All About Real Estate Appraisers
Career Description Appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.
A Day in the Life of a Real Estate Appraiser
- Search public records for transactions such as sales, leases, and assessments.
- Prepare written reports that estimate property values, outline methods by which the estimations were made, and meet appraisal standards.
- Compute final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential.
- Check building codes and zoning bylaws to determine any effects on the properties being appraised.
- Draw land diagrams that will be used in appraisal reports to support findings.
- Estimate building replacement costs using building valuation manuals and professional cost estimators.
What Skills Do You Need to Work as a Real Estate Appraiser?
When polled, Real Estate Appraisers say the following skills are most frequently used in their jobs:
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.
Other Real Estate Appraiser Job Titles
- Residential Property Tax Appraiser
- Licensed Appraiser
- Certified Residential Appraiser
- Residential Staff Specialist
- Bank Appraiser
Job Outlook for Real Estate Appraisers
In 2016, there was an estimated number of 80,800 jobs in the United States for Real Estate Appraiser. 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. Due to new job openings and attrition, there will be an average of 6,700 job openings in this field each year.
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.
How Much Does a Real Estate Appraiser Make?
The average yearly salary of a Real Estate Appraiser ranges between $29,690 and $102,590.
Real Estate Appraisers who work in District of Columbia, Nevada, or California, make the highest salaries.
Below is a list of the median annual salaries for Real Estate Appraisers in different U.S. states.
| 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 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
- a la mode WinTOTAL
- WinEstimator WinEst
- RealData Comparative Lease Analysis
- Softree Technical Systems Terrain Tools
- Wilson’s Computer Applications RealEasy Appraisals
- Greenbrier Graphics Deed Plotter
- RPIS Silent CMA
- Govern Software Land and Permits Management System
Becoming a Real Estate Appraiser
Education needed to be a Real Estate Appraiser:
How many years of work experience do I need?
Where Real Estate Appraisers Work
The table below shows some of the most common industries where those employed in this career field work.
Similar Careers
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References:
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