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Career Details : Appraisers, Real Estate

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Description

Appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.

Experience

A minimum of two to four years of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

Education

Most of these occupations require a four-year bachelor's degree, but some do not.

Training

Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.

Tasks

  • Considers such factors as depreciation, value comparison of similar property, and income potential, when computing final estimation of property value.
  • Photographs interiors and exteriors of property to assist in estimating property value, to substantiate finding, and to complete appraisal report.
  • Inspects property for construction, condition, and functional design and takes property measurements.
  • Interviews persons familiar with property and immediate surroundings, such as contractors, homeowners, and other realtors to obtain pertinent information.
  • Searches public records for transactions, such as sales, leases, and assessments.
  • Prepares written report, utilizing data collected, and submits report to corroborate value established.
  • Considers location and trends or impending changes that could influence future value of property.

    Related Careers

    Important Abilities

    General Work Activities

    Important Skills

    Frequent Work Context

    • Importance of Being Exact or Accurate
    • Importance of Being Sure All Is Done
    • Job-Required Social Interaction
    • Objective or Subjective Information
    • Consequence of Error

    Related Majors

    Major Add to MyFSA
    Finance/Real Estateadd Finance/Real Estate to MyFSA
    Finance/Real Estate/Lawadd Finance/Real Estate/Law to MyFSA
    Real Estateadd Real Estate to MyFSA
    Real Estate Developmentadd Real Estate Development to MyFSA
    Real Estate/International Businessadd Real Estate/International Business to MyFSA
    Real Estate/Metropolitan Developmentadd Real Estate/Metropolitan Development to MyFSA
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