What do Appraisers and Assessors of Real Estate Do?
Appraisers and assessors of real estate work with home owners, builders, real estate agents, buyers and sellers. They inspect property in order to estimate its value. Depending on the circumstances, they may also assess taxes. Property values need to be assessed for a number of reasons, including tax purposes, insurance adjustments, mortgage refinance and sale of the property.Job openings in this field are expected to steadily increase, with 1,210 projected openings every year nation-wide. This is an average 6 percent positive change overall, with certain geographic locations expecting much bigger increases.
Appraisers and Assessors of Real Estate Skills and Abilities
Necessary skills for an appraiser or assessor of real estate include good communication, both oral and written, and good customer service. Interaction with the public is a daily component of this occupation. You’ll be meeting regularly with homeowners, contractors and other professionals. You’ll also need a solid knowledge of mathematics, local law and legal codes and a basic understanding of building and construction procedures. You will have to be able to focus on the task at hand in all kinds of situations and circumstances. A professional demeanor is required at all times.
Appraisers and Assessors of Real Estate Duties
The main role of a real estate appraiser is to estimate costs. These include property values and estimated repair and replacement costs. To do this job, you’ll collect data from multiple sources, including written records and in-person interviews. You will also examine, inspect and photograph properties and draw diagrams. You will have to verify details regarding property descriptions, as well as income records and market trends when appraising an income-producing property. You may also have to testify in court as to the accuracy of your findings.As a real estate assessor, your main role is to determine the value of properties and calculate tax bills. A tax assessor is usually an elected official, so if you become the tax assessor for a specific county, you will likely have to set standards for calculating property values and taxes, and you will also interview and hire employees. You will be obtaining and analyzing information by the same means as a real estate appraiser: doing research and checking sources. Strong analytical and leadership skills are necessary for this position.
Appraisers and Assessors of Real Estate Tools and Technology
Common tools used in this occupation include maps, charts, laser measuring devices, computers, financial analysis software and database software. You will need to be familiar with graphics software and map creation software, and be able to read flood maps and geographical analyses.
Education and Training for Appraisers and Assessors of Real Estate
Entry level appraisers and assessors of real estate positions usually require a Bachelor’s degree. Once you have acquired your degree, perhaps in the field of real estate development or real estate, you can expect a long period of on-the-job training before you’re ready to go out and appraise on your own.
Appraisers and Assessors of Real Estate Salary
The median annual salary for appraisers and assessors of real estate is around $52,600. Most people in this occupation earn between $27,000 and $95,000 per year, or $12.97 to $45.68 per hour.
Appraisers and Assessors of Real Estate Jobs by Geography
Utah, Arizona, Texas and Florida expect the greatest gains in the appraisers and assessors of real estate field, with increases of up to 22.2 percent over a 10-year period. A few areas, like the District of Columbia, US Virgin Islands and Guam, expect a decrease in demand for this occupation. If you want to be a real estate appraiser or assessor, consider moving to an area with a high demand for these skills.