It would likely come as no surprise to most appraisers at this point that with the changing demographics and aging of the valuation profession, attracting the next generation remains crucial to the future. With the many opportunities for employment and continued growth, the benefits for those considering pursuing an appraisal career are clear.
A Day in the Life of a Real Estate Appraiser
An appraisal career can offer many benefits to young professionals, and there’s never been a better time to consider a career as a real estate appraiser. While many job-seekers may not realize the abundant opportunities the valuation profession can offer, even fewer fully understand what an appraiser does day to day.
Is Now the Time to Start an Appraisal Career?
For students who are approaching college graduation, or those who have recently finished their university careers, the future can hold many unanswered questions. While many struggle to find jobs related to their degrees, a good deal of those who secure employment will do so at the price of lower-level and lower-paid positions.
While many young students may enter the academic world with an idea of what they’d like to do after they graduate, there is an array of less obvious career options they likely haven’t even considered – including the valuation profession. [Read more…]
Recruiting the Next Generation of Real Estate Appraisers
With more than half of appraisers in the U.S. age 51-65 and nearing retirement, the aging of appraisers presents both a challenge and an opportunity for the valuation profession. Because nearly 54 percent of college graduates are unsure of next steps, college students represent a virtually untapped resource for the next generation of real estate appraisers.
In 2011, Inc. Magazine named real estate appraisal as one of six “top performing industries,” due to the demand as well as the housing market’s recovery, stating that the appraisal profession should be the first to reap the benefits. It also noted revenue and employment growth of nearly 9 percent and 4 percent, respectively, and low barriers to entry.
Key growth markets could include working with accountants, financial analysts, investors and others on real estate portfolio management/analysis, purchase, lease and investment packaging. Additional areas of real estate valuation such as right of way, conservation easement, taxation issues and litigation support (expert witness) also could provide opportunities for professionals looking to get into the appraisal business. [Read more…]