Trying to go out on my own

[timelessgizmo]

Hello, I am a Licensed real estate appraiser working in and around south San Antoinio, Texas. For the past couple of years, since I got my license, I have worked with my former supervisor, a certified real estate appraiser and a real estate agent. but now she is going to retire at the end of the year, and I am having trouble finding AMC to apply to. I'm willing to work far away counties as I am starting out and have heard of things like bifurcated appraisal, but so far, people seem to only be interested in certified appraisers. Are there any suggestions on how to get accepted by AMCs?

 

[J Grant]

Hello, I am a Licensed real estate appraiser working in and around south San Antoinio, Texas. For the past couple of years, since I got my license, I have worked with my former supervisor, a certified real estate appraiser and a real estate agent. but now she is going to retire at the end of the year, and I am having trouble finding AMC to apply to. I'm willing to work far away counties as I am starting out and have heard of things like bifurcated appraisal, but so far, people seem to only be interested in certified appraisers. Are there any suggestions on how to get accepted by AMCs?

Get certified. It no longer requires a college education, just some credits, and then idk what it takes to get from licensed to certified, but it is doable. IMO, if you don't do that, you won't have much of a viable future in res appraisals; I believe you need to be certified for FHA work as of now. It is not easy for cert appraisers these days either when it is slow, but there is almost no chance with just a licensed starting out.

 

[Diego Lopez]

Here is the playbook:

Get certified.
Get your E&O and Appraisal software.
Apply to 15 - 20 AMC's
Find out what the market rate for an appraisal is in your area.
Get orders and bid them at the market rate and do them right and fast. Notice I did not say cheaper than market, you may have to do the first 30 or so orders $10 or so cheaper while the quality of your work gets around but If you consistently do these appraisals correctly with no stips backs, plenty of AMC will actually pay a premium for you, it's not always a race to the bottom as many here say. So once the quality of your work gets around, you can start bidding a little above market rate.

Thats all kids.

 

[Red Flint]

Read all posts by Alsie35

 

[Alsie35]

Getting certified should be your Priority #1. With less than 5 years experience its going to be tough getting clients during this relatively dry spell unless you get yourself certified. FHA appraisals (just coming home from doing one) are a big part of the pie that is not available to you unless you are Certified.

I would go "all in" to get that done. In the meantime reach out to as many AMCs as you can - ask your former supervisor for leads and to put in a good word for you with her clients who should be familiar with your work. That's your best starting point.

Its a bad time to go solo (I realize you had no choice - neither did I in 2008 when we all got laid off). However, being in San Antonio you are in one of the growing areas that has work. Good luck!

 

[Fernando]

Hurry up and get certified before your supervisor appraiser retires.
Then get his/her contact list of AMCs/Lenders and let them know you're taking over, blah, blah, blah.
You have to be proactive and get the clients.

 

[Overimprovement]

ask your former supervisor for leads and to put in a good word for you with her clients who should be familiar with your work. That's your best starting point.

If supervisor is retiring, and has liked working with you, they should be quite willing to hand over their client list and contacts, unless they are selling the business somehow (our businesses aren't worth much since overhead is minimal and clients still have to vet the new owner.

The certified hurdle is real, agree with advice to get that done ASAP--look at if your state allows non-paying assignments to count toward your experience. Then you can 'appraise' any ol house and have it count. Just treat it like you would a paying assignment, because random files will be looked at carefully.

 

[Fernando]

Decades ago, I had a fellow appraiser who was only licensed. He couldn't sign off because of the transaction value.
I signed off as supervisor and we both got paid. Easy money.
Hurry and get your Certified Appraiser License and keep your hard earned profit.

 

[Fernando]

I was talking with my fellow appraiser who is younger than me. I was surprise he's taking advantages of the high tech ways in doing appraisals faster.
I'm still doing the slow ole school ways and I can't compete with the faster tech savvy young guys.
When I was young, I was using latest things in doing appraisals. Now I just don't have the mojo.
Through the years, there were talk of computers taking over our jobs. I never believed it.
I'm not up to date with the new valuing ways lenders are using so I can't say what will happen in our field in coming years.

 

[GWISC]

Take advantage of it being slow and get the education portion for certification out of the way. It will only get harder to obtain the certification if it gets busy and you may find you are locked out if getting in on any busy season simply because AMC's seem to prefer certified RA's than licensed.