real estate appraiser | Real Estate Appraiser

Real Estate Appraiser





A real estate appraiser estimates the value of a single building or piece of land. His or her job is similar to that of an assessor, who actually considers the values ​​of several properties at once. An appraiser may specialize in either commercial or residential property.

He or she will be called to property before it is sold, mortgaged, taxed, insured, or developed. After visiting a site and observing its characteristics and the characteristics of the location, the appraiser analyzes compared to comparable homes.




Quick Facts
Median earnings for appraisers and assessors are $ 51,850 (2016). *
81,000 people work in this field (2016). *
Local governments and real estate companies most appraisers.
Almost a quarter of them were self-employed.
Most jobs are full-time positions.
Real estate appraisers have an excellent job outlook. The U.S. Bureau of Labor Statistics expects employment to grow faster than the average for all occupations between 2016 and 2026.
* The U.S. Bureau of Labor Statistics does not report separate employment figures for appraisers.

A Day in Real Estate Appraiser's Life
To find out what it is like to work on a real estate appraiser, we looked at job announcements posted on Indeed.com.

"Gather, verify, and analyze data on residential properties, but not limited to, measuring structures, effectively inspecting the exterior and interior of buildings, photographing property, analysis of market sales, and noting architectural quality and the use of property"
"Assist or conduct internal or in-house appraisals and valuations"
"Keep abreast of current real estate market conditions and their effect on the market"
"Assist in the construction of financial models including discounted cash flow"
"Responsible for data management, including collection, verification, and analysis of sales, pending sales and listings,"

"Maintains property records by indicating any changes in the property"
"Be a team player who wants to be a part of something bigger than just his / her job"
"Prepares and defends division in informal and formal appeal proceedings with assistance from senior appraisers and manager"
How to Become a Real Estate Appraiser
You will probably need a bachelor's degree to work as a real estate appraiser because most states require one for licensing. Course in economics, finance, mathematics, computer science, English, and business or real estate law will prepare you for this career.  A license issued by the state in which your work is required. The Appraiser Qualifications Board (AQB) minimum standard sets for education, experience and examination requirements that each state must follow when issuing licenses. There is more information about the AQB's standards on the Appraisal Foundation website.

What Soft Skills Do You Need?
In addition to a bachelor's degree and a state-issued license, you will also need these skills, or personal qualities, to succeed in your job:


Listening Skills: To meet your customers' needs, you must understand what they are telling you.
Critical Thinking: The ability to compare various alternatives when making decisions or solving problems is essential.
Reading Comprehension: You must be able to understand written documents.
Writing Skills: A big part of your job will be writing reports.
Verbal Communication: You will need to be able to clearly convey information to customers.
What Will Employer Expect From You?
Job Announcements on Smile.com

"Exceptional analytical and narrative writing skills"
"Lifts (up to 50 pounds), and carries items necessary to complete an inspection"
"Ability to handle multiple priorities and meet deadlines in a fast-paced environment"
"Strong technical skills including proficiency in the use of electronic communication and document exchange via the Internet"
"Ability to perform detailed work with a high degree of accuracy"
"Strong math and analytical skills"
"Ability to handle reasonably necessary stress"
Is This Occupation a Good Fit for You?
Should you become a real estate appraiser? A self assessment will help you learn about your interests, personality type, and work-related values ​​so that you can decide if this career is a good fit for you. Individuals who have the following characteristics are best suited for this occupation:

Interests (Holland Code): ECR (Enterprising, Conventional, Realistic)
Personality Type (MBTI Personality Types): INTJ, ESTJ, ISTJ, ESFJ
Work-Related Values: Independence, Support, Achievement
etc.