Appraisers, Real Estate
Career Snapshot
When property is purchased or appraised for a loan or estate, someone who is not involved in the transaction must consider its value. An objective analysis is provided by a real estate appraiser. The appraiser inspects the property, takes into account its location, and does research. He or she may interview people with ties to the property and study public records.
The estimate takes into account both the condition of the property and recent sales of similar properties. The appraiser also photographs the outside and inside of the property. Following that, a written report is created. This is a position for folks who appreciate getting out of the office and inspecting property and conducting research. However, the ability to write a concise written report is also required.
Some appraisers work for banks, insurance firms, or other financial institutions on a salary. Others work as self-employed contractors. When a property owner dies, the heirs may commission an appraisal to reset the value of the property for tax purposes.
Although some vocational institutions provide courses in real estate valuation, most appraisers have extra experience in fields that help them evaluate property. For example, knowing about architecture and construction materials or the history of an area can be beneficial.
Many states require real estate appraisers to be licenced. They must pass a national uniform appraiser examination, which is given on a monthly basis.
Characteristics
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Key Abilities
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Deductive Reasoning
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Inductive Reasoning
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Near Vision
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Oral Comprehension
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Oral Expression
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Speech Recognition
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Written Comprehension
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Written Expression
Colleges
Top Skills