Why Now is the Perfect Time to Begin a Career as an Appraiser

How the great resignation is creating new job opportunities around the world.

By: ASA CEO, Johnnie White

Many may not understand the appraisal profession, or even the fact that there are multiple disciplines within it, but what people should know are the new opportunities being created by the “great resignation,” as a result of the global pandemic and economy to start a new career.

First, the “Great Resignation is Real.”

According to a recent global workforce survey from PwC:

• Millions of people around the world are rethinking how they work and live. One in five workers are likely to seek new jobs in the next year.
• Millennials and Gen Z (age 41 and under) comprise the largest groups likely to switch to a new employer.
• A desire for higher pay (71%), wanting a fulfilling job (69%), wanting to truly be themselves at work (66%) and being able to choose where they work (47%) were the main drivers for those seeking new roles.
• 77% are ready to learn new skills or completely retrain and 74% see training as a matter of personal responsibility.

The appraisal profession around the world offers an opportunity to be self-employed with a steady stream of business and the opportunity to work as many or as few hours as desired. The global economy is driving a need for more appraisers as more people are buying and selling homes, reevaluating their lifestyle and their businesses, and perhaps seeking to uncover the value in items that they own.

So, What Does an Appraiser Do?

Simply put, an appraiser is someone who objectively determines the value of something – real estate, equipment, jewelry, artwork. Appraisals are used not only for sales transactions, but for a host of purposes including insurance purposes, legal issues, and accounting.

Appraisal as a career could center around any of several disciplines: real property, machinery & technical specialties, gems & jewelry, personal property, business valuation and appraisal review.

• Real property appraisal encompasses the valuation of all types of residential, commercial, or agricultural real estate. A real property appraiser develops and reports an opinion of the value on land and building assets on that land.
• A machinery & technical specialties appraiser develops and reports an opinion of value on assets such as aircraft, marine, mines/quarries, oil/gas, public utilities machinery & equipment.
• A gems & jewelry appraiser develops and reports an opinion of value on assets such as diamonds, gemstones, chains, coins, jewelry, watches. Gems & jewelry appraisals assist with estate tax/liquidations; insurance purposes; loan underwriting, and expert witness testimony.
• A personal property appraiser develops and reports an opinion of value on assets such as antiques, collectables, decorative/fine art, vintage cars and more. Personal property appraisals are done for estate tax/liquidations; insurance purposes; loan underwriting; expert witness testimony; auction services; and others.
• A business appraiser develops and reports an opinion of value on assets related to the whole business or company unit including intangible assets. Business valuations are done for many reasons, among them including gift and estate taxation and planning; opinions for mergers and acquisitions, divestitures, and recapitalizations; financial opinions for litigation matters; transfer pricing engagements to provide clients with operations overseas inoculation against audit risk; financial opinions for exit strategy planning and retirement.
• An appraisal reviewer is a professional who develops and communicates an opinion about the quality of another appraiser’s work. Appraisal reviews offer second opinions as a prudent business practice; a tool to measure credibility; to reinforce a client’s confidence; risk management; litigation/dispute resolution; a resource for clients with little knowledge or internal capabilities.

So How Does One Become an Appraiser?

Designations such as the Accredited Senior Appraiser (ASA) provide a road map to begin a career as an appraiser and communicate expertise and credibility, as well as garner recognition and respect around the world.

When an appraiser joins ASA, they come in as an applicant. When applicants have passed the online ethics examination and a 15-hour training course and exam, they become Candidates. Once Candidates have fulfilled the appraisal education and testing requirements, they may apply for a designation and become part of a distinguished international network of fellow valuers.

Appraisal offers everything workers today are looking for in a career, remote work, flexible hours, and autonomy. In many cases, the role of an appraiser is to tell a story – of a piece of artwork, a company, a person’s life.

And in other cases, appraisers have an important role to play in determining the outcome of lawsuits, establishing inheritances and in making an important impact on people’s lives.

Considering a new career as an appraiser? Start your path with ASA today! Visit www.appraisers.org/join or contact ASA at asainfo@appraisers.org or (800) 272-8258.

Johnnie White, Chief Executive Officer/Executive Vice President, of the American Society of Appraisers is an association professional with close to 30 years serving in a variety of management and leadership roles. In addition, White serves as an adjunct faculty member of Georgetown University and the Northern Virginia Community College. White holds his M.B.A. from University of Maryland University College. He has served in volunteer leadership roles for the American Society of Association Executives and the Professional Convention Management Association and has received numerous awards and recognitions for his association work. Connect online with Johnnie at ASA, Twitter, Facebook and LinkedIn.