What Is a Real Estate Appraiser and How to Become One
Table of Contents
What Is the Job of a Real Estate Appraiser?
When a property owner wants to sell real estate or refinance a mortgage, a real estate appraiser is hired to assess the residential and commercial property value. As a real estate appraiser, your duties are to inspect the property and perform research about the surrounding area as well as the general real estate market to determine a proper value for the property in question. You make visits to the home or building to assess any damage and flood, earthquake, or fire risks, and make a value determination for your client based on your comprehensive research.
What Are the Requirements to Become a Real Estate Appraiser?
The requirements to become a real estate appraiser include educational qualifications and certification, as well as experience in the real estate industry. The regulations to work in real estate appraisal vary by state, but federal law requires appraisers who handle transactions regulated by the government to have a license or certification from the appraiser’s state. To qualify, you need to have at least a bachelor’s degree in a related area. Good fields to study include math, accounting, finance, and real estate. Important skills to develop to carry out your responsibilities include strong research ability and verbal and written communication.
Real Estate Appraiser Job Description Sample
With this Real Estate Appraiser job description sample, you can get a good idea of what employers are looking for when hiring for this position. Remember, every employer is different and each will have unique qualifications when they hire for a Real Estate Appraiser role.
Job Summary
The Real Estate Appraiser will be responsible for providing an accurate and impartial assessment of the value of a real estate property. The successful candidate will work with clients, lenders, and other real estate professionals to provide accurate appraisals of properties. This position requires a great deal of knowledge in the field of appraisal and market trends.
Duties and Responsibilities
- Analyze data, including sales, rents, and expense histories, to produce appraisals for properties
- Research and investigate properties to make sure all relevant information is taken into consideration when preparing an appraisal
- Utilize knowledge of market trends and statistics to make accurate predictions about the value of a property
- Communicate with clients, lenders, and other professionals in the industry to ensure accurate appraisals are provided
- Prepare detailed reports that include all relevant information and conclusions
- Ensure that all appraisals comply with the regulations of the state in which the property is located
Requirements and Qualifications
- Bachelor’s degree in Real Estate Appraisal, Real Estate, or related field
- License or certification as a Real Estate Appraiser
- Knowledge of appraisal techniques, local real estate markets, and market trends
- Able to work independently and meet deadlines
- Excellent communication, problem-solving, and organizational skills
- Proficient in Microsoft Office
