Tired of competing with hybrid valuation products and dealing with low fees and unrealistic turn times? One solution may be to specialize in luxury real estate appraisal. We asked Jo Traut, appraisal curriculum and content specialist at McKissock Learning, to tell us all about the benefits of appraising luxury homes. Click the video below to get Traut’s insights into this exciting niche specialty.
“There has never been a more critical time for appraisers to specialize in appraising custom luxury homes.” – Jo Traut
Don’t have time to watch the video? Here are some quick takeaways so that you can get the gist (although you will get the most information and value from watching the full interview).
#1: Reasonable turn times and higher fees
Luxury appraisal assignments offer more realistic turn times and more reasonable fees compared to traditional residential appraisals. You’ll get to work with clients who understand the amount of work involved and have more realistic requirements. You don’t have to compete with hybrid valuation products in this market.
#2: Challenging and exciting assignments
Appraising luxury homes gives you the opportunity to take on appraisal assignments that are interesting, exciting, and challenging. It also gives you the chance to work with architects, custom luxury home builders, real estate agents, and even CEOs of major corporations.
#3: Phenomenal properties
Many real estate appraisers chose their career path because they love to look at houses. When appraising luxury homes, you get to walk through incredible properties with technology you’ve never seen before, high-end finishes, and phenomenal architectural detail.
It is a myth that you have to be in an area with sprawling mansions and estates to specialize in appraising luxury homes, says Traut. There are high-end properties throughout the country, and it’s a really good niche to get into.
Want to learn more? Download our free guide: Upgrade Your Career with Luxury Home Appraisals.