Real Estate Appraisal Course
Hundreds of real estate transactions occur every day and many thousands every week. These include new listings, purchases and refinances, and many require the services of a real estate appraisers. With our convenient home study real estate appraisal course you can prepare yourself for a career in this every growing field. The real estate appraisal course can teach you:
- Zoning principles
- To recognize construction and lot problems
- Improvement analysis
- Finding comparables
- Doing detailed real estate inspections
- Prepare worksheets
- Chart measurements
- Utilize photos
Our course also includes an on-site appraisal, with instructions showing how to create professional quality appraisal reports. It also teaches how to use the nationally recognized Uniform Residential Appraisal Report (URAR), important for any appraiser. Imagine: by graduation, you could have some official documents for your portfolio, serving as "practical" samples of your appraisal skills.
So get start today and watch your real estate career blossom. Simply request a free no obligation information package to find out more about our home study real estate appraisal course.
The primary function of a real estate appraiser is to determine how much a residential or commercial piece of property is worth before it is put up for sale. Real estate appraisals are also needed before a property can be refinanced, assessed property tax, insured or further developed. If you choose a career as a real estate appraiser, there are several steps you would go through before determining the final value of a property. These include researching the value of similar homes or businesses in the area, reviewing public records for a legal description of the property, taking pictures inside and outside of the property and other related tasks.
In addition to evaluating the property itself, real estate appraisers make note of characteristics surrounding the house or commercial development. For example, if a home is built next to a busy airport, noise from the constant landing and taking off of planes could decrease the property value. In the same vein, property values can be increased by such things as an excellent school system and low crime in the community.
What Type of Education is Needed to Become a Real Estate Appraiser?
The minimum education that you need to become a real estate appraiser varies depending on your state of residence. In general, you need at least an associate's degree to specialize in residential appraising and a bachelor's degree if you want to work primarily with commercial building appraisal. According to a comprehensive report published by the Bureau of Labor Statistics (BLS), the majority or people employed as real estate appraisers in 2010 had at least a bachelor's degree. There are also apprenticeship and certification requirements.
While completing your formal education to become a real estate appraiser, your coursework will focus on real estate law, general business law, economics, communication, computer science and more. You will also complete courses that instruct you on specific appraisal skills. Once you have completed your coursework and completed the minimum apprenticeship hours required by your state, you qualify to take one of three certification exams. These exams are divided into residential and commercial appraisals as well as by the maximum dollar value you are allowed to assign to a property.
What is the Job Outlook and Typical Pay for Real Estate Appraisers?
Real estate appraisal is a highly competitive career field. It is also one that has a slower than average anticipated annual growth rate at just seven percent. The primary reason for this is the housing market crisis that went along with the most recent economic recession. The market has been slow to bounce back, and as a result there are fewer people making offers on new homes and less need for appraisals. However, this is a career that is very dependent on market conditions. As the economy continues to recover, the housing market is expected to follow. When that happens, the need for skilled real estate appraisers will grow along with it.
In May of 2010, while the United States was still in the midst of a recession and housing market crisis, the average real estate appraiser earned an annual salary of $48,500. The salary range in this field is a wide one, with the lowest 10 percent of real estate appraisers earning a wage of $30,000 a year and the top 10 percent earning more than $90,000 annually.