What Do Real Estate Appraisers Do: Job Description, Responsibilities and Duties

Stanley TanLeave a Comment



daily life of a Real Estate Appraiser
are Real Estate Appraisers happy with their job

Real Estate Appraisers

Other names for this job might include Appraiser, Bank Appraiser, Certified Real Estate Appraiser, Certified Residential Real Estate Appraiser, Commercial Real Estate Appraiser, Engagement Director, Home Appraiser, Licensed Appraiser, Property Appraiser, Real Estate Appraiser


  • $58400
    Salary
  • 72%
    Job satisfaction
  • Quite Hard
    Becoming one
  • Low
    Job growth
OwlGuru Rank

B



Being A Real Estate Appraiser: What You Really Do


In this job description guide, you will find out what do Real Estate Appraisers do and what is their typical work day like.

After reading this, you will have a much better idea on whether you will like working as a Real Estate Appraiser or not.



Job summary

Real Estate Appraisers appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.

We asked Real Estate Appraisers how satisfied they are with their job. Here is what they said.

Job satisfaction

72%

How meaningful is this job

41%


72% of them said they were satisfied with their job and 41% said they find that their job makes the world a better place or helps to make someone else’s life better.



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Typical day

On a daily basis, Real Estate Appraisers Compute final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential. They Evaluate land and neighborhoods where properties are situated, considering locations and trends or impending changes that could influence future values.

1 of the main responsibilities as A Real Estate Appraiser is to Verify legal descriptions of properties by comparing them to county records.

Some may also Check building codes and zoning bylaws to determine any effects on the properties being appraised.

In a normal work day, another thing that Real Estate Appraisers do is they Examine the type and location of nearby services, such as shopping centers, schools, parks, and other neighborhood features, to evaluate their impact on property values.

A typical day for A Real Estate Appraiser look like this:

Appraise property values.
Appraise property values.
Verify accuracy of records.

We asked some Real Estate Appraisers a few questions to find out what else does their work day look like. Here is what we found.

Do you have telephone conversations everyday in this job?83% said yes
Do you have to use email everyday in this job?90% said yes
How important is it to work in a team in this job?5% said very important
Do you have group discussions everyday in this job?47% said yes
Do you have to meet strict deadlines everyday in this job?45% said yes
Do you talk or work with customers everyday in this job?15% said yes
Do you have to deal with angry customers everyday in this job?0% said yes
Do you have to make decisions everyday in this job?25% said yes



Other responsibilities

Besides the “typical day” things that Real Estate Appraisers do, they Prepare written reports that estimate property values, outline methods by which the estimations were made, and meet appraisal standards. They might also Search public records for transactions such as sales, leases, and assessments.

On a weekly to monthly basis, Real Estate Appraisers Inspect properties to evaluate construction, condition, special features, and functional design, and to take property measurements. and Photograph interiors and exteriors of properties to assist in estimating property value, substantiate findings, and complete appraisal reports.

In addition, they Obtain county land values and sales information about nearby properties to aid in establishment of property values.

Although specific duties may vary, many of them Estimate building replacement costs using building valuation manuals and professional cost estimators.

To some Real Estate Appraisers, it is also their responsibility to Examine income records and operating costs of income properties.

A typical week or month for them might include:

Prepare financial documents, reports, or budgets.
Gather financial records.
Evaluate condition of properties.
Create images of data, locations, or products.
Gather financial records.



Working life

Working hours

More than 40 hours per week

Working schedule

Irregular (Changes with weather conditions, production demands or contract duration)


In a typical work week as A Real Estate Appraiser, you can expect to work More than 40 hours per week.

Do Real Estate Appraisers work in an office-style work environment?

Everyday
70%

Once a week
5%

Once a month
0%

Once a year
10%

Never
15%

Do Real Estate Appraisers work in a warehouse-style work environment?

Everyday
10%

Once a week
20%

Once a month
15%

Once a year
15%

Never
40%

Do Real Estate Appraisers work outdoors?

Everyday
40%

Once a week
45%

Once a month
10%

Once a year
0%

Never
5%



Is this right for me

Best personality for this career

The Persuaders and The Organizers


You can read more about these career personality types here.

You will like this career if you are someone who likes starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.

You also like following set procedures and routines. They like working with data and details more than with ideas.



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They operate real estate office, or work for commercial real estate firm, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.






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Related to Real Estate Appraisers Job Description

Real Estate Appraisers job description, what do Real Estate Appraisers do, typical day for Real Estate Appraisers, what is it like to work as a Real Estate Appraiser, how many hours do Real Estate Appraisers work, day to day work of a Real Estate Appraiser

Additional resources

http://www.bls.gov/OOH/business-and-financial/appraisers-and-assessors-of-real-estate.htm
http://www.appraisers.org/
http://www.appraisalinstitute.org/
http://www.iaao.org/

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Real Estate Appraisers
Written by: Stanley Tan
Real Estate Appraisers appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.
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