Real Estate Appraiser

Your Fit

Income

$69K

Preparation

Considerable

Growth

Definition
Your fit with this career
How much they earn
What they do
Job satisfaction
How to become

What is a Real Estate Appraiser?

A Real Estate Appraiser is a professional who assesses the value of properties, including residential and commercial real estate. This valuation is crucial for various transactions, including sales, mortgages, and property tax assessments.

Sample job titles:

Appraiser, Assessor, Real Estate Appraiser, Valuation Consultant

Your test results

Why this fit score?

The fit report shows your areas of fit and misfit with Real Estate Appraiser.

Fit report

Test scores

The scores report summarizes what we learned about you. It shows your results on everything measured in the career test.

Scores report

How much does a Real Estate Appraiser earn

Income data is from Employment and Social Development Canada's 2024 wage tables. The closest match for this career in Canada’s occupational classification system is Real Estate Appraiser.

Bottom 10%	Bottom 25%	Median (average)	Top 25%	Top 10%
$54K per year	$58K per year	$69K per year	$88K per year	$108K per year

Compared to other careers: Median is $3.58K above the national average.

See income by country/state/province

What does a Real Estate Appraiser do?

Work environment

Real Estate Appraisers often split their time between an office setting, where they conduct research and prepare reports, and field work, where they inspect properties. They may be self-employed, work for real estate appraisal firms, or be employed by government agencies. The job involves travel to properties and may require irregular hours, especially to accommodate clients' schedules.

Quick task list

Inspects properties to assess condition and features.
Conducts research on local property markets and comparable properties.
Prepares detailed reports on property values.
Keeps up to date with real estate market trends.
Communicates with clients and other professionals, such as real estate agents and lawyers.

See full list of tasks with expert relevance ratings

Areas of specialization

Residential Appraisal: Specializing in appraising homes and small residential properties.
Commercial Appraisal: Focusing on the valuation of commercial properties, such as office buildings or shopping centers.
Land Appraisal: Assessing the value of undeveloped land.
Property Tax Appraisal: Specializing in appraisals for property tax purposes.
Forensic Real Estate Appraisal: Providing expert appraisals for legal purposes, such as divorce settlements or estate disputes.

Description

Real Estate Appraisers play a crucial role in the property market, providing objective assessments that influence financial decisions. Their work requires a mix of on-site inspections and office-based research and report writing. They must be knowledgeable about property law, construction, and local real estate markets.

Attention to detail is essential in this profession, as appraisers need to consider numerous factors that affect property value, including location, condition, and market trends. They must also have strong analytical skills to interpret market data and make accurate valuations.

Real Estate Appraisers often work independently, requiring self-motivation and good time management. They must also have strong communication skills to interact effectively with clients and other stakeholders in the real estate industry.

Job Satisfaction

Sources of satisfaction

The variety of work, including both field inspections and research.
The intellectual challenge of analyzing and interpreting market data.
The significant impact of their work on financial decisions and property markets.

You might make a good Real Estate Appraiser if you are...

Detail-oriented, with a keen eye for noticing property features and conditions.
Analytical, able to assess data and trends to determine property values.
Independent and self-motivated, capable of managing your workload and schedule.
Good at communication, both in writing detailed reports and in person with clients.
Interested in real estate and the factors that influence property values.

Pros:

Diverse work locations, from office settings to various property sites.
Independent work with a significant degree of autonomy.
Critical role in the real estate industry with the potential for high earnings.

Cons:

The need to keep up with changing market trends and regulations.
Irregular hours and potential for high-pressure deadlines.
The responsibility of making high-stakes property value assessments.

How to become a Real Estate Appraiser

Typical education

Becoming a Real Estate Appraiser typically requires a bachelor's degree, especially for more complex property appraisals, amounting to about 4 years of post-secondary education. Additionally, licensure is required, which involves specific coursework, exams, and a certain number of hours of fieldwork.

High school preparation

Courses:

Mathematics, especially statistics and geometry, for data analysis.
Economics to understand market forces.
Computer Science for skills in data analysis and report writing.

Extra-Curricular Activities:

Joining a real estate or business club.
Participating in internships or shadowing opportunities in real estate firms.
Engaging in volunteer work that involves research and data analysis.

Preparation after high school

Obtaining a bachelor's degree in a field such as real estate, finance, or economics.
Completing appraisal-specific coursework and obtaining a license.
Gaining experience through internships or apprenticeships with licensed appraisers.

More resources

Appraisal Institute - Offers education and resources for real estate appraisers.
International Association of Assessing Officers (IAAO) - Provides resources and training for property appraisal and assessment.
National Association of REALTORS® - Includes information on the real estate industry and professional development.
The Appraisal Foundation - Sets standards and qualifications for real estate appraisers in the United States.

Similar careers

Similarity is based on what people in the careers do, what they know, and what they are called. The process of establishing similarity lists is described in this white paper.