Home > Blogs > Jenn Beilmann > Jenn's Blog

Real Estate Agents with Appraisal License?

By Jenn Beilmann

Real Estate Agent with Coldwell Banker Gundaker

February 28, 2008 04:01 AM

Hi Folks! I read an interesting article yesterday that talked about ways real estate agents can diversify to make more money in this tough market. One suggestion was to become a licensed appraiser. This idea intrigues me - has anyone done this? I'm thinking that this would add great credibility when I discuss pricing strategies with both buyers and sellers. And maybe I could get a few extra bucks on the side with appraisals for others.

What do you all think?

PS - This is my first blog on activerain, so forgive the lack of 'bells and whistles'. Someday I'll learn how to actually put a link in here so you can see the article for yourself!

Comments(10)

Comment

Show All Comments

Sort:

Jeff Kessler

Austin Homes, Realtors www.OwnAustin.com - Austin, TX

Broker,CLHMS,GRI

I wouldn't want to appraise the house I am selling, but how great would it be to your client when you show other homes. Just more knowledge.

Feb 28, 2008 04:14 AM

Jenn Beilmann

Coldwell Banker Gundaker - Mehlville, MO

St. Louis MO Realtor

Thanks, Jeff. So you wouldn't think that marketing appraisals to sellers is a good idea? I was thinking you could offer this service during a listing presentation ("If you list with me you will get a complimentary professional appraisal at no additional fee" or something like that). It would surely set you apart fro the other agents they are interviewing, no?

Feb 28, 2008 04:19 AM

Beverly Bayer

BAYER APPRAISALS - Moreno Valley, CA

There are eduction requirements to become an appraiser, a exam to pass and a period of training where all your work for federal transactions (most loans) needs to be co signed by a certified appraiser. The co signing appraiser has 100% responsibility for your work - and it takes lots of time to correctly train a new appraiser - thus it is difficult to find an appraiser mentor. And now most appraisers are low on work and do not have enought to divvy out to a trainee, and many clients will not accept appraisals done by trainee appraisers.

Beverly A. Bayer, SRA appraiser

Feb 28, 2008 04:30 AM

Jeff Kessler

Austin Homes, Realtors www.OwnAustin.com - Austin, TX

Broker,CLHMS,GRI

I think that still is too close for comfort to me. I would say I have experience and still give it out as a referral. People are too sue happy and I want to be in this business for a long time.

Feb 28, 2008 04:37 AM

DDR Realty

DDR Realty - Newburgh, NY

Orange County NY

Back in 1992, my first RE broker was also a certified licensed appraiser. So, it is not a totally new concept. With that said, I do think it would not only enhance your RE career but also provide additional income.

Feb 28, 2008 05:39 AM

Alisa McKeel Willson

Appraisal Pros in Texas - Huntsville, TX

Certified Res. Appraiser

Jenn, what Beverly says is true and another point to consider is the cost. Obtaining and maintaining an appraiser's license is expensive. We are required to have CE and update our license every two years in California.

Before investing in the required education I'd suggest calling around and finding a mentor first. I have heard of many appraiser trainees who went through the education and then could not find a mentor. Without a mentor it would be very hard to get started. If you decide to start the search for a mentor then look on your state's website. It is required that any mentor have at least a certified residential license to supervise trainees. Licensed only appraisers can not supervise trainees any longer.

On the other side of the coin, I think taking a basic course would be helpful..having more knowledge is always good. I took a Real Estate course in another lifetime to learn some of the basics before buying my first home.

Mar 02, 2008 11:17 AM

Jenn Beilmann

Coldwell Banker Gundaker - Mehlville, MO

St. Louis MO Realtor

Thank you all for your comments. I really appreciate the feedback. I do have a friend who has been a certified residential appraiser for several years so I do have a potential source for a mentor. I'll talk to him...

Have a great week everyone!

Mar 02, 2008 01:48 PM

Judy Greenberg

Compass - Long Grove, IL

Compass- Long Grove -Buffalo Grove

I think it is a great idea.... Also good luck in Active Rain.... you will learn so much. I wrote a post at the beginning of my affiliation with AR about my first 15 days and how much I learned. How to post pictures, etc. Have a good week.

Mar 02, 2008 10:18 PM

Patricia Kennedy

RLAH@properties - Washington, DC

Home in the Capital

Jenn, I took the courses, although I am not licensed. It's really helped me deal with appraisers in my transactions. I know exactly what they need and don't often have issues. I'd say go for it.

Mar 03, 2008 12:09 AM

Carole Cohen

Howard Hanna Cleveland City Office - Cleveland, OH

Realtor, ePRO

Hi Jenn, I lilke Patricia's response so I'll just say ditto about that. And welcome to AR. Seems to me you are already seeing the value of being here. There is so much expertise, I love asking questions and seeing what people have to say. I lived in St. Louis for a few years (a LONG time ago lol) -- you live in a great state! Looking forward to reading more of your posts!

Mar 03, 2008 02:07 AM