Appraisers, Real Estate

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Also known as:  Assessor, City Assessor, County Assessor, Land Appraiser, Personal Property Assessor, Property Appraiser, Real Estate Appraiser, Real Estate Assessor, Real Property Evaluator, Residential Fee Appraiser

ABOUT REAL ESTATE APPRAISER CAREERS

VIDEO TRANSCRIPT Expand
When property is being 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 salaries 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 reset 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 many states. They take a national uniform appraiser examination, which is offered monthly.
SNAPSHOT Expand
Appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.
Leadership
LOW
Critical decision making
HIGH
Level of responsibilities
LOW
Job challenge and pressure to meet deadlines
HIGH
Dealing and handling conflict
LOW
Competition for this position
HIGH
Communication with others
HIGH
Work closely with team members, clients etc.
HIGH
Comfort of the work setting
HIGH
Exposure to extreme environmental conditions
LOW
Exposure to job hazards
LOW
Physical demands
LOW
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DAILY TASKS Expand
Testify in court as to the value of a piece of real estate property.
Draw land diagrams that will be used in appraisal reports to support findings.
Verify legal descriptions of properties by comparing them to county records.
Examine the type and location of nearby services, such as shopping centers, schools, parks, and other neighborhood features, to evaluate their impact on property values.
Examine income records and operating costs of income properties.
Prepare written reports that estimate property values, outline methods by which the estimations were made, and meet appraisal standards.
Check building codes and zoning bylaws to determine any effects on the properties being appraised.
Interview persons familiar with properties and immediate surroundings, such as contractors, home owners, and realtors, to obtain pertinent information.
Obtain county land values and sales information about nearby properties to aid in establishment of property values.
Compute final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential.
Estimate building replacement costs using building valuation manuals and professional cost estimators.
MAIN ACTIVITIES Expand
Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Processing Information Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Evaluating Information to Determine Compliance with Standards Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Identifying Objects, Actions, and Events Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
Analyzing Data or Information Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Making Decisions and Solving Problems Analyzing information and evaluating results to choose the best solution and solve problems.
Updating and Using Relevant Knowledge Keeping up-to-date technically and applying new knowledge to your job.
AREAS OF KNOWLEDGE Expand
Customer and Personal Service Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Building and Construction Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
Mathematics Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
English Language Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Computers and Electronics Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Economics and Accounting Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
Clerical Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
Law and Government Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
KEY ABILITIES Expand
Written Comprehension The ability to read and understand information and ideas presented in writing.
Written Expression The ability to communicate information and ideas in writing so others will understand.
Oral Comprehension The ability to listen to and understand information and ideas presented through spoken words and sentences.
Near Vision The ability to see details at close range (within a few feet of the observer).
Oral Expression The ability to communicate information and ideas in speaking so others will understand.
Deductive Reasoning The ability to apply general rules to specific problems to produce answers that make sense.
Inductive Reasoning The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Speech Recognition The ability to identify and understand the speech of another person.
TOP SKILLS Expand
Reading Comprehension Understanding written sentences and paragraphs in work related documents.
Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Judgment and Decision Making Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Writing Communicating effectively in writing as appropriate for the needs of the audience.
Time Management Managing one's own time and the time of others.
Speaking Talking to others to convey information effectively.
Active Learning Understanding the implications of new information for both current and future problem-solving and decision-making.
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