Newbie in NJ

[Seano13]

Hi everybody,

I am somewhat of a newbie to this site, but I must confess I have lurked on this forum for at least a year researching the possibilities of becoming a real estate appraiser. Obviously, I've seen quite a bit of negative feedback regarding the profession, however I decided to take the plunge anyway as I have faith. As of right now I am working as an Accounting Manager for a large corporation that is publicly traded. I now have 7 strong years of accounting experience, for which I believe can transition well into appraising. There are many parallels as you all know. I am extremely tech savvy and very adaptable to new software.

At this moment I am 40 hours through the first phase of education(75 hours). From what I understand finding a mentor good be the most difficult step. Does anyone have any suggestions on how to approach this here in NJ? I am in the Toms River area(yes, Sandy came thru here). I am hoping someone will recognize my accounting experience as an opportunity. I would be happy to send my resume if need be.

So any response would be much appreciated and I will be sure to update the forum as my education continues.

Sean

 

[GCJim]

Seano13,
You have come into the profession (residential appraisal) at a very difficult time. Turmoil, low fees, more fee pressure from the mortgage banking community (the 'banksters), up and down volume, lots of new rules & regs to be implemented, some of which have not been finalized, many of the most experienced folks being literally driven out of the business.........and more. It is very tough for new people to get a foothold. Change for the better appears to be a long, slow process, if it will happen at all.

Gotta give you credit. I recommend that you think carefully about that accounting gig.........sounds safe, secure, reliable, etc.....whether the pay is low or not, it sounds steady. Lots of places to go with accounting experience. I can't say the same about appraisal, even for experienced, 'advanced' appraisers in many cases.
Look into commercial appraisal.

In any case, good luck!!

 

[Mike Kennedy]

Welcome to AF Sean. Given your Accounting experience - suggest investigating Business Valuation http://www.appraisers.org/BVhome/aboutbv.aspx

 

[Seano13]

Jim - I would agree it is a tough time for the profession, but what professional isn't struggling? Besides healthcare? I thought of done a decent amount of due diligence on the state of appraising and I see a profession that is changing or correcting itself? I think the regulations that are being implemented in 2015 are geared towards bringing people with my background into the industry? And I'm sure a lot of advanced and experienced appraisers have been driven away by these initiatives. I know the volume is up and down but that is for everything and I have 2 years of training before things hopefully get back on track. As far as accounting goes, yes it's steady, but not comfortable and very stressful working for large Corp like dealing with banks but at least I can make my own decisions. The money is great but it's not about that, it's about satisfaction. I do not see myself as accountant I see myself as an appraiser. Sure I like accounting, but I would rather supplement it with appraising for all the reason you like what you do.

Mike - I have looked into business valuations and yes I can do that, but that easy to get into either. Wouldnt having an appraiser's license be more attractive to a business Val employer?

 

[J Grant]

Look on the Appraisal Institute website, they have job openings there, some for trainees, as well as jobs board below on this site.

I would think an accounting degree would be very attractive to a cert general appraiser looking to train someone.

I would recomend taking as many appraisal courses as possible, preferably AI courses, so when you interview you have at least some course work under your belt.

I actually think it is a good time to get into appraising, as so many are discouraged. The worst is behind us, imo. Makes more sense to go for the cert gen (commercial license) , if you can, which still allows you to do residential. There is still plenty of money to be made in residential and someone who goes for an SRA, and or has a background like yours that lends itself to statistical analysis shoud do well.

can you relocate for the right job? That would help open up opportunities. You have to reach out and knock on a lot of doors but one will open.

 

[Meandering]

Sean,

Welcome to the AF.

The Metro chapter of the Appraisal Institute should be able to help you. Check them out and go to some of their meetings. You are lucky in that their chapter is very education intensive, many of their classes are in New Brunswick at Rutgers.

Also look into the American Guild of Appraisers (AGA) in Jersey. They are very active and you might find a mentor among them.

Good luck, take AI classes, buy and read AI books and make industry contacts by going to meetings and taking classes. It's not impossible to find a mentor but it can be very hard.

Welcome to the forum.


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