There are countless professions on the labor market, which makes it difficult for a job seeker to choose his favorite job and build his career. The key to making the right career decision understands your capabilities and the relevance of your chosen profession in the labor market. Real estate is a fast growing area and the real estate appraiser is an integral part of this sector. Its main task is to estimate the real value of real estate and land, after careful research.
The exact value of the property will be required when buying or selling property, land and obtaining all kinds of loans. In some cases, the job comes with a huge responsibility. For example, during court hearings, a competent opinion of an appraiser will be required to confirm the real value of the property in controversial issues.
Table of Contents
Place of Work
Real estate appraisers work for real estate appraisal companies, mortgage firms, insurance companies, banks, or work privately.
Duties
The main responsibility of the person concerned is property valuation. To accomplish this task, he must carefully inspect the property and assess its real value.
He needs to keep up with the trends that drive the real estate market.
After evaluating all the factors, he should prepare reports. The reports typically include photographs, a description of the property concerned, a site plan and a final estimate.
To determine the exact value of the property, he must carefully study public records of loans and leases.
During the audit, he must take into account the influence of neighboring structures, such as commercial institutions or educational institutions, on the value of the specified property.
To determine the exact value of a property, he must consult with realtors, property owners and contractors to obtain the necessary information about the property.
Education
It is desirable to have a higher technical or construction education. The licensing procedure itself, which is mandatory when evaluating federal-regulated transactions, is quite strict. The following three licenses are common:
- State license of a licensed appraiser.
- General certified real estate appraiser license.
- State certified residential real estate appraiser license.
The State Office for Real Estate Appraisal manages the licensing procedure and also conducts the necessary expertise. Applicants seeking a license must complete an internship with real estate companies or independent appraisers at financial institutions. There are many educational institutions that offer courses in real estate valuation. It is important to become a licensed appraiser, as you will receive the authority to inspect any property.
Extra Skills
The willing candidate must have logical thinking and be friends with mathematics. In-depth knowledge of accounting, management principles, human resources and word processing is encouraged. The appraiser must have the documentation skills to correctly describe the property with all its attractions.
Earnings
No one will be able to provide accurate information on wages. Since many factors affect wages, including the state of labor and the type of assessment, that is, private or public form of employment. Commercial appraisers can earn about 535,500 rubles per year. A person’s work experience can have a huge impact on wage performance. State appraisers are entitled to receive social insurance benefits.
The Future of the Profession
The volume of the area under consideration is a factor that should be closely monitored. Most appraisers specialize in a particular type of appraisal and climb the corporate ladder to become top appraisers or real estate analysts. After sufficient work experience, appraisers can become consultants.
Becoming a real estate appraiser is really difficult. The job requires a candidate to have a deep knowledge of the construction of residential and non-residential property, land cadastral state of the market, financial transactions and legal knowledge, understanding of business terms.
A willing candidate must have his own car and be ready for business trips. Business trips require him to personally visit and visually inspect the land, residential and non-residential premises. A career is suitable for those who have the above qualities and capabilities.