Florida real estate appraisers are generally paid well for their work, and becoming a Certified Residential Appraiser in Florida doesn’t require a college degree. So this is an especially attractive career path for anyone who doesn’t want to invest the time or money in an expensive university. In fact, real estate appraisers in Florida can make as much as (or more than) many occupations that require a college degree!
Let’s look at how much the average appraiser in Florida makes, what the income potential is for someone willing to work extra hard, and what you can do to boost your income as an appraiser in Florida.
What Does a Florida Real Estate Appraiser Do?
Real estate appraisers are responsible for assigning value to properties. If you’ve ever purchased a home, you likely had an appraisal done to assure your lender that the house is worth the amount you were paying for it. Home appraisals are also done during mortgage refinances to see how much equity the homeowner has in the home at the time of the refi.
Appraisals are regularly ordered for business-owned properties because businesses need to keep track of the value of their assets. And appraisals can also be used to protest property taxes since property taxes in Florida are based on the value of the property.
How Much Does the Average Florida Real Estate Appraiser Make?
According to the Bureau of Labor Statistics, Florida real estate appraisers earn an annual average wage of $63,470. This works out to $30.51 per hour. This is up an impressive 18% from the $53,900 mean in 2018.
And this is just the state average. In higher-value areas, like the Miami metro area, for example, the average income for Florida appraisers is over $75,000 per year!
What is the Income Potential for Florida Appraisers?
The state average includes appraisers who work part-time and those who work in low-cost-of-living areas. So the income potential for Florida appraisers is much higher for agents who work full-time and agents who work in higher-value areas.
Florida appraisers in the top 90th percentile are currently making over $112,930 per year! In the Miami metro area, this value jumps to over $130,000!
How Do I Maximize My Florida Appraiser Income?
Aside from working full-time rather than part-time, there are several ways to boost your income as a Florida appraiser.
Work independently. You might have a more stable income working as an in-house appraiser for a company. But when you go into business for yourself, you can be selective about the jobs you accept. This gives you the power to choose only high-paying assignments.
Work the luxury markets. The higher the property values, the more you can charge to complete an appraisal.
Expand into commercial real estate. Valuing residential real estate is the perfect starting point for your appraisal career. But the big money is in commercial appraisal. You’ll need to become a Certified General Appraiser (a step higher than a Certified Residential Appraiser), but it’s a smart move for those who are motivated.
Boost Your Florida Real Estate Career Today!
Florida real estate appraisers make good money and enjoy a rewarding career! You might decide to pursue your Certified Residential Appraiser License. Or you might decide to pursue your Florida Real Estate License first. Real estate agents enjoy a wider range of career options than appraisers. So getting your real estate license would allow you to start learning about real estate appraisal while keeping your options open.
Whether you decide to get your appraiser’s license or your real estate license, you could be just months away from your new career in Flordia real estate!