How to Increase Residential Appraisal Income

I decided to make the switch from appraising commercial properties back to residential properties in early 2008. To many this is appraisal suicide. However, the reason is simple- my wife became a state-registered trainee a few years ago, is serious about becoming Certified and needed my mentoring.

Since her knowledge of commercial appraising is limited, it seemed easier to go back to residential appraisals with her working along side me. While her knowledge of residential appraising is very strong, we set some ground rules first: every residential appraisal will be done by both of us as a team. It was understood going in that she would not inspect and write up appraisals on her own and that, therefore, our income will be that of one appraiser, not two.

Along with appraising commercial properties, part of my practice is also litigation work, primarily divorce appraisals for attorneys. I also did estate appraisals for attorneys and accountants. Primarily, however, the bulk of my practice was commercial appraisals. So the switch to residential appraising, at a time when many residential appraisers are slowing down or shutting down, was considered unthinkable by many.

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