Trainee Asking About Stress in Business

[Alijandi20]

Hello,

I'm a new member and a trainee appraiser. I'm about halfway through my 1000 hour requirement and just started my online classes for full licensure. I'm currently working for an independent certified appraiser in MI. My supervisor is very busy with low interest rates and has probably made more money so far this year than he ever has, but he's been very stressed with the intense workload (hence the reason to take on a trainee, maybe?). Unfortunately, the stress seems like its really taking a toll on his health. As a young person going into the industry, it seriously makes me wonder if I'm signing myself up for a lifetime of 70 hr work weeks and heart problems. Has this been the case for other appraisers? I understand 2020 and COVID has been incredibly difficult for nearly everyone, but even without the crisis, is the appraisal biz always so stressful?

Also, I would love to hear any other advice not related to stress in the business that you would like to share.

Thank you!

 

[George Hatch]

Stressful compared to what? Every occupation and mode of employment has stressors.

When times are good, fee appraisers have some control over how many assignments and how many hours they work. If they're taking on too much work or putting in more hours than they can sustain then that's something they can control.

 

[Deleted member 152047]

Being overworked hardly ever stresses me out. In this business, you can control how much work you take on in the good times.

The really stressful times are when lending stops (2009 & 2010). Then if your primary customers are banks, you really had to diversify or you would starve.

At the end of the day, you need to have an entrepreneurial spirit and take time to enjoy life. I think most appraisers are afraid to ever take time off because if you are not working, you aren't making money. This thinking is a bit backward though. We have the incredible benefit of being able to work from anywhere (aside from inspections), being able to work whenever we want during the day/night, being in control of our own destiny (you can make as much or as little in this business as you want), and being able to take as much time off as we want.

I assume you are young, take the next 8-10 years and grind. Learn as much as you can, build your book of clients, definitely get a certified general license and gain exposure and experience in commercial, and bank as much as you can. After that, you can take your foot off the gas if you want and work as much or as little as you want.

I know this is a long answer, but this profession really can be a great one for the right person. Don't settle for being in the bottom 90% of the profession. Work to be the best, find a niche where people are willing to pay you handsomely for your work. Don't listen to the naysayers on this forum who complain about fees and wonder why they never get any work.

Hope this helps, best of luck with your endeavor and don't be scared off by an overworked mentor. His stress issues are his own doing.

 

[Alijandi20]

Stressful compared to what? Every occupation and mode of employment has stressors.

When times are good, fee appraisers have some control over how many assignments and how many hours they work. If they're taking on too much work or putting in more hours than they can sustain then that's something they can control.

Being overworked hardly ever stresses me out. In this business, you can control how much work you take on in the good times.

The really stressful times are when lending stops (2009 & 2010). Then if your primary customers are banks, you really had to diversify or you would starve.

At the end of the day, you need to have an entrepreneurial spirit and take time to enjoy life. I think most appraisers are afraid to ever take time off because if you are not working, you aren't making money. This thinking is a bit backward though. We have the incredible benefit of being able to work from anywhere (aside from inspections), being able to work whenever we want during the day/night, being in control of our own destiny (you can make as much or as little in this business as you want), and being able to take as much time off as we want.

I assume you are young, take the next 8-10 years and grind. Learn as much as you can, build your book of clients, definitely get a certified general license and gain exposure and experience in commercial, and bank as much as you can. After that, you can take your foot off the gas if you want and work as much or as little as you want.

I know this is a long answer, but this profession really can be a great one for the right person. Don't settle for being in the bottom 90% of the profession. Work to be the best, find a niche where people are willing to pay you handsomely for your work. Don't listen to the naysayers on this forum who complain about fees and wonder why they never get any work.

Hope this helps, best of luck with your endeavor and don't be scared off by an overworked mentor. His stress issues are his own doing.

Thanks for the advice! What does an entrepreneurial spirit look like?

 

[Tim The Enchanter]

It's a feast or famine business. It's hard to not feel you have to go go go when it's busy because you know sooner or later the wind will go right out of your sails and you come to a halt. And if you're not working, you're not making money. Right now I am picking and choosing and trying not to take on too much. I have had enough working at 100 MPH over the years.

The other stress is from the clients, mostly.

 

[Terrel L. Shields]

Has this been the case for other appraisers? I understand 2020 and COVID has been incredibly difficult for nearly everyone, but even without the crisis, is the appraisal biz always so stressful?

Sometimes worse so...Covid is a piece of cake. Stress is also when you are working 8 to 20 hours a week, not 70...So on a scale of zero to ten...give it an 11...but almost every profession is much the same way. Jordan Peterson commented that women lawyers often quit in their 30s at their career peak due to too much stress, not enough time for family. He said, "The strange thing isn't that women do this. The strange thing is that men do and as a consequence severely impact their health." Jordan then proceeded to do way too much, world tour for his book, etc. and started taking pain meds. Realizing that was leading to potential addiction issues, he quit cold turkey and collapsed. He is just now recovering after some 18 months of what most of us might call "mental breakdown." I know a number of architects, engineers, etc. that worked for Walmart and also suffered a collapse. As one architect told me, "The last thing I remembered was getting off the plane at 10pm..."

Set times off and keep them regardless. Exercise. You cannot imagine how a 2 mile walk every day benefits. Don't drink. Don't smoke. Eschew pain killers, sleep aids, etc. Otherwise you end up like your mentor, me and thousands of other appraisers. Over-weight, on meds, and short of energy.

 

[Mejappz]

If you are on the AMC merry-go-round, it's only a matter of time before you get a heart attack. The cushiest best-paying positions in this industry are owning an AMC, working for TAF(colossal salary, benefits, traveling everywhere, even Dubai), and having a cubicle job for the GSEs.

 

[Alijandi20]

Sometimes worse so...Covid is a piece of cake. Stress is also when you are working 8 to 20 hours a week, not 70...So on a scale of zero to ten...give it an 11...but almost every profession is much the same way. Jordan Peterson commented that women lawyers often quit in their 30s at their career peak due to too much stress, not enough time for family. He said, "The strange thing isn't that women do this. The strange thing is that men do and as a consequence severely impact their health." Jordan then proceeded to do way too much, world tour for his book, etc. and started taking pain meds. Realizing that was leading to potential addiction issues, he quit cold turkey and collapsed. He is just now recovering after some 18 months of what most of us might call "mental breakdown." I know a number of architects, engineers, etc. that worked for Walmart and also suffered a collapse. As one architect told me, "The last thing I remembered was getting off the plane at 10pm..."

Set times off and keep them regardless. Exercise. You cannot imagine how a 2 mile walk every day benefits. Don't drink. Don't smoke. Eschew pain killers, sleep aids, etc. Otherwise you end up like your mentor, me and thousands of other appraisers. Over-weight, on meds, and short of energy.

Oh no, currently drinking a glass of red wine as I read this I’m also a fan of J. Peterson and am glad to see he’s
on the amends. His second book should be coming out soon, too. I’ve also thought about having a family and how that would impact my budding career, as I’m a young woman. I was hoping I could work 30-35 hours a week and take care of a family my significant other and I plan on having in a few years. Until then, I can push it and work 40+ hours a week once I’m fully licensed and have more autonomy. That’s the main reason for my question; I want to be able to have a good career from home and be able to take care of a family as a wife and mother when it comes to that.

 

[Mejappz]

Well, in the past, this would most certainly be doable. But since the AMCs have ransacked the entire industry, it gets more complicated. And to further complicate the situation, TAF is now implementing Parea to keep their cough cough IAC “partners” happy. Anyway, I suggest you apply with several smaller local lenders and credit unions in your area; you can have a steady stream of work without getting swamped. Good Luck!

 

[KEN SMITH]

Well, in the past, this would most certainly be doable. But since the AMCs have ransacked the entire industry, it gets more complicated. And to further complicate the situation, TAF is now implementing Parea to keep their cough cough IAC “partners” happy. Anyway, I suggest you apply with several smaller local lenders and credit unions in your area; you can have a steady stream of work without getting swamped. Good Luck!

Marry a women with a good job that can provide you with health insurance