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To Hire An Assistant Or Work Solo?

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Ascended

Freshman Member
Joined
Mar 2, 2011
Professional Status
Certified Residential Appraiser
State
Arizona
I am really plagued on how to proceed with my business. I got certified back in 2014 and opened my own LLC at that time. Now, I am "capped" at the most work I can handle by myself. Thus, my income ceiling has been hit working on my own. I could hire an assistant or apprentice, but is it financially worth it? Is it worth the time, money, and training? I really am not sure which way to go. Keep working on my own and am at my income ceiling or to hire an assistant or apprentice to help with data entry, calls, etc. Thoughts?
 
When I first began a 'true solo' shop, I had to sign up with another MLS to get business as local work was taken. I slaved through, driving 1 hour for assignments. Yes, yes, I was geo comp, but at a mileage price. Built up my rep and began to get clients locally (10-15 minute away local assignments). Now I focus on the high dollar, complex stuff no skippy wants to do along with better clients that pay MY fee. $450 is my minimum and I'm as busy as I want to be.

Lee is right, find better paying clients.
 
Work on your CG. That will help you and an assistant is best. Flex schedules for working moms will get you the best workers. Don't mentor anyone. Too much liability.
 
I've been a one man band for almost 32 years. I'm considering a personal assistant, not a trainee, to take some of the leg work over for me. If it wasn't for health issues I wouldn't even be considering that.
 
There are a couple of biz models you could pursue depending on your appraisal, marketing and sales skill levels.

If you feel well compensated for your current assignments, I would definitely go the assistant route-part time computer literate moms as one suggested is ideal.

You will increase your bottom line big time.

Weed out the slow/low payers as you go and focus on the better payers will result in similar higher net with less assignments, keeping the assistant means you make more than currently while working less.

The new free time may allow for CG education as well.

Your choice.
 
There are a couple of biz models you could pursue depending on your appraisal, marketing and sales skill levels.

If you feel well compensated for your current assignments, I would definitely go the assistant route-part time computer literate moms as one suggested is ideal.

You will increase your bottom line big time.

Weed out the slow/low payers as you go and focus on the better payers will result in similar higher net with less assignments, keeping the assistant means you make more than currently while working less.

The new free time may allow for CG education as well.

Your choice.
Thank you. Your thoughts are very helpful. Speaking of CG, is it worth it for a residential appraiser? I have no desire to appraise commercial which is why I haven't bothered to pursue it.
 
Thank you. Your thoughts are very helpful. Speaking of CG, is it worth it for a residential appraiser? I have no desire to appraise commercial which is why I haven't bothered to pursue it.

Umm, no.
 
I've had 2 different assistants over the years. Unfortunately, my experience was that they were overpaid for what they did (data entry, minor investigations), and while I appreciated saving some time it never sat right at the end of the month when I calculated how much they did and how much I paid them. Both were very good and very flexible, but there is only so much an assistant can do for a solo residential appraiser. I've been without an assistant for over a year now, and I don't regret it. I've automated everything I can think of (like DataMaster), and have been very organized in terms of saving useful information for later use that will save future time (e.g. quotes from zoning docs for common non-conforming properties that I will use again and again). I've also spent years developing a massive spreadsheet that I track nearly all of my adjustments. While I don't copy adjustments from prior analyses, it serves as a decent check when I run into problem appraisals where the data may not be making as much sense as I would like (usually due to minor market fluctuations or odd comps), which saves time by pointing me back in a more probable direction. The vast majority of my time is spent developing and communicating appraisals, something an assistant cannot (or should not) do. I'm to the point where the amount of work I could pass off to someone else would save me only minutes, not hours. YMMV.

Spend some time and think of every redundant thing you do, and if you can improve on it. Also consider and challenge all of your processes, I bet you'll find something you can do that will save time. And tech investments pay off!

Like the OP, I feel as if I've pretty much hit a ceiling, outside of getting higher paid work. But, I like my ceiling.
 
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