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March 19, 2019
In a recent survey, active appraisers across the nation chimed in on where they see the greatest opportunities for newbies in the profession. They advise new appraisers to focus their professional efforts in the following four areas.
1. Seek out analytical opportunities and embrace technology
According to the 2019 Appraisal Income Guide, appraisers who excel at adopting new technologies earn over $44,000 more per year than appraisers who fail to leverage those tools.
2. Consider focusing on commercial, rural and agricultural opportunities
Certified general appraisers (a.k.a. commercial appraisers) have the highest income potential across license levels, with an average income of $91,574. As for rural and agricultural opportunities, check out our article on Farm Appraisal: A Profitable Yet Challenging Field.
3. Seek out non-lender work
Non-lender niche specialty areas like litigation support and divorce and estate appraisal can be very lucrative. However, it can be tricky to break into this type of work. Here’s some advice on How to Market Your Appraisal Services for Divorce and Estate Work. Other examples of non-lender work include ad valorem taxation appraisals and eminent domain appraisals. Get more info here.
Join us on Wednesday, March 20, 2019, at 11:00 am EST for a one-hour Pro-Series webinar: Litigation Support – Selected Concepts and Case Brief.
4. Consider supplementing with hybrid/desktop appraisals
Clients are increasingly asking for limited scope appraisals (a.k.a. hybrid/desktop appraisals). These assignments require a scope of work that is less than the traditional “full” appraisal, but they can be money-makers nonetheless.