Real Estate Appraiser Job Description

The Real Estate Appraiser appraises real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.

Tasks for Real Estate Appraisers

• The Real Estate Appraiser prepares written reports that estimate property values, outlines methods by which the estimations were made, and meet appraisal standards.

• The Real Estate Appraiser computes final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential.

• The Real Estate Appraiser searches public records for transactions such as sales, leases, and assessments.

• The Real Estate Appraiser inspects properties to evaluate construction, condition, special features, and functional design, and to take property measurements.

• The Real Estate Appraiser photographs interiors and exteriors of properties to assist in estimating property value, substantiate findings, and complete appraisal reports.

• The Real Estate Appraiser evaluates land and neighborhoods where properties are situated, considering locations and trends or impending changes that could influence future values.

• The Real Estate Appraiser obtains county land values and sales information about nearby properties to aid in establishment of property values.

• The Real Estate Appraiser verifies legal descriptions of properties by comparing them to county records.

• The Real Estate Appraiser checks building codes and zoning bylaws to determine any effects on the properties being appraised.

• The Real Estate Appraiser estimates building replacement costs using building valuation manuals and professional cost estimators.

Knowledge requirements for Real Estate Appraisers

The Real Estate Appraiser must have knowledge of principles and processes for providing customer and personal services. This includes customer needs assessments, meeting quality standards for services, and evaluation of customer satisfaction. The Real Estate Appraiser needs knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads. The Real Estate Appraiser needs knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar. The Real Estate Appraiser needs knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

The Real Estate Appraiser needs knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including, applications and programming. The Real Estate Appraiser needs knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology. The Real Estate Appraiser needs knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data. The Real Estate Appraiser needs knowledge of business and management principles of involved in strategic planning, resource allocation, human resources modeling leadership technique, production methods, and coordination of people and resources. The Real Estate Appraiser needs knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process. The Real Estate Appraiser needs knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plan, animal, and human life.

Skills for Real Estate Appraisers

• The Real Estate Appraisers need the skill of writing that is communicating effectively in writing as appropriate for the needs of the audience.

• The Real Estate Appraiser needs the skill of mathematics that is the use of mathematics to solve problems in their job function.

• The Real Estate Appraiser needs the skill to use logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

• The Real Estate Appraiser needs the skill of understanding written sentences and paragraphs in work related documents.

• The Real Estate Appraiser needs the skill of time management that includes the time of other crew members as well as their time.

• The Real Estate Appraiser needs the skill to identify complex problems and review related information to develop and evaluate options and implement solutions.

• The Real Estate Appraiser needs the skill to give full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

• The Real Estate Appraiser needs the skill to understand the implications of new information for both current and future problem solving and decision making.