Is it a bad time to become an appraiser?

**a tin pan alley** · 06-30-2008, 09:34 AM

I did property scouting for a company that ended up going under because their agents couldn't sell the fixed up houses. I'm working at a software company right now but I've been saving up to take appraisal classes. I've taken sales agent classes a few years ago but never got licensed because I was disappointed with how many idiots were around me (no offense!). It just really turned me off. Becoming an appraiser is MUCH harder than becoming an agent (in this state, at least), and I feel like I had already been doing an appraiser's job (mostly), so why not pursue the idea of becoming one? Besides, I'm not much of a salesman. I like consulting better.

So. I've been saving up to take classes, but as I noodle around job websites I'm not really finding anyone looking for appraisers. If they are, they specifically mention "NO TRAINEES". How would I get the hours I need to become licensed/certified? Should I keep saving but put the money aside and wait for things to turn around, or should I go for it as soon as I can?

**jamesww** · 06-30-2008, 03:40 PM

This is a really difficult question to answer becuase alot of it depends on your own finances. I would not try and go at it part time because you will most likely spend more than you will make. And last I checked the goal to providing services is to make money.JK If you can afford to go at it for 6 months and make nothing during that period then I say go for it. Starting during down markets can be a great way to get into the business if you can suffer through the hard knocks because you are already established when things get running smoothly. Good luck on whatever you decide to do.

**a tin pan alley** · 06-30-2008, 05:24 PM

Well I would be taking classes while working full-time, but I would quit my current job to get trainee hours (unless I found someone willing to 'mentor' me on the weekends. unlikely). I wouldn't be able to do it part-time.

Obviously I would make sure I had someone willing to take me on as a trainee before I put in my two weeks, but my worry is that it seems nobody WANTS trainees right now (I could finish classes by the end of summer). I'll spend the money on class-time, won't be able to get my hours, and I'll forget everything I learned by the time the market picks back up.

I thought about actually looking up firms in the city and surrounding suburbs to get their opinions but I figured a forum would be a better spot.

So what do you think, James (or anyone else! don't be shy)? Hope I described my situation a bit better. I appreciate the input. And I'm sure there are others out there that are wondering.. Maybe they'll find their way here.

**surf** · 06-30-2008, 10:27 PM

I would think that someone should wait a good 6 months or longer to get into any real estate realated field, unless you have tons of money and don't mind waiting for your next check.

**a tin pan alley** · 07-01-2008, 06:28 AM

So what I'm getting is: Make sure I have enough money put aside to live off of until I get going. So the pay is sort of the same as being a sales agent? I can understand getting paid per property, but wouldn't the firm be getting business? Also, I'm positive there are places that pay a salary, too. Unless I'm completely mistaken. So.. Now there's more questions.

**jamesww** · 07-01-2008, 10:49 AM

Most firms that are going to be willing to take you on are not likely to pay you a salary. On top of this as a new guy few leads will run your way unless you go make things happen yourself. If you are truely serious and have enough gumption to go to every firm even the small independents and try to get in front of whoever is in charge then ask this person telling them you do not expect to recieve any pay until you have put in your hours you will find a firm to take you on. If you are unwilling to do this you will miss out big time. If you know how to get in with loss mitigation asset managers and the heads of banks loss mitigation department you will find that there is just as much business now then there was during the boom. You just need to know how to find it. One thing you have to remember in any of the real estate related fields you will get paid on what you produce. None of the real estate specialties are like having a job in the other sectors of the economy.

**drflet** · 07-01-2008, 11:10 AM

I know the firm I started with didn't pay me a salary at first either.

**jennettecj** · 07-03-2008, 06:37 PM

You should consider asking this question at the Appraisers Forum as the posters there are better suited to answer your question. I'm am an Appraiser and an Agent in Arizona and times are tough! It's much easier right now to make it in sales then in appraisal. If you do decide on appraisal spend some time on the appraisers forum, that may help direct you in the right direction when looking for a mentor. Be prepaired to make no money for the time you train (2 years, not 6 months) and be sure to train only under someone with strong ethics. Good luck to you, appraisal is a great way to go, but you'll have to earn it!

**Aprilwms** · 07-07-2008, 12:01 AM

Appraisers are hurting and dropping out of the market. On the positive, if you can find a mentor, you will be positioned well for the next market cycle. The negative, you will not make much income in the meantime.