Appraisers and Assessors of Real Estate

Real estate offers plethora of career opportunities and employment is expected to grow in future.  If you have knack for customer service and have good analytical skill then do consider this career option, read the overview of being Appraisers and Assessors of Real Estate to know more.

Appraisers typically value one property at a time, and they often specialize in a certain type of real estate. Appraisers and assessors work in localities that they are familiar with so that they know any environmental or other concerns that may affect the property's value.

You can work as:

Commercial appraisers specialize in property used commercially, such as office buildings, stores, and hotels.

Residential appraisers focus on appraising property in which people live, such as duplexes and condominiums, and appraise only those that house one to four families.

Role of Appraisers and Assessors of Real Estate

  • Estimate the value of real property when it is sold, mortgaged, taxed, insured or developed.
  • Verify legal descriptions of real estate properties in public records
  • Inspect new and existing properties
  • Photograph the interior and exterior of properties
  • Compare similar nearby properties, to help determine value
  • Prepare written reports on the property value
  • Prepare and maintain current data on each real estate property 

Academic Qualification of Appraisers and Assessors of Real Estate

Though no formal training or qualification is required, a Bachelor's degree in Commerce is good to start with. One can specialise in accounting and auditing at the postgraduate level. 

Skills of Appraisers and Assessors of Real Estate

Analytical skills: Appraisers and assessors of real estate should be good in research and analyzing data when valuing real estate. 

Customer-service skills: Appraisers should have good people skills as they interact with clients, being polite and friendly is also important. 

Organizational skills: To successfully accomplish all the tasks related to appraising and assessing a property, appraisers and assessors of real estate need good organizational skills.

Problem-solving skills: Problem solving skills come handy when  they have to develop and apply an alternative solution is crucial to successfully completing the report on time.

Time-management skills: Appraisers and assessors of real estate often work under time constraints, as a result, managing time and meeting deadlines are important.  

Work Schedules

Appraisers and assessors of real estate typically work full time during regular business hours. However, self-employed appraisers, often called “independent fee appraisers,” usually work more than a standard 40-hour workweek, including writing reports during evenings and on weekends.

Scope of Appraisers and Assessors of Real Estate in India

With the real estate market showing positive changes over the last decade, scope of appraisers and assessors has increased. In India, they can be employed as Real Estate Appraiser, Appraiser, Certified Real Estate Appraiser, Residential Real Estate Appraiser, Commercial Real Estate Appraiser, and Real Property Appraiser.

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