Should I become an appaiser? ?

[Cesar_Evo9]

oKay so I have been thinking of investing in a appraisal course and am looking at about 1100 in total. I talked to an appaiser that seemed to really love his job and was making good money while doing it. I have the cash to pay for the course and really want to but now I am starting to see that it's hard to be successful in this type of work at least it sounds like it.

I want to ask how hard is it to get the 2000 hrs of training??

What can I expect to make as an appaiser? ? I am currently making 28000 a year is it worth switching???

I have my BA from a 4 year university and I am from CA.

I just want some advice on what I should expect and if I should take the jump. I know in the end it is my decision but I was some help

Thanks in advance!!

 

[Randolph Kinney]

I want to ask how hard is it to get the 2000 hrs of training??

You will have to find a certified appraiser to train you. If you don't have that, you are wasting money.

If you don't have clients to give you appraisal orders, then you will have to be hired by an appraisal company that will give you work and the training. Don't expect a livable income while you are being trained.

2000 hours will get you licensed as a residential appraiser. You will need to be at least a certified residential appraiser in order to succeed. There is practically no demand for just a licensed residential appraiser for lending work. Check out the requirements for a license at the certified residential level.

Your income from appraising as a trainee won't match working at Wal-Mart, who is now going to pay $9/hr and then $10/hr next year.

 

[JTip]

I am currently making 280 a year is it worth switching???

I make that in one report and have money left over for a nice dinner out with the wife.

 

[miktay]

What can I expect to make as an appaiser? ? I am currently making 280 a year is it worth switching???/QUOTE]

You're making $280 a year, or $280,000 a year? If it's the second one, you may want to stay right where you are.

 

[Dan Umstead]

You currently make $280,000 a year.................................forget about appraising.

 

[miktay]

Is this a real thread, or are you playing with us?

 

[panappr]

You are currently making a lot more money than my doctor at Kaiser......

 

[Terrel L. Shields]

If you netted 280K in FOUR years, you'd be outperforming 90% of appraisers I suspect.

 

[Cesar_Evo9]

Sorry I fixed my income I meant to put 28000 but it's a job that has pretty much no Opp for growth and it's graveyard. I just want to see if it's worth switching over and investing. As a trainee you make 33% of a job correct? The guy I was talking to was making about 9k a month is he just a rare occasion?

 

[erockinaz]

What can I expect to make as an appaiser? ? I am currently making 28000 a year is it worth switching???

I suspect you edited your current income to a more reasonable $28,000 a year. First of all, appraising is much different than it was 5 years ago, so many older appraisers feel like it is not worth getting into. There is some merit to that, because many of the changes have been negative. The rise in AMCs has helped to limit fees while driving up stipulations and time spent on each appraisal.

I was out of appraisal from 2010 to May of 2014 while recovering from an accident and at times I wasnt sure if it worth the effort to obtain my Certification. Nine months later, it was worth it. I will never make the money I used to make, but still make a good living, ranging from $6500 to $10,000 each month since September, averaging about $8000 per month. It took a few months to start getting work, so I didnt make much before September.

As a trainee, you will need to find a Supervising Appraiser to work with. Your state should have a directory of appraisers who can supervise trainees. Trainee pay varies wildly, so interview with several to find a good fit and decent pay. There are fewer and fewer appraisers willing to train newbies, so you need to sell yourself. The fact you already have a degree and can afford to start taking appraisal classes right away are plusses. Even as a trainee, I suspect you will easily be able to make more than $28,000 a year. It is an investment in effort and time, so make sure you are well suited for the profession. Perhaps find an appraiser near you that you can spend a week with, just to experience everything they go through.

If you are lucky enough to find a quality supervising appraiser, you will get an opportunity to do lots of different kinds of work, and see how different types of apprasials are performed with different assignment conditions. While lending is the driving force behind appraisal, there are lots of other opportunities if you know where to look. I would also look beyond just residential and work towards getting your Cert. General, that is my current goal for myself.

Good luck to you. Feel free to ask questions. These boards are a good source of info. The job isnt easy, but nothing worthwhile is. If you work hard, don't undervalue yourself, and seek to constantly improve, you will find that appraisal is still a good profession.

Eric