How to Begin a Career in Real Estate Appraisal
According to the Bureau of Labor Statistics Occupational Handbook, 2010 to 2011 edition, there are 92,400 real estate appraiser and assessor jobs in the United States. Of those jobs 27 percent are self-employed, 31 percent work for real estate firms and 29 percent work for the government. Real estate appraisers assess the value of commercial and residential real estate to determine a listing price for a property or the tax value of the property. To begin a career in real estate appraisal you must begin with a bachelor's degree.
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Things You'll Need
- pre-license classes approved within your state
- a state license
- a mentor to work with at first
Instructions
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Attend a college or university to attain a four year bachelor's degree in a subject like finance, economics, business, real estate law, mathematics or English.
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Pick your federal certification in real estate appraisal. There are limited certification programs for valuing residential property with a loan amount exceeding $250,000, and another for valuing any type of real property with a loan value of less than $250,000, as of the date of publication. There is also an unrestricted program that certifies an appraiser to appraise all real property.
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Attend your certification classes. This includes 200 hours of classroom learning and 2,500 hours of field work that must be accomplished over at least two years for the limited certification. The unrestricted program consists of 300 hours of classroom time and 3,000 hours of field work accumulated over at least 30 months.
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Work toward your state classification. In addition to passing a written exam, candidates must complete 150 classroom hours and at least 2,000 hours of field training that must be obtained over at least one year. The actual coursework of these training programs varies by state.
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Tips & Warnings
Real estate appraisal is a fine lifetime profession. Appraisals are generally done for a fee.
This is an excellent "second" career. There is no barrier based on age.
The work requires no lifting, stooping, or climbing and can be done as part of a team effort.
WARNING... You may discover this is just what you have always wanted to do!
References
- Photo Credit Comstock Images/Comstock/Getty Images
