How to Become a Home Appraiser

A Home Appraiser is a person who gives an estimated value for residential property. Usually, lending companies and investors seek the help of home appraisers, or HAs, for purchasing or refinancing purposes. They are also required to respond to any formal tax or any court related litigation. The legal body considers the description of the property given by a certified and licensed HA as a reference.

HAs can obtain certification for either general (homes or any commercial buildings) or residential (family homes). In order to become a HA, you should have some common personal skills. Math skills, including percentages, are nice to have. Furthermore, HAs are usually their own supervisor. Many of them are freelancers so if you do not like having to appear to corporate or organizational meetings, appointments with your manager and team deadlines by lunchtime, this is another positive attribute to this field. You can also work for mortgage firms, real estate brokers or lenders.

Educational Requirements

You will need to have a "trainee license." You can find out more information at your local state licensing board . They will have a list of classes, requirements and certifications required. You will be required to sign up for courses and prove yourself by passing a test. Every state has their individual appraiser licensing requirements.

Obtaining a License

After you have your license, seek out an appraiser to work with. You need a mentor who will be your "supervising appraiser." This person will and should offer you strategic insight regarding this profession. Become a sponge and take notes. You may need more than one "supervising appraisers" to march you through this process. Not only do they offer powerful verbal insight, they will be responsible for signing off on your paperwork.

  • You should acquire a trainee opening at a real estate appraiser's location.

Your Career

Do not underestimate the power of banks because they don't mind training new appraisers. It does not matter how green you are, they want you. It is a wonderful setting to gain some exposure and experience. Form good relationships with a few HAs in the area. They could be a future partner. The networking never stops. You need to seek out a loan broker. The reality of your income is that it will take some time to build up your clientele and income.

Important Career Advancement Tips

Most HAs are happy with their jobs because they are freelancers. The average salary of a home appraiser was about $75,000 in 2009. With our current economic climate, it is difficult to find work in this employment sector because it is directly tied to the housing industry.

In order to advance in this career, you will need to be available for questions and be personable. Additionally, you should get licensed for government appraisal reports as well as other types of appraisal to expand your market. Be sure that your work is good and respond quickly when anyone has questions on your report to keep your reputation in tact.