Currently a junior appraiser at a large shop (CBRE, CW, JLL) in a major market (NY, LA, Chicago, Miami) for a little over a year now. Never was a long term goal to stay with appraisal but figured it was great exposure to all asset types directly out of undergrad. I am now getting to the point of looking to move on, potentially to Capital Markets side as an analyst for debt/equity or IS. Also open to the asset management and acquisition side. What are some of the best ways to enhance my skills (particularly excel) to prepare myself for potential interviews and modeling tests? Also, what is the best way to seek a new position of this type? (cold emails, networking events?) Anyone with experience in appraisal move to a new role? If so, what?
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I started in appraisal right after UG then made the move to JLL/CBRE asset management --> boutique debt fund. PM me if you want and I can run it down for you.
When I was in CMBS we had an appraiser join our originations team as a junior guy.
This move is a lot more common than I originally thought.
Close friend of mine jumped from appraisal to PGIM.
I did appraisal's at a large shop like this for a little over a year and just got an offer in acquisitions. Appraisals teaches you a lot but fuck is it boring and repetitive.
I came from an investment consulting background (alternative asset research) and wanted to move into CRE asap. If I could do it again i would have waited a little longer and tried to get into acquisitions directly but it is a decent stepping stone for CRE.
Feel free to pm with any questions if you want. Just start networking and the move shouldn't be too difficult.
Appraisal teaches you a lot about the qualitative aspects and terms. However, it's very different in the way you look at RE from an equity partner/lender. Just network and tell a good story.
Not sure about your market, but I feel like not a lot of firms are hiring right now and there are too many candidates with acq./am/lending exp.
I actually went a similar route, but when I started looking to leave it was about a year before I could get my CG. Figured that I shouldn't waste the education/experience so I stuck it out, got certified and almost immediately got an offer on the banking side. If your current plan doesn't work out, keep the client side in mind - for the most part it's better than the fee side. The CG opens up more doors though.
So my advice is either leave as soon as possible or try to get certified if you end up staying put for a while.
By CG I assume you mean Certified General? I'm a year in and about halfway in terms of hours/education. Did you find any AI education to be beneficial for resume/experience when looking for new positions? I am currently debating General Income II but would mean spending a week in Boston in February.
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