Types of employment for Appraisal Professionals

1. Fee Appraising - The independent fee appraiser provides appraisal services to the buying public and has a number of clients. Fee appraisers are typically one of the following,

a. Residential Appraiser - A residential appraiser appraises single-family residences and two-to-four unit residential properties. Most residential appraisers prepare form appraisals as compared to narrative appraisals. The residential appraiser does not possess the skill set to perform commercial property appraisals.

b. Commercial Property Appraiser - The commercial property appraiser appraises all types of real estate. Some even appraise single-family residences. Most commercial property appraisals are narrative reports as compared to form reports. The commercial property analysis typically includes more emphasis on financial benefits of property ownership and uses more complex mathematical concepts.

2. In-House (Staff) Appraising - There are job opportunities within financial institutions for appraisers to prepare independent appraisal analysis and/or review appraisals on a full time basis as an employee of a financial institution. These positions are available with national, regional, and local lenders as well as with mortgage investors.

3. Review Appraising - Review appraising opportunities exist for independent fee appraisers as well as in-house appraisers. You will frequently find in-house review appraisers at financial institutions or governmental agencies that review the work of fee appraisers. Additionally, these appraisers order and coordinate the appraisal process for the financial institution. This function is considered an important part of risk management for the financial institution or agency. There are opportunities for review appraisers with backgrounds in residential appraisal as well as commercial appraisal.

4. Assessors - Many of the employees of the ad valorem tax assessor's office have real estate appraisal training. The techniques are different (mass appraisal) than the fee appraiser but the concepts are the same.

5. Where an Appraisal Background Can Be Helpful - Mortgage brokers, real estate lenders, real estate brokers, and related positions represent opportunities for individuals with an appraisal background to bring specialized expertise to these positions. Additionally, financial analysts with appraisal training who work in these areas frequently have a competitive advantage in the job market.

· Top Reasons to start an Appraisal Career

· Independence - The ability to schedule your work time to fit your lifestyle.

· Potential - As of December 31, 2013, the number of active real estate appraisers in the U.S. stood at 81, 050. The number of appraisers decreased at an average rate of 3.0 percent per year over the past five years. A broader analysis suggests the rate of decrease could rise sharply over the next 5 to 10 years due to retirements, reduced numbers of new people entering the appraisal profession, economic factors, and greater use of data analysis technologies.

· Ease of Entry - There are minimal educational requirements to become an appraiser and most appraisers are compensated for training during their apprenticeship.

· Technology - The appraisal industry has embraced technological changes at a much faster rate than the majority of the real estate community.

· Variety - Appraisers enjoy a wide variety of assignments within continually changing markets, and no two days are the same.

 

· Indoor / Outdoor - An appraiser has the opportunity to spend time out of the office during the beautiful sun filled days and work in the office when the weather is less appealing.

· Full Time / Part Time - Based on one’s life situation, it is possible to be an appraiser on a full or part time basis.

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