Real Estate Appraiser - Job Description

Real Estate Appraiser - Job DescriptionReal Estate Appraiser - Job DescriptionA real estate appraiser estimates the value of a single building or piece of land. His or her job is similar to that of anassessor, who instead considers the values of several properties at once. An appraisermay specialize in either commercial or residential property. He or she will be called upon to appraise a property before it is sold, mortgaged, taxed, insured, or developed. After visiting a site and observing its characteristics and the characteristics of the location, the appraiser analyzes the property compared to comparable homes. Quick Facts Median earningsfor appraisers and assessors are $51,850(2016).*81,000 people workin this field (2016).*Local governments and real estate companies employ most appraisers.Almosta quarter of them were self-employed.Most jobs are full-time positions.Real estate appraisers have an excellentjob outlook. The U.S. Bureau of Labor Statistics expects employment to g row faster than the average for all occupations between 2016 and 2026. *The U.S. Bureau of Labor Statistics does not report separate employment figures for appraisers. A Day in a Real Estate Appraisers Life To find out what its like to work as a real estate appraiser, we looked at job announcements posted on Indeed.com. Gather, verify, and analyze data on residential properties including, but not limited to, measuring structures, physically inspecting the exterior and interior of buildings, photographing property, analysis of market ausverkauf, and noting architectural quality and intended use of the propertyAssist or conduct internal or in-house appraisals and valuationsKeep abreast of current real estate market conditions and their effect on the apartment and commercial real estate markets in assigned geographic area Assist in the construction of financial models including discounted cash flowResponsible for data management including collection, verification,and analysis of sa les, pending sales and listings, as well as maintaining other information required for the valuation processMaintains property records by indicating any changes in the propertyBe a team player that wants to be a part of something bigger than just his/her jobPrepares and defends division in informal and formal appeal proceedings with assistance as needed from senior appraisers and manager How to Become a Real Estate Appraiser You will likely needa bachelors degree to work as a real estate appraiser because most states require one for licensing. Course ineconomics, finance, mathematics, computer science, English, and business or real estate law will prepare you for this career. A license issued by the state in which you work is required if your job includes appraising properties for transactions that involve federally insured banks or financial institutions. The Appraiser Qualifications Board (AQB) sets minimum standards for education, experience and examination requirements that each state must follow when issuing licenses. There is more information about the AQBs standards onThe Appraisal Foundationwebsite. What Soft Skills Do You Need? In plus-rechnen to a bachelors degree and a state-issued license, you will also need thesesoft skills, or personal qualities, to succeed in your job Listening Skills To meet your clients needs, you must understand what they are telling you.Critical Thinking The ability to compare various alternatives when making decisions or solving problems is essential.Reading Comprehension You must be able to understand written documents.Writing Skills A big part of your job will be writing reports.Verbal Communication You will need to be able to clearly convey information to clients. What Will Employer Expect From You? Job announcements on Indeed.com reveal that employers are looking for the following qualities when hiring workers Exceptional analytical and narrative writing skillsLifts (up to 50 pounds), and carries items nece ssary to complete an inspectionAbility to handle multiple priorities and meet deadlines in a fast-paced environmentStrong technical skills including proficiency in the use of electronic communications and document exchange via the InternetAbility to perform detailed work with a high degree of accuracyStrong math and analytical skillsAbility to handle reasonably necessary stress Is This Occupation a Good Fit for You? Should you become a real estate appraiser? A self assessment will let you learn about yourinterests,personality type, andwork-related valuesso that you can decide if this career is a good fit for you. Individuals who have the following traits are best suited for this occupation Interests(Holland Code) ECR (Enterprising, Conventional, Realistic)Personality Type(MBTI PersonalityTypes) INTJ, ESTJ, ISTJ, ESFJWork-Related Values Independence, Support, Achievement Occupations With Related Activities and Tasks DescriptionMedian Annual Wage (2016)Minimum Required Educati on/TrainingAssessorEstimates the values of entire neighborhoods of homes$51,850Individual states set minimum requirementsTax ExaminerChecks tax returns for accuracy$52,060Bachelors DegreeAuditorChecks an organizations financial records for signs of mismanagement$68,150Bachelors DegreeCost EstimatorFigures out the approximate cost of completing a project$61,790Bachelors Degree or Extensive Experience in Construction Sources Bureau of Labor Statistics, U.S. Department of Labor,Occupational Outlook Handbook Employment and Training Administration, U.S. Department of Labor,O*NETOnline(visited April 6, 2018).