Staff Appraisers

[Ramon A. Olivarez]

One company just sent me mail, do I want to become a staff appraiser for them. Split fee arrangement, medical, other bennies.

Has anyone else received this solicitation.

 

[Mztk1]

I was offered a staff job too. 30% of total if you do less than 8 a week, 35% for between 8 and 12, 40% for 13 to 15, 45% for 16 to 20 and 50% split for 21+ with those who can average 26 or more a week getting a 55% split.

This is from a large company that requires 2 listings on each report and a detailed market analysis.

The benefits are your continuing education paid for, the MLS paid for, health care and $500 allowance for car.

I did the math. Now I know what it takes to do 25 or 30 reports a week, but it is something entirely different and super human to average 20 to 25 reports a week for a month. Full time when taking the hour or two necessary to do market conditions, is between 8 and 12 a week. So a 40 hr work week will pay 35% of 350 X 10, or $1,225, which is $63,700 a year. The benefits package amounts to about $13,500 a year so the total package is $77,200 but you lose your ability to write off your taxes, etc.

I find the offer is best for secondary income earners, newer appraisers and retirees. If I am making $350 an appraisal their package is surpassed by the time I've completed 221 assignments in any given year. If it takes me 6 hours to complete one appraisal, that is 33 weeks of work, or just over 1/2 a year's pay I am making for busting my butt for the year as a staff guy.

Best case scenario, so you average 28 a week for 52 weeks, that is $280,280 plus the $13,500 in benefits. But if you did that on your own you'd be making over $500,000 a year.

 

[TEL2002]

Do they ask you to appraise all over the county or counties, or would you have a small area with lots of appraisals to be done in that small area? If it's a small area I think doing a bunch of appraisals in a week is doable. If you gotta cover the entire county...I doubt you would be into the high numbers.

 

[josephdifranco]

Medical insurance, ppo, costs about $1,500 at the small firm I am at. See if its a ppo by a major provider, if so, its definitely worth a lot.

The idea of a single appraiser doing 25 SFR's per week is ridiculous. Back in the day, with an assistant, and overtime, I could barely reach that number.

Also, I don't agree with the fee increases based on higher production. An appraiser could put in extra time doing a good job and get penalized, while a quicker, sloppier appraiser is rewarded.

Because the production goals are so high, and the market is so slow, you should evaluate the opportunity at the lower figures.

 

[Alison Swain]

The idea of a single appraiser doing 25 SFR's per week is ridiculous. Back in the day, with an assistant, and overtime, I could barely reach that number.

Also, I don't agree with the fee increases based on higher production. An appraiser could put in extra time doing a good job and get penalized, while a quicker, sloppier appraiser is rewarded.

Because the production goals are so high, and the market is so slow, you should evaluate the opportunity at the lower figures.

I agree. The plan that Jim outlines sounds suspiciously like B of A. I do know that some of the assignments are not full appraisals at all, but often just glorified comp checks for some of their home-owning account holders.

 

[Mike Boyd]

It would also depend on if you have staff support. Back "in the day" I averaged 20 per week and did as many as 30. BUT....I had a full time staff member that did everything but the inspection and market analysis. That was before licensing, before windows, before USPAP.

If they are drivebys only and you have full staff support, and if you are sufficiently self motivated you can do it. BUT.....be prepared for a really full time job with few breaks and no time off to take in a ball game or go fishing.

 

[chicago guy]

It depends what you are looking for. I was a staff appraiser for bank. Did 15-20 a week in urban area (seldom more than 20 minutes from home office) for about the kind of money talked about earlier. You can get more reports done when all you have to do is the inspections and report without accounting, soliciting work, dealing with LO's, etc. For me it was steady, relatively stress free work. Ceiling not as high, but we were able to keep a couple clients on the side (5-10 reports a month) to make up some of the lost income.

 

[Blue1]

I was offered a 'staff' position...about 15 or 20 appraisals a month required, Health, Insurance, 401K etc. Work from your office and you can have your own clients as well. They give you a $2,500 draw per month. Am thinking about it.

 

[chad hampton]

i doubt they pay for your health insurance. they may offer an insurance plan, but I'm sure they take a nice chunk out of your paycheck to pay for it. you an probably buy it on your own for about the same price.

if you can survive on your own, then it almost never pays to take a staff job. but if you've gone 3 months w/o an order, then a staff job looks appealing. at least for a yr or 2 waiting for the market to turn.

 

[Alison Swain]

I was offered a 'staff' position...about 15 or 20 appraisals a month required, Health, Insurance, 401K etc. Work from your office and you can have your own clients as well. They give you a $2,500 draw per month. Am thinking about it.

Now THAT is a sweet deal! :new_multi: