When analyzing personal productivity many

commercial real estate appraisers only look at their monthly gross production. Considering we are an analytical group by nature, you would think we would analyze our income by a multitude of units of comparison. Gross production per: year, quarter, month (we do this now), week, day and most importantly hourly.

At our appraisal productivity seminars, we're always surprised to find that appraisers don't know their hourly income, either gross or net take-home pay. Which is too bad because hourly income is one of the best indicators of your productivity level. 

How do we measure up?  The following is a breakdown of average salaries for professions in the US according to Parade magazine.  I excluded the multi-millionaires of the Hollywood and sports world.  Here's a quick snapshot: 

Maine tour guide $26,000 ($13/hr)

Miami DJ $30,000 ($14/hr)

Appraisal Assistant $35,000 ($17/hr)

Corrections officer $44,000 ($21/hr)

Personal chef $55,000 ($26/hr)

Blackjack instructor $60,000 ($29/hr)

Pharmacist $127,000 ($61/hr)

FedEx pilot $148,000 ($71/hr)

Astrologer $177,000 ($85/hr)

To put it in terms of our world, let's take a "typical" intermediate commercial appraiser producing $12,500 per month working 50 hours per week on a 35% fee split.  Their take-home income is only $20/hour, barely above the appraisal assistant and less than a corrections officer.

If you produce $15,000/month, 40% fee split, 50 hours a week, you're income is between a personal chef and blackjack instructor.

Sobering isn't it? Why not shoot for the stars (yes this is a weak astrologer reference) and have an hourly income well above the pack?  Certainly more than your office admin.  What's holding you back?  We think we have some productivity ideas - give us a call.

If you would like to join a discussion about this topic or Appraisal Best Practices contact Jeff Hicks.