Hello Appraisers,
Here is my situation: I have met all the educational requirements in CA to be an appraiser (trainee). I submitted my application to the OREA in mid-Feb. There is a 90 day period to sit for the state test. Approaching two months now. In the interim I have contacted over 50 Appraisers / AMC's throughout Southern California for runner / trainee work(OREA allows 400 hours before being licensed). I've been speaking to a guy over the past month who runs an AMC (been in business over 20 years) and has a staff of 10 appraisers only in So Cal. After speaking with him, he concluded that since I had a college degree, knew the industry lingo, and was somewhat knowledgeable about appraising terminology, techniques, market trends, etc. he'll give me a shot. He is offering a 40% split for my work @ $350 per appraisal. He told me to be able to complete 2-3 reports per work. Is this accurate info? Some of his guys are doing a minimum of 3 a day, and even up to 5 in some instances. Is this doable? He says his company completes about 300 appraisals per month in Southern California. Is this possible? He must have a really high volume of work (Approved lender list of over 200!), some of which he tells me he must turn away. Should I pursue this? How much training can I really receive if the appraisers are busy completing their own work, and have to take time out to help a new guy learn the ropes? I will begin doing ride alongs in 10 days.
Here is my situation: I have met all the educational requirements in CA to be an appraiser (trainee). I submitted my application to the OREA in mid-Feb. There is a 90 day period to sit for the state test. Approaching two months now. In the interim I have contacted over 50 Appraisers / AMC's throughout Southern California for runner / trainee work(OREA allows 400 hours before being licensed). I've been speaking to a guy over the past month who runs an AMC (been in business over 20 years) and has a staff of 10 appraisers only in So Cal. After speaking with him, he concluded that since I had a college degree, knew the industry lingo, and was somewhat knowledgeable about appraising terminology, techniques, market trends, etc. he'll give me a shot. He is offering a 40% split for my work @ $350 per appraisal. He told me to be able to complete 2-3 reports per work. Is this accurate info? Some of his guys are doing a minimum of 3 a day, and even up to 5 in some instances. Is this doable? He says his company completes about 300 appraisals per month in Southern California. Is this possible? He must have a really high volume of work (Approved lender list of over 200!), some of which he tells me he must turn away. Should I pursue this? How much training can I really receive if the appraisers are busy completing their own work, and have to take time out to help a new guy learn the ropes? I will begin doing ride alongs in 10 days.