How to Enter the World of Real Estate Appraisal

Real estate appraisers work alongside realtors in residential and commercial housing markets. Appraisers need the same people skills and self-motivation as a quality realtor, and they also need the keen eye of a home inspector to see areas that can either decrease or increase the value of a property.

If this line of work interests you, check out what is typically involved in the appraiser role and the type of appraisal license courses you can take to get started on this career journey.

The Role of the Real Estate Appraiser

Real estate appraisers must use many factors to decide a property’s value, including the interior and exterior of a structure and observations of the neighborhood. Appraisers must be meticulous note-takers as they are required to prepare legal documents for public records. Basic tasks of an appraiser can include:

  • Inspecting homes and using information of similar neighborhood homes as a comparison of value
  • Taking photographic evidence of the inside and outside of a property
  • Preparing legal documents that report current property value and what effected the estimated value

How to Become a Real Estate Appraiser

Like all other areas of real estate, you will need to be licensed before starting in the appraisal field. The Appraisal Qualifications Board is the agency that decides the minimum requirements that must be met to become a real estate appraiser. However, some states may require more educational hours than recommended. Check with your state Appraisal Board to confirm the number of educational hours needed.

Hours may differ between states, but there are three courses that are required to complete your training. The first course is AppraisalPrinciples, an introduction to the real estate business that can help those who have never worked inside this field. Appraisal Principles includes general overviews of the methods needed to evaluate properties and the ethical aspects of a proper appraisal.

The next course that must be completed is Appraisal Procedures. This second course encompasses information that is necessary to successfully report an appraisal, including how to properly collect data and write official documents.

The last course in the series is Universal Standards of Professional Appraisal Practice, also known as USPAP. During the USPAP, you will learn all the ethical standards that an appraiser must adhere to when performing their role in a business.

Real estate appraisers have a vital role in property sales, and with the right combination of education and personal determination, this could be the career for you.