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What do Appraisers, Real Estate do?

Appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.

What are the Main Tasks of Appraisers, Real Estate?

  • Prepare written reports that estimate property values, outline methods by which the estimations were made, and meet appraisal standards.
  • Compute final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential.
  • Search public records for transactions such as sales, leases, and assessments.
  • Inspect properties to evaluate construction, condition, special features, and functional design, and to take property measurements.
  • Photograph interiors and exteriors of properties to assist in estimating property value, substantiate findings, and complete appraisal reports.
  • Evaluate land and neighborhoods where properties are situated, considering locations and trends or impending changes that could influence future values.
  • Obtain county land values and sales information about nearby properties to aid in establishment of property values.
  • Verify legal descriptions of properties by comparing them to county records.
  • Check building codes and zoning bylaws to determine any effects on the properties being appraised.
  • Estimate building replacement costs using building valuation manuals and professional cost estimators.
  • Examine income records and operating costs of income properties.
  • Interview persons familiar with properties and immediate surroundings, such as contractors, home owners, and realtors, to obtain pertinent information.
  • Examine the type and location of nearby services, such as shopping centers, schools, parks, and other neighborhood features, to evaluate their impact on property values.
  • Draw land diagrams that will be used in appraisal reports to support findings.
  • Testify in court as to the value of a piece of real estate property.
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