All About Real Estate Appraisers
Position Description Appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.
Real Estate Appraiser Responsibilities
- Photograph interiors and exteriors of properties to assist in estimating property value, substantiate findings, and complete appraisal reports.
- Examine income records and operating costs of income properties.
- 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.
- Search public records for transactions such as sales, leases, and assessments.
- Testify in court as to the value of a piece of real estate property.
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Real Estate Appraiser Required Skills
When polled, Real Estate Appraisers say the following skills are most frequently used in their jobs:
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.
Other Real Estate Appraiser Job Titles
- Field Staff Appraiser
- Residential Property Tax Appraiser
- Home Appraiser
- Staff Appraiser
- Real Property Appraiser
Job Demand for Real Estate Appraisers
In 2016, there was an estimated number of 80,800 jobs in the United States for Real Estate Appraiser. 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. Due to new job openings and attrition, there will be an average of 6,700 job openings in this field each 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.
Do Real Estate Appraisers Make A Lot Of Money?
Real Estate Appraisers make between $29,690 and $102,590 a year.
Real Estate Appraisers who work in District of Columbia, Nevada, or California, make the highest salaries.
How much do Real Estate Appraisers make 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 do Real Estate Appraisers Use?
Although they’re not necessarily needed for all jobs, the following technologies are used by many Real Estate Appraisers:
- 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
- RealData Comparative Lease Analysis
- Softree Technical Systems Terrain Tools
- Wilson’s Computer Applications RealEasy Appraisals
- WinEstimator WinEst
- a la mode WinTOTAL
- Greenbrier Graphics Deed Plotter
- HP 49G+ Appraiser Fee Calculator
- Howard and Friends Computer CMA Plus
How do I Become a Real Estate Appraiser?
Individuals working as a Real Estate Appraiser have obtained the following education levels:
How many years of work experience do I need?
Where do Real Estate Appraisers Work?
Below are examples of industries where Real Estate Appraisers work:
Other Jobs You May be Interested In
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References:
Image Credit: Godrej Mamurdi Pune via Creative Commons Attribution-Share Alike 4.0 International
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