straight to commercial?

[icosane]

Hey, I'm a college grad (BS economics) and am seriously considering appraisal as a career. Seems as though the general consensus here is if you are trying to enter the business you should aim for commercial. From what I read I think this is the area of appraisal I would be most interested in anyway, as it seems more based in economics and mathematical analysis than residential (in no way a jab at residential & please correct me if I'm wrong). I posted in someone else's thread on the commercial board and got some decent advice but I am still looking for more. Does anyone have any advice for how to go about getting into commercial appraisal? If simply contacted MAI's in the area doesn't work out what should the next plan of action be? Is there a job not specifically in appraising where I could pick up some skills that would make me an asset to a commercial appraiser? Final question... if I can not find a mentor/job should I continue on with the appraisal education? Will I at 200 some hours of appraisal education be more of an asset to a commercial appraiser or is it really the experience that counts?

I know that was a lot... thanks in advance to everyone that replies! -Greg

 

[lauralee]

Since no one has answered you yet, I'll go first.

If simply contacted MAI's in the area doesn't work out what should the next plan of action be?

Don't forget that there are plenty of highly skilled general appraisers outside of those that hold an MAI. Contact them. See ASC.gov to put together a list of those in your area.

Is there a job not specifically in appraising where I could pick up some skills that would make me an asset to a commercial appraiser?

I'm not too sure about this but it seems to me that experience in commercial sales or lending would be useful, and perhaps not as hard to get.

Final question... if I can not find a mentor/job should I continue on with the appraisal education?

Well... if you're positive that this is something that you want to do, go for it. The classes are expensive, but not so much compared to what a semester or two of college costs. If you can manage to pay for them without too much trouble, why not. It will make you A LOT more attractive to a mentor. Just be aware that right now you might not be able to break into the field. I've been following the economic news carefully, and it scares the hell out of me. If we get through the end of the year without any major fallout, we'll be lucky. I work for a government agency as an appraiser trainee, and would love to transfer to the private sector. I have had a few attractive job offers, but I'm waiting till the end of year to act on them. So best of luck whatever you decide.

 

[Michigan CG]

Well... if you're positive that this is something that you want to do, go for it. The classes are expensive, but not so much compared to what a semester or two of college costs. If you can manage to pay for them without too much trouble, why not. It will make you A LOT more attractive to a mentor.

I strongly believe that they need to be Appraisal Institute classes.

 

[Lawrence R.]

Many roads lead to the mountain.

AI classes are good, but there are others that can rival their quality.

In SC, there is a one man band that teaches commercial, and he rocks.

He used to be general counsel for the Citadel, then turned appraiser in his youth, and used to teach at the Citadel as well.

There is probably somebody like him in your state as well...but if you can't find him, AI is the way to go...it does carry more weight in our profession.

good luck, I am taking the 3 step route to CG. Licensed, CR and then CG. Just finished my log to turn in for CR, and headed for CG next.

I work mostly in the municipal world though. But plenty of residential under my belt at this point....just took on my first commercial assignment today...Me and my old mentor, (CG) will be collaborating on this one.

Medium sized office building in a nice part of town. Should be fun.

Take care!!

 

[lauralee]

I strongly believe that they need to be Appraisal Institute classes.

Sorry, that's what I mean; I was thinking about AI classes when I wrote that. I don't know if I would bother with any other.

 

[Jim Mallon]

In my experience, most non-AI classes are like diploma mills.

 

[Thern Newbell]

I'm sure that there are good proprietary schools out there, like the one spoken of in a prior post. AI carries a lot of weight though, and is recognized everywhere.

 

[Greenback]

I've read different type of books from different organizations. Classes are classes to me. But, if you want people to treat you like you're immortal no matter what you know or how much you know, take the AI courses and get their designation. That's your best bet, become a MAI Dazzle the supply of mentorship with that.

I disagree that commercial has more to do with land property economics than residential. I say they are equal, at best..

I'm quite comfortable with my diploma mill education. I'm comfortable with my 10th grade GED, too. Don't make no sense to spend throusands of dollars when a person can just simply pick up a book and read it. Unless I had fun money that I would never miss (?) Education is truly free (it's up to you), but earthly ranks (designations)that automatically say you are better no matter what, are not free.

And..,I'm very, very, comfortable, with my mentorship (the stuff I see will never be taught in any text book). Mentorship is more important than where someone may take their course. That's just my opinion, though.

you should go with what you think would be more comfortable to you when deciding between residential and commercial. Being comfortable is always best, in my eyes. But, if you become Generally Certified, and that day comes to Appraise a residential property, I suggest finding a Residential Appraiser that can provide appropriate/adequate supervision. Just a suggestion. Don't let ego overrun logic, ya know?

Sincerely,
Goodluck to you.

 

[icosane]

Since no one has answered you yet, I'll go first.

If simply contacted MAI's in the area doesn't work out what should the next plan of action be?

Don't forget that there are plenty of highly skilled general appraisers outside of those that hold an MAI. Contact them. See ASC.gov to put together a list of those in your area.

Thanks for the reply. I meant Certified General appraisers. I posted this right after looking over a list of MAI designated appraisers in the area and misspoke/typed. Good luck with your job search and training.

Is there anyway to edit posts? It seems as though I messed up the wording a bit in the above sentence.

 

[icosane]

I strongly believe that they need to be Appraisal Institute classes.

I know theres a whole separate forum for discussion on appraisal education... but I can't resist. What do you guys think of taking the online classes from the Appraisal Institute?