Is Part Time Realistic?

[Donald Williamson]

Hi, all. I'm new here, and am seeking input before I get rolling. I have researched the training and requirements of Georgia, and am considering becoming a registered appraiser. However, I'm not sure of the practicality of it.

Let me start by explaining my ultimate goal.

I have been researching my local area for investment property for a little over a year, with the intent of starting a real estate portfolio. Although I am anxious to begin, I want to ensure I understand the local market, and I could, of course, use more investment capital. I thought that becomming involve part time in some aspect of this field might be a good start; however, I don't think I want to become a real estate agent. Therefore, I thought appraisal work might be more of what I'm looking for.

My question is, is there a niche for part time appraisers, specifically in Georgia, but in general, too? Are there companies out there that hire/contract with registered appraisers to accomplish this work on a part time basis? I am not ready to quit my current job, and attempt this full time. I am actually not looking for a career change so much as making additional income from which to build my real estate venture capital (empire ), while increasing my knowledge and understanding of the local real estate markets.

I respect the work real estate appraisers do; however, if there is little or no potential income in doing it part time, I see little reason to invest the money for training, and time making someone else wealthy?

Help! Anything constructive anyone can tell me? I'd apprecitate your insites.

Thanks, Don in Atlanta, GA.

 

[Mike Garrett RAA]

No!

 

[Tim The Enchanter]

Not gonna work. See some of the posts about getting into the appraisal field. Hard to get in, and takes a long time to get to a point of making good money, gotta be a trainee for a year or more generally.

It couldn't hurt to take the classes for your own info, but don't hold your breath on working part time, it's not an 8 hour gig, much less part time.

 

[Dave Doering]

I agree with Lee. Our firm from time to time takes on trainees. However, we are not interested in people that are not willing to make a full-time commitment to becoming an appraiser. We consider being an appraiser to be a serious endeavor and believe that if we want to be considered professionals, appraisers and trainees have give their 100% best at becoming professionals.

We will generally only consider taking on an appraiser-trainee after they have completed the required coursework for for licensure. This serves as a good measure a potential trainees interest and dedication to becoming a competent appraiser. Further, it will tend to demystify the appraisal process and acquaint an appraisal wanabee with the work aspects of the job.

 

[slacker]

Yes, yes, yes.

If you already have your license it is very realistic. If you don't, I'm agreeing with the rest that you will have trouble.

I can name 6 appraisers off the top of my head that would be more than willing to have someone to do 2 or 3 appraisals for them each week. Even if they are new to the biz. Not only would you be working part time, but your mentor only needs to train you part time as well. It's a win - win. You can get a few orders and your mentor isn't spending too much time out of his/her day training you.

You might want to go out of your area to appraisers who get ocasional work near were you live. In other words, look far away for work near by.

It is important to be prepared when asking for part time work as a new appraiser though. Be ready to go to work. Get your license, software, MLS access, and have the ability to perform the basisc's. Anything that the trainer doesn't have to provide is to your benefit.

Go for it!!

 

[Mountain Man]

You need to read the training hours requirements for becoming licensed. Gotta have 2000, but they only give you so long to do it before the count starts over again. I don't know how you are going to do it part time.

 

[Terrel L. Shields]

I agree with Slacker. In fact, if this profession had more part timers, we would be in better shape overall. You will have difficulty in getting your hours in alright, but it is not impossible. Theoretically, 2,500 hr. is doable in 15 months at 40 hr. work week. So in 3 years you should be able to do 2500 hr. work as a one-half timer. Your unit expenses will be higher because MLS dues, etc. go on whether part time or not. But that is not an insurmountable problem.

I recall Tom Peters (if I recall correctly) relating about a Realtor who had a part time salesperson who was excellent and sold a lot of property but would not work but 2 or 3 days a week. He pressured the woman to go full time until she quit. Only then did he realize his mistake.

There will be no small number of us who are over 50 who, in the next decade or so, will be wanting to work less and I see a future with far more part time appraisers than exist now.

Ter

 

[graindart]

Part time work with today's rules for licensure might or might not work. However, the rules are changing and it is becoming tougher and tougher to get licensed. This coming January the requirements for experience and classroom hours are taking a jump in my state. Also, looking down the road 3-4 years, there very well may be a college degree requirement to go along with this.

My training period lasted longer than I had initially anticipated because of changes in the requirements during my training. It seemed like I kept seeing the finish line in sight, only to have some new technicality added to the mix which would delay me another few months.

If you're not concerned with ever obtaining licensure, than part time work will probably pay as well as any other dead end job in your area, but you definitely don't start making decent money until you have your license / certification. If you don't mind the lack of money, the part time work would surely help to educate you in the real estate world.