How many commercial real estate appraisers use this subreddit?
[deleted]
[{"id": "dx2m05v", "text": "I made an appraisal meme about a year ago, and it got about 47 upvotes, so I would say at least 50. \n\nAppraisers are super busy churning out $600 bank appraisals so they probably don\u2019t have as much time to lurk as the property managers. Hey o! ", "replies": [{"id": "dxb9v41", "text": "Is that all they are charging for commercial appraisals these days?", "replies": [{"id": "dxbcopf", "text": "They are probably more than that realistically, they do work really hard for what they do. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dx2oyan", "text": "I'm considered by some to be a niche appraiser (gas stations/convenience stores mostly).  I use this subreddit as a means of taking my head out of the ostrich hole.", "replies": [{"id": "dx2p40j", "text": "I keep hearing niche appraisers do very well. I just started out, and before I got into appraisal, I was told to run away from it, by multiple appraisers. ", "replies": [{"id": "dx2qf4k", "text": "Run away from a niche?  Or from appraisal in general?\n\nHonestly, if I ever become independently wealthy, I want to be an amusement park appraiser.  I'm currently doing 90% going concern work, so I feel the transition would be simple.  I just want to tell the park manager that a part of my inspection is a spin on every ride during a time the park is not open to the public.", "replies": [{"id": "dx2rb4w", "text": "Appraisal in general. I hear the niche market is the best place to be. ", "replies": [{"id": "dx376eo", "text": "If I ever get into appraising amusement parks, I'll be sure to call you for my Canada work!", "replies": [], "depth": 5}], "depth": 4}, {"id": "dx389r3", "text": "I just now discovered a niche that I would like to get into. Never would have thought of that on my own. Too bad I got to make a living. Haha ", "replies": [], "depth": 4}], "depth": 3}, {"id": "dx4tz9e", "text": "I keep hearing the same.  Gov work involved eminent domain/right of way and private litigation seem to be the two best.  Though you are going to be paid to testify in court so your resume needs to be pretty substantial to get into that (ie not entry level).", "replies": [], "depth": 3}], "depth": 2}, {"id": "dxb9z0w", "text": "I would love to see a gas station AMA. They are scary for the uninformed. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dx37b5j", "text": "But if There is a small fixed number of amusement parks, here in Ontario We\u2019ve got about 3. how does one make a living off of that in the long term ", "replies": [], "depth": 1}, {"id": "dx3lfrm", "text": "Seattle located here", "replies": [{"id": "dx3tbqz", "text": "Is your career still lucrative? Or have the regulations shat in your mouth ", "replies": [{"id": "dx3xick", "text": "After riding the recession I transitioned from fee work to government work. So my lucrativeness is limited but I see that as mostly being offset by rock solid job security and generous benefits. \n\nThat said I keep in touch with some former colleagues at my previous job and I know they\u2019ve been doing just fine since I left. There\u2019s been a crazy amount of new development in Seattle in recent years and my previous firm specialized in market &amp; feasibility studies for developers so that work wasn\u2019t really affected by new regs.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dx3qah6", "text": "I'm a commercial appraiser here. MAI designated. What's up?", "replies": [{"id": "dx3tacw", "text": "Is your career still lucrative? ", "replies": [{"id": "dx6heec", "text": "Lol with an MAI you can be an expert witness which depending on the size of the deal, I\u2019ve heard upwards of $100,000 for one case. Not to mention most Class A/B commercial bank jobs that pay like $6,000-$10,000 an appraisal", "replies": [{"id": "dx6xuzg", "text": "I\u2019ve never heard of 100k for 1 case that\u2019s ridiculous. ", "replies": [{"id": "dx6zou5", "text": "it was a huge lawsuit, it's not the standard, which I think is probably closer to $20-30k  Usually appraisals for litigation are a lot more work than a typical bank job.  Asset management appraisals probably bill the least per appraisal, but are lucrative due to updates.  There's not that much good info going on for appraisers, since it's a very niche part of the industry, so anything you see online, I'd take with a grain of salt.  Outside of your immediate coworkers and firm, there is no incentive to grow your profession, since the less appraisers, the less bidding down of appraisal fees goes on", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "dx6remp", "text": "I guess it depends on how you define lucrative. It's a pretty stable profession and your services will always be in need. It's also sort of recession proof - financial institutions always need appraisals, good times or bad. It's a steep learning curve. You're essentially someone's apprentice until you get your certified general, which is maybe 4 years on average. A general appraiser really works on all property types, so you have to be a very dynamic thinker. Once you're certified you can sign your own work, and you should be making six figures. MAI designated and many doors open. Hope that helps, sorry for the delay but I'm on vacation right now! Happy to answer more.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dx98bh2", "text": "Me! I'm on my path to get my MAI. I currently work in Chattanooga, TN.", "replies": [{"id": "dxa2tzb", "text": "It's a long path, I haven't worked long enough to even know if it was worth it.", "replies": [{"id": "dxap3y5", "text": "I know. I work at my dad's firm and he is in the process of retiring and I will take over with my cousin. My dad wants to wait until we get our MAI's until he totally phases out. So not much of a choice on my end..", "replies": [{"id": "dxb350c", "text": "Do you like the career so far? Seems unfair that you would be forced into", "replies": [{"id": "dxba6la", "text": "I do like it. It's been hard work and there's still more to come, but I made the choice to do it and to take it over, so I wasn't forced into it. I've come this far, I figure might as well get my MAI either way. We operate a family-run firm in Chattanooga and its very laid back. We are one of the biggest firms in town and real estate is booming, so it has proven to be lucrative. ", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dx9opxz", "text": "Commercial appraiser specialising in Hotels here... but not in the USA (Valuer is the job title here). Interesting to see that regulations have been tightening up all around the world - not just here. If anybody ever wants to chat about what it's like from a different part of the world etc. let me know. ", "replies": [{"id": "dxa2str", "text": "so are you employed? self-employed? on a fee-split? How much do you make per job in your country? I work in Canada.", "replies": [{"id": "dxa4deg", "text": "Yeah employed by one of the big corporates. Here you need a Property degree (essentially Bachelor of Commerce that is a major in property) and then can be employed as a Valuer/Appraiser before you sit exams etc. 3 years later to become a Registered Valuer.\n\nI'm essentially on a fee split - base salary of $70k plus 50% commission of whatever fees are written over $140k. The average job would be around $11,000 before sales tax is added. But for a general commercial valuer, a market appraisal for mortgage security purposes would usually range between $2-3k (for suburban factories/shops etc. in the $1m-$5m value range. Obviously these jobs are quicker turn around than what I do but eventual yearly remuneration would be circa $110k. \n\nWhat are the fee structures and salaries like in Canada? (Bear in mind I converted all these values to CAD for ease of comparison for you)\n\n", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dxa58x9", "text": "It is essentially the same, 2-5k for small business\u2019 so far that\u2019s all I\u2019ve done. 40% fee split. But I haven\u2019t worked a full salary yet, I\u2019m very new.  I\u2019m guessing you\u2019re from UK? We have a lot of things in common here, I believe we even share the same legal system. ", "replies": [{"id": "dxdnxme", "text": "I think this was a reply to me - but nah not from the UK - from New Zealand so it's relatively similar. \n\nWe still share the same legal system which has been passed down from the UK though. Fee split is pretty good to get if you're brand new and haven't gotten registered yet - here you progress from $35k-50k salary before you become registered and able to sign off by yourself. ", "replies": [], "depth": 2}], "depth": 1}]