What is a Real Estate Appraiser?
Occupation Description Appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.
What Do Real Estate Appraisers Do On a Daily Basis?
- Evaluate land and neighborhoods where properties are situated, considering locations and trends or impending changes that could influence future values.
- Check building codes and zoning bylaws to determine any effects on the properties being appraised.
- 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.
- Draw land diagrams that will be used in appraisal reports to support findings.
- Photograph interiors and exteriors of properties to assist in estimating property value, substantiate findings, and complete appraisal reports.
- Compute final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential.
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What Every Real Estate Appraiser Should Know
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.
Related Job Titles
- Property Appraiser
- Real Estate Appraiser Supervisor
- Residential Appraiser
- Real Estate Appraiser
- Appraiser
Job Demand for Real Estate Appraisers
In the United States, there were 80,800 jobs for Real Estate Appraiser in 2016. 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. The BLS estimates 6,700 yearly job openings in this field.
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.
How much do Real Estate Appraisers make in each U.S. state?
| 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
- 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?
What kind of Real Estate Appraiser requirements are there?
How Long Does it Take to Become a Real Estate Appraiser?
Where Real Estate Appraisers Are Employed
Below are examples of industries where Real Estate Appraisers work:
You May Also Be Interested In…
Those thinking about becoming a Real Estate Appraiser might also be interested in the following careers:
References:
Image Credit: Godrej Mamurdi Pune via Creative Commons Attribution-Share Alike 4.0 International
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