Real Estate Appraisers: Salary, Job Description, How To Become One, and Quiz

Stan T.Career, OverviewLeave a Comment

Job description

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.
Read more about what does a Real Estate Appraiser really do at work and what is it like being and working as one.



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Salary

Average salary
$61870 per year

Average hourly wage
$30 per hour


Real Estate Appraisers with little to no experience tend to make between $29690 and $40310 while the more experienced ones can earn over $77290 per year.

Top 5 paying states Hourly Annual
NV $45 $94,400
DC $45 $93,730
CA $40 $84,130
CO $38 $79,390
IA $38 $78,680

One of the easiest ways to increase your salary as a Real Estate Appraiser is to move to a higher paying state like NV. Right now, the highest paying states for Real Estate Appraisers are NV, DC, CA, CO and IA.

However, a higher pay at NV doesn’t guarantee that you will make more because the living expenses at NV might be twice as high than where you are currently at now.

Three other factors that can increase your salary as a Real Estate Appraiser is the degree you hold, the industry you work in, and lastly the company you work for.


Requirements

Recommended degree level
Bachelor’s degree

We asked other Real Estate Appraisers what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by an Associate’s Degree.

Other than that, we also asked them what did they major in and here are the most popular majors that came up.

Real Estate Development
Real Estate
Read more about how to become a Real Estate Appraiser and the degree, training and education you need.


Pros and Cons

Here are some of the pros and cons of being a Real Estate Appraiser.

PROS
Suitable for people who likes to start and carry out projects
Suitable for people who wants independence and likes 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 likes 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)


What is the job like

Job satisfaction
72%

Is this job meaningful
41%


72% of Real Estate Appraisers said they were satisfied with their job and 41% said they feel like their job is making other people’s lives better.


Is this right for me

Best personality for this career
The Entrepreneurs and The Organizers

You can read more about these career personality types here.

People who are suitable for this job tends 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.



Learn more about Real Estate Appraisers

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Related career information

Real Estate Appraisers job description, Real Estate Appraisers salary, Real Estate Appraisers information, what is the job of a Real Estate Appraiser like, pros and cons about Real Estate Appraisers, colleges and universities for Real Estate Appraisers, is Real Estate Appraisers the right career for me, careers in Business and Finance

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