Do most appraisers have their own businesses or do they work for someone else? The guy that we used at the bank that I worked at had his own business and basically just worked whenever he wanted to. I am not sure that I want all of the hassle of running a business though. What are your thoughts?

Do most appraisers have their own businesses or do they work for someone else? The guy that we used at the bank that I worked at had his own business and basically just worked whenever he wanted to. I am not sure that I want all of the hassle of running a business though. What are your thoughts?

Grasshopper....The answer lies within......

For the most part, there appears to be limited or no job security in the appraisal business in any capacity. Big lenders will often toss their appraisal staff out the door in a heartbeat as the result of one of their frequent mergers or when business slows. Split fee work or operating your own business is no picnic, but at least you have a little more control of your life.

I have worked for another company and for myself. There are benefits and drawbacks of both.

Benefits to working for another company is not worrying about the bills: software, mls, rent, etc, as well as not having to market yourself, guaranteed to get paid for work completed, having a middle person (secretaries/firm owner's) as a buffer between you and clients, and others reviewing your reports for quality and accuracy. The main drawback is splitting the fee and clients belong to the company.

Benefits to working on your own include making your own schedule and keeping the entire fee. Drawbacks include paying the bills and not having another eye to look over reports.