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Nice to meet you all...

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Lisa Alleva

Sophomore Member
Joined
Nov 10, 2002
Professional Status
Certified Residential Appraiser
State
New York
Hi All,

Let me introduce myself. My name is Lisa and I'm from New York. I got my apprentice license in August and I have about 100 appraisals under my belt, as of now. I work in the five boroughs, Nassau, Suffolk and Westchester counties. Up till now, I've handled everything from drive-bys to four-family. Tenements to beautiful estates.

I'm curious about a couple of things. I started out in this business about five years ago typing for an appraiser. I got familiar with the forms and the adjustments and what should and shouldn't be adjusted. That was the bulk of my training. I went out once with my boss. Honestly, I think they wanted me to fall flat on my face, because my first assignment was a two-family new construction in a subsidized housing section of the south bronx. (Not exactly the best area for a blonde, blue eyed, 110 pound girl driving a white eclipse!! LOL) They chuckled when they gave me the assignment and said something like "You want to be an appraiser, well here, try this..."

To make a long story short, I made the appointment as soon as I could. I got in the house and took note of everything that I had read over the last 5 years, such as the utilities not being turned on, and a few minor things that needed completion. I worked with realtors and brokers in the area and compiled all of my information into one hell of an appraisal (if I don't say so myself!! LOL), which I turned in two days later. I've been working ever since then.

What I am curious about is this. I work EVERYWHERE. I was in Staten Island last week and am going to be in Montauk this week. I don't have a "set" area. I'll do a tenement one day and a multi-million dollar property the next. Is this normal for a Newbie? Also, what is the payment schedule like for a fee appraiser. My bosses say that ALL appraisers are paid a month after the job is done. So, my last paycheck is for jobs that I completed up until the end of September. I'll be getting paid for the first two weeks in October on November 15th.

From what I remember, my old boss used to request an invoice from the appraisers at the end of the week, when he used to cut a check. I'm not naive and am pretty street smart, but I don't know enough about this business to know whether or not I'm being taken for a ride. I've always trusted my gut, and I don't like what it's telling me.

On the lighter side of things, I'm 35 and have two children. I'm currently going through a divorce, and I finally found something that I love and seem to be good at. The money is also great!!! Especially when you have an ex that likes to fool around with child support.LOL The job enables me to be home for my kids and structure my schedule as I need to.

I hope to be able to become a part of this group and take advantage of the help that is offered, and to be of help if I can be. I'm currently doing about 10 to 12 appraisals a week with a one-day turn-around time from the time of inspection.

Nice to meet you all.

Lisa A.
 

wyecoyote

Senior Member
Joined
Jan 15, 2002
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Washington
Lisa,

Working everywhere is somewhat typical. Some appraisers chose to work only in small areas. Others work entire states. I personally work 3 counties my partner works 2 counties (higher population rate). I don't know New York that well to know how far apart these areas are.

As far as the diversity in assignments. Pretty typical from my experince. Work on a small 800 SF house one day then a 3,000+ sf waterfront house the next.

The splits if your getting paid after every month not bad some places make you wait tell they get paid. So as long as your getting paid no big deal that I see. It usually takes awhile to build up any type of revenue and to get off the ground with the freedom of setting your own schedule is somewhat of a bonus.

Ryan
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Welcome to the Forum, Lisa....what are you wearing??? LOL. Watch out for Ryan...I think he is looking for a wife.

Specializing in a few areas has major advantages you get to know the territory (called geographic competency). Just stay out of Oyster Bay!
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
10 to 12 a week with one day turn time? I think I love you...come to Colorado right now!.

Seriously, that is way too much for a new appraiser..you will burn yourself out in less than 3 years.
 

Bill_FL

Senior Member
Joined
Aug 23, 2002
Professional Status
Certified General Appraiser
State
Florida
Welcome to the field Lisa. I think your early exposure to the business by typing appraisals will be invaluable. But I think you can answer your own question about volume. How many did the people you were typing for do?

As far as pay schedule goes, everyone is different. Some make you wait til they are paid. Others pay each week. Personally, I prefer the latter. Other appraisers asked me why I paid that way and I always told them, When a contractor hires a sub to frame the house, does the sub get paid when the house sells?

Good luck. Stay intouch with this forum. There is an incredible knowledge base with these people.

Anyone know how to set up a poll here? I would love to see one that tallied the collective years of experience in this group.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
If you are making money under the current fee split, then don't fret the delay unless it starts to creep longer and longer. That would be an indication of a cash flow problem with the boss. Bosses need to be upfront if such does occur. I average over 30 days from appraisal to payment from the client, usually pay help within 10 days after that. My subs keep a list of their appraisals and we check those off as paid. Year's end for tax purposes, I usually pay up a lot of the appraisals that I have not been paid for. If a client dead beats me, I generally pay the bill anyway in about 90 days.

I work a rural area that is about 1600 Sq. Miles. Yesterday I went to the very edge of that area to the SW, the day before I went within 1 mi. of the furtherest East I have ever been in this business. Easily 80 mi. from one to the other, but both were my speciality - poultry farms.
 
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