How to Become a Real Estate Appraiser

The job of a real estate appraiser is one of the best jobs in the world. It allows you to dictate your own hours, work from home and spend time with your family whenever you want to. The skills of a real estate appraiser incorporate maths and detective skills as well as good interpersonal skills. Independent Real estate appraisers are their own bosses. But how does one become a real estate appraiser. Let’s find out.

The first step is to check with your state’s licensing board to find out if you can obtain a trainee license. You may have to take some classes to be eligible for this. Once you have done this, look around and find out what schools or online courses are available for you to join. A little bit of research will be enough for this. Join the classes and attend them regularly. If you join an online course you will have flexible hours. Obtain your trainee license by passing the required test or undergoing the necessary training. Each state has its own rules regarding this.

After you have obtained your trainee license you have to look for a mentor who will be an experienced appraiser. You can also find a mentor before obtaining a trainee license but this is not necessary. The mentor will teach you and help you to gather the necessary experience hours that you will need to complete. Your mentor will act as the supervising appraiser. Finding a supervising appraiser may be the toughest job in your attempt to become licensed appraiser. You have to find one or more reputed appraisers living near you so that you will be able to easily spend time in the field with them to learn the ropes of the trade.

If a relative or acquaintance is already an appraiser your job will be easy. Otherwise you have to convince someone to take you under their tutelage. The best thing is to get a trainee job in a real estate appraiser’s office. Thus you will become familiar with everything related to real estate appraisal. You can also get a trainee job at a bank. Banks usually hire trainees who have obtained trainee license. This is a great way to learn while you earn. Whether you train under an experienced supervising appraiser or in a bank if you show enthusiasm and interest in your work your supervisor will help you. You should make yourself useful so that they will be encouraged to teach you the tricks of the trade.

Don’t expect to be paid much while you are a trainee. You may even have to work for free. This may discourage you, but you must hang on. Just remind yourself of the benefits you will get after you complete your training. Make sure that you have enough money to support yourself through the training period. You can find a part time job to support you. Infact experienced appraisers also hold second jobs to see them through the lean periods. The number of jobs you get can vary widely with the condition of the real estate market. However even in down markets there is need for appraisal in refinancing deals.

Typically an appraiser has to conduct investigations and analyze data to determine the value of residential, commercial, small commercial, homogeneous farm, and timber properties for tax assessment and real estate purchase and sale purposes. The job also includes inspection of building changes and improvements to determine the effect on property value. The appraiser works both in an office and outdoor environments and is in continuous contact with the public. Physically an appraiser has to sit for extended periods and frequently stand and walk, sometimes on uneven terrain.

After you obtain your license you can start operating independently. Try to develop your network of agents, brokers and lenders. Be in touch with them always. Work hard to build a good reputation and there will be no dearth of jobs. Like in any other job it will take some time to build a reputation and with sincerity, integrity and dedication it won’t take long.

Sources:
U.S. Department of Labour.
Indiana Real Estate Appraiser Licensure and Certification Board
The California Office of Real Estate Appraisers
The Missouri Real Estate Appraisers Commission
New Hampshire Real Estate Appraisers Board
The Michigan Board of Real Estate Appraisers
The Kansas Real Estate Appraisers Board