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Started By
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Thoughts on Becoming a Commercial Real Estate Appraiser?
Posted on 7/19/17 at 12:34 pm
Posted on 7/19/17 at 12:34 pm
I have a financial background, a CPA and have given this some thought over the years but am a bit intimidated by the time commitment to become certified.
My dad is general certified and has been in the industry for most of his career. He does pretty much exclusive commercial work. He would obviously act as my "supervisor". He has really settled down into a groove and only has a few clients at the moment, not interested in growing his business (ie workload), so I may have some opportunity there to take on business he may not be interested in.
Being my own boss is important to me, and I'm not sure I feel comfortable opening a traditional "CPA service" shop on my own, so I thought this may be a great way to build my valuation skillset, while also controlling my own destiny.
Any input would be great.
My dad is general certified and has been in the industry for most of his career. He does pretty much exclusive commercial work. He would obviously act as my "supervisor". He has really settled down into a groove and only has a few clients at the moment, not interested in growing his business (ie workload), so I may have some opportunity there to take on business he may not be interested in.
Being my own boss is important to me, and I'm not sure I feel comfortable opening a traditional "CPA service" shop on my own, so I thought this may be a great way to build my valuation skillset, while also controlling my own destiny.
Any input would be great.
Posted on 7/19/17 at 12:46 pm to OceanMan
Only way is if you get your MAI.
Posted on 7/19/17 at 2:46 pm to OceanMan
I've been a commercial appraiser at a national company since graduating college in 2014 and got certified earlier this year. I'd be more than happy to discuss with you if you'd like.
Posted on 7/19/17 at 3:03 pm to OceanMan
Well, I think it is an excellent career with long-term serious potential if you stick with it.
Reason being the long road to certification and requirements you mention in your post. The appraisal industry has been squeezed for years in the residential category alone, so the commercial pool is even smaller.
In other words, few people going that route anymore leading to more potential in a long-term outlook.....just my two cents.
Reason being the long road to certification and requirements you mention in your post. The appraisal industry has been squeezed for years in the residential category alone, so the commercial pool is even smaller.
In other words, few people going that route anymore leading to more potential in a long-term outlook.....just my two cents.
Posted on 7/19/17 at 3:09 pm to OceanMan
I've been appraising commercial properties since 1990. At one point I was working towards a designation, but it went by the wayside due to the time demand and the constant cost of living. As a general certified appraiser, I've always stayed busy and through the years have become much more selective and specialized relative to which jobs I want to complete. I prefer appraising farmland and industrial properties, so bid more aggressively on those and bid real high/long on undesirable jobs.
There is a growing shortage of appraisers, so future is bright with regard to business. One of the biggest problems of the industry is the apprenticeship need and finding an experienced appraiser to work with. It looks like you already have bypassed that hurdle. There is talk of removing the college degree from the certification requirement. That would bring larger numbers into the fold.
Pros:
It's "a living". You'll never get rich, but you can comfortably raise a family.
I absolutely love being my own boss, choosing my assignments, and coming & going as I please.
In this day and age, you can operate your own "appraisal shop" with a computer and desk. Everything you need is on-line now, be it for a price.
Cons:
Benefits of a corporate structure with paid vacation and health insurance.
Income tops off a certain level, unless you want to work your butt off or bring in trainees, which is time-consuming and increases liability (E & O insurance).
There is a growing shortage of appraisers, so future is bright with regard to business. One of the biggest problems of the industry is the apprenticeship need and finding an experienced appraiser to work with. It looks like you already have bypassed that hurdle. There is talk of removing the college degree from the certification requirement. That would bring larger numbers into the fold.
Pros:
It's "a living". You'll never get rich, but you can comfortably raise a family.
I absolutely love being my own boss, choosing my assignments, and coming & going as I please.
In this day and age, you can operate your own "appraisal shop" with a computer and desk. Everything you need is on-line now, be it for a price.
Cons:
Benefits of a corporate structure with paid vacation and health insurance.
Income tops off a certain level, unless you want to work your butt off or bring in trainees, which is time-consuming and increases liability (E & O insurance).
This post was edited on 7/19/17 at 3:13 pm
Posted on 7/19/17 at 8:39 pm to OceanMan
With the advice given, it sounds like you should be well on your way! Good luck!
Posted on 7/19/17 at 11:26 pm to OceanMan
Just curious, don't you have a JD/LLM in tax or am I thinking of some other FSU poster?
Also, I'd think with that background if you got into Commercial you'd have an inside track on making your own way investing in that market.
Also, I'd think with that background if you got into Commercial you'd have an inside track on making your own way investing in that market.
This post was edited on 7/19/17 at 11:26 pm
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