Real Estate Appraiser
What you need to know
Real estate appraisers and assessors provide a value estimate of land and buildings usually before they are sold, mortgaged, taxed, insured, or developed.
Real estate appraisers and assessors work in offices, laboratories, or outdoors. Depending on their job, they may spend considerable time in the field gathering data and studying animals in their natural habitats.
Some of the things real estate appraisers and assessors might do:
- Verify legal descriptions of real estate properties in public records
- Inspect new and existing properties, noting the characteristics
- Photograph the interior and exterior of properties
- Analyze “comparables,” or similar nearby properties, to help provide values
- Prepare written reports on the property values
- Prepare and maintain current data on each real estate property
- Analytical skills. Appraisers and assessors of real estate use many sources of data when valuing a property. As a result, they must carefully research and analyze all factors before estimating a value and producing a final written report.
- Customer-service skills. Because appraisers must regularly interact with clients, being polite and friendly is important. In addition, these characteristics may help expand future business opportunities.
- Math skills. Accurately analyzing real estate data includes such steps as calculating the square footage of land and building space, so workers must have good math skills.
- Organizational skills. To successfully accomplish all the tasks related to appraising and assessing a property, appraisers, and assessors of real estate need good organizational skills.
- Problem-solving skills. Appraising or assessing a property’s value may involve unexpected problems. The ability to develop and apply an alternative solution is crucial to successfully complete the appraisal and report on time.
- Time-management skills. Appraisers and assessors of real estate often work under time constraints, sometimes appraising many properties in a single day. As a result, managing time and meeting deadlines are important.
The average pay for real estate appraisers and assessors in the United States was $61,340 in May 2021 according to the U.S. Bureau of Labor Statistics.
The pay for real estate appraisers and assessors depends on factors such as level of experience, education and training, geographic location, and specific industry.
About 6,800 new job openings for property appraisers and assessors are projected each year, on average, over the next 10 years in the United States.
Overall employment of property appraisers and assessors is projected to grow 4 percent from 2021 to 2031 according to the U.S. Bureau of Labor Statistics. This is about as fast as the average growth rate for all occupations.
Demand for appraisal services is linked to the real estate market, which can fluctuate in the short term. Employment opportunities should be best in areas with active real estate markets.
Although requirements may vary by state, certified appraisers and assessors of residential or commercial property usually need at least a bachelor’s degree.
College courses in subjects such as economics, finance, mathematics, computer science, English, and business or real estate law can be useful for prospective appraisers and assessors.
Discover some of the courses you will take pursuing a degree in Real Estate.