Upcoming Changes To Real Property Appraiser Qualifications

[The Warrior Monk]

Correct me if I'm wrong but the 4 year degree will be wanted at some point in the process before a license is handed out.

That's true, but it's entirely different from getting a four-year degree first. A trainee can work toward their experience requirements while obtaining their college education. When they obtain their college degree, they can make a choice as to whether or not they want to receive their CR/CG credential.

Think about it, you could become a doctor or lawyer in the same amount of time practically once you add the 4 years of college on top of the 2-4 years spent training. It could be roughly an 8 year process before you have your license 1 day and can actually sign off on reports and earn money.

The experience can be obtained concurrent with the education.

Becoming an attorney requires 7 years of full-time in college. Appraising only require 4, so they are not the same. Furthermore, the four year degree does not have to be in any particular subject, so the appraiser can get their degree at a state, or similar, school at lower cost (BTW, the same thing is true of the four-year degree required in ordered to enter law school).

However, the three years of law school are very expensive. I've haven't checked in a few years, but I believe you're talking at least $15K per semester, or $90K total, for a cheap law school. That's a big bite out of people's wallet.

I see very few individuals going down that path unless the biz changes from top to bottom.

I assume you mean change top to bottom for the GSE world. It's completely fine everywhere else.

 

[Pittsburgh Pete]

Yep, most of the residential appraisers out there chose appraising over law school or medical school. I personally decided on appraising after considering being a heart surgeon--didn't want to be on call and deal with that icky blood stuff.

 

[The Warrior Monk]

If being an attorney and an appraiser required the same amount of work, you'd be seeing "Esq." after my name.

 

[Delta85]

A trainee can work toward their experience requirements while obtaining their college education.

That's easier said than done unless you go to college part time which would extend the amount of time it takes to get licensed even farther.

Anyone that has gone to college knows what a hassle a full time load of classes is between studying, completing projects, passing finals and mid terms, and working on ongoing assignments. How reasonable would it be to expect a full time college student to also be training to be an appraiser? When I trained to be an appraiser I did so full time and it was a lot of time on my part for little compensation. I worked in the evenings and my wife worked days. If I had a full load of college classes combined with all that it would be more than I could handle.

 

[Delta85]

If being an attorney and an appraiser required the same amount of work, you'd be seeing "Esq." after my name.

Timewise they are similar once the 4 year degree requirement kicks in. Workwise they are not.

 

[Delta85]

The experience can be obtained concurrent with the education.

Becoming an attorney requires 7 years of full-time in college. Appraising only require 4, so they are not the same. Furthermore, the four year degree does not have to be in any particular subject, so the appraiser can get their degree at a state, or similar, school at lower cost (BTW, the same thing is true of the four-year degree required in ordered to enter law school).

Again I disagree. Anyone that completed 4 years of college full time knows what a commitment that is. How could one also train to be an appraiser full time? Most people also have to work for some kind of income unless they are getting a total free ride from their parents. Either one or the other would have to be part time which still extends the time it would take to get licensed and up and running. I would not recommend training to be an appraiser part time. There is so much to learn and observe that you need to work at it every day while training.

And this would have to be a decision made prior to entering college. How many HS seniors are sitting around the kitchen table considering a career in appraising while preparing for college?

 

[J Grant]

Some people go to college , and then make career switches later, often in mid life or late thirties Appraising might appeal to that group more than people just finishing their degree (who usually are more idealistic and would tend to gravitate toward more exciting or rewarding jobs.)

Those who major in RE or finance might pursue commercial appraising right after graduation.

How the res field will develop, who knows. Right now it is fully staffed and plenty of fee appraisers avail so except for sparsely populated or outlying areas, the AMC's who control most res work are not raising fees, since any appraiser shortage is years away, they dont' care if those in it now can survive on their fees or not, there is always good old Forsythe or Metro West to mop up the work.

 

[The Warrior Monk]

That's easier said than done unless you go to college part time which would extend the amount of time it takes to get licensed even farther.

I know what it's like because I've done it myself. I was working as an appraiser full time and going to college full time to get my A.S. degrees (already had my BS, but was considering a career change at one point). It can be done.

Timewise they are similar once the 4 year degree requirement kicks in.

You're not comparing apples to apples. You're comparing 4 years education + 3 years experience to 7 years education + 0 experience and calling them similar. Not true at all.

 

[The Warrior Monk]

BTW, I'm still trying to make sense of your posts, with nobody entering the business and a historic flood of CGs entering the business occurring at the same time.

 

[Delta85]

I know what it's like because I've done it myself. I was working as an appraiser full time and going to college full time to get my A.S. degrees (already had my BS, but was considering a career change at one point). It can be done.

Anything can be done theoretically. The average person would not be able to train to be an appraiser while attending college at the same time. I've done both too, just not at the same time.

Most people have to work while attending college and there is very little money to be made as a trainee appraiser. So one might find themselves training to be an appraiser, attending college, AND working part time somewhere.

We are getting lost in the clouds again though. It all comes back to who would want to do this? Even with improved fees and working conditions being an appraiser is still a risky venture of large expenses, long hours, no sick time or vacation pay, no health benefits, no paid holidays, no unemployment insurance, etc. A college grad can walk into an entry level job and collect all of that and more. I just do not see anybody looking at the real picture and wanting to invest 4 years in college plus the appraisal training and all the expenses and hardships that go along with all that.

At best, I see a handful of college grads stumbling into the profession not knowing what they are really getting into. That or the sons and daughters of successful appraisers with a built in business and stability waiting for them.