign up with RIMS. I think they charge by the number of counties you cover. That was an issue for me since I live near the corner of 4 counties- 2 in each of 2 states.

Exactly. You might even try to get on a bank as an appraiser-reviewer, even ordering appraisals. Get your RE license - usually is cheap, or, apply to the title company doing title work. Title work background was really useful back when I started, and we had to actually go to the courthouse to get tax cards and data on sales. You need work and think in terms of a long-term planning of a career.

Other areas I would think about is appraising things besides real estate and you might also try applying to regional insurance offices as an underwriter or adjuster. And there are independent adjusters who sub out during storm events. Speaking of which another source of income is to apply as a contractor for FEMA. We've had several former forumites who did FEMA work. It can be tough, Katrina was a nightmare situation but FEMA sent dozens of contractors there.

https://www.FEMA.gov/careers

Your area is caught in a time warp, and your commercial license perhaps is in demand by local banks that farm out their res work to an AMC. People need a realistic picture of what most areas offer so they can make smart decision rather than waste years banging their head against a wall. Your other ideas are good with insurance or assessor work. Getting on a FMEA list idk how much that offers appraisers - those events are sporadic and the banks and clients tend to use their regular local appraisers and send them out to do a disaster inspection report, often of the properties they have already appraised..

Portals such as Mercury often assign to appraisers already on the list of a client so idk if signing up cold for them helps but it is free so worth a try.

 

[The Bob]

This is a list of counties in CA that the VA has a need for appraisers...

High Demand Counties for Appraisers

California	Siskiyou
California	Modoc
California	Trinity
California	Lassen

Chances are, if they need appraiser's in these counties, other lenders do too.
The complete list is on this page under Counties Where Appraiser's are Needed (about mid page, click link and it will open an Excel SS).

https://www.benefits.VA.gov/HOMELOANS/appraiser_fee_schedule.asp

 

[Terrel L. Shields]

the banks and clients tend to use their regular local appraisers and send them out to do a disaster inspection report,

FEMA assessments are above and beyond what the bank is figuring. Ditto insurance estimates. And 'disaster' is common everywhere year around.
Every tornado, hurricane, flood has a need for assessment. Currently, we have Texas in flood and tornadoes all over Oklahoma and Kansas. And this is pretty high paying stuff. I think RIMS allows you one free county and you pay extra to cover more. There is another portal besides Mercury and I forgot but got stuck with it once. Quickly dumped it as soon as the assignment was over and never took another from that bank.

 

[J Grant]

FEMA assessments are above and beyond what the bank is figuring. Ditto insurance estimates. And 'disaster' is common everywhere year around.
Every tornado, hurricane, flood has a need for assessment. Currently, we have Texas in flood and tornadoes all over Oklahoma and Kansas. And this is pretty high paying stuff. I think RIMS allows you one free county and you pay extra to cover more. There is another portal besides Mercury and I forgot but got stuck with it once. Quickly dumped it as soon as the assignment was over and never took another from that bank.

These storm events are sporadic, and idk how that is a sustainable income, waiting every few years for a horror show event, and then having to relocate and travel to stay there for a couple of months, and then it is over. Because that's what a FEMA contract is. It mainly would use insurance agents to prepare adjustment reports for damage and not appraisers. The folks who make real money are the govt contracts to clean up or the individual handymen and contractors who swoop in and charge as much as they can to repair damaged homes.

The unsung heroes are the volunteers, both locals and those who travel from elsewhere.