The Real Estate appraisal business really appealed to me some 13 years ago as a great home based business. And, yes it has been very good to me. Sure, it does potentially provide those things that a solid home based business should provide, a consistent income and scheduling flexibility, but along the way there are many potholes of which to be aware.

Initially, getting to the point where you can get work as an independent appraiser can be a long, frustrating and
expensive road. Education and training requirements have changed so now it is required that you have at minimum a 4 year degree to obtain the certification required to provide the most opportunity. Many currently certified appraiser’s have been “grandfathered” in with these recent changes, but anybody new to the profession will be required to have a 4 year degree.

Second, finding somebody to train and work with you over a period of at least two years can be trying. Many experienced appraisers refuse to train their replacements. The thinking is that once a trainee has completed the necessary training, education and testing, that they will then go out into that marketplace and instantly become the competition of the person or firm that trained them. Certainly this is a valid concern, and can cause headaches as your trying to get started in the business.

Lastly, over the past several months, the business has changed, and many long standing relationship between appraisers and banks and lenders have been dissolved with the introduction of the HVCC, and the following requirement that all conventional loans have appraisals ordered through appraisal management companies. What this has done is provide anybody with a certification to appraise an equal opportunity at the appraisal work available just by getting “signed up” with an AMC in your area. This can actually be a good thing for a new appraiser, as those long term relationships have been essentially ended.

Many long time appraisers have been forced from the profession with the changes in the process. If you can weather the challenges along the way, then certainly the appraisal profession can provide great opportunity for good income and scheduling flexibility. But, the path to those rewards can be very difficult and full of challenges.