When a piece of property is put up for sale and a buyer is interested in purchasing it a real estate appraiser is usually hired to give an opinion on how much the property is actually worth. In order to come to a conclusion on a piece of property’s value a real estate appraiser must take into consideration the condition of the property the location of the property improvements that have been made to the property the size of the property and the sale prices of comparable properties in the vicinity. According to the website www.bestjobdescriptions.com real estate appraisers must also verify legal descriptions of properties and compare the descriptions to the records on file in the property records office in the county where the property resides. In addition to providing appraisals for potential property buyers appraisals are also necessary for insurance-related purposes so that homeowner’s insurance companies know the property’s replacement value. Typical employers of real estate appraisers include real estate companies banks mortgage companies and insurance companies. While it is not necessary to have a formal education to become a real estate appraiser it is required that a licensed be earned. In addition to a license strong mathematical skills are helpful as well as the ability to keep up-to-date on changing real estate market conditions. According to the U.S. Department of Labor Statistics real estate appraisers typically earn an average of $44460 per year. Most choose to specialize in one particular type of property such as residential commercial or multi-unit.
|Education Required:||High School Diploma & Certification and/or License|
|Tasks:||Estimates property values.
Searches public records for comparable appraisals.
Verifies legal descriptions of properties.
Checks building codes and zoning regulations.
|Also Called:||Real Estate Valuer
Real Estate Agent
Real Estate Examiner
Real Estate Analyst