appraiser license useful?

Question

would you recommend getting an appraiser license, even if i dont plan on working as an appraiser. but rather apply the knowledge of the value of the house when looking for potential flips? obviously it would help, but is it worth it to get the license?

Alan Brymer · Answer

Double-NO.  Hire an appraiser when needed, which for me has been about once every 20 deals.

Jeffrey K. · Answer

If you want to be a REI, be a REI and stay away from licences.  A good rule of thumb for ALL licences is do NOT get it if you do not intend to practice that trade.  They force more oversight on you and create problems.  If you want to buy and hold property and your town offers a Landlord training program, take that and get certified.  It is worth the minimal time it takes, and some tenants like that.  You also could learn something.  I didnt learn much, but I met some people in government that I called the next week when I needed help.

Norm Chrostowski · Answer

Just as info. Getting an appraisers' license is a little more complicated than you think. There's schooling, and a lot of, it depending on what "level" you'd like to be at.

I can't remember all the details, as I've looked into this before, but it's more than putting a price on a house. The education was pretty time consuming, after that they want you working as an apprentice with a experienced appraiser for 2 years I believe. There was a lot involved. I think you'd be better off learning about REI right here.

Just my 2 cents.

Christian Malesic · Answer

NO.

The education and knowledge is well-worth the time, but the license is not.  You will not be permitted to appraise any property in which you are involved as an investor.

Thus, only seriously consider getting your license if you want to be an appraiser when you grow up.

Dick Green · Answer

When I first obtained my real estate license, I was sponsered by an appraiser and worked under her license for a couple of years.

Learning the methods and approaches used to determine value will definitely give you market edge.  Also you can obtain insider information performing BPO's for lien holders preparing to foreclose.