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Thinking of getting out

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milehigh

Thread Starter
Freshman Member
Joined
Mar 13, 2008
Professional Status
Licensed Appraiser
State
Colorado
I'm fed up. I have been appraising for over 15 years but I think I have had enough. The pressure from lenders and agents was bad enough when the market was strong. Now it has become unbearable. With declining markets and properties in poor condition the pressure has become worse. In my area 90% of the neighborhoods have declining markets. Every report I do in a declining area ends up with pressure coming from lenders, agents and buyers to change it. I am trying to do my job in a professional manner and protect the buyers and lenders, but they don't seen to care. I end up being accused of everything from incompetance to discrimination. Many properties and in foreclosure and many of those are in fair to poor condition. Again, every report I do with less than average condition ends up with a fight, pressure and stress.

Not only are we getting stress from the lenders but the board of real estate in my area is on a witch hunt. Appraisers are taking the brunt of the blame for the mortgage mess. Even honest appraisers that did the best job they could are being accused of incompetance.

Maybe I am being a wimp but I think I have had enough and just wanted to vent. I think I may leave the business.
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
What took you so long? :)

I stepped away from appraising nearly 3 years ago because I saw what was coming down the chutes (Colorado was one of the first states to start tanking) and refused to discount my fees to compete with sweatshop trainees for work.

It was a business decision. I decided that this wasn't the best business for me to be in and as it turns out problems within the industry got worse than my worst predictions and I made the best choice for ME.

Every appraiser out there will have to make decide for themselves, but I would suggest that if you're miserable now, and especially if you're not making enough money to stay on top of things, then seriously consider doing something else for a while. You can always keep your license current and see how the industry shakes out over the next year or two.

Best of luck in whatever your choice is!
 

Joe Booth

Junior Member
Joined
Oct 16, 2003
Professional Status
Certified Residential Appraiser
State
California
I've fired all mortgage brokers. I only work with a couple of AMCs. Most of my business is REO. It has been for the last two years. The Asset Managers want the down and dirty truth. We love that!!!!

Good luck. Get out if you so choose. KEEP YOUR LICENSE ACTIVE>
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Mile,
If you've been in business for 15 years, you've had enough time to
figure out the good clients and bad clients. I actually have very
few bad clients, occasionally I'll take on a new one who's use to
getting their way....I just tell them 'no', I don't expect repeat
work from them. When some of the AMCs originally contacted me
with their 'low' fee schedules, I just said, not interested at those
fees. Lots of the slimmy realtors don't bother with me either, but
the better ones do.
 

ChrisBert

Freshman Member
Joined
Dec 18, 2007
Professional Status
Certified Residential Appraiser
State
Massachusetts
I've been appraising for about 9 years and I to have a limited amount of good clients. I'm used to the pressure it doesn't bother me any longer, it's just a game with these brokers they bounce around until they find an appraiser that will do what they ask with promises of additional work. Believe me additional work sounds good but it will stop once you loose you're license, Ive seen it happen. Whatever, it wont change at least it hasn't for the past 9 years. It is what it is, it's the game of Real Estate, just try not to get caught up.
 

Bama Bayou

Senior Member
Joined
Oct 19, 2006
Professional Status
Certified General Appraiser
State
Alabama
There will alway be a market for a competent appraiser. Maybe not a big market, but it will be there. I'm not going anywhere. I love my work and my profession.
 

Mike Siegfried

Junior Member
Joined
Nov 6, 2005
Professional Status
Certified General Appraiser
State
California
Good timing on your post. With all the recent hoopla and changes in the wind I was thinking that maybe I'd go back to being a realtor. Easier hours, big fat commission checks, no writing reports on weekends, etc. So yesterday I was doing my dog & pony show at a real estate office in Beverly Hills for one of my MBs who is embedded there and I got a real wake up call. Just watching the people milling around, talking about their deals and client problems reminded me of why I got out in the first place. I was SOOOO happy to go out to work today. The grass is always greener, I guess.

Mike
 

jakeboeger

Member
Joined
May 12, 2005
Professional Status
Licensed Appraiser
State
California
Your probably not going to miss much. Getting out is and/or appraising part time is not a bad idea.
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
My move has been in progress for the past four months. Less and less appraisal business. Don't need the worry or the mess the industry/profession has become.
 

lionfish

Junior Member
Joined
Feb 8, 2004
Professional Status
Certified General Appraiser
State
Washington
There is the market at work. With fewer appraisers the fees will go up... Right?!
 
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