Let Donaldson be your guide into the wonderful world of appraisal! Start here by learning some basic information about the industry, and in addition we also have a wealth of information on the education required and other details to help you get started.
WHAT AN APPRAISER DOES
A real estate appraiser estimates the value of property for others. Many times, this type of property appraisal might be required such as in the case of a financed sale of real estate. Appraisals can also be ordered for large residential property developments, commercial property, vacant land, industrial property and much more. While a real estate agent would be working on the sales transaction, the appraiser would be developing an objective opinion of value on the subject property.
Appraisers may also 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 arts, antiques, gems and jewelry, and also machinery and equipment.
- Business Valuation – the valuation of business 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.
WHAT SKILLS ARE REQUIRED TO BECOME AN APPRAISER?
Typically appraisers have good analytical skills and like to work with numbers. In addition, appraisers will usually spend a lot of time interacting with clients and writing reports which means good oral and written communications skills are essential. Many of the profession specific skills will be learned in your appraisal pre-license program. This is where our experts come in to serve as your professional guide into the world of appraisal. Our goal is to teach you everything you will need to know, not only to obtain an appraisal license but also to have a long and successful appraisal career!
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 educational hours and experience. In addition, if an individual would like to become state licensed or certified a passing score on an examination is also required. Donaldson is happy to be your guide through this educational process, and our team of experts will offer you step by step guidance on what courses to take and how to complete your appraisal program on your terms.
CAN I HAVE BOTH A REAL ESTATE AND AN APPRAISAL LICENSE?
Yes! There is no current regulation which prohibits practicing as both an appraiser and a real estate agent or broker. In fact, it can be found that adding multiple licenses adds to the expertise and prestige of licensees within the world of real estate. Furthermore, more professional licenses could mean more avenues for income and opportunity. However, it should be noted that one should not expect to serve as both the appraiser and the real estate agent within the same transaction as it could cause a conflict.