Monday, July 8, 2013

Appraising The Situation - Part 2

1.

Supervisors 

So the appraisal industry sounds like something you would like to get more information on, where do you go now? Well, the first place is start talking to appraisers who able to take on apprentices.

 The supervisor’s job is to continue your training once you have completed your entry-level training and exam. They will be with you on your first inspections, guide you through the valuation process, help you complete your reports, and hopefully teach you how to be a professional in the field and in the office.

You should interview several appraisers in areas in which you will consider working. The interview process will be educational in and of itself because it will expose you to a variety of office policies and supervisor styles. Be sure to ask about goals; employment contracts; who pays for resources, errors & omission (E&O) insurance, highs and lows of the work cycle; equipment; weekly meetings; if your work is provided by the supervisor or if you must come up with your own work; coverage area; access to work files; pay; and how termination will be handled. I must warn you at this point, that finding a supervisor may be harder than it sounds.

I have heard several appraisers say, “Why would I want to train my future competition?” which is a valid point. Many appraisers get comfortable working in a specific area and have a small customer base. The amount of work that these appraisers typically get would be diminished if a new appraiser suddenly shows up in their market. My suggestion to this situation is simple: don’t seriously talk to these about a supervisor role.

Instead, look for an active appraiser that is fixing to retire. There are two advantages to this. First, they are more willing to pass along what they have learned to a trainee. Second, they have a huge amount of experience in which you can learn from.

 Licensing 

So you have talked to a couple appraisers, some may have been open to your proposal, some may have said, “Come back after you have your license and then we’ll talk.” You have now come to a point in the road where you will have to invest in your future. Most supervisors will ask you to pay for your own training, but they might point you to an education provider. I won’t be suggesting education providers here, but keep in mind that most states have some type of core class that you can take in a matter of a few weeks. The alternative is to take the classes over a long period of time.

These classes will introduce you to the basis of the appraisal industry. Some of the topics that are covered are the origin of property rights, types of valuation methods, finance, technical writing, and much more. Once you have completed your entry-level training and passed the associate level exam, you are now ready to get into the field with your supervisor. According to the Appraisal Qualifications Board (AQB), a residential trainee must have 200 hours of appraisal education, and 2500 hours of related work experience under a supervisor(s) before you take your certification exam. Your entry-level exam from your education provider, the associate level, and the certification level are the three exams you will have to take to become a full-fledged appraiser.

1. http://www.modernmanagers.com/Portals/2/iStock_000003537496Small[1].jpg

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