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Summary Report for:
13-2021.02 - Appraisers, Real Estate

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

Sample of reported job titles: Appraiser, Certified Real Estate Appraiser, Certified Residential Real Estate Appraiser, Commercial Real Estate Appraiser, Real Estate Appraiser, Real Property Appraiser, Residential Fee Appraiser, Residential Real Estate Appraiser, Staff Appraiser, Valuation Consultant

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Tasks  |  Technology Skills  |  Tools Used  |  Knowledge  |  Skills  |  Abilities  |  Work Activities  |  Detailed Work Activities  |  Work Context  |  Job Zone  |  Education  |  Credentials  |  Interests  |  Work Styles  |  Work Values  |  Related Occupations  |  Wages & Employment  |  Job Openings  |  Additional Information

Tasks

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

  • Accounting software — CPR International GeneralCOST Estimator
  • Analytical or scientific software — a la mode WinTOTAL; Construction Management Software ProEst; MicroSolve CAMA; WinEstimator WinEst (see all 12 examples)
  • Calendar and scheduling software — Govern Software Land and Permits Management System
  • Data base user interface and query software — Ascend Property Assessment; eTrac; Softree Technical Systems Terrain Tools; Visual PAMSPro (see all 11 examples)
  • Desktop publishing software — ACI Appraiser's Choice
  • Financial analysis software — CPR Visual Estimator; Manufacturing Technology Costimater; Real Estate Center Caparate Calculator; RealData Comparative Lease Analysis (see all 11 examples)
  • Graphics or photo imaging software — Bradford ClickFORMS; Wilson's Computer Applications RealEasy Photos Plus
  • Internet browser software — Web browser software
  • Map creation software — Apex MobileSketch; Emerald Data Deed-Chek; Greenbrier Graphics Deed Plotter; Informatik MapDraw Deed Mapper (see all 7 examples)
  • Office suite software — Microsoft Office
  • Presentation software — Microsoft PowerPoint Hot technology
  • Spreadsheet software — Microsoft Excel Hot technology
  • Word processing software — Concierge Systems Report Concierge; Microsoft Word; ValueTech Report Builder

Hot technology Hot Technology — a technology requirement frequently included in employer job postings.

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Tools Used

  • Carbon monoxide analyzer — Carbon monoxide detectors
  • Desktop computers
  • Electronic charts or maps or atlases — Appraisal, mapping, and comparison data reporting systems; Electronic maps; Mapping or location-based analysis systems; Real estate mapping and property description systems (see all 7 examples)
  • Laser measuring systems — Handheld distance meters; Laser measuring devices; Ultrasonic distance measurers
  • Notebook computers — Laptop computers
  • Personal digital assistant PDAs or organizers — Personal digital assistants PDA

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Knowledge

  • English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Building and Construction — Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
  • Customer and Personal Service — Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Law and Government — Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Administration and Management — Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Geography — Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.

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Skills

  • Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
  • Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Writing — Communicating effectively in writing as appropriate for the needs of the audience.
  • Speaking — Talking to others to convey information effectively.
  • Mathematics — Using mathematics to solve problems.
  • Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Time Management — Managing one's own time and the time of others.
  • Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

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Abilities

  • Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Comprehension — The ability to read and understand information and ideas presented in writing.
  • Near Vision — The ability to see details at close range (within a few feet of the observer).
  • Written Expression — The ability to communicate information and ideas in writing so others will understand.
  • Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
  • Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
  • Speech Recognition — The ability to identify and understand the speech of another person.
  • Category Flexibility — The ability to generate or use different sets of rules for combining or grouping things in different ways.
  • Mathematical Reasoning — The ability to choose the right mathematical methods or formulas to solve a problem.
  • Speech Clarity — The ability to speak clearly so others can understand you.
  • Far Vision — The ability to see details at a distance.
  • Flexibility of Closure — The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
  • Information Ordering — The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
  • Number Facility — The ability to add, subtract, multiply, or divide quickly and correctly.
  • Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
  • Selective Attention — The ability to concentrate on a task over a period of time without being distracted.

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Work Activities

  • Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
  • Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
  • Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
  • Judging the Qualities of Things, Services, or People — Assessing the value, importance, or quality of things or people.
  • Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
  • Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
  • Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
  • Estimating the Quantifiable Characteristics of Products, Events, or Information — Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
  • Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
  • Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
  • Inspecting Equipment, Structures, or Material — Inspecting equipment, structures, or materials to identify the cause of errors or other problems or defects.
  • Scheduling Work and Activities — Scheduling events, programs, and activities, as well as the work of others.
  • Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

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Detailed Work Activities

  • Appraise property values.
  • Prepare financial documents, reports, or budgets.
  • Analyze market conditions or trends.
  • Evaluate condition of properties.
  • Examine financial records.
  • Gather financial records.
  • Verify accuracy of records.
  • Create images of data, locations, or products.
  • Estimate costs of goods or services.
  • Testify at legal or legislative proceedings.

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Work Context

  • Telephone — 83% responded “Every day.”
  • Electronic Mail — 90% responded “Every day.”
  • Duration of Typical Work Week — 79% responded “More than 40 hours.”
  • Importance of Being Exact or Accurate — 50% responded “Extremely important.”
  • Freedom to Make Decisions — 55% responded “A lot of freedom.”
  • Time Pressure — 45% responded “Every day.”
  • Structured versus Unstructured Work — 45% responded “A lot of freedom.”
  • Outdoors, Exposed to Weather — 45% responded “Once a week or more but not every day.”
  • Contact With Others — 50% responded “Contact with others most of the time.”
  • Indoors, Environmentally Controlled — 70% responded “Every day.”
  • Face-to-Face Discussions — 47% responded “Every day.”
  • In an Enclosed Vehicle or Equipment — 45% responded “Every day.”
  • Spend Time Sitting — 75% responded “More than half the time.”
  • Importance of Repeating Same Tasks — 35% responded “Very important.”
  • Frequency of Decision Making — 40% responded “Once a week or more but not every day.”
  • Level of Competition — 55% responded “Highly competitive.”
  • Letters and Memos — 50% responded “Once a week or more but not every day.”
  • Impact of Decisions on Co-workers or Company Results — 40% responded “Important results.”
  • Deal With External Customers — 45% responded “Important.”

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Job Zone

Title Job Zone Four: Considerable Preparation Needed
Education Most of these occupations require a four-year bachelor's degree, but some do not.
Related Experience A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Job Training Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Job Zone Examples Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, graphic designers, chemists, art directors, and cost estimators.
SVP Range (7.0 to < 8.0)

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Education


Percentage of Respondents
Education Level Required
60   Bachelor's degree
25   Associate's degree
10   Some college, no degree

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Credentials

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Interests

Interest code: ECR

  • Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
  • Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
  • Realistic — Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.

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Work Styles

  • Integrity — Job requires being honest and ethical.
  • Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
  • Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
  • Independence — Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
  • Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
  • Persistence — Job requires persistence in the face of obstacles.
  • Initiative — Job requires a willingness to take on responsibilities and challenges.
  • Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high stress situations.
  • Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
  • Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
  • Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
  • Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.

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Work Values

  • Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
  • Support — Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
  • Achievement — Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.

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Wages & Employment Trends

Median wages data collected from Appraisers and Assessors of Real Estate.
Employment data collected from Appraisers and Assessors of Real Estate.
Industry data collected from Appraisers and Assessors of Real Estate.

Median wages (2015) $24.93 hourly, $51,860 annual
State wages Local Salary Info
 
Employment (2014) 86,000 employees
Projected growth (2014-2024) Average (5% to 8%) Average (5% to 8%)
Projected job openings (2014-2024) 20,500
State trends Employment Trends
 
Top industries (2014)

Source: Bureau of Labor Statistics 2015 wage data external site and 2014-2024 employment projections external site. "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "Projected job openings" represent openings due to growth and replacement.

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Job Openings on the Web

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Sources of Additional Information

Disclaimer: Sources are listed to provide additional information on related jobs, specialties, and/or industries. Links to non-DOL Internet sites are provided for your convenience and do not constitute an endorsement.

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