Appraisers, Real Estate
Also called: Appraiser, Certified Real Estate Appraiser, Real Estate Appraiser, Valuation Consultant
Produced by CareerOneStop
Video transcript: skip transcript
When property is being sold, bought, or evaluated for a loan or estate, someone who does not have an interest in the transaction must consider its value. A real estate appraiser provides that objective analysis. The appraiser inspects the property, considers its location, and does research. He or she might interview people who have a connection to the property, and examine public records. Both the condition of the property, and recent sales of similar properties are factored into the calculation. The appraiser takes pictures of the outside and inside of the property, too. Then a written report is prepared. This is a job for people who enjoy getting away from the desk, to inspect property and conduct research. But an ability to develop a clear written report is also important. Some appraisers are salaried employees of banks, insurance companies, or other financial institutions. Others are independent contractors. For example, the heirs of a property owner might commission an appraisal when the owner dies, to re-set the value of the property for tax purposes. Some vocational schools offer courses in real estate appraisal, but most people working as appraisers have additional experience in fields that give them knowledge that helps them evaluate property. For example, it helps to know about building and construction materials, or the history of a neighborhood. Real estate appraisers are licensed in most states. They take a National Uniform Appraiser Examination, which is offered monthly.
What they do:Appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.
On the job, you would:
- Compute final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential.
- Prepare written reports that estimate property values, outline methods by which the estimations were made, and meet appraisal standards.
- Collect and analyze relevant data to identify real estate market trends.
Arts and Humanities
- English language
Math and Science
- arithmetic, algebra, geometry, calculus, or statistics
Engineering and Technology
- computers and electronics
- building and construction
- customer service
- reading work related information
- listening to others, not interrupting, and asking good questions
- noticing a problem and figuring out the best way to solve it
- listen and understand what people say
- read and understand what is written
Ideas and Logic
- make general rules or come up with answers from lots of detailed information
- use rules to solve problems
- choose the right type of math to solve a problem
- add, subtract, multiply, or divide
People interested in this work like activities that include leading, making decisions, and business.
They do well at jobs that need:
- Attention to Detail
- Analytical Thinking
You might use software like this on the job:
Financial analysis software
- CPR Visual Estimator
- Manufacturing Technology Costimater
Analytical or scientific software
- a la mode WinTOTAL
- Construction Management Software ProEst
Data base user interface and query software
- Ascend Property Assessment
- Bruno Realty eNeighboorhoods