The value of Appraisers
Learn more about accredited Appraisers
Demystifying Appraisals
If you’re unfamiliar with what Real Estate Appraisers do you’re not alone. Few people outside of industry circles really understand the benefits, value, and critical role Appraisers and their services provide to the real estate industry. Below, we’ll look to clarify what it is we actually do in a few short paragraphs.
What does an Appraiser Do?
Real estate appraisers assess commercial and residential properties during the sales, mortgage, and development processes. This ensures that buyers pay fair market prices and sellers make competitive sales. Real estate appraisers enjoy flexible work schedules, but often have busy days appraising multiple properties under tight time constraints.
Collect Data About The Property
On the job, real estate appraisers take photographs, complete inspections, and research comparable sales in the area. Appraisers determine a property’s value based on its age, condition, size, and location. They also consider the noisiness of the neighborhood, the property’s views, and past appraisals during the process. Technology has helped streamline assessing and appraising.
- Conduct formal appraisals of real property or land before it is sold, mortgaged, taxed, insured, or developed
- Evaluate properties to establish market values and property ratings using internal and external sources
- Make on site visits, inspect property and interview clients
Examine all variables that impact property’s present or future value (comparable home sales, previous sales records, future developments etc)
Prepare Reports & Assess Value
You will be responsible for aggregating, analysing, interpreting and reporting on appraisal data.
- Examine all variables that impact property’s present and future value (comparable home sales, previous sales records, future developments, etc)
- Prepare reports that fully explain assessment results and outline methods used
- Document procedure and backup data
- Keep up with current regulations, standards, and best practices
Requirements & Skills
Depending on the company and location where you may work as an Appraiser there may be different standards and criteria for consideration, however the points below are a good general outline or starting point to consider when thinking about becoming a Certified Appraiser.
- Proven working experience as a Real Estate Appraiser
- Advanced knowledge of MS Office and ARGUS, CoStar, LoopNet or other relevant software
- Familiarity with all current industry’s regulations, rules and standards
- Strong analytical and research skills
- Excellent writing and communication skills
- Licensed or certified appraiser
- BS degree in relevant field
Interested In Joining Worth?
To find out more about working with us at Worth we’d love to hear from you. Please see the links below to take the next step in your career.
