I have an interview for a real estate appraising internship this afternoon. I have a general interest in investment banking and am curious if this is a worthwhile opportunity? Will the skills I learn as an appraiser be valuable later?
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As an appraiser you going to get you hands on a ton of information on a ton of different types of properties. Its generally boring, underappreciated work but if you are interested in real estate there are few better internships that will get you exposure to as much information.
That being said if you have interest in investment banking this will not be relatable in any way and probably will not help that much.
100% agree with SHB
That is a fantastic internship for aspiring real estate people. Boring as hell but you'd learn a lot and it'll set you ahead of the pack.
That said, if you're interested in banking, I don't know why you even applied.
CRE appraisal field is a great entry point for learning the basic foundation and theory behind investment real estate. From market analysis, highest and best use to discounted cash flow analysis you will understand investments from a valuation perspective. However, the industry undervalues appraisers and is reflected by fees that really have not even kept up with inflation. The knowledge gained may provide other avenues such as Asset Management. Also, if you consider more lucrative careers you may consider business valuations involving closely held companies such as private REIT's. If you determine a career in real estate appraisal, I recommend pursuing the MAI designation, and the RICS which is globally recognized. If you decide a career in valuing private-held companies the ASA designation is well recognized. Valuation weather real property or business is more recession proof compared to other related real estate industries.
Good luck!
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