The End of *most* Full Time Appraiser's ?

[RCA]

(continued)

Conclusion​

In most cases, an MFE degree holder is unlikely to earn more by obtaining an appraiser’s license. The earning potential of MFE-related roles ($108,000–$260,000 starting, with significant growth) far exceeds that of appraisers ($61,340–$65,420 median, with limited upside unless running a successful business). The time and opportunity cost of pursuing an appraiser’s license outweigh potential benefits, given the MFE’s versatility and high demand in finance and technology industries. Synergies exist in niche areas like real estate investment analysis, but these roles typically prioritize MFE skills and offer salaries comparable to or lower than traditional MFE careers.

Recommendation​

• Focus on MFE Career: Maximize earnings by advancing in high-paying MFE roles (e.g., quantitative analyst, risk manager) or exploring transferable opportunities in fintech or technology, where salaries and bonuses are substantial.
• Consider Appraiser’s License Only If: You have a strong personal interest in real estate, plan to pivot into a real estate-focused career, or intend to start a business leveraging both skill sets. Even then, carefully weigh the opportunity cost and market conditions.
• Alternative Enhancements: Instead of an appraiser’s license, consider certifications like CFA (Chartered Financial Analyst) or FRM (Financial Risk Manager), which align better with MFE skills and boost earning potential in finance." (per SuperGrok)

====

So, what I am talking about is a new profession, that is yet unproven. One where you have both the skills of a financial engineer and those of an appraiser. The work would have to be created by pounding the pavement and looking for business with Attorneys, large real estate organizations and perhaps large Appraisal Companies. You would likely have to run your own business. In lieu of an MFE, yes you could just get a CFA - or simply show you have the skill set in addition to the Appraiser's License. Note: Getting a CFA is not easy, and it is not free. But, I know some good programmers who have CFAs.

 

[glenn walker]

So what are you doing here ?

 

[RCA]

... I've not been able to wrap my head around advancing beyond that as my data sets are so dissimilar and my sample sizes are too small.

I have plenty of MLS data in California, about 6M records -- and now I plan on taking in more. And it is pretty good quality. That is California. I am reluctant to talk about other states - they all have their problems. (and I am moving from SQL Server to PostgreSQL now).

I certainly can't give you advice, at best just make suggestions.

Above all, I am too busy with my own tasks to do much on this forum.

 

[Tom4value]

Here are my thoughts. Didn’t go through all 152 posts so if I am repeating someone else, my apologies.

I have been doing this dog and pony show for 35 years. For 34 years, 10 months, I have been told I would be obsolete in 6 months. That being said, I will break it down to short term and long term. These comments are for lender work. Opinions I have seen here on non-lender work are all valid.

Short term, we will have work. Again, for my 35 years I have seen the diminumus increase, no substantial decrease in volume. The fact is, most buyers know what they don’t know about the market and feel that a $450 appraisal fee is money well spent to keep from overpaying and will not opt out of the appraisal. Even with the advent of Zillow and other websites, buyers use it for beginning the process but once their money is really on the table, they want a professional to be certain.

Long term, a different story thanks to AI. Right now, Zillow and others are just a statistical program and are hindered by, “garbage in, garbage out”. They are accurate in many parts of the country that have tract sub-divisions with lots of sales data. However, the rest of the country has housing markets that are too complex for a statistical program and require actual analytical skills. Eventually, AI will be able to do that.

In my real estate appraisal journey, I am nearing my home neighborhood and hopefully, AI won’t catch up with me until I am pulling into my garage!

 

[glenn walker]

The beauty is appraisers have been given a good 10 year head start to prepare for potential large changes going forward.

There are some industry's where folks got very short notice their job was becoming obsolete.

There will always be appraisers working the question becomes how many and
is it any longer a good way to make a good living.

Your bank account and wallet will tell you when the effort's are no longer worth doing.

 

[djd09]

is there a dislike button...

 

[Tom D]

is there a dislike button...

Yes there is, but fannie doesn't look at the dislikes by appraisers. All appraisers are equal, but fannie is more equal.

 

[Mark K]

I put myself in the B camp...

It doesn't really matter where you put yourself. What matters is where would others put you.

Some would put me into any of the A, B, or C. Personally I put myself into the IDGAF category.

 

[TC]

It doesn't really matter where you put yourself. What matters is where would others put you.

Some would put me into any of the A, B, or C. Personally I put myself into the IDGAF category.

You're not alone.

 

[ZZGAMAZZ]

The commercial guys in my area mostly don't make good money anymore.That got extremely competitive and fees are lower than 25 years ago. What we paid in 1990 a $3,000 fee-- we can get a CG all day long for $1,000 to $1,500 bucks.

Commercial maybe in a specialized field but not for a independent fee guy in our community.

Real Estate agent who remembered me from several years ago needed an appraiser for re-fi in Coachella. My research revealed that the property being refi'd was like 20 acres with 500 date trees, with dates sold commercially. I called about 15 AG's with addresses in the Coachella Valley, from the BREA website, none of whom were available to even discuss an assignment. Ingteresting IMO that the office managers for half of the AG's described pending retirement.