If I Can't Find A Mentor, I'll Hire One

[Leo Firth]

I have an Idea, why can’t a Trainee hire a Certified appraiser and start a small appraisal business. The Certified appraiser will pay for himself. I will be doing appraisals that will pay for me. I have the money, business experience, and potential client base. Of course, my employee would have to sign off on all appraisals. He would have a job and I would also would be doing appraisals and getting my training hours. If I can’t find a mentor, I’ll hire one. OK guys and gals, were is the down fall in all of this.

 

[Pamela Crowley (Florida)]

Most certified appraisers that are any good (and many that aren't any good) already have their own business. Why would they want to take a cut in income to go to work for you and train you too?

 

[Leo Firth]

You said it Most that's not all. I not looking for 10 or even 2, just one. Possibly a partner? Not all appraisers own their own business. Why woud they have to take a cut in pay? I have the money and business knowlege and he has the appraisel knowledge. A business is a business. It will make money, if run right. A lot of people have knowlege, and no business experience or no money to start a business. Some people don't want to own a business, they just want to put in 8 hr and go home and play with their kids. Everyone acts like the appraisel profession is a mafia and you have to give your first born son to get a mentor. I read the forums and hear how bad trainee's are treated by their mentor or company they work for. People working for $9.00 hr with a with a BA degree. I understand you have to pay your dues. Lets get real $9.00 hr. My neighbor kid works at Dominos and is making $9.75 hr.
I'm sure there are some great mentors, but what I'm reading here it is more the exception than the rule. Am I missing something here.

 

[Steve Wyrick]

Leo,

Interesting idea, where are you located.

If you have that much money, why are you getting into the appraisal business?

 

[wyecoyote]

Leo,

The problem that I see is this. If you have no appraisal experince. When you hire a mentor to train you while you own your own business how will you know that your appraiser is teaching you correctly and not to just hit the number? What type of appraiser will you get to work for you. IMHO most appraisers that do work with an office are there because they can bounce off ideas off of other appraisers.

There are those appraisers that don't like marketing or can not understand taking care of books or paying the taxes that are due every month/quarter/year.

People working for $9.00 hr with a with a BA degree. I understand you have to pay your dues. Lets get real $9.00 hr. My neighbor kid works at Dominos and is making $9.75 hr.

Yes but the kid working at Dominos is not learning a proffesion. Just like any other apprenticeship that one enters into the first year or two you do not make as much as the journey level person even then my cousin is in the Pipe Fitters Union and has 5 years before he makes journey level wages. He is on his third year now and making good money but his first year he had to really budget is money and work a side job at Lowes to make extra money.

These are some things to consider. Even lawyers/doctors go through Internships where they make little to no money.

 

[Willie]

I met someone that actually did that! She may have had some money. She certainly had bank contacts. And she did it. Now she is an appraiser. Strange but true.

 

[Leo Firth]

Steve, I live in Washington State where the employment rate is around 7%. I don't have enough to retire and who wants to do nothing anyway. I looked at a lot of business and liked the appraisal business. I also looked at getting a Real Estate License but for every appraiser threre is 100 agents. I checked with my state and there are only 250 certified in my county and 80 licensed compaired to 2500 licensed Real Eastate agents. No one has to wait for an agent, but try and get your house appraised 2-3 weeks, new home sales are at all time high. Interest rates are at a 40 year low and the Fed's not going to raise rates for a least a year. You need a appraisal to re-fi, buy, sell, obtain a loan, divorce the list go's on.

 

[Tom Foster]

I say go for it. If you shake the branches, your bound to get some fruit. It's a numbers game. Send out 500 offers and you bound to hook one.


If your working for brokers, many like new apprasisers do - be careful. When I started 18 years ago, I took alot of work away from the guys with many years of exp. because I has so good with the values.

You see new appraisers can be molded and manipulated. They want to put you in their pocket and use you. They want to make sure the you don't know what your doing and can always hit the value.

I have long since got rid of those clients, but we did have some good times back in the good ole "1980's"\

Oh those office parties. On several occasions I had laughs until mucus ran from my nostrils. Before I knew it, the sunlight had turned to moonlight and the pigeon calls had morphed into owl screeches.


:blink:

 

[Leo Firth]

Ryan, this is the type of input I’m looking for. Thank you. I have a question for you. If I go work for a mentor, how do I know that he is training me correctly. I don’t, so I’m in the same boat. Your right I have no appraisal experience but I have business experience. Bill Gates does not run Microsoft, he hires people to run it for him. Bill made a statement once. If I don’t know how to do it I’ll hire someone that does. Trust me, I’m no Bill Gates and I don’t even try to compare myself to him. Just used him for an example. Ryan, where did you come up with the idea that most appraisers that work within an office, so they can bounce ideas off of other appraisers. I believe they work there because they like the 8-5 job and don’t want to have the hassle of owning a business, some people are like that. As for your cousin, he is in a union and has medical and dental ins. And when he’s out of work he is put on the work list at the union and when it’s his turn, he will work again. That it I’ll start an appraisers union. Trainee’s don’t have that option. As for doctors, yes they go through internship, but they deal with lives, no one ever died from a bad appraisal. I just want to appraise houses and find a good mentor to teach me the correct way. I read here and see that mentors want to train you their way. How do I know his way is the right way? I bet if I put all the certified appraisers in one room, all you guy and gals would all do it different. So who’s way is the right way? Thank you for your response. I’m just a person that thinks out side of the box.

 

[Leo Firth]

Tom, Thanks for the good advice, I know there is a lot of sharks out there.