My wife and I are in the beginning stages of organizing our real estate business. Would you recommend my wife becoming an agent or appraiser? Is one more beneficial to building a investment portfolio?
Both jobs are beneficial for investors. However becoming an appraiser will take a lot longer. You need to do an apprenticeship under another appraiser. I'm not sure if it's different from state to state but 100's if not 1,000's of hours are required. And obviously testing on top of that.
Unless you're an MAI ( able to appraise commercial ) pay isn't as good as a realtor per deal. But you can probably do a lot more appraisals.
This isn't my area of expertise but my best friend is an MAI appraiser so I know basic items.
I hope this helps and have a great day?
It depends on what you intend to do with your fledgling real estate business. If you plan on buying and selling a lot of properties than I'd say become a realtor. In more than one of the flips I did last year, most of the profit came from commissions my wife contributed as our realtor.
Welcome to BP.
I am an Illinois real estate managing broker. I am interested in acquiring appraisal license as well. If you get both licenses, you will be much better especially when investing in real estate.
Just like real estate license, you will have to take classes and pass exam for appraisal license. You could make anywhere $250 - $550 as a residential appraiser and $1000 or more as a commercial appraiser.
Hope it helps.
Thanks for the feedback. My wife begins her real estate courses next week!!
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