Job Description - Real Estate Appraiser:
A real estate appraiser provides an estimate of a real property's value when it is sold, mortgaged, taxed, insured or developed. His or her work is similar to that of an assessor, but unlike an assessor, a real estate appraiser looks at one property at a time instead of several properties at once.
Employment Facts - Real Estate Appraiser:
There were 92,000 real estate appraisers employed in 2008.
Educational Requirements - Real Estate Appraiser:
While a minimum of an associate degree is generally required, most real estate appraisers have a bachelor's degree with coursework in subjects including economics, finance, mathematics, computer science, English, and business or real estate law.
Other Requirements - Real Estate Appraiser:
Federal law requires that all real estate appraisers are certified by the state in which they work. Each state has different requirements but most require the minimum of an associate degree for appraisers of residential property and a bachelor's degree for those who appraise commercial property. Real estate appraisers must take continuing education courses in order to maintain certification.
Advancement Opportunities - Real Estate Appraiser:
A real estate appraiser will generally begin his or her career as a trainee and eventually advance to senior appraiser or supervisor.
Job Outlook - Real Estate Appraiser:
Employment of real estate appraisers is expected to grow more slowly than the average for all occupations through 2018.
Earnings - Real Estate Appraiser:
In 2009, real estate appraisers earned a median annual salary of $47,840 (U.S.).
Use the Salary Wizard at Salary.com to find out how much a Real Estate Appraiser currently earns in your city.
A Day in a Real Estate Appraiser's Life:
On a typical day a real estate appraiser's tasks might include:
- visiting residential or commercial properties, depending on one's speciality
- evaluating a real property's unique characteristics and the characteristics of the surrounding area, its condition and any renovations that may have been made.
- estimating a property's value based on this evaluation
- writing reports of properties' estimated values
Sources:
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2010-11 Edition, Appraiser and Assessors of Real Estate, on the Internet at http://www.bls.gov/oco/ocos300.htm (visited January 19, 2011).
Employment and Training Administration, U.S. Department of Labor, O*NET Online, Real Estate Appraiser, on the Internet at http://online.onetcenter.org/link/details/13-2021.02 (visited January 19, 2011).
