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Message
Career Path - Appraiser or Insurance
Posted on 7/21/22 at 5:02 pm
Posted on 7/21/22 at 5:02 pm
Looking to hear from folks with experience in either of these fields.
I'm getting ready to make some changes, and I've got a couple different paths with some in-roads, and people to help me. I'm in my early 30's, married with a couple kids.
One option is to go the Appraiser route. My particular contact in this field is in the commercial space as a certified general appraiser.
The other route is the commercial insurance route. I have not had as many talks with my contact, but he's already very successful and highly connected in our regional area. There's the potential he's looking to branch out and form a team, as he's essentially maxed out as is (or as busy as he wants to be right now).
I know this is a very vague level of detail at this point (I'll update as I get more information). But essentially, I am interested in hearing from anybody with experience in either of these fields - the good, the bad, the ugly.
I'm not one to work for somebody else forever (I currently run 2 other companies, and some real estate/STR's, they run themselves fairly efficiently without my involvement, I'm just looking to maximize my time & income to further grow my long-term wealth). If you were talking long-term planning, and were to really grind in one of the fields, is there a way to form your own team/company, and do well at it? Which one could you really hit a "homerun" with if you buckled down? Are they about the same?
I'm getting ready to make some changes, and I've got a couple different paths with some in-roads, and people to help me. I'm in my early 30's, married with a couple kids.
One option is to go the Appraiser route. My particular contact in this field is in the commercial space as a certified general appraiser.
The other route is the commercial insurance route. I have not had as many talks with my contact, but he's already very successful and highly connected in our regional area. There's the potential he's looking to branch out and form a team, as he's essentially maxed out as is (or as busy as he wants to be right now).
I know this is a very vague level of detail at this point (I'll update as I get more information). But essentially, I am interested in hearing from anybody with experience in either of these fields - the good, the bad, the ugly.
I'm not one to work for somebody else forever (I currently run 2 other companies, and some real estate/STR's, they run themselves fairly efficiently without my involvement, I'm just looking to maximize my time & income to further grow my long-term wealth). If you were talking long-term planning, and were to really grind in one of the fields, is there a way to form your own team/company, and do well at it? Which one could you really hit a "homerun" with if you buckled down? Are they about the same?
4
Posted on 7/21/22 at 7:01 pm to Fbohn1
I’d say insurance easily. Won’t make as much ramping up but it’s lucrative once you get it going and start living off the residuals. It’s also not hugely tied to one industry like appraisals are. Everybody needs insurance even in a recession. Commercial is a lot more relationship based too vs personal lines that will leave you for $25.
I just see the appraisal business, even the commercial side, becoming more and more consolidated and regulated almost to the point of automated appraisals even coming on the commercial side. It too is a grind. You can kind of think if it as a little recession proof if you have good bank clients. Banks love appraisals for whatever reason and will get them when doing loans and also get them when foreclosing on loans ??.
- 25 yr commercial banker
I just see the appraisal business, even the commercial side, becoming more and more consolidated and regulated almost to the point of automated appraisals even coming on the commercial side. It too is a grind. You can kind of think if it as a little recession proof if you have good bank clients. Banks love appraisals for whatever reason and will get them when doing loans and also get them when foreclosing on loans ??.
- 25 yr commercial banker
This post was edited on 7/21/22 at 7:53 pm
Posted on 7/22/22 at 8:15 am to Fbohn1
Read this thread about Pros/Cons on Commercial Appraiser career path
This is a helpful reference thread from someone in the industry.
This is a helpful reference thread from someone in the industry.
Posted on 7/22/22 at 4:27 pm to Fbohn1
I was a commercial appraiser for 7 years. Too much stress. Too many deadlines. Decent money.
I don’t know any appriaiswrs with a good work life balance.
Can’t recommend it.
I don’t know any appriaiswrs with a good work life balance.
Can’t recommend it.
This post was edited on 7/22/22 at 4:38 pm
Posted on 7/22/22 at 7:06 pm to Fbohn1
I’ve been in commercial insurance for 10 years. It’s an amazing industry to get into and can make you serious wealth. I worked 2 years at a wholesale brokerage and 8 years at the same carrier now underwriting.
You can make WAYYYY more money (millions) in brokerage, but you work your dick off non stop. You have no product so you’re married to the relationship with your clients and uws.
I chose underwriting because I’m not as extroverted and prefer to have more of a work/life balance. I make probably better than decent money and really enjoy my job.
You also get treated to some really nice dinners/events/etc.
I’d recommend commercial insurance to anyone.
You can make WAYYYY more money (millions) in brokerage, but you work your dick off non stop. You have no product so you’re married to the relationship with your clients and uws.
I chose underwriting because I’m not as extroverted and prefer to have more of a work/life balance. I make probably better than decent money and really enjoy my job.
You also get treated to some really nice dinners/events/etc.
I’d recommend commercial insurance to anyone.
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