How Does a Residential Real Estate Appraiser Spend a Workday?
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Early Morning
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Since most residential real estate appraisers work independently, the trip to the office in the morning often is as easy as rolling a chair to the desk from the breakfast table. Paperwork is an integral, important piece of appraisal work and is best reviewed first thing in the morning when the appraiser is rested. After reviewing the previous day's reports and making the final adjustments, the appraiser may return calls, check email and read the morning paper with a keen eye on the real estate section.
Mid-morning
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Real estate appraisers mostly work on appointments set by banks, mortgage companies and Realtors. The appraiser collects the tools of the trade before heading to the first appointment. These include a camera, measuring tape, appraisal forms and a GPS or street map. Residential real estate appraisers are detail oriented and take time assessing a property inside and outside as well as the comparable properties nearby. Some appraisers utilize high-tech tools to measure and record their findings, while others prefer the notepad and pencil.
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Lunch
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As with most entrepreneurs, meals are used for productive business meetings with clients and potential customers. A business owner must always be looking for new sources of revenue. With no lunch dates, an appraiser may eat on the run and add another unit to the day through the lunchtime period, or use the time to read up on industry news.
Mid-day
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The afternoon provides time to do another appraisal. A thorough appraisal of a residential home takes an appraiser between 2 and 4 hours. Looking for damage, measuring each room and taking pictures inside and outside of the house takes up the bulk of the inspection time. Combing the neighborhood for similar dwellings and checking with the city for zoning and flood plain maps, tax valuation rates and recorded plats for the properties consumes the rest of the time invested in an appraisal.
End of Day
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Writing reports when the visit is still fresh is important for appraisers. Back at the office, the appraiser writes the first draft of the appraisal report to be submitted to the client. Digital pictures must be downloaded and printed and other municipal documents organized with the file. After the reports are finished, an appraiser will respond to calls and emails that came in during the day and prepare the invoices for the jobs done that day.
After Hours
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As a member of the local business community, appraisers participate in the local Chamber of Commerce, industry trade groups and other civic organizations. This is often where new business is cultivated and often requires an evening appearance at a dinner or meeting. Appraisers also must keep up with changing codes, new technology that can streamline their work and upgraded certifications that call for continuing education. This is often achieved through online courses in the evening.
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