What Does A Real Estate Appraiser Do (including Their Typical Day at Work)

Stan T.Career, Overview

Salary, Job Description, How To Become One, and Quiz

Real Estate Appraisers

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

Salary
$65630
Becoming One
Hard
Education
Bachelor's degree
Job Satisfaction
Job Growth

Personality
Interest Match





Find a job you love and you will never work a day in your life.Confucius

What they do

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

  • Compute final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential.
  • Prepare written reports that estimate property values, outline methods by which the estimations were made, and meet appraisal standards.
  • Collect and analyze relevant data to identify real estate market trends.
  • Inspect properties to evaluate construction, condition, special features, and functional design, and to take property measurements.

Typical day

On a daily basis, Real Estate Appraisers compute the final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential. They check building codes and zoning bylaws to determine any effects on the properties being appraised.

A typical day for a Real Estate Appraiser will also include:

  • 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.
  • Verify legal descriptions of properties by comparing them to county records.
  • Prepare written reports that estimate property values, outline methods by which the estimations were made, and meet appraisal standards.
  • Collect and analyze relevant data to identify real estate market trends.
  • Evaluate land and neighborhoods where properties are situated, considering locations and trends or impending changes that could influence future values.

Other responsibilities

Besides their typical day, Real Estate Appraisers also examine income records and operating costs of income properties. They may also inspect properties to evaluate construction, condition, special features, and functional design, and to take property measurements.

On a weekly to monthly basis, Real Estate Appraisers search public records for transactions such as sales, leases, and assessments. They might also prepare written reports that estimate property values, outline methods by which the estimations were made, and meet appraisal standards.

In addition, they interview persons familiar with properties and immediate surroundings, such as contractors, homeowners, and realtors, to obtain pertinent information.

Although specific duties may vary, many of them photograph interiors and exteriors of properties to assist in estimating property value, substantiate findings, and complete appraisal reports.

To some Real Estate Appraisers, it is also their responsibility to collect and analyze relevant data to identify real estate market trends.

Freedom to make decisions

How much decision making freedom does this job offer?

No freedom
0%

Very little freedom
5%

Limited freedom
10%

Some freedom
30%

A lot of freedom
55%

Structured vs unstructured work

To what extent is this job structured for you versus allowing you to determine your own tasks, priorities, and goals?

No freedom
0%

Very little freedom
5%

Limited freedom
10%

Some freedom
40%

A lot of freedom
45%


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What is the job like

Job satisfaction

High

Is this job meaningful

Low

72% said they were satisfied with their job and 41% said they found their job meaningful.


Courtney Manton
Best Gapp group

Providing a market appraisal is so much more than putting a figure on it. As an appraiser and chartered surveyor in one of the most expensive areas in London, Belgravia, the majority of my time on a job is spent providing advice to a client on what things are impacting on or have the future potential to impact on their property’s value.

In addition to the physical inspection (home visit or virtual viewing), and looking at the lease, the key to an accurate valuation is down to my knowledge of the local market. This is where experience plays a huge role.

A typical day for me could include working on a leasehold enfranchisement case, negotiating a sale or a purchase of a property, or working on a planning permission application to enhance value.

I have worked as a valuer for over 30 years now and no two days are the same. I am a problem solver and this is the part of my job I love the most. The only con is that there are not enough hours in the day!


Pros

Suitable for people who like to start and carry out projects.

Suitable for people who want independence and like to work on their own and make decisions.

This career is perfect for people who love to work indoors.

Good salary (earns more than 50% of the careers out there).

Cons

Not suitable for people who like to work with designs.

It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.

Long working hours (More than 40 hours per week).

How much do they make

Average salary

$65630 per year

Average hourly wage

$32 per hour

Entry-level Real Estate Appraisers with little to no experience can expect to make anywhere between $32,990 to $43,400 per year or $16 to $21 per hour.

Salary by experience Annual Hourly
Highest (Top 10%) $107,090 $51
Senior (Top 25%) $80,790 $39
Median $58,650 $28
Junior (Bottom 25%) $43,400 $21
No experience (Bottom 10%) $32,990 $16

This table shows the top 10 highest paying industries for Real Estate Appraisers based on their average annual salary.

Salary by industry Annual Hourly
Federal Executive Branch $98580 $47.39
Postal Service (Federal Government) $92500 $44.47
Credit Intermediation and Related Activities $80870 $38.88
Wholesale Electronic Markets and Agents and Brokers $80520 $38.71
Management of Companies and Enterprises $79560 $38.25
Computer Systems Design and Related Services $78040 $37.52
Electric Power Generation, Transmission and Distribution $75890 $36.49
Nondepository Credit Intermediation $75150 $36.13
Insurance Carriers $74980 $36.05
Accounting, Tax Preparation, Bookkeeping, and Payroll Services $72680 $34.94

View more salary by industries here.

Where can they work

Where can Real Estate Appraisers work? Here is a table showing the top 10 largest employers of Real Estate Appraisers including the average salary in that industry.

Employers Total Employed Annual Salary Hourly Wages
Local Government 23360 $60750 $29.21
Real Estate 19370 $67140 $32.28
Credit Intermediation and Related Activities 2290 $80870 $38.88
State Government 1880 $63100 $30.34
Nondepository Credit Intermediation 1480 $75150 $36.13
Management of Companies and Enterprises 1000 $79560 $38.25
Other Professional, Scientific, and Technical Services 940 $70180 $33.74
Federal Executive Branch 620 $98580 $47.39
Agencies, Brokerages, and Other Insurance Related Activities 590 $58760 $28.25
Management, Scientific, and Technical Consulting Services 510 $63690 $30.62

What is the work day like

Working hours

Less than 40 hours
0%

40 hours
21%

More than 40 hours
79%

Working schedule

45%

55%

0%

Work with group or team

How important is it to work with others in a group or team in this job?

Not important at all
26%

Fairly important
42%

Important
16%

Very important
11%

Extremely important
5%

Deal with external customers

How important is it to work with customers in this job?

Not important at all
5%

Fairly important
20%

Important
45%

Very important
15%

Extremely important
15%

Manage or lead others

How important is it to coordinate or lead others in completing work activities in this job?

Not important at all
30%

Fairly important
40%

Important
25%

Very important
0%

Extremely important
5%

Email

How often do you use email in this job?

Once a week
5%

Every day
90%

Telephone

How often do you have telephone conversations in this job?

Once a week
17%

Every day
83%

Group discussions

How often do you have group discussions in this job?

Once a week
21%

Every day
47%

Public speaking

How often does this job require you to do public speaking?

Never
25%

Once a year
55%

Once a month
15%

Once a week
0%

Every day
5%

Frequency of conflict situations

How often are there conflict situations in this job?

Never
5%

Once a year
40%

Once a month
25%

Once a week
30%

Every day
0%

Dealing with angry people

How often do you have to deal with angry, unpleasant, or discourteous individuals in this job?

Never
5%

Once a year
50%

Once a month
45%

Once a week
0%

Every day
0%

Dealing with physically aggressive people

How often do you have to deal with physically aggressive people in this job?

Never
65%

Once a year
35%

Once a month
0%

Once a week
0%

Every day
0%

Level of competition

How much competitive pressure is in this job?

Not competitive at all
0%

Slightly competitive
0%

Moderately competitive
40%

Highly competitive
55%

Extremely competitive
5%

Repetition in this job

How important is repeating the same type of task over and over in this job?

Not important at all
0%

Fairly important
10%

Important
30%

Very Important
35%

Extremely Important
25%

Impact of decisions on co-workers or company results

What results do your decisions usually have on other people or the reputation or financial resources of your employer?

No impact
5%

Minor impact
20%

Moderate impact
15%

Important impact
40%

Very important impact
20%

Frequency of decision making

How frequently do you have to make decisions that affect other people, the financial resources, and/or the reputation of the company?

Never
5%

Once a year
15%

Once a month
15%

Once a week
40%

Every day
25%

Responsibility for others’ health and safety

How much responsibility is there for the health and safety of others in this job?

No responsibility
65%

Limited responsibility
25%

Moderate responsibility
5%

High responsibility
0%

Very high responsibility
5%

Responsibility for outcomes and results

How much responsibility is there for the work outcomes and results of other workers?

No responsibility
25%

Limited responsibility
40%

Moderate responsibility
25%

High responsibility
5%

Very high responsibility
5%

What is the work environment like

Office-style environment

Indoors in an environmentally controlled condition

Never
15%

Once a year or more
10%

Once a month or more
0%

Once a week or more
5%

Every day
70%

Warehouse-style environment

Indoors in a non-controlled environmental condition such as a warehouse

Never
40%

Once a year or more
15%

Once a month or more
15%

Once a week or more
20%

Every day
10%

Outdoors

Outdoors exposed to all weather conditions

Never
5%

Once a year or more
0%

Once a month or more
10%

Once a week or more
45%

Every day
40%

Outdoors – Under Cover

Outdoors but under cover (e.g. structure with roof but no walls)

Never
70%

Once a year or more
0%

Once a month or more
15%

Once a week or more
10%

Every day
5%

How to become one

Difficulty to become one

Hard
You will need a considerable amount of work-related skill, knowledge, or experience. Careers in this difficulty category usually require a Bachelor’s degree and several years of work-related experience, on-the-job training, and/or vocational training. Similar careers include Database Administrators, Chemists, Art Directors, and Accountants.

Required level of education

What level of education do you need to perform the job?

Less than a High School Diploma
0%

High School Diploma or equivalent
0%

Post-Secondary Certificate
5%

Some College Courses
10%

Associate’s Degree or similar
25%

Bachelor’s Degree
60%

Post-Baccalaureate Certificate
0%

Master’s Degree
0%

Post-Master’s Certificate
0%

First Professional Degree
0%

Doctoral Degree
0%

Post-Doctoral Training
0%

Relevant work experience

How much related work experience do you need to get hired for the job?

None
20%

1 month
0%

1 to 3 months
0%

3 to 6 months
0%

6 months to 1 year
10%

1 to 2 years
15%

2 to 4 years
45%

4 to 6 years
5%

6 to 8 years
0%

8 to 10 years
0%

Over 10 years
5%

On The Job Training

How much on the job training do you need to perform the job?

None or short demonstration
0%

1 month
0%

1 to 3 months
5%

3 to 6 months
10%

6 months to 1 year
20%

1 to 2 years
25%

2 to 4 years
35%

4 to 10 years
0%

Over 10 years
5%

Should you become one

Best personality type for this career

The Leader

People with this personality likes to start and work on projects. They also like leading people and making many decisions.

The Builder
52%

People with The Builder personality type likes practical and hands-on work. They prefer working with plants, animals, and real-world materials like wood, tools, and machinery.


The Thinker
29%

People with The Thinker personality likes to work with ideas that require an extensive amount of thinking. They prefer work that requires them to solve problems mentally.


The Artist
14%

People with The Artist personality likes to work with designs and patterns. They prefer activities that require self-expression and prefer work that can be done without following a clear set of rules.


The Helper
33%

People with The Helper personality type likes to work with people and in teams. They prefer work that allows them to build relationships with others.


The Leader
86%

People with The Leader personality likes to start and work on projects. They also like leading people and making many decisions.


The Organizer
81%

People with The Organizer personality type likes to follow set procedures and routines. They prefer working with data and details more than with ideas.


You can read more about these career personality types here.

People who are suitable for this job tend to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk-taking and often deal with business.

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

Take this quiz to see if this is the right career for you.

Work Values

Which values are the most important to a person’s satisfaction for this job?

Achievement
62%

You are someone who is results oriented. You prefer work that allows you to utilize your skills and abilities while at the same time giving you a sense of accomplishment.

Working Conditions
62%

You are someone who values job security, steady employment, and good working conditions. You also prefer work that keeps you busy all the time with something different to do every day.

Recognition
52%

You are someone who values job advancement and leadership roles. You prefer work that receives recognition for the work you do and jobs that are looked up to by others in the company and your community.

Relationships
48%

You are someone who likes to provide a service to others. You prefer a work environment where you can work with your co-workers in a friendly non-competitive environment.

Support
67%

You are someone who values a company that stands behind their employees. You prefer a work environment where everyone is treated fairly and is being supported by the company.

Independence
71%

You are someone who likes to work on your own and make your own decisions. You prefer work that requires little supervision and are allowed to try out your own ideas.

FAQ


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