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WHAT
DOES A REAL ESTATE APPRAISER DO?
An
appraiser inspects real property (land and/or structures)
to estimate an accurate value and verify the condition
of the property and its improvements. An appraiser
must have in-depth knowledge of building techniques,
geography, finance, and economics to arrive at a representative
value of the appraised property. In order to secure
a bank loan, the property must have an appraisal by
a licensed appraiser.
WHAT
IS A RESIDENTAIL APPRAISERS STARTING PAY?
A
beginning residential appraiser can make from $24,000
to $30,000 per year or more. If you decide to continue
your education beyond residential appraisal by obtaining
additional certification licenses (i.e., Certified
Residential Appraiser or Certified General Appraiser),
your income levels can increase up to $70,000 or more
annually.
Whether
you're working for the lender, the buyer, or the seller,
appraisers ALWAYS get paid regardless of the result
of the transaction!
HOW
LONG DOES IT TAKE TO BECOME AN APPRAISER?
In order
to receive the proper training to enter the high demand
field of real estate appraising, you must complete
a one hundred twenty hour course of study that has
been approved by the state.
DO
I NEED PRIOR EDUCATION?
You must
be at least 18 years of age and have a high school
diploma or a GED.
WHERE
DOES AN APPRAISER WORK?
Appraisers
often work for themselves, but also work for mortgage
firms, real estate brokers, lenders, corporations,
and government agencies. Anyone investing in real
estate needs accurate and concise information describing
the property, its condition, and its value.
Real estate
appraisal is an excellent additional skill for real
estate salespeople, brokers, home inspectors, or other
professionals who deal in the real estate industry.
IS
THERE A DEMAND FOR REAL ESTATE APPRAISERS?
The real
estate industry supplies a primary need via its residential
and commercial markets, and appraisers are there every
step of the way. Since real estate appraisers are
involved in a primary market, their demand is constant
and always increasing in the marketplace. By becoming
a state certified appraiser, you will have tremendous
opportunities for growth.
HOW
MUCH DOES IT COST TO GET STARTED IN THE INDUSTRY?
If you work
as an employee, you will incur little or no cost.
If you choose to start you own company, then your
total cost will be more significant. However, even
if you prefer to start your own company, the costs
associated with establishing a service firm will be
substantially less than in many other industries.
CAN
APPRAISERS BE HOME INSPECTORS?
Absolutely. The training
for becoming a home inspector will make the appraiser
a much better property inspector. The property's value
(appraiser's function) is directly dependent on the
property's condition (home inspector's job). These
professions complement each other nicely.
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