Income

[dcnewbie]

I am currently taking classes in Real Estate (Finance, Law, and Appraisal). I was wondering what sort of income is typical (if there is a typical amount) one could expect as an ethical appraiser in the DC metro area once licensed. I understand that it is a difficult profession to get into but I'm interested. Any replies to this post would be appreciated :roll:

 

[Mountain Man]

I don't know about the DC area, but my general experience is that you may get paid about the same as the starting salary for a new police probee or teacher. ($20-25K/year.) Once you gain a couple of years of experience, then your income will start to go up. It is then, that you can start paying off the student loans and credit cards. :wink:
Mell

 

[Tim Hicks (Texas)]

It also depends on the real estate market in your area. Sooner or later, the interest rates will rise and refinances will dry up. If you are dependent on refaince work and don't get too many appraisals for sales, then you are in for dire straits. I would not expect more than $25,000 your first three years. If you make more, consider yourself lucky and don't count on it to keep growing. Once you get established, then you can make a decent living. You were right to mention "ethical" in your post. An ethical appraiser must work hard for acceptance. If you journey down the "dark side", you may never get back on the right path.

 

[Mike Garrett RAA]

typical in my market is $20,000 to $30,000 a year while training. Some do more, some do less. Consider the cost of your training to be $12,000 to $15,000 a year. Some of my former trainees are earning more than $50,000 with less than 5 years in the business.