Do you want to work in a field of the real estate industry? Have you begun investigating the different specialty areas in real estate but haven’t made up your mind yet? Have you considered focusing your work on real estate appraisal? As a real estate appraiser you will be providing a key component that contributes to the real estate industry as a whole. You will be responsible for examining and evaluating commercial or residential property in order to establish the fair market value for a loan’s collateral. It will be important for you to accurately assess the value of a specific property so that similar properties will have the potential to be fairly assessed in the market. Get your appraisal license today!
In order to work as a real estate appraiser you could begin by obtaining your associate of arts degree in appraisals. As you work to obtain your degree you will first be required to complete a course in home valuation. This class will teach you about the fundamental procedures and techniques of appraisals, how to objectively describe many different types of properties, and how to use both of these things to determine an appropriate value. This course will also give you an overview of the real estate market and how the ethical and legal considerations factor into your daily work responsibilities. You will also be required to take a market analysis course, which will teach you about identifying and analyzing the real estate market, as well as how to understand a property’s valuation.
You would also learn about supply and demand, submarkets, and market segmentation. In your property inspection class you will be taught how to examine the physical infrastructure of a property in order to arrive at its fair value. This will require you to inspect the plumbing and the electrical and heating/air conditioning systems of a particular structure. You will also be expected to identify potential issues in a building’s roof, masonry, and foundation. It will be important for you to learn about each of the legal requirements that are involved in a legal transaction. For instance, you will learn about deeds, contracts, titles, foreclosures, and real estate closings. If you are interested in this career path, take a moment and peruse the post-secondary schools that are listed on our site. If you see any that interest you, request that they send you a free information packet detailing what they have to offer you.
As a real estate appraiser your basic job functions will be the same. The only variation that is possibly within this occupation is to work solely in commercial real estate appraisal or residential real estate appraisal.