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Mom of 2 · Nov 26, 2011, 02:45 PM

I was recently laid off and I read an article in Inc. that becoming a real estate appraiser is one of the up and coming jobs to get. Who would have thought that? However, with there being some many foreclosures, and so many more to follow, the article stated that there is a need for these jobs. Does anyone know how you can become one in Illinois?

JudyKayTee · Nov 26, 2011, 02:54 PM

Are you asking about being an independent appraiser or working for a company?

In my area they are licensed, bonded and insured. I work occasionally with appraisers on property damage claims and they all have four year degrees as well as an understanding of how the economy (in general, specifically regarding housing) operates.

Yes, they are paid well.

I believe any 4 year degree "works" because the various companies offer training. Do you have a four year degree?

Wondergirl · Nov 26, 2011, 03:03 PM

Judy, do you have to become a licensed r.e. salesperson first? Seems like my son had mentioned that long ago.

Fr_Chuck · Nov 26, 2011, 05:47 PM

Varies in states, here there is a separte appraisers license, study and take a test. But I may challenge the fact they say there is a big market for them, in foreclosures esp.

JudyKayTee · Nov 26, 2011, 06:24 PM

Originally Posted by Wondergirl

Judy, do you have to become a licensed r.e. salesperson first? Seems like my son had mentioned that long ago.

Not in NY - but now that you mention it it's a VERY good idea.

Mom of 2 · Nov 27, 2011, 02:33 AM

Yes, I have a 4-year degree. I guess I was asking about ANY situation, as I am ultimately interested in becoming an independent appraiser. However, I understand that working for a company may give me the hands on experience that is necessary to be successful in this area.

Thanks again to all who posted a reply. However, are there any actual appraisers out there who can give factual knowledge about the industry? It is great that there are so many people out there who want to help other people, but I'm looking for factual information and not about opinions that are just that, opinions and are not facts. I want to head in the right direction and see if this is a lucrative option to further investigate. I would hate to sign up for the courses, only to find out that I'm missing an important step.

JudyKayTee · Nov 27, 2011, 07:24 AM

If you want facts you need to speak to an appraiser concerning working in YOUR AREA. An appraiser outside your State and area would, likewise, be giving you opinions.

Here's a source - Appraisal Institute - Homepage - Real Estate Appraisers and Valuation Professionals

Mom of 2 · Nov 27, 2011, 01:05 PM

It is apparent that for some reason I have offended. As I stated before, I'm thankful for the opinions stated in the answers I received, but I was hoping that my question would somehow reach someone who specifically works in the area that I am interested. Then again, this is a general site and not specific to the industry. Thank you for the link to the Appraisal Institute, as this will most likely be very helpful.

Wondergirl · Nov 27, 2011, 01:15 PM

No, you haven't offended. This is a world-wide site, so, like Judy said, you have to begin asking questions in your area.

Like you, I am in Illinois, in the Chicago suburbs.

My first suggestion would be that you go over to your local library and talk with a reference librarian about this. They will have books in the 300s about the appraisal industry along with books on how to become one, what courses must be taken, what tests have to be passed, what licenses have to be applied for. The library will also have a current copy of the Occupational Outlook Handbook that will give you information on appraising as a career. (from the online version: Real Estate Appraisers AND Appraisers and Assessors of Real Estate -- or this: Real Estate Brokers and Agents)

I applaud you for wanting to get as much information as you can!

Mom of 2 · Nov 27, 2011, 02:40 PM

THANK YOU, THANK YOU, Wondergirl! That is all that I was asking. I didn't even know WHERE to start because the sites that I went to just listed courses and did not necessarily say how to START the process, etc. Pointing me in the right direction versus just giving an opinion when you are not sure of the specifics of the industry.

Wondergirl · Nov 27, 2011, 02:48 PM

Also, ask for a literature (article) search to come up with current articles to support or defeat that Inc. article. There's a database called FirstSearch that they (or you) can start with. Within that database there are all sorts of beginning points to identify books (WorldCat) and articles on appraisals and appraising.

Mom of 2 · Nov 27, 2011, 03:14 PM

Wow, Wondergirl, you are who you say you are!

Wondergirl · Nov 27, 2011, 03:29 PM

I'm Wondergirl because I wonder a lot -- along with the library patrons. I've worked in Chicago suburban libraries for 30 years.

Mom of 2 · Nov 28, 2011, 03:51 AM

@Wondergirl, How cute!

I don't know why I didn't think about this earlier, but I have a cousin who is a big time broker in the Chicago suburbs. I just sent off an email to him to find out what pointers he could give me. I literally POPPED out of bed when I thought of it. I will post what I am able to find out, just in case anyone else is looking for this information. I just like sharing the knowledge when I get it!

Wondergirl · Nov 28, 2011, 09:15 AM

I have two friends who have been r.e. salespeople for years (and have won awards). I can give them a call if you want me to.

This is what is fun, to share knowledge and to brainstorm together. That's when light bulbs go off.

Mom of 2 · Nov 28, 2011, 11:32 PM

@ Wondergirl, that would be great. Many thanks!