Looking to switch career paths and do real estate appraisal?

Question

Hi, I was wondering if anyone could assist me in getting on track to a career in real estate appraisal. I currently work in corporate finance for BMG in New York City.

Please feel free to send me a message to discuss this, or request my resume.

Look forward to hearing from anyone who could help.

Thanks

Answer 1

Don't listen to business creature, you *don't* need to become a real estate agent to become an appraiser. They're two separate fields and each has their own license. You do not need one license to get the other.

If you're considering becoming an appraiser, you'll want to:

1) Identify which license level you want to go for. New York state has three license levels:

- State Licensed RE appraisers can appraise any non-complex 1-4 unit residential properties with a transaction value of less than $1,000,000.

- State Certified Residential Appraisers can appraise any residential properties, regardless of transaction value.

- State Certified General Appraisers can appraise any property type.

You may want to seriously consider Bound2Sucess's recommendation to look into commerical appraisal (which would require a certified general license). It requires more education and experience (so, there are less commercial appraisers to compete with) and you aren't limited to appraising only one property type (so if the market slows for one property type, you can appraise another property type).

2) Become familiar with the education and experience requirements for the license level you want to obtain. You can find more information for licensure requirements at http://www.dos.state.ny.us/lcns/reafaqs.html.

You should be aware that the education requirements for all license levels will be increasing *nationwide* effective January 1, 2008. For more information, I highly urge you to visit http://www.appraisalfoundation.com/

3) Work on obtaining the necessary education and experience (which will require finding a mentor). You will want to start looking for a mentor early. NY requires anywhere between 2,000-3,000 hours of experience (over a minimum of 24-30 months)...depending on license level. Most appraisers that I know say that this is by far the hardest part of getting their license. It takes a lot of time and energy to train someone to be an appraiser and the mentor can sometimes loose money on the endeavor. Many licensed appraisers out there are either unwilling or incapable of the task. You'll want to send out letters and resumes to licensed appraisers in your area and may want to try focusing on appraisal firms versus appraisers who work solo (companies are more likely to take on trainees).

Best of luck!

Answer 2

Test your water in commercial real estates first, it's a less competitive field with more opportunity.

Don't go into the residential condominium market in NYC anymore, it's just way too much people in that field and only the best of the best are making money.

Answer 3

Yes, they are the result of exploitative, union busting capitalism, as well as refusal to recognize the truth of global warming. They are greedy and don't care about the average person Hope this helps

Answer 4

try being a realestate agent for two years wich is the minimum for a appraiser in most states.