Real Estate Appraiser job description
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What does a Real Estate Appraiser do?
The Real Estate Appraiser provides an essential service by evaluating properties to determine their market value. This role directly contributes to real estate transactions by offering accurate and impartial property assessments that are vital for buyers, sellers, and financing institutions.
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What are the Key Responsibilities of Real Estate Appraiser
- Conduct thorough property inspections to assess value.
- Analyze property comparables, market trends, and other relevant factors.
- Prepare detailed appraisal reports in compliance with industry standards.
- Collaborate with real estate agents and stakeholders to gather necessary information.
- Stay updated on local and federal real estate laws and regulations.
- Use technology and tools to enhance appraisal precision and efficiency.
- Provide expert testimony or analysis in client discussions or court if necessary.
- Maintain detailed records of appraisals and updates as required.
What are the Skills and Requirements for a Real Estate Appraiser?
- Strong analytical and critical thinking skills for accurate property assessments.
- Proficient in appraisal software and tools like TOTAL and ACI.
- Excellent written and verbal communication skills.
- Detail-oriented with the ability to work independently.
- Knowledge of local and national real estate markets.
What are the KPIs to track for Real Estate Appraiser?
The Real Estate Appraiser's performance is measured by the accuracy of property valuations, consistency in meeting reporting deadlines, and maintaining compliance with regulatory standards and client expectations.
Valuation Accuracy
Percentage of assessments that align with market sales and official evaluations.
Timeliness
Meeting established deadlines for appraisals and report submissions.
Regulatory Compliance
Ensuring all appraisals meet current laws and regulatory requirements.
Reports to
Chief Appraiser
Collaborates with
Real Estate Agents, Loan Officers
Leads
Junior Appraisers, Appraisal Assistants
Are any specific tools or software required for the Real Estate Appraiser role?
- TOTAL by a la mode
- ACI (Appraiser's Choice)
- Excel
- Public Records Database
What is the qualification of Real Estate Appraiser?
Certification or licensure as a Real Estate Appraiser; Accredited by state agencies; experience in residential or commercial property appraisals.
