Career Information | Appraisal
An appraiser evaluates real properties to determine their value for sale or purchase.
Imagine a career where important financial decisions are made based on your expertise. As an appraiser, you will do research on the location of a property and identify comparable properties in order to determine your opinion of value and develop your appraisal report. Your report will be used by individuals such as real estate agents or mortgage lenders, and companies such as insurance agencies when making decisions about selling, financing or insuring the property.Did you know?
- Appraisers can choose to specialize in specific types of appraisals such as commercial, farm, industrial, or development analysis.
- Most lenders consider an appraised value "expired" after six months.
- Appraisal reports help to determine the property taxes individuals pay.
Appraisal is a growing industry!
Look at the facts according to the US Department of Labor's national statistics:- Average income: $49,610
- 241,000 jobs available in 2002
- Annual openings: 34,000
- 23% job growth rate
- 21.1% are self-employed
- 16.6% work part-time
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- How long will it take me to get started?
- Will I be able to find a job?
- How much will I work each week?
- How much money can I make?
- How far can I go?
- Where can I get more information?
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How long will it take me to get started?
You will take several weeks of necessary courses to prepare you for this career. After you have completed your basic courses, you will work with an established appraiser as their apprentice for a minimum of two years and continue to take courses until you have obtained the necessary number of experience hours to take the required appraisal licensing exam. -
Will I be able to find a job?
There are many types of companies such as banks, insurance agencies and mortgage lenders that will always rely on appraisers to estimate the value of real estate. As with any job you must seek out the opportunities. Most appraisers choose to work in real estate, but you may also choose to specialize in appraising items such as jewelry or antiques, giving you many options. -
How much will I work each week?
As an appraiser, you may choose a traditional 40-hour-per-week job working as a staff appraiser for a real estate agency, financial company or government agency. You also could choose to work as an independent fee appraiser working on a contract basis, allowing you to determine the number of hours you work each week. The more you work, the more successful you will be. -
How much money can I make?
Appraisal will offer you control over your income and nearly unlimited earning potential. You may choose to hold a salaried position, such as with a government agency, real estate agency, or financial company, or you may choose a position which pays you per appraisal. You can make between $100 and $350 or more per appraisal depending on the overall size or value of the property being evaluated. The more appraisals you complete the greater your income. -
How far can I go?
How far you take your career is up to you. As an appraiser, you will experience variety and opportunity for advancement. After you complete your required term as an apprentice, you may choose to progress through several levels of certification, broadening the size and type of property for which you may appraise. You may also open your own appraisal firm and bring in other appraisers and apprentices. -
Where can I get more information?
There are many resources available to assist you in your decision to become an appraiser. For a personal touch, we recommend calling 1-888-HONDROS to speak with one of our career specialists. Or, you can visit one of these Web sites.
Ohio Division of Real Estate and Professional Licensing
National Appraisal Foundation
Bureau of Labor and Statistics