Why become an appraiser?
The life of a real estate appraiser is very interesting. It’s a blended skills set of entrepreneur, sales and analyst. Appraisers are busy-bodies, knocking out prep work, handling phone calls from clients and lender’s, scheduling and executing the inspection, writing their report, picking comps, determining what’s relevant what’s not and the list goes on. It’s a very exciting and challenging profession. But in recent years, the number of certified appraisers has drastically decreased, and in an industry where the average age of an appraiser is 52, the long term job outlook for young appraisers is one of opportunity.
Growing need for skilled appraisers due to lender demands
- As the regulations levied on lenders are increased, in addition to the scrutiny of the accuracy of documents, they will pass the bill to the appraiser, demanding quicker turn times and more accurate documents. For the detail oriented and skilled appraisers, that means more work, more orders and of course more money!
Decrease in competition appraiser numbers
- The number of appraisers decreased 2.6 percent per year over the last six years. The most alarming statistic of all is that the average age of an appraiser is 52. Many suspect a sharp decrease in the amount of appraisers will occur over the next five to ten years, due to retirements, a reduced number of new appraisers, economic factors and a greater use of data analysis technologies.
- Who doesn’t like making their own schedule? With the introduction of mobile technology and portable computers, tablets, and other devices, the appraiser can take their office tools on the road, which adds to schedule flexibility and agility.
- Every property is different. Each home has unique quirks, and every inspection is its own puzzle.
It’s difficult to assess properties that look like this.
When the neighboring properties all look like this.
If you think about it, each inspection, each appraisal, is an interesting project that is different than the last.