Bob Ipock
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
There have been several comments lately from people either wanting to take classes, taking classes now or finished with their classes. The common thread is usually they can't find a supervisor. Nobody is worried about you being a competitor....especially is you are hundreds or even thousands of miles apart. Even if you were in the same town it would be years before you could hurt e appraiser. We are not concerned about you being competition. This crap about not wanting to "give back to the profession". is offensive and wrong. Many of the folks on the forum give back freely.
There are far more reasons established appraisers will not take on a trainee than their are valid reasons to hire one. Believe me, if you are being trained right you will be costing your supervisor money for at least a year (probably more). The trainee slows everything down everything for a long time. It takes time to learn software, how to access public records, MLS etc. You will be constantly asking questions that eats up the supervisor's time. It will be a good long time until you could inspect a property without the supervisor. He or she is going to sign their name saying they inspected...and they damn well better. They will have to go WITH them in order to get your training hours.
Understand the split. Likely the MOST you would ever get would be 70/30.....and that would be way down the road. Let's say you get 50/50 On a $400 fee that would be $200. You would be lucky to get 4-5 in a weekly...in these times less. Some appraisers don't pay a split (I don't) but an hourly wage. I am not going to have a split until someone can do the entire appraisal without help. Where I am located a trainee must pay full dues for MLS access which is about $900.00 per year. At some point you will be responsible for paying for your own software. Don't forget the car expenses and I am talking tires, brakes, oil changes...because likely you will be racking up some miles.
If we could shake you...it would have been BEFORE you paid out for your classes and tell you to research the business in detail so you would know what you are getting in to. You can easily do some research and see that the number of appraisers is falling. The biggest pat of those people don't renew due to a lack of work. I know appraisers in there 70's and 80's who still have a license they may use on a limited basis.
I spoke with 4 appraiser buddies today, all in business 20+ years. All four said they were dead...no orders. It happens.....too frequently. None of the borrowers that bought at interest rates under 4%.....are not going to be refinancing at rates over 4%. Many appraisers depend of refinances for a bunch of their business.....I am in that column Fewer appraisals are being ordered, fees are stagnant at best. If you have a college degree of some technical skill.....there are plenty of other/better ways to make a living.
Don't come on here (or when speaking to an appraiser, sending out emails or making phone calls) and try to convince somebody that you know everything about the appraisal business....there is so much you need to know that can only be learned from a practicing appraiser. The fact that you did not find a supervisor or research the appraisal business before is evidence of what you did not know. New business is hard to get...it can be done .....but it is difficult. If you are going to get a new client it mean that someone is losing that client. There are many of us that have FIRED clients due to them being hard to deal with, low fees, dishonesty on their part etc.
I could go on....and hope some other appraisers on here might add some comments. It is not that we don't want to help you.....but we need to be honest with you. I hope you will be one of the 25% of trainees that are ever able to find a supervisor.
If this sounds harsh or discouraging that is only because it is the truth. Again, do not spend money on appraisal classes until you research the business and talk to 10 appraisers in your area to see if they need a trainee, already have a trainee of don't have enough work or the desire to take on a trainee.
Good luck. Remember we actually make our on luck.
There are far more reasons established appraisers will not take on a trainee than their are valid reasons to hire one. Believe me, if you are being trained right you will be costing your supervisor money for at least a year (probably more). The trainee slows everything down everything for a long time. It takes time to learn software, how to access public records, MLS etc. You will be constantly asking questions that eats up the supervisor's time. It will be a good long time until you could inspect a property without the supervisor. He or she is going to sign their name saying they inspected...and they damn well better. They will have to go WITH them in order to get your training hours.
Understand the split. Likely the MOST you would ever get would be 70/30.....and that would be way down the road. Let's say you get 50/50 On a $400 fee that would be $200. You would be lucky to get 4-5 in a weekly...in these times less. Some appraisers don't pay a split (I don't) but an hourly wage. I am not going to have a split until someone can do the entire appraisal without help. Where I am located a trainee must pay full dues for MLS access which is about $900.00 per year. At some point you will be responsible for paying for your own software. Don't forget the car expenses and I am talking tires, brakes, oil changes...because likely you will be racking up some miles.
If we could shake you...it would have been BEFORE you paid out for your classes and tell you to research the business in detail so you would know what you are getting in to. You can easily do some research and see that the number of appraisers is falling. The biggest pat of those people don't renew due to a lack of work. I know appraisers in there 70's and 80's who still have a license they may use on a limited basis.
I spoke with 4 appraiser buddies today, all in business 20+ years. All four said they were dead...no orders. It happens.....too frequently. None of the borrowers that bought at interest rates under 4%.....are not going to be refinancing at rates over 4%. Many appraisers depend of refinances for a bunch of their business.....I am in that column Fewer appraisals are being ordered, fees are stagnant at best. If you have a college degree of some technical skill.....there are plenty of other/better ways to make a living.
Don't come on here (or when speaking to an appraiser, sending out emails or making phone calls) and try to convince somebody that you know everything about the appraisal business....there is so much you need to know that can only be learned from a practicing appraiser. The fact that you did not find a supervisor or research the appraisal business before is evidence of what you did not know. New business is hard to get...it can be done .....but it is difficult. If you are going to get a new client it mean that someone is losing that client. There are many of us that have FIRED clients due to them being hard to deal with, low fees, dishonesty on their part etc.
I could go on....and hope some other appraisers on here might add some comments. It is not that we don't want to help you.....but we need to be honest with you. I hope you will be one of the 25% of trainees that are ever able to find a supervisor.
If this sounds harsh or discouraging that is only because it is the truth. Again, do not spend money on appraisal classes until you research the business and talk to 10 appraisers in your area to see if they need a trainee, already have a trainee of don't have enough work or the desire to take on a trainee.
Good luck. Remember we actually make our on luck.
Over 30 years and 3 fee shops later I must have trained 20 or so from scratch... but back then it didn't take 2 years or 2000 hours to properly train someone.. the smart ones new what they were doing in a couple of months...
