In Chicago too, the agents don’t charge for CMA. I hope they start charging for that because we are spending our time for their benefit. But as Anna said, if I say no to a free CMA, they can get a free one from 10 other agents.
I don’t do FSBO that much, but I do farm my subdivision and another one where I used to live before. What do you think of farming?
“But as Anna said, if I say no to a free CMA, they can get a free one from 10 other agents.”
You get to a place in your career where you feel comfortable saying, “let them get their CMA’s somewhere else.”
That’s not meant to be arrogant. It simply means I no longer have to give my time away in hopes of getting a listing.
I list only occasionally anyway, and often earn my living as a Consultant. Our clientele is willing to pay for our time, they value our time, and they don’t (typically) bicker over our commissions (they understand we’re worth every penny).
Some colleagues of ours signed up w/one of these DOT.CON valuation sites. It cost them $3,000 & one told us after 120 FREE CMA’s…he just had to call it quits (I’m a faster study than that).
Also, my background is rather unique…you don’t often run across an Associate Broker who’s also a State Certified Appraiser. I’ve valued some 4500 properties over 16 years now, and was rated the highest in my states largest counties for accuracy appraising foreclosed properties. That’s to say I was compared in the markeplace with my competitors & had the highest score of the three highest rated (I’m proud of that fact).
-Infowell
I’m flattered that you are quoting me. I think you guys are extremely lucky that you are able to make some side money doing this, and you are all WORTH it. I am getting extremely disgusted here in CT. People are just stupid.
I am thinking of getting my appraisal license and selling real estate on referral. Has anyone been an appraiser? I am trying to get all the background on it.
Anna
Hi Anna!
Thanks for the PM…I’ll answer your question here regarding appraising.
I transitioned from appraising to real estate after more than a decade in the business. I felt the earning potential (hope for future achievement) was greater in real estate than appraising, and I was right!
However, everyone’s situation is different. I found appraising much easier (in some ways) to break into than real estate. It is quite difficult to get your foot in the door as an appraiser (just be persistant…took me 9 months). Also, you tend to get paid a lot quicker than in real estate.
I use to advise against getting into appraising, but I’m willing to rethink that advice. The reason; Appraisers haven’t seen much in the way of cost of living increases since the early ‘90’s.’ There’s been a glut of Appraiser Trainees in past years & Automated Value Models (AVM’s) have taken a big bite out of appraisal orders. The rising DeMinimus has further choked off the need for appraisers.
However, many states are limiting the number of trainees a state certified/licensed Appraiser can oversee (typically 2-4 trainee limit–state dependent–last I looked), and scuttlebutt is–soon an AA Degree maybe required to become State Certified (Licensing will be done away with in the near future).
Trainee limits should go a long way to improving the profession, and if college degrees are required…it’ll limit even further the number of people who can call themselves Appraisers. This should result in better fees for those who can make a go in the business.
There’s Pro’s & Con’s to any business. The last two years I appraised…I refused ANY work for mortgage loan purposes. Lender pressure to ‘hit the number’ increased to unreasonable levels over the years, and we supported ourselves by appraising primarily foreclosures, with a smattering of REO’s, divorce, probate, consultant assignments, FSBO’s, PMI, and the like.
Perhaps with trainee limits, college degrees, the market slowing, and Loan Officers dropping like flies…pressure on appraisers to ‘hit the number,’ or hit the road will dissipate (Google Appraisers Forum–an online petition exist signed by nearly 10% of Appraisers nationwide…some 9,000 people to stop lender pressure on Appraisers).
Best of luck,
-Infowell
Anna,
Please define “northwest CT”…
Keith
The Northwest part of the state of CT. New Milford, Danbury, Upper Litchfield County as well as Lower Litchfield County.
now that’s funny /////////\ 
No offense, Anna but Danbury and New Milford are in the southwest part of the state…
I was just curious, though…My brother is in the Salisbury area…
Keith
Danbury area is Upper Fairfield County. New Milford is in the lower Litchfield area. I had said I work in the lower litchfield area. Greenwich, Wilton etc. are lower part of the state.
HI Everyone
I am a Realtor too.
Bought talking house, never worked right, system kept going off or recorded message dissapeared (and yes, I took the key out). Sent it back!
Instead of marketing to homeowners, market to get investor clients. I work exclusively with investors. If you are a Realtor and investor, you have a knowledge 99.9% of Realtors don’t have. Investors are your clients!
Jan
keith,
would you kindly post your previous trailer that quoted norman schwartzkopf about the french and the accordion. i was laughing with my brother, a navy intel officer, about that but couldn’t get it right and couldn’t find on google.
thanks,
wendy