Real Estate AppraiserReal Estate Appraisers salary statistic

Salary Range: $23.5k- $104k

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Salary Range: $23.5k - $104k

Real Estate Appraiser Salary Report: Job Description

A real estate or property appraiser determines the value of residential and commercial land and buildings. They work for realty companies, banks, local and state governments, real estate investment companies, or directly for property owners.  The value that they assign to a property can impact many things. This includes:

  • The Price of a Property Put up For Sale
  • The Amount of Financing a Bank or Other Institution Will Offer
  • The Amount of Real Estate or Property Taxes an Owner Will be Charged
  • The Amount of Insurance Reimbursement an Owner Will Receive After They File a Claim For Damage or Loss
  • The Cost of Homeowner's Insurance Premiums
  • Determining Fair Market Value For an Estate or For Bankruptcy Purposes

Appraiser Salary Report: Job Duties

The home appraiser salary is earned by performing a variety of tasks. These included measuring and surveying land to determine acreage or lot dimensions, measuring the interior and exterior of buildings on the property, assessing the general condition of buildings and land, and determining if the property is up to code. They may also access and analyze records about the property including information on prior sales or appraisals.

In some cases, home inspectors or other individuals perform the physical work related to evaluating a property. Then, the assessor uses that information to calculate the value of the property. In any case, once this information has been gathered, the appraiser applies a variety of formulas and best practices that they have learned through education, training, and experience.

The commercial real estate appraiser salary and job duties can vary slightly from those working strictly in the residential sector.

Residential And Commercial Appraiser Salary Report: Educational Requirements

In most cases, this field requires a Bachelor’s degree. It can be in discipline such as Real Estate, Finance, Banking, Quantitative Analysis, or even Construction Technology or other similar field. Sometimes, a property assessor moves into their position by transferring from residential or construction trades. In addition to having a degree or equivalent experience and training. Assessors are often required to have special licenses through professional or government agencies.

In the scenario where an individual works for a county or state government, they may be required to pass very specific exams. They often also must be able to prove that they are familiar with local and state tax regulations that relate to the value of property and the assessment of that property.

Salary Range

The median salary for this career field is 49K. The range starts at 30K and goes up to 80K. The variation in salary depends on a variety of factors. These include experience, region, and the specific industry. For example, a rural county property assessor will make significantly less than someone working for a large investment firm in a major metropolis. Assessors who work full time usually get health insurance and other benefits. In some cases, a real estate assessor will earn commission if they are working on a sales team or refinancing company.

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