Is appraising a good career?

[Mystery man3]

Don't become an Appraiser!

Appraising stinks right now. I would not recommend it. Too many people have the license.

In addition the profession rewards unethical behavior. If your a honest person you will be a very poor appraiser. Than again if your unethical and willing to do whatever a loan officer tells you to do I am sure you could do quite well at least until you get caught. Too many of the latter are in the profession right now.

I am thinking about getting out. Beats selling out my soul and becoming another yes man for mortgage brokers.

Wonder if Walmart is hiring.

 

[Mystery man3]

It all comes down to how bad you want to be an appraiser. It is tough as nails to get in to appraising right now. Only the strong with a college style education will survive in the long run in this market.

I disagree with Evan. Only the least educated and most unethical will survive in this enviroment. Unless of course the enviroment changes which I am doubtful of.

 

[SmilingDog]

Well said Jeffrey.

This industry is at its end. Wake up and smell the roses...

 

[Elliott]

Jeffrey said, Only the least educated and most unethical will survive in this enviroment.

I don't think that's true. The well educated, ethical and experienced get referral
work. When realtors are asked who is 'good' for estate work, they of course
point to the 'conservative' appraisers. When the mortgage market determines
how it will function so it has credibility, it will be either the low cost AMC route
which has contributed to a number of biggies going under (CW,IndyMac come
to mind) or it will the better appraiser route (which worked when it was tried,
it just didn't maximize the profit and income to security companies and lenders).

But I'm glad neither of my children choose appraising over what they really
wanted to do.

 

[jay trotta]

Elliott
it will be either the low cost AMC route
which has contributed to a number of biggies going under

Some good points you made; but I believe there will always be a need for an appraiser, but it is up to the "individual" as to "how" they would like to practice appraising. There is no Law or education program or teacher that can "make" anyone do the right thing in business. There are securities laws; there is common law and there is one's own reputation and for the most part, that is where the referral work comes from. My son came into the business 6 years ago and enjoys a good working relationship with many of my old Clients, works very hard (14-16 hours a day) and is being rewarde for the effort.
I yam an old believer in you get back what you put into anything, so for the most part the business will move forward and go thru some changes, but there already New Lenders poping up everyday, per requirements, most will need an appraisal for their residential stuff, unless they want to buy back all the mortgages.

 

[Edward OConor]

I'll give you that, Mike. I was hesitant to provide full disclosure to avoid getting scooped on my story! I'm guessing that professional appraisers aren't the only people reading these forums...But yes, Mike is absolutely right. I'd love to interview California appraisers (active or retired) about the pros and cons of the biz...Please call me at 805-653-7552. And thanks for all of the previous posts. I'm impressed by your generosity and support.

The first thing that you learn in appraising is to "provide full disclosure".

IMHO not a good way to start off in the forum.