What is an appraiser?
An appraiser is a real estate professional who specializes in providing opinions of value (appraisals). Most appraisers are real estate appraisers, who specialize in real property. Other appraisers specialize in other types of property, such as gems or machinery and equipment. Professional appraisers have taken courses and been supervised during their training period. State licensed and certified appraisers must pass a test and have completed basic education and continuing education. Most states also require a period of supervision, usually 2,000 hours before being able to do appraisals “on your own.
An appraiser, or real estate appraiser, is trained and qualified in providing an estimate of the worth of a property such as a home or business. An appraiser has an extensive knowledge of the market and performs a thorough analysis in order to create an accurate appraisal of a property’s value. A qualified real estate appraiser will always present the appraisal in a written report that is clear in its meaning. The contents of an appraisal report include the estimated value of the property, the date, the purpose of the appraisal and the signature of the appraiser. The appraisal must also identify the address of the property and maps or photographs may also accompany the report. An appraiser can estimate property value in one or more different ways. In a Direct Comparison, the appraiser researches what a buyer would get for a similar property. The appraiser compares real property listings and actual selling prices. In a cost approach, the appraiser calculates what the cost of building a
According to USPAP (Uniform Standards of Professional Appraisal Practice), an appraiser is one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. Clients hire appraisers to help them resolve valuation problems. Some problems are complex and some are more straightforward.
What’s an Appraiser? An appraiser is a licensed professional who provides appraisal services for a fee. These professionals are often required to take courses and have undergone an extensive training period. In States where appraisers must be licensed, the appraisers must also pass a test, complete basic education requirements and adhere to continuing education guidelines. The majority of States also require that an appraiser “apprentice” under an experienced appraiser for a certain number of hours before performing appraisals on their own. What Does an Appraiser Do? An appraiser performs a number of tasks including an inspection of the home that he or she is appraising. The appraiser may also perform a thorough research of public records in order to obtain items such as a plat map, research zoning, flood data and review the sales and listings of similar homes in your area. When inspecting your home, the appraiser will make notes of any improvements and physical characteristics. After
An appraiser is one who develops and reports an opinion of value on a specific type of property. Appraisers may opt to specialize in various disciplines such as: • Real Property appraisal, which is the valuation of real estate. Real Property appraisers can choose specialties to practice within such as residential, commercial and agricultural. • Personal Property appraisal, which encompasses all types of personal property such as fine and decorative arts, antiques, gems and jewelry and machinery and equipment. • Business Valuation which is the valuing of businesses including all tangible and intangible assets ranging from the value of the equipment to the value of the business name or logo • Mass Appraisal which encompasses techniques that are used when valuing multiple types of real property or personal property using general recognized formulas. While most appraisers choose to specialize in just one area of practice, many appraisers practice in more than one discipline.