Is it really worth it?

[Zoe]

I have been a CG since the inception of licensing and it's my assumption that AI and AVMs are eventually going to get into most of our end of the business. Possibly before I retire. Even if its just to reduce most of the drudge work the end result will be a reduced demand for the number of appraiser hours.

My oldest son works in cybersecurity and he loves it because he's always had that interest. I get the impression that if someone doesn't love it then it would be difficult for them to do well in it. But then again the same is true for many occupations.

I agree. Much of commercial work is so driven by the income cap approach that artificial intelligence would just need the input into the program in the near future. I think sales comparison approach and cost approaches would be a little more difficult for artificial intelligence, but the income cap approach is many times the main focus in commercial assignments.

 

[J Grant]

I agree. Much of commercial work is so driven by the income cap approach that artificial intelligence would just need the input into the program in the near future. I think sales comparison approach and cost approaches would be a little more difficult for artificial intelligence, but the income cap approach is many times the main focus in commercial assignments.

Even if AI does just part of the assignment, it would reduce the need for likley the fee for the appraiser.

 

[Zoe]

It could open more doors like if they wanted to be employed by a corporation vs being independent fee appraiser. May have to travel much of the time if they got CG and decided to work for a large corporation or even a govt entity.

I am thinking this person already has like a bachelor's degree that would work in one of the other jobs they mentioned.

They mentioned getting masters. Some jobs would probably require the master's degree.

 

[Gobears81]

If you have a possible supervisor in mind for getting a CG, it would be good to talk to them about the competitive landscape, as that would make a big difference. There are clients that somehow find exceptionally low fee appraisers to work for them, and if that is a predominant portion of your market, don't bother pursuing a CG. But, I can count on one hand the number of months where I haven't been overly busy in the past decade. A flip side of that is I've been fighting burnout for years at an age where that shouldn't be an issue. Our fees certainly haven't kept pace with inflation, and even on the commercial side, the alternative valuation products are just as much of a "competitor" as the other appraisers in the area. My guess is that the other fields you are looking into have no problem keeping up with inflation.

 

[Zoe]

Yeah, if you already have a 4 year college degree that would get you those other jobs, then you would have benefits plus they might pay for you to get your master's degree while you were working.

Some large companies might do similar for you in appraisal, but you would probably excel way quicker on income and your master's on cybersecurity and/or healthcare analyst.

I won't count out some govt entities that might help you in any of your choices.

 

[Zoe]

I'm a certified residential appraiser (12 years so far) considering spending the next year (or longer) upgrading my license to certified general vs getting my Master's in Cybersecurity or Healthcare Policy Analyst. I want to know from Commercial appraisers directly...do you think it is worth it to become a certified general vs a Master's in a Tech or Healthcare field. I am not close to retirement (41 years old) so whatever decision I make needs to be the last career swap for the rest of my life and be a good decision for the next 25 years. Brutally honest answers please.

Let me make this point clear. Some of the appraisers on this forum are independent fee appraisers. Some of the appraisers on this forum are employees.

Do you understand the difference?

 

[Zoe]

Okay, Elvis has left the building.

If you have read posts by different appraisers on this forum, you can figure out if they are employees or independent fee appraisers. It is not really hard to figure out which are independent fee appraisers and which are employees.

You asked for brutally honest answers and even said "please".

Hope we helped you a little.

 

[Zoe]

Travel is big clue. I don't know if you have children or married. If you do appraisal on commercial end for a large company, you will have to travel to remote areas and get temporary license while you are there. You will have to associate with local appraisers and other professionals while you are in the remote areas.

 

[Vernon Martin]

What would you enjoy doing for the rest of your life? My brother and I both recently retired (pensions + social security), but I keep on doing freelance commercial appraisals because I like it, it stimulates my mind, and I get to travel. All his life he programmed missile guidance systems for the defense industry, but I don't see him wanting to go back to work. Now he just "day trades".

But there's not a lot of money at the moment for commercial appraisals, but this profession has always been cyclical, and I don't worry about AI because there has yet to be a successful commercial AVM product.

 

[Deleted member 161486]

I'm a certified residential appraiser (12 years so far) considering spending the next year (or longer) upgrading my license to certified general vs getting my Master's in Cybersecurity or Healthcare Policy Analyst. I want to know from Commercial appraisers directly...do you think it is worth it to become a certified general vs a Master's in a Tech or Healthcare field. I am not close to retirement (41 years old) so whatever decision I make needs to be the last career swap for the rest of my life and be a good decision for the next 25 years. Brutally honest answers please.

I would recommend a Master of Healthcare Administration, or Master of Public Health.