Description
Appraisers, also known as real estate appraisers and assessors of real properties, estimate the values of real properties prior to a final sale. They specialize in commercial or residential property appraisals. Appraisers must be licensed and pass rigorous certification requirements. They are expected to exercise good judgment to provide an expert analysis to all parties involved in a property sale. Analytical, interpersonal, mathematical, project management and report writing skills are integral attributes of successful appraisers.
Tasks:
1. Determine taxability and value of properties, using methods such as field inspection, structural measurement, calculation, sales analysis, market trend studies, and income and expense analysis.
2. Inspect properties, considering factors such as market value, location, and building or replacement costs to determine appraisal value.
3. Explain assessed values to property owners and defend appealed assessments at public hearings.
4. Prepare and maintain current data on each parcel assessed, including maps of boundaries, inventories of land and structures, property characteristics, and any applicable exemptions.
5. Write and submit appraisal and tax reports for public record.
6. Analyze trends in sales prices, construction costs, and rents, to assess property values or determine the accuracy of assessments.
7. Conduct regular reviews of property within jurisdictions to determine changes in property due to construction or demolition.
8. Provide sales analyses to be used for equalization of school aid.
Key skills for an appraiser:
United States of America: $51,930 per year
Qualification and training required:
Although there aren't any federally mandated educational requirements—minimum requirements are usually set by state assessor boards or by individual localities in states that do not have assessor boards—many assessors have bachelor's degrees. Coursework in economics, finance, mathematics, computer science, English, and business or real estate law is useful. Some municipalities hire assessors who have just high school diplomas. Most assessment offices provide on-the-job training but those that do not, hire assessors who get their experience from other sources.
Tasks:
1. Determine taxability and value of properties, using methods such as field inspection, structural measurement, calculation, sales analysis, market trend studies, and income and expense analysis.
2. Inspect properties, considering factors such as market value, location, and building or replacement costs to determine appraisal value.
3. Explain assessed values to property owners and defend appealed assessments at public hearings.
4. Prepare and maintain current data on each parcel assessed, including maps of boundaries, inventories of land and structures, property characteristics, and any applicable exemptions.
5. Write and submit appraisal and tax reports for public record.
6. Analyze trends in sales prices, construction costs, and rents, to assess property values or determine the accuracy of assessments.
7. Conduct regular reviews of property within jurisdictions to determine changes in property due to construction or demolition.
8. Provide sales analyses to be used for equalization of school aid.
Key skills for an appraiser:
- Able to accurately analyze real estate data, such as calculating square footage of land and building space
- Excellent written and communication skills
- Able to research and organize relevant property documentation
- Advanced skills in Microsoft Office applications (MS Word, Excel, PowerPoint and Outlook)
- Advanced understanding of the principles of valuation
- A strong working knowledge of the programs and tools common to the valuation industry
United States of America: $51,930 per year
Qualification and training required:
Although there aren't any federally mandated educational requirements—minimum requirements are usually set by state assessor boards or by individual localities in states that do not have assessor boards—many assessors have bachelor's degrees. Coursework in economics, finance, mathematics, computer science, English, and business or real estate law is useful. Some municipalities hire assessors who have just high school diplomas. Most assessment offices provide on-the-job training but those that do not, hire assessors who get their experience from other sources.