Where can I exit to with my background? (agency UW/appraisal)
Just curious - not looking to make any moves at the moment. Happy where I'm at. I went to a non-target but was able to break into CRE (low GPA too). I've done 2 years in SBL and conventional underwriting at a Lument/Berkadia/W&D firm. I switched to appraisal at a JLL/Apprise/Newmark type firm (doing all multifamily, very similar to the properties I was underwriting in my previous experience) because it was more interesting than the credit side of banking and did not want to move into production at the time, better pay, and for a very flexible WLB. Also the skillset I'm getting in appraisal is in my opinion much better than agency UW.
As mentioned, I don't want to make any moves now, but wondering with 2-3+ years of appraisal and with my previous experience, where could I exit to (besides the obvious Underwriter doing what I was doing before). Agency production, development, IS, acquisitions? Thanks in advance
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As long as you have the right technical skills, you can exit into anything else in this industry imo. I started out in agency and moved into REPE/Dev after 2 years.
Thanks! Just hoping the move to appraisal doesn't backfire on me and makes it harder to move into something else if I wanted
Bump - wouldn't hurt for a few more opinions. Thanks
You can still lateral to whatever you want, just keep your technical skills sharp and network. Your most logical next step if you want to try something new would probably be multifamily investment sales (maybe just move internally at your current shop?) but with good networking you could probably do whatever.
The longer you wait the more likely you'll have to "downgrade" in order to make a change, i.e. let's say you decide you really want to get into retail asset management or office acquisitions in a few years, you might have to take a more entry level role as a ~27 year old, and will probably have to focus on smaller/regional/lesser known shops that are more open to hiring candidates with alternative backgrounds.
If you end up enjoying appraisal and want a job with good long term WLB, its a great place to stay put (I know a few senior level appraisers at CBRE/JLL/CW and they have amazing WLB/flexible schedules).
Thanks - what kind of comp do you think your appraiser buddies are making? Realistically I would like to be making at least $200k, which is pretty much a sure thing from what I'm being told internally when speaking of future comp expectations, but can definitely see myself eventually wanting to be in the $300k-$500k range.
The ones who have chosen to work less / more flexible are definitely taking a pay cut to do it and I doubt they are making $200k. One of them only works like 20 hours a week though.
Try hard enough and you can do whatever you want
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