How to Become an Appraiser
An appraiser develops and reports an opinion of value on a specific type of property. Appraisers may opt to specialize in various disciplines such as:
- Real Property Appraisal is the valuation of real estate. Real property appraisers can choose specialty practices such as residential, commercial, or agricultural.
- Personal Property Appraisal encompasses the valuation of all types of personal property such as fine and decorative arts, antiques, gems and jewelry, and machinery and equipment.
- Business Valuation is the valuation of businesses and includes all tangible and intangible assets ranging from the value of equipment to the value of a business name or logo.
- Mass Appraisal encompasses the valuation of multiple types of real property or personal property using generally recognized formulas and statistical models.
While most appraisers choose to specialize in just one area of practice, many appraisers practice in more than one discipline.
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What skills are required to become an appraiser?
All appraisers must have good analytical skills and work well with numbers. In addition, appraisers spend much time interacting with clients and writing reports, so good oral and written communications skills are essential.
Does the government regulate appraisers?
Currently, the government regulates only real property appraisers. Regulatory authority currently rests with the individual states and territories that issue licenses and certifications to real property appraisers. In addition, each state appraiser regulatory agency is responsible for disciplining appraisers.
At this time, there are no immediate plans for the regulation of appraisers who specialize in other types of property.
How do I become an appraiser?
The process of becoming an appraiser differs among the various appraisal disciplines. Real property appraisers are required to have a certain number of hours of education and experience. In addition, if an individual would like to become state licensed or certified in real property or become “designated” by an appraiser organization, they must also pass a comprehensive examination.
Do you want more information?
Download our How to Enter the Appraisal Profession brochure!