Appraisers and Assessors of Real Estate
Appraisers and assessors value properties so they can be sold, mortgaged or taxed.
Appraisers and assessors estimate property value when the property is sold, taxed, mortgaged, developed or insured. Appraisers and assessors are usually very familiar with the area they work in and know where properties are and about the local community. They also have a working knowledge of architecture, renovations, sales, leasing and more.
When they visit properties, appraisers and assessors compare the property to other that have sold and record information like lease records, view, location, previous appraisals, building condition and potential.
Appraisers usually have independent clients and just work with one property at a time. As an appraiser you can choose to focus on a certain kind of property. For example, commercial appraisers focus on businesses, hotels and stores and residential appraisers focus on homes and residences for one to four families.
On the other hand, assessors usually work for local governments and value properties, and sometimes whole neighborhoods, for taxes. Assessors also reevaluate properties and assess them multiple times because property values can change.
As an appraiser or assessor, you will spend some time in your office keeping records and tracking property values but you will also spend some time on site evaluating properties to determine value.
To jump into the real estate industry as an appraiser or assessor, you will need a bachelor’s degree and some states require certification. The U.S. Bureau of Labor Statistics predicts a slow increase in employment opportunities in this field. The average yearly salary is about $47,000 but some make as much as $88,000.