Job search advice for a licensed residential trainee & plan B given rate environment

[Ambrosia]

I am a young professional with four years of broad real estate market research experience with national coverage. I am moving to Philly early August from Idaho. I am not from Philly, but intend to make it my home. I have an active PA residential trainee license there, issued in May 2024, but no supervisor yet. I will finish all required classes this year. I'm just beginning on my job search. I have only sent out a dozen resumes to small appraisal firms there, and received just one potential interview.

A few appraisers indicated that my residential track would not be suited for their business. Given my residential track, what kinds of private sector companies should I search for?

One appraiser said that he would like to wait to see what interest rates do. Based on quick research, it seems likely that the Fed will cut rates soon. I am trying not to be discouraged. If I can’t land a trainee position because of adversarial market conditions, which kinds of real estate companies, which would allow me to do similar work even if it doesn’t count as official experience hours, would be least affected by a downturn in the market? What about something like construction estimating or building inspection that would provide more knowledge of how a house is put together? Maybe assisting a realtor or something dealing with the building materials and marketing trends of homes?

Any insight or advice is greatly appreciated

 

[Raven59]

The resistance in the market may not be rate driven but because of overall changes in the residential environment. I believe assessor or highways offices are great places to build a foundation. The good days are numbered in the residential mortgage arena. Your research background might be appealing to a larger firm, even commercial.

 

[Tiffany Gibbons]

I am a young professional with four years of broad real estate market research experience with national coverage. I am moving to Philly early August from Idaho. I am not from Philly, but intend to make it my home. I have an active PA residential trainee license there, issued in May 2024, but no supervisor yet. I will finish all required classes this year. I'm just beginning on my job search. I have only sent out a dozen resumes to small appraisal firms there, and received just one potential interview.

A few appraisers indicated that my residential track would not be suited for their business. Given my residential track, what kinds of private sector companies should I search for?

One appraiser said that he would like to wait to see what interest rates do. Based on quick research, it seems likely that the Fed will cut rates soon. I am trying not to be discouraged. If I can’t land a trainee position because of adversarial market conditions, which kinds of real estate companies, which would allow me to do similar work even if it doesn’t count as official experience hours, would be least affected by a downturn in the market? What about something like construction estimating or building inspection that would provide more knowledge of how a house is put together? Maybe assisting a realtor or something dealing with the building materials and marketing trends of homes?

Any insight or advice is greatly appreciated

Look for any county assessor employee job openings in your area. It is stable work with a pension and benefits. You can start at entry level and they will pay for your classes. Also insurance companies train for building cost inspection, but I don't know much about that business. IAAO has a job search and you can post your resume. Even if you can get a temporary position, it can eventually open up to permanent.

 

[Ambrosia]

Thank you very much for the input. To date, I will be training with a one-man shop GA for commission based compensation. I am hoping that the workload will pick up as I gain competency and create efficiencies.

 

[jtinmichigan]

I personally would not recommend anyone pursuing a career as an appraiser. Its been good for some of us old guys but those days are coming to an end. Automated Value Models and AI will likely drive us out of business. Just my 2 cents.

 

[JTip]

OP will probably never look at this thread again, but whatever....

There is an opening in Philly/KOP for a Property Manager at the DOT. You basically manage leased properties in the district, sell some parcels and other real estate duties.

I know it's not a noon-4pm wearing shorts and flip flops appraiser job, but it gets your foot in the door. Then you will work with the appraisal unit and work your way over. If/when they start looking for a trainee, you will be right there to pounce on it. In the meantime, learn this job, learn the DOT, giving you 'cred' for the next promotion.

Real Estate Specialist, Property Management

The District 6-0 Engineering Office of the Pennsylvania Department of Transportation (PennDOT) is on the lookout for a qualified candidate to take on the role of Real Estate Specialist! If you have a positive attitude, excellent organizational abilities, and a sharp attention to detail, this...

www.governmentjobs.com

 

[J Grant]

I personally would not recommend anyone pursuing a career as an appraiser. Its been good for some of us old guys but those days are coming to an end. Automated Value Models and AI will likely drive us out of business. Just my 2 cents.

I do not think tech will eliminate us, and AI is overrated. But AVM, tech, and greed-driven decisions will marginalize us for GSE work, (barring a reversal of trend and GSE mortgage work is the major source of work for a res license. Commercia license offers more options and they will fare better, but they can be affected as well. Assessor jobs exist in limited numbers but go for one if you can.

I can not fathom why an intelligent younger person wants to pursue a career for a res license only, maybe they can't quite believe things are so bad - or hope to be the last one standing. Idk. There is always an expetion of course, and for the smaller group of very competent appraisers who can do the complex/high value oddballs for res the prospects are better.