Real estate appraiser role is very significant in the real estate industry. The job requires deep understanding of land value, building value and factors which affects it. The main responsibility of the appraiser is evaluation of property before sale, for the purpose of taxation or mortgage. The person should be able to assess the actual value of the property taking into account the various factors like condition of the property, locality and development prospective, market trend and other similar factors. For this purpose all the data related to the particular land has to be collected and make an estimate of the land value. The appraiser gives a detail report to the client starting from the location of the property, its physical condition, legal status of the property to its current and prospective market value. The estimated value and report of the appraiser is the basis of further mortgage, loan and sale of property. The appraiser of real estate is different from other appraiser jobs. Each property is different from other in most of the factors like location, area, title, type of ownership etc. Hence each property needs to be appraised keeping in view all such factors. The sale of real estate property is not that frequent as corporate stocks or any other movable property. Hence the job market for real estate appraiser is highly competitive. Even though the real estate industry is in its full boom and employment opportunities is increasing in this field but rate of increase in job employment for real estate appraiser is relatively slow with other career opportunities in this field.
Any person with a bachelor’s degree can enter this profession. Each state has a license board to issue license to act as appraiser of the real estate property. The technicalities of this profession make it mandatory for the new licensee or the certificate holder to work as trainee for initial few months. In some states the trainee appraiser need to give some exams to practice full fledge as an independent appraiser or independently taking up any assignment. Other than license and certificates, the real estate appraiser must be able to decide thing impartially and independently and posses good analytical skills. The salary of the real estate agent varies according to the location like urban area real estate appraisers are paid more than the rural real estate appraiser. The real estate appraisers for residential projects are paid less than the real estate appraiser of commercial projects. The real estate appraiser can work independently and they are also hired by real estate companies.