Appraisers and Assessors of Real Estate: Salary, career path, job outlook, education and more
- Education Required
- Although requirements may vary by state, certified appraisers and assessors of residential or commercial property usually need at least a bachelors degree.
- Training Required
- Employers generally require candidates to take basic appraisal courses, complete long-term on-the-job training, and work enough hours to meet the requirements for licenses or certificates.
- Job Outlook
-
The projected percent change in employment from 2016 to 2026: 14% (Faster than average)
(The average growth rate for all occupations is 7 percent.) - Licenses/Certifications
- Federal law requires appraisers to have a state license or certification when working on federally related transactions, such as appraisals for loans made by federally insured banks and financial institutions. The Appraisal Foundation (TAF) offers information on appraisal licensing. There is no such federal requirement for assessors, although some states require certification. For state-specific requirements, applicants should contact their state board.
- Median pay: How much do Appraisers and Assessors of Real Estate make?
- $51,850 Annual Salary
- $24.93 per hour
Appraisers and assessors of real estate provide a value estimate on land and buildings usually before they are sold, mortgaged, taxed, insured, or developed.
What do Appraisers and Assessors of Real Estate do?
Appraisers and assessors of real estate typically do the following:
- Verify legal descriptions of real estate properties in public records
- Inspect new and existing properties, noting the characteristics
- Photograph the interior and exterior of properties
- Analyze comparables, or similar nearby properties, to help provide values
- Prepare written reports on the property values
- Prepare and maintain current data on each real estate property
Appraisers and assessors work in localities that they are familiar with so that they know any environmental or other concerns that may affect the property's value.
Careers for Appraisers and Assessors of Real Estate
- Appraisers
- Assessors
- City assessors
- County assessors
- Land appraisers
- Personal property assessors
- Property appraisers
- Real estate appraisers
- Real estate assessors
- Real property evaluators
- Residential fee appraisers
- Tax assessors