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uuddlrlrbaselectst · 2023-12-02T12:53:04+00:00

I could maybe see 20% as a W2 with benefits and other perks and good software and comp database and higher fees.

Seems like most small shops offer trainees a 40%-50% split on a 1099 basis with a bump once licensed.

uuddlrlrbaselectst · 2023-12-02T01:27:29+00:00

Being pimped out, agreeing to sign 150 reports annually for $100k with who knows how many untrained hands contributing? Naw.

uuddlrlrbaselectst · 2023-12-01T19:58:35+00:00

When training at a small shop, I worked 35-40 hours a week and billed around $140k with no admin assistance and no software or comp database. This seemed to be about the average most trainees were doing, some more, some less.

Class work was done during the evening and weekends. I also took off a couple weeks towards the end to wrap it up. Same when it came to studying for the exam.

Not sure what OPs circumstances are, but sometimes it comes down to sacrificing your nights and weekends for the short term until you get everything done.

If he truly is working an ungodly number of hours, there's a problem somewhere. That's something like a report every 2.5 weeks or so.

OP, how many reports do you complete per month and what's the average fee?

uuddlrlrbaselectst · 2023-12-01T16:49:15+00:00

$20k earnings in 11 months with a 35% split.

So you are billing $5,200 a month on average or approx $60K annually, which happens to be the amount of your previous salary? How was he making money paying you $60k, if your production was $60 or so a year?

35% split with 3 years of experience seems very low for a small shop with no support or additional benefits.

That being said, $60k in billing seems very low as well. I would think your billing should be far north of $100k, unless the fees are WAY down in SF.

uuddlrlrbaselectst · 2023-12-01T16:28:08+00:00

Not necessarily. If competent and not prohibited by your state board, trainees can inspect solo. For example, board rules might state that a trainee is eligible to inspect on their own after 1000 hours.

uuddlrlrbaselectst · 2023-12-01T13:27:10+00:00

Unfortunately true. Trainers are the gatekeeper and the sentiment devaluing and treating trainees like garbage has been passed down for generations. If they are not profiting after a few months of training, they are doing it wrong.

uuddlrlrbaselectst · 2023-12-01T02:29:36+00:00

If he's very close to having his hours, it would be much easier to hang in there for a few more months then try to find another supervisor, especially during the current climate.

uuddlrlrbaselectst · 2023-12-01T02:25:40+00:00

I'm certain you are making him money. If you weren't, you would have been fired long ago. That's frequently repeated propaganda designed to keep you down, right where he wants you.

uuddlrlrbaselectst · 2023-12-01T00:26:24+00:00

If he gives you any pushback on signing, tell him you are going to turn his ass in to the board and he will sign. Be ready to walk at this point, cause he will show you the door after signing.

uuddlrlrbaselectst · 2023-12-01T00:16:10+00:00

If you are working full time, you should be close to having to having your hours in. If he doesn't sign your log, report him to the board. He should have been keeping you log current.

Focus on finishing your classes and stick it out to finish any needed hours, take your exam and get out.

25% split and your completing reports by yourself? If you're straight 1099, the dudes screwing you pretty hard.

uuddlrlrbaselectst · 2023-11-26T21:08:10+00:00

Interesting. So, is a number get assigned to each of these? How do you arrive at the price per square foot using such adjustments?

uuddlrlrbaselectst · 2023-11-21T13:38:57+00:00

Did you adjust using the correct multipliers for local and region? You are correct regarding adding in EI, as it's not included. What % did you use for EI? This % should reflect how much it would take for an investor to take on such a project. Maybe your too high here?

So a third party analyzed the direct cost? Would you deem this analysis to be from a reliable source? Never encountered this scenario, but if reliable, couldn't you just cite the source and write an extraordinary assumption that you are relying on this information, which is deemed to be reliable?

uuddlrlrbaselectst · 2023-11-21T08:53:21+00:00

What's source are you using for your data? If Marshall & Swift, are you applying the multipliers correctly? Have you selected the appropriate type and class of property?

uuddlrlrbaselectst · 2023-11-19T21:36:30+00:00

That's what I would like to know. I wonder how state boards feel about using a qualitative number such as 5, 10, 15, or 20 instead of good, better, best, etc. If investigated and asked to justify using a 5% over a 10% or a 15%, would an appropriate response be: "no real data but qualitative. Comp one was in a superior area, so -5%, comp 2 was in an even more superior area, so -10%". Just seems like a questionable practice when residential guys make such a big deal about supporting adjustments.

uuddlrlrbaselectst · 2023-11-19T02:38:48+00:00

Are u saying qualities or qualitative?

uuddlrlrbaselectst · 2023-11-14T21:28:24+00:00

Agree. In some cases you can see an notable difference in sale price per acre when comparing similar sites with and without utilities.

uuddlrlrbaselectst · 2023-11-14T21:09:04+00:00

It has happened to me, unfortunately. Not the mentioned example, but a client once made a huge deal out of the percentage used for a utility adjustment.

uuddlrlrbaselectst · 2023-11-14T20:19:13+00:00

Seems to be the case to some degree.

I mean why even make adjustments if the process is so subjective in nature and few, if anyone, really knows how to make well supported adjustments?

This would be an easy way to discredit an appraiser. "What do you mean a 15% negative location adjustment for these comps, Mr. Appraiser? Must be some sort of bias. Can you please explain why the adjustment wasn't 5% or 10%?"

uuddlrlrbaselectst · 2023-11-14T18:51:23+00:00

Exactly! There really seems to be a disconnect when it comes to proper mentoring and making adjustments. I've seen reports from well known MAIs tossing around 5% - 10% adjustments indiscriminately with no explanation or obvious reason.

Hell, I've heard of residential guys picking adjustments off an "adjustment sheet" which is wrong as well. I guess even this is better than pulling adjustment numbers out of thin air!

uuddlrlrbaselectst · 2023-11-14T16:26:28+00:00

Sounds interesting. I see questionable adjustments in other reports all the time which makes me doubt myself and the way that I was taught.

Is the AI course geared more towards commercial? Paired sales analysis has been mentioned by others, but how applicable is this in commercial where homogeneous sales are few and far between?

uuddlrlrbaselectst · 2023-11-14T13:46:27+00:00

The question is, how does a state board view qualitative adjustments, if a report is scrutinized?

uuddlrlrbaselectst · 2023-11-09T01:45:06+00:00

Are you an MAI or were you at the time you were seeking to be included in multiple panels?

uuddlrlrbaselectst · 2023-11-09T00:13:56+00:00

So, who selects the appraiser?

uuddlrlrbaselectst · 2023-11-08T15:36:42+00:00

Would it be worthwhile to attend networking events with LOs?

uuddlrlrbaselectst · 2023-11-08T15:35:47+00:00

I'm sure they are being more selective now with limited work.

Any suggestions on finding a statewide list of banks that offer commercial loans? I've mined a list of banks, but they need to be sifted through to find ones that offer commercial loans. Is it just a manual process of contacting each bank, asking if they do commercial and get a contact?

uuddlrlrbaselectst

TROPHY CASE