Being an appraiser vs being an agent

4 Replies

I'm looking for anyone who has experience as an appraiser. I have heard from and know several agents, but I want to hear from an appraisers point of view. 

I'm torn on getting my agents license or becoming an appraiser. All advice and input is welcome!! 

I'm a residential appraiser. My comments are re: a normal house, condo, 2-4 unit.

Appraiser is providing an unbiased opinion or estimate of market value for their client, usually the bank. Not you. Unloess you hired them.

Agent has a fiduciary responsiblity to their client, the seller or buyer. Hopefully they do not rep both,  it is or at least can be a conflict of interest.

Building inspector looks at the physical structure. Is it safe, sound secure etc? What repairs may it need now or soon? This is usually for the buyer.

Appraiser, inspector, agent. All different jobs. Don't mind FHA or VA who try to muck up appraisers with inspector work.

Originally posted by @Lee Bell :

I'm a residential appraiser. My comments are re: a normal house, condo, 2-4 unit.

Appraiser is providing an unbiased opinion or estimate of market value for their client, usually the bank. Not you. Unloess you hired them.

Agent has a fiduciary responsiblity to their client, the seller or buyer. Hopefully they do not rep both,  it is or at least can be a conflict of interest.

Building inspector looks at the physical structure. Is it safe, sound secure etc? What repairs may it need now or soon? This is usually for the buyer.

Appraiser, inspector, agent. All different jobs. Don't mind FHA or VA who try to muck up appraisers with inspector work.

Do you enjoy your work as an appraiser? Do you find it fulfilling? 

The work is interesting. But, it is cyclical, it is a shrinking business, especially on the residential side. I hate to say I would not recommend trying to get into the business. I say trying, because unless you know someone it is very difficult to get started.

I am a real estate appraiser in Utah and it is a great industry to be in.  There is a vast difference between appraisers and sales agents.  Appraisers deal with data and detail, where as, agents deal with marketing and people.  There is obviously an overlap but for the most part if you are data driven and more introverted appraising is better.  If you are more extroverted and people driven sales agent may be a better option.  

The biggest obstacle in becoming an appraiser is finding someone willing to supervise you, where as an agent does not has this requirement. 

No matter how you cut it sales agents and appraisers are in a cyclical business with numerous ups and downs as well as external threats from AI and other technology advancements. Therefore, no matter which field you get into look to be on the cutting edge and keep up on education as well as many income streams as possible.

Good luck and best wishes!

DM me if you would like to talk or have more specific questions.