Do you want to become a real estate appraiser? Homeowners love to inflate the value of their properties to idealistic levels. Investors like to deflate properties' values in hopes of getting a profitable deal. Real estate agents like to adjust prices to increase their odds of making a lucrative sale. Commercial owners like to place a certain figure on their properties to draw higher rents or bids. And other players, like banks, mortgage brokers, inspectors, potential buyers, market analyzers, and the government all like to make their own assumptions about what a property is worth. But when each of them comes up with a different value, who is right? Find a real estate appraisal license school below. Most offer quick career training.
If you receive your real estate appraisal license, you are. Mostly, anyway. Your opinion, although still an opinion, is considered an expert opinion and makes you extremely valuable to all the players in the real estate business. The real estate business is never going away, which means that the opportunities for a career as appraiser will never go away either.
There are three common areas of employment for individuals with a real estate appraisal license: real estate firms, government, or self-employment. When working for a real estate firm, you appraisal of residential and commercial properties opens up the firm's eyes for investment opportunities. If you discover that a property listed for $100,000 is actually worth $200,000, then you set up the firm to make a handsome profit. The government also requires real estate appraisers for a variety of reasons: since the government has a heavy hand in overseeing the legality of real estate transactions and loans, an army of appraisers is needed to discover properties' likely value. Government's most important job taxation also relies heavily on accurate assessments of property value, and therefore makes them dependent on your expert valuation. Finally, if being employed by one of these entities does not suit the image of your career, then you can employ yourself as an independent appraiser. In this role you still might be hired by firms or the government, but you also could accept job opportunities from a variety of other clients. Get your real estate appraisal degree.
One of the added advantages of having a real estate appraisal license will be that you know how to quickly and accurately determine the value of properties, which means that you will also be able to increase the profitability of your personal real estate decisions. Whether simply considering your own next residence or developing your real estate investments, your ability to appraise properties will only help turn your knowledge into power, and your power into more money in your pocket.
Appraisers frequently develop a specialty in one type of real estate. Some become highly acquainted with residential real estate, others with open land, others with commercial buildings, and others with industrial sites. Not only an appraisal license, but a familiarity with the area and type of real estate of interest will guarantee that your opinion is a highly valued opinion in the real estate realm. Make sure that you equip yourself with the knowledge and power that only an appraisal license can. With only a few courses you can obtain your license and become a voice of authority in the often perplexing discussions of what a property's true value actually is. Getting a real estate appraiser license is not as hard as it seems. Research schools below to find the perfect fit.
If you are serious about being an appraiser then the first step is to find the best school to you can obtain your state license. Each state is different so before you enroll make sure the school is approved in your state and learn about your states requirements. Many states require that you take a certain amount of hours for your course before you take the state exam. The schools usually offer a preparation course as well which will give you sample questions and help you pass. Many come into the industry with their real estate brokers license and have a working knowledge of the industry.
Accreditation – The real estate appraisal school needs to be accredited by your state to provide an approved appraisal courses. The school itself doesn’t necessarily need to be accredited.
Costs/Appraisal Fees – Depending on the number of hours, appraisal schools typically charge $400-1000 for the actual program and then $100-300 for preparation. Also many of the schools offer your renewal programs which need to be taken every 1-3 years to keep your license current.
Online Vs. Campus – One of the great things about real estate appraisal schools is many of them offering a 100% online program. This is extremely convenient so you can still work while studying at night for your exam. Most programs can be completed online in less than 6 months. Also if you have a college degree some of the courses will qualify for some of your credits.
School Support – All real estate appraisal schools offer some soft or customer service or support. It is nice if the school you are attending has qualified former appraisers that can help you if you have any questions and they are the ones actually teaching the courses.
The appraisal industry has over 90,000 jobs and approx. 30% were self-employed individual. This allows you to own your own appraisal business and work for realtors or even mortgage companies. Banks also hire real estate appraisers to value the homes they are carrying the loan on. Most of the day you’ll be working out in the field conducting physical inspections of homes or commercial properties.
As an independent real estate appraiser you’ll want to connect with real estate agents. By providing your services at an affordable amount you could be the preferred appraiser for that agent or for the brokerage firm they work for.
As a real estate appraiser during your first year on the job you can expect to make the media income I the US which is between $45,000 to 55,000. After some years of experience the top appraisers make over $100,000. If you are an independent appraiser then your pay depends on the number of appraisals you do each year.
Become a Successful Real Estate Appraiser
Do you have good analytical skills and work well with numbers? Do you like to interact with people? A career as a Licensed Appraiser might be for you! You can get the training you need to start an exciting career in the real estate appraisal field.
Take your career in a new direction. You can get the skills to enter the field of real estate appraisal as a licensed professional. You will be prepared to accurately estimate the value of property and play an important role in an ever-growing industry.
Enter a profession that offers a positive outlook and long-term career potential. Employment of real estate appraisers is expected to grow as levels of real estate activity increase in markets across the country. This will lead to a greater need for licensed professionals to provide accurate and reliable home appraisals. How do you get started? Requirements vary from state to state, but typical steps include:
Step 1 Enroll in an accredited real estate appraisal program.
Step 2 Prepare for the state exam.
Step 3 Pass the state appraisal license examination.
Step 4 Fulfill the required hours of experience.
You can easily get on track to a new career. There are convenient appraisal licensing packages and courses available to suit your needs. Get your real estate appraisers license today.
Real estate Appraisal Resources:
Appraisal Institute - Updated January 4, 2019
American Society of Appraisers - Visited December 20, 2018
BLS Real Estate Appraiser - Visited December 22, 2018