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Not sure where to go from here.

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suitcase

Thread Starter
Freshman Member
Joined
Nov 6, 2008
Professional Status
Appraiser Trainee
State
Texas
I am a trainee and thought that everything was set. I was doing research for commercial real estate and getting paid for it. I really loved my job, however I was laid off yesterday because we simply don't have any more work to do. I have no where near the amount of commercial experience that I need (I have 6 months) to be certified and I have never even attempted residential. I have completed or assisted in approximately 20 narrative reports. I have a bachelor's degree in Real Estate and Appraisal work is what I want to do. The thing is, now that I am unemployed I'm not really sure what the next step is. I want to continue to work in the appraisal industry but my head is spinning. I need advice. Please tell me the normal trainee process. And please no sarcastic remarks about how I should take business from AMC and ruin the life's of established appraisers. Reading those posts is getting kind of old. I am legit and want to seriously make this my career. I am just at a point that I hoped I wouldn't be. I need to know what to do now. Thanks in advance.
 

BRCJR

Elite Member
Gold Supporting Member
Joined
Sep 20, 2005
Professional Status
Licensed Appraiser
State
Virginia
There will be no right or wrong answers to your question(s).

It is very slow out there. I work for a lender and the LO's indicate it is as slow as they can remember (some 25-30 years).

Commercial is now soft, not bottomed out, but soft. It will take investors coming off the sideline and returning to the playing field.

Your answer lies in your location and the number of commercial appraisers.

You will have to keep on knocking on doors, and keep on keeping on.
On a side note, if you continue on this path, you will have sacrificed and worked for your license. Therefore, you will most probably respect that piece of paper and try to do the right thing for the profession.

Hope all works out for you and yours.
 

The Warrior Monk

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
The simple answer is...find another appraisal firm.

There is plenty of appraisal work out there that falls under the scope of general practice of a GC. Naturally, the portion related to lending has softened, or disappeared, but there are commercial firms that either don't do lending work, or are diversified enough so that it nominally affects there business.

Getting a new job will be difficult, but then again it has never been that easy for commercial appraisers to get into the business. Qualifications and education will count, especially if working for a specialty firm.

Good luck!
 

Walter Kirk

Senior Member
Joined
Jun 24, 2003
Professional Status
Licensed Appraiser
State
New Jersey
You could offer to do work for your former employer on a contract or as needed basis. You should also check with the state to determine if work submitted for certification can be demonstration reports. If so you can use some of the down time to do demo reports. This may develop contacts for you in the real estate and appraisal communities which will help you land your next job.
 

Ken B

Elite Member
Joined
Feb 18, 2004
Professional Status
Certified General Appraiser
State
Florida
If you want to keep your iron in the fire, you might seek something in commercial sales until such time you find another commercial appraiser who will take you on. The MAI I work with took on a trainee who had worked for a commercial brokerage for a year or so before he became a trainee. He is doing very well for himself right now.
 

Greenback

Senior Member
Joined
Apr 20, 2007
Professional Status
Appraiser Trainee
State
Louisiana
...The thing is, now that I am unemployed I'm not really sure what the next step is. I want to continue to work in the appraisal industry but my head is spinning. I need advice. Please tell me the normal trainee process.

There isn't anything normal about the trainee process - lol.

Its truly a long road, and the best way to complete the journey is by walking it.

If a person became a Trainee for all the right reasons and survive this environment as that kind of Trainee, all the way to being certified, then I think that person did something cool. If Trainees who actually give a damn quit, then that's not good for the profession.

If the Trainee Process was actually normal or ideal, then experience would trump the slinky in the certification process. Working on experience rather than how many can be completed in a certain amount of time would be ideal or normal.

My next step, if I were you, would be to gain more experience, some way/ some how - in any form, and be optimistic; if you throw away the word, "quit", as though it doesn't exist, and work hard on experience as being number one, then survival gets easier from an emotional perspective, in my eyes.

Good luck :)

Sincerely,
 

leasedfee

Member
Joined
Oct 14, 2007
Professional Status
Certified General Appraiser
State
Colorado
Suitcase,

While you are looking for work also consider related fields that would enhance your understanding of how commercial real estate works.
  • brokerage and leasing
  • analyst for commercial brokerage firms
  • construction
  • planning/zoning; law
  • ad valorem assessment
  • banking/finance
  • financial analysis of any type
  • government / Census
  • property management
  • specialty niches or companies in R/E
  • even general business or business journalism
Meanwhile stay up to date with the appraisal loop, e.g., take classes; read real estate books; related magazine and journal articles. Don't be shy about communicating this to your future employer.

On your resume or in an interview you can demonstrate and explain how this gave you a better understanding of real estate, analysis, and valuation. Some of the very best commercial appraisers I've encountered are ones who can look at real estate from a different and broader perspective. As an entry level person, you might be in a fortunate position that you can have great career flexibility.
 
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