Trainee to bring own clients in K.C..........

[wyecoyote]

Lee Ann,

I read some of your posts and do feel for you I really dislike those tough properties but it sure as heck makes up appreciate the cookie cutters when you get one. Your probably right I know my step mom works as a RN in the local hospictal. She works 3 days a week and makes more than my dad does. He is an electrician with the Local IBEW and the site foreman. I've seen some of his pay checks and he makes a heck of alot of money way more than I do. But still I don't think I will ever give up appraising to work somewhere else.

Ryan

 

[Dean House]

We have two ex RN's in our appraisal office. They both assure me that appraising is less stressfull.

 

[jill shirley]

I am currently an LPN, making approx 25k a year. Just to be clear, are you all suggesting that the appraisal business coulndnt compete with that? This is an average salary for an LPN, there is little possibility of my income increasing unless I were to return to school to obtain my RN.
From what Ive seen on this forum, the general claim is that the hours in your field are too long, the pay is way too little, and the market is oversaturated with competition. I have a hard time beleiving all this. If in fact the pay is so low and the days so long, why is the market so saturated? Doesnt take a rocket scientist to figure out that people as a general rule do what works for them. If its not working as you claim, why do it?
In regard to the oversaturated with competition claim I checked with the missouri state board and there are only some 2000 licensed appraissers in that state. There are more than three thousand nurses in the outpatient dept of the hospital I work in right now and we are extremely understaffed. Is the fear of competition so great you all would diliberately mislead prospective appraisers for fear that they might "join the ranks"?
If in fact the state boards calculations are correct, this fear seems rather unjustified.
All I want to do is research this subject thouroughly, obtain some unprejudiced honest opinions and make a decision from there.
Come on people, is this how you really feel? 'Cause I smell a rat.

 

[Dave Smith]

Jill:

You said : "Is the fear of competition so great you all would diliberately mislead prospective appraisers for fear that they might "join the ranks"?"

In a word NO, at least not on this forum.

However, it is a "long and rocky road" to success as an appraiser. The comments are only meant to warn you.

 

[Nelson Magana]

Jill,

I am currently preparing to take my state exam and, quite frankly, I have only heard about the "difficulties" of entering the appraisal field. There MUST be a few success stories out there! I am leaving a career as a union carpenter to become an appraiser and (one day) open my own shop. I have had numerous people laugh at me for my new career choice and tell me how hard of a field this is and that there is no work out there. I was wondering about the same question you are. If there truly is no work out there and too many appraisers, why are people still entering the "arena"? In my area, there is only 6 licensed appraisers and, they are over 5 weeks behind deadlines. I personally know of an investor that works with several mortgage companies and the biggest complaint is that the appraisers are too far behind in their workload. I have not quit my job but, I have aggressively searched for a trainer. I dedicate many hours on finding a sponsor yet, no one is interested in a "trainee". The "flipside" of this is that I had offers to do carpentry work on the side! I am positive that I will make a great ETHICAL appraiser if just given the opportunity to prove myself. I wish you the best of luck!

Nelson
nemagana@snowcrest.net

 

[Frederick R. Ruffell]

Jill and Nelson,

I am in my fourth year as an appraiser. Last year is the first year I made any money. There is alot of work out there, however very few banks are going to accept/approve an appraiser with just 2,000 hours of experiance. Just because you have license doesent mean you are qualified or competant to appraise every property. If you have a million dollar E&O policy there are plenty of low life (preditory lenders) brokers willing to commit fraud in your ( and your insurance carriers ) name. Good luck, be careful, and go for it. It was the best career decision I have ever made, but thats just me. P.S. My wife is an R.N. in home healthcare, at least she was last time I saw her,LOL. I don't blame you for wanting a break from the pressure and stress but don't count on it being an appraiser in mortgage origination. But at least we can say no as an indepentent contractor.

 

[Dale Smalley]

Jill

Just what do you mean by Silent Mentor?

Is that the new term for sucker. You had better bring some drugs from the hospital to keep them sedated.

Appraising is the easy part of this business. Saying NO to your best client and loosing your income. Thats the ethical appraiser. What are you going to do? If you can survive the two years of inspecting every crack house in the county you can make living at it. You only get paid for how much work you do. No extras here. You are only as good as you last appraisal.

Good luck finding a quality mentor but forget the silent crapola. You need someone to teach you how to do it right and yell like hell when you are wrong.

 

[George Hatch]

Nelson, you might have some extra options not available to everyone. As a carpenter, you probably have a better than average knowledge of building codes, construction techniques and repair procedures. You could parlay this experience toward becoming a home inspector. If I were just entering the residential appraisal field right now, I'd be looking to become competent in both residential appraisals and home inspections. There are course to take for home inspection and some of that knowledge has application in appraisal work. Particularly when appraising properties that are under construction or are in need of repairs, refurbish or remodeling. Your experience and training in construction would contribute to better appraisal work; Becoming proficient in appraisal work, particularly the report writing, would aid you in writing nice clear inspection reports.

In my state, most sale transactions end up using both an appraisal and a home inspection. Being able to provide both at the same time would build a niche for yourself that would distinguish you from the rest of the herd. It would also cut down on the running around (fewer jobs, bigger fees). The era of the one-trick pony has ended. You should consider developing as a double threat.


George Hatch

 

[Dee Dee]

Jill,
Your conspiracy theory is a common one among those trying to enter the trade and who find themselves hitting dead ends. I used to think the same thing, but now that I've reached a point where I have my own certification I understand much more clearly why most appraisers can't or won't hire trainees. It's a long list, and worrying about competition is only one small part of it.
You should start a new thread in this section, asking established appraisers specifically why they don't hire trainees. Contrary to popular myth, it's rarely because we're making big bucks and want to hoard it all to ourselves.

Dale,
You said a mouthful there. :lol:
I would like to know what a 'silent' mentor is. I've never heard the term used before but it sounds like trouble to me too. One thing's for sure, if I was signing off on a report where my license was being put on the line, you can bet I wouldn't be silent about it.

 

[Pamela Crowley (Florida)]

There is no conspiracy to keep newbies out of the profession. Especially because 'it's so good'!!!

In my area and most urban areas, the schools are pouring out the trainees with no knowledge of what a real appraisal is all about. Most were told how fast and easy it is and never knew that the inspection is only the fun 10% of the job.

Add to this the 'make whatever value told to' appraisal sweat shops where the trainees are sent all over the state and have no idea what they are doing and you can only begin to understand the mess that this profession is now in.