CRE Appraiser
Ik its on here a but just wanted to speak freely.
Been doing appraisals for about 2 years now and not sure if its for me or not. Should get my CG license within 6 months if i stick with it. I like the wlb and flexibility but the day to day is miserable. Since the markets arent good right now either making a switch will be very difficult. Ive done a few inspections and much rather make a long drive than sit on my desk on excel and costar all day.
For people who are in appraisal, why do yall do what you do? Ive heard it gets better after getting the CG and even better after MAI. Is it that much better? Is it worth it? What will the comp look like after CG going forward? What will the hours be like after the CG?
For people who used to do appraisal and switched careers, why? Do yall miss it? Do you ever think about going back? Is it worth making the switch?
What types of properties do you appraise?
Are you in a major market?
Are you working at a big name company?
Do you use Argus on most assignments?
Is any part of your report writing process automated and/or do you outsource some of the low-level tasks, or do you have to do everything manually?
Are you doing mostly bank fee work, or do you do any work for institutional clients where you are appraising some of the same properties every quarter?
Do you get to appraise any high profile assets?
The fun part for me is that usually there is some sort of twist with every assignment, or some puzzle that needs to be figured out. I'll have conversations with the property manager/asset manager, the leasing team, capital markets guys, get color on recent sales, etc.
I started off doing mostly bank work for smaller scale stuff like strip centers, commodity office, single tenant industrial, etc., but it started to get more fun once I found a niche and became the go-to guy for certain things.
If all you're doing is plugging in costar data and doing direct caps then yeah it's gonna be boring, and also probably not a very reliable product that you can take a lot of pride in.
In terms of comp, it really depends on your output, the market you're in, and the type of exposure your company has. Generally speaking it's been tough out there for appraisers in the current market (as for the broader CRE profession) and even some of the big name shops have been cutting fees for now. But if you're a CG in a major market at a visible shop, you should be able to make 150-200k+. And there are some appraisers who are making substantially more than this.
Thanks for your input. Im in a tier 2 market (mid atlantic region) and do generally retail and industrial.
I do a mix of bank and institutional work but as a trainee the pay doesnt seem worth it right now. The flexibility is nice when its not busy but during busy season things can get rough so can’t complain.
Been at it two years and seems like a lifetime.
i've never met an appraiser who didnt wish they could make the same money doing anything else. life is too short to hate it.
Consider going into CRE banking, where your skills directly transfer, your job primarily revolves around asset valuations and thorough understanding of the fundamentals and asset-specific nuances, without having to do all of the due diligence involved with completing an appraisal. Instead, you read and interpret appraisals. Lending is not without its own slew of menial administrative/box checking/due diligence type tasks (and boy are there many), but comp is probably better for most of the career path (comparing like for like experience/title levels) and can have a lot of the WLB/flexibility aspects you seem to value.
Molestias voluptatem odio voluptas eius consequatur non minima. Dolorum consequatur sit quis animi mollitia cum dolore. Ut dolorum laborum explicabo excepturi ut culpa. Laudantium sit amet non aperiam. Nisi sequi possimus dolor est ad non quia.
Ullam atque et aut ex quia totam dolores. Voluptatibus et et nisi repudiandae eveniet sit. Doloribus rerum corrupti sed et quisquam vel. Deleniti atque ipsam velit repudiandae.
Voluptas et cum aut saepe quisquam error vel doloribus. Et qui laborum in.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...