If you’re growing tired of appraising simple properties or are looking for complex assignments with more income potential, upgrading your appraisal license is a good move. Here are 10 common reasons appraisers choose to upgrade.
1. Earn more. For each level you upgrade to, you’ll see your earnings increase. In a survey completed by McKissock, 72% of certified general appraisers earn more than $75,000 per year while just 47% of certified residential appraisers earn that level of income.
2. Enjoy more complex assignments. A license upgrade can add variety to your day with different types of properties and transaction limits.
3. Control your fees. Upgrading your license gives you an advantage in the local marketplace, and offers greater control over your fees and more stability in your work.
4. Expand your knowledge. The education process you’ll go through while upgrading can provide opportunities to explore ideas, methods and assignments you haven’t had the opportunity to master.
5. Grow your appraisal brand. An upgrade is an opportunity to take on new challenges, grow your portfolio, and ultimately, grow your brand and reputation in your community.
6. Uncover opportunities. Upgrading to a new license level can help you diversify your portfolio and uncover niches in appraisal you never knew existed.
7. Teach others. Upgrading your license provides a leadership opportunity and comfort in knowing you’re teaching the next generation of appraisers your superior skillset.
8. Get out of your rut. Learning new techniques through an appraisal license upgrade can be just the motivation you need to take on new assignments and get out of your day-to-day grind.
9. Because you want to. You have a desire to learn, to think critically and to accept the challenge.
10. Distance yourself from your competition. Of the 73,731 appraisers in the U.S., 31% of them are certified general. Upgrading to certified general will pull you into a pool of appraisers where you have less competition.
You have options when upgrading your appraisal license. Each level requires different skills and creates different opportunities. Learn more about continuing education, pre-licensing, and appraisal license upgrades.