Introduction to the Career
A real estate appraiser is a professional who assesses the value of properties. This may involve inspecting and evaluating properties, analyzing market data, and conducting research to determine accurate valuations. Real estate appraisers are typically hired by banks, mortgage companies, and real estate firms to assess properties for loans, sales, or other purposes.
Career Values, Traits, Skills
To succeed as a real estate appraiser, individuals must have a strong attention to detail, excellent analytical skills, and the ability to work independently. They should also possess good communication skills to effectively communicate their findings to clients. Additionally, real estate appraisers should be knowledgeable about real estate laws, regulations, and procedures.
Career Path
Real estate appraisers typically begin by obtaining a state-issued license or certification, which usually requires completing an approved education program and passing a qualifying exam. Once licensed, many appraisers start out working for an appraisal firm or government agency before eventually starting their own businesses. Continuing education is required to maintain a license.
Salary Range
According to the Bureau of Labor Statistics, the median annual salary for real estate appraisers and assessors was $57,010 in May 2019. Salaries can vary depending on experience, location, and type of employer.
Tips for Success
To be successful as a real estate appraiser, it is important to stay up to date on industry trends and changes. This can be done by attending conferences, taking courses, and staying informed on regulatory and legal developments. Networking with other professionals in the field can also help build connections and opportunities.
Another tip for success is to focus on building a strong reputation and gaining experience. Providing accurate and reliable appraisals can help build a positive reputation and lead to repeat business and referrals.
References
- Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Appraisers and Assessors of Real Estate: https://www.bls.gov/ooh/business-and-financial/appraisers-and-assessors-of-real-estate.htm
- The Appraisal Foundation: https://www.appraisalfoundation.org/
- American Society of Appraisers: https://www.appraisers.org/
