Part time job?

[rescom]

I charge a minimum of $300 for full appraisals. So I can make as much in 3 hours as I would part time teaching 4 days.

Oh boy. The 3 hour appraisal. Quality in its highest form.

Thats why fees are dropping. Because they know that there are "appraisers" out there doing work like this. They are doing the same math. They are asking themselves, if an appraiser can complete an appraisal in three hours, then why should they get $100 per hour? Lets cut that in half. And there you have it.

When appraisers are able to do appraisals in 1.5 hours, then they will decrease even more.

 

[Deleted member 77547]

Oh boy. The 3 hour appraisal. Quality in its highest form.
QUOTE]

No doubt.

 

[Doug in NC]

I think I could complete a report in under 3 hours if the property were a 1,200 sf ranch next door to my house, someone else did all the research for me, wrote up the report for me, helped me measure the property, and took care of report delivery/transmission. Now if I had to do everything myself, 3 hour completion would not be very likely under any circumstances. I'm not saying it would not be possible, but it has got to be very difficult to churn out a quality report in under 3 hours in the best of circumstances.

Maybe Mark has a PDA that he uses to form fill in the field. Not having to reproduce form entries and sketch back at the office would save some time, but it still takes time to travel to and from the property, inspect/measure it, take comp pics, reason through the valuation process, find good sales, and verify the information. Mark didn't clarify whether or not he has assistance in completing these reports. Use of significant assistance and/or use of the latest technologies are the only ways URAR appraisals could consistently be competently completed in under 3 hours IMO.

 

[Steve Metz]

I complete most reports in less than 3 hours. I have realy automated my work flow. A minute here and a minute there adds up. It took a while to find what tech works and what does not. I did a lot of set up time with templates for each client and county.

I also have most sales in the counties I serve in my data base. I get a sales report every two weeks from the 10 counties I work and all sale info is entered. When I am out in the field I take comp photos. I work in a rural area and most of these counties only have 70-80 sales a year. There is no MLS in the areaso I have about 800 properties a year in the data base in ACI. Works out to 65 sales a month I have entered. I have an assistant do the data entry she works one day a week.

 

[rescom]

I complete most reports in less than 3 hours.

So if you can do a report in less than 3 hours, that means that you can do 3 reports per day (8 hour day). At $350 per report, that comes out to $1050 per day, 250 working days per year, equal $250,000 per year! Comment please.

 

[hettiem]

3 hour report

I am not trying to pick on anyone that can actually complete a report in 3 hours, the point was originally that most people can not produce a fully analyzed quality report in that amount of time. And for people to make a blanket statement that appraisers should be able to make a $100 an hour is ridiculous at best. Having a good system, time management, and technology can make a difference, but I do not believe that the 3 hour appraisal should or is the norm for most appraisers.

 

[PLCG]

So if you can do a report in less than 3 hours, that means that you can do 3 reports per day (8 hour day). At $350 per report, that comes out to $1050 per day, 250 working days per year, equal $250,000 per year! Comment please.

That assumes he gets the appraisals on all the sales. Good marketing

 

[hettiem]

That also assumes the volume is there for 15 reports a week, all reports are paid at $350, and 100% collection rate. Not likely-especially in this market.

 

[AnonApprsr]

I have a second job: I write advertisements that appear in newspapers for several categories like automotive, pharmacy, pet&vet etc.