- Commercial appraisers specialize in property used commercially, such as office buildings, stores, and hotels.
- Residential appraisers focus on appraising property in which people live, such as duplexes and condominiums, and appraise only those that house one to four families.
Role of Appraisers and Assessors of Real Estate
- Estimate the value of real property when it is sold, mortgaged, taxed, insured or developed.
- Verify legal descriptions of real estate properties in public records.
- Inspect new and existing properties.
- Photograph the interior and exterior of properties.
- Compare similar nearby properties, to help determine value.
- Prepare written reports on the property value.
- Prepare and maintain current data on each real estate property.
Skills of Appraisers and Assessors of Real EstateAnalytical skills:
Appraisers and assessors of real estate should be good in research and analyzing data when valuing real estate. Customer-service skills:
Appraisers should have good people skills as they interact with clients, being polite and friendly is also important. 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:
Problem solving skills come handy when they have to develop and apply an alternative solution crucial to successfully completing the report on time.Time-management skills:
Appraisers and assessors of real estate often work under time constraints, as a result, managing time and meeting deadlines are important.
Appraisers and assessors of real estate typically work full time during regular business hours. However, self-employed appraisers, often called “independent fee appraisers,” usually work more than a standard 40-hour workweek, including writing reports during evenings and on weekends.
Sample Job Titles
Real Estate Appraiser, Appraiser, Staff Appraiser, Certified Real Estate Appraiser, Residential Real Estate Appraiser, Commercial Real Estate Appraiser, Engagement Director, Residential Fee Appraiser, Certified Residential Real Estate Appraiser, Real Property Appraiser.