I'm Walking Away

[Joe Flacco]

I'm thinking about taking a break from appraising as well.

 

[Michigander]

Definitely keep that license going. Sorry you feel you need to leave, but I completely understand. This profession has become brutal over the past 10-years or so and is likely to get worse before it gets better (if it gets better). Good luck with whatever you do.

 

[Deleted member 77547]

Back in 2012 I had my first epiphany that it was crazy to work 12-16 hour days 7 days/week. I decided I needed to regroup. I keep a 6 month cushion of savings to live off of (just in case) so I decided to take a three month mental health break to regroup. I took October-December 2012. The first week was spent cleaning up what was left in the pipeline. The next 3 weeks were spent cleaning and moving my office to a spare room. Then I took 3 weeks to go to Peru hiking/sightseeing. I came back in time for the holidays. I figured I'd lose half my clients but I was at a point where I didn't care. And it didn't happen. I ended up dropping a couple and kept the ones who were the least troublesome.

About a year later I realized that fee appraising had served its purpose. It allowed me the flexibility I needed when my kids were small but it was time to move on. The job market wasn't doing so well at that time and I had trouble finding work in Chicago that would sustain me (wages tend to be lower there.) I looked for about a year and then expanded my search to neighboring states. I interviewed with a few places in Minnesota and was hired by a county within four months. I took the leap of faith and jumped in. I kept my home in Chicago, just in case it didn't pan out, but it did and I eventually bought a home here. I have a far better quality of life now. I received a reciprocal license in MN and took a few classes to get a MN Assessor's License (two different things) and kept my Illinois license until this past renewal.

Keep the license. You can always pick up a few side hustles along the way. Good luck! You can do it.

 

[Joe Flacco]

Working 12-16 hours per day and 7 days a week to earn enough means fees are too low. Base fees need to be $600+

 

[Joe Flacco]

But then it seems like half of the appraisers can do two in a 8-10 hour day so $600 base fee doesn't make sense either.

 

[Deleted member 77547]

Working 12-16 hours per day and 7 days a week to earn enough means fees are too low. Base fees need to be $600+

My fees were fine. It was the volume and frantic pace that crept up and took over like a frog in hot water. I mainly did complex high-end stuff that others wouldn't take. (partial interest, 30,000sf homes., court stuff, lake Frontage on Lake Michigan, etc.) My fees for those started at $1,000 and went up to $3,500. I had clients who trusted me emphatically with these assignments because my reports were thoroughly explained, cohesive and well supported. A few times when I was really busy, I quoted higher fees and longer turn times (assuming they'd try and find someone else) but they agreed and waited! I earned enough to take months off at a time....so the fee wasn't the issue. just burnt out.

 

[Joe Flacco]

My fees were fine. It was the volume and frantic pace that crept up and took over like a frog in hot water. I mainly did complex high-end stuff that others wouldn't take. (partial interest, 30,000sf homes., lake Frontage on Lake Michigan, etc.) My fees for those started at $1,000 and went up to $3,500. I had clients who trusted me emphatically with these assignments because my reports were thoroughly explained, cohesive and well supported. A few times when I was really busy, I quoted higher fees and longer turn times (assuming they'd try and find someone else) but they agreed and waited! I earned enough to take months off at a time....so the fee wasn't the issue.

Mostly $1000-$3500 fees and volume? Dang. You must be balling then. I bet you if you raised your fees more then you would have less volume.

 

[Deleted member 77547]

Mostly $1000-$3500 fees and volume? Dang. You must be balling then. I bet you if you raised your fees more then you would have less volume.

I didn't do as well as some but better than others I imagine. Just developed a niche many others didn't want to deal with and I wasn't afraid to go to court. I was also blessed to be surrounded by some pretty great MAI's who were always happy to banter and bounce ideas around for a burger and a beer. They were a valuable resource for me.

 

[Joe Flacco]

I wasn't really talking about your situation. I was just talking about in general. A lot of appraisers say they work 12-16 hour days and seven days a week.

 

[Deleted member 77547]

I wasn't really talking about your situation. I was just talking about in general. A lot of appraisers say they work 12-16 hour days and seven days a week.