What Do Real Estate Appraiser Do?
Job Description: Appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.
A Day in the Life of a Real Estate Appraiser
- Inspect properties to evaluate construction, condition, special features, and functional design, and to take property measurements.
- Draw land diagrams that will be used in appraisal reports to support findings.
- Collect and analyze relevant data to identify real estate market trends.
- Search public records for transactions such as sales, leases, and assessments.
- 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.
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Qualities of a Real Estate Appraiser
Below is a list of the skills most Real Estate Appraisers say are important on the job.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
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.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Speaking: Talking to others to convey information effectively.
Types of Real Estate Appraiser
- Valuation Consultant
- Real Property Appraiser
- Certified Real Estate Appraiser
- Residential Appraiser
- Appraiser
Is There Going to be Demand for Real Estate Appraisers?
There were about 80,800 jobs for Real Estate Appraiser in 2016 (in the United States). New jobs are being produced at a rate of 14.4% which is above the national average. The Bureau of Labor Statistics predicts 11,600 new jobs for Real Estate Appraiser by 2026. There will be an estimated 6,700 positions for Real Estate Appraiser per year.
The states with the most job growth for Real Estate Appraiser are Utah, Nevada, and Colorado. Watch out if you plan on working in Maryland, Alaska, or Maine. These states have the worst job growth for this type of profession.
Real Estate Appraiser Salary
The salary for Real Estate Appraisers ranges between about $29,690 and $102,590 a year.
Real Estate Appraisers who work in District of Columbia, Nevada, or California, make the highest salaries.
Below is a list of the median annual salaries for Real Estate Appraisers in different U.S. states.
| State | Annual Mean Salary |
|---|---|
| Alabama | $54,340 |
| Alaska | $76,080 |
| Arizona | $49,330 |
| Arkansas | $45,180 |
| California | $84,130 |
| Colorado | $79,390 |
| Connecticut | $70,610 |
| District of Columbia | $93,730 |
| Florida | $53,900 |
| Georgia | $54,550 |
| Hawaii | $67,870 |
| Idaho | $53,090 |
| Illinois | $56,520 |
| Indiana | $48,740 |
| Iowa | $78,680 |
| Kansas | $56,800 |
| Kentucky | $46,740 |
| Louisiana | $52,310 |
| Maine | $60,120 |
| Maryland | $63,590 |
| Massachusetts | $70,150 |
| Michigan | $52,730 |
| Minnesota | $69,200 |
| Mississippi | $57,120 |
| Missouri | $55,190 |
| Montana | $46,490 |
| Nebraska | $71,370 |
| Nevada | $94,400 |
| New Hampshire | $70,840 |
| New Jersey | $73,200 |
| New Mexico | $44,710 |
| New York | $63,100 |
| North Carolina | $57,230 |
| North Dakota | $53,840 |
| Ohio | $69,650 |
| Oklahoma | $49,050 |
| Oregon | $69,040 |
| Pennsylvania | $59,830 |
| South Carolina | $54,130 |
| South Dakota | $49,100 |
| Tennessee | $57,320 |
| Texas | $59,310 |
| Utah | $52,280 |
| Vermont | $55,870 |
| Virginia | $60,420 |
| Washington | $69,770 |
| West Virginia | $40,710 |
| Wisconsin | $66,030 |
| Wyoming | $58,600 |
What Tools & Technology do Real Estate Appraisers Use?
Below is a list of the types of tools and technologies that Real Estate Appraisers may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Web browser software
- Word processing software
- Microsoft Windows
- Geomechanical design analysis GDA software
- CPR Visual Estimator
- Cost estimation software
- Construction Management Software ProEst
- CPR International GeneralCOST Estimator
- a la mode WinTOTAL
- WinEstimator WinEst
- RealData Comparative Lease Analysis
- Softree Technical Systems Terrain Tools
- Wilson’s Computer Applications RealEasy Appraisals
- Greenbrier Graphics Deed Plotter
- RPIS Silent CMA
- Govern Software Land and Permits Management System
Becoming a Real Estate Appraiser
Are there Real Estate Appraisers education requirements?
What work experience do I need to become a Real Estate Appraiser?
Where do Real Estate Appraisers Work?
The table below shows the approximate number of Real Estate Appraisers employed by various industries.
Related Careers
Those interested in being a Real Estate Appraiser may also be interested in:
References:
Image Credit: Godrej Mamurdi Pune via Creative Commons Attribution-Share Alike 4.0 International
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