What does a Appraiser do?
|Citation||Retrieved in 2017 from BLS.org|
An appraiser determines the value of property, such as automobile, real estate, or personal claims. They are usually called when one reports damage, injury, or decreased coverage or when buying or selling merchandise or property.
The appraisal industry is very diverse because those entering this career field can specialize in a variety of areas. The primary goal is to provide monetary value to merchandise, damage, property, or compensation for clients or companies. Here are examples of common areas of practice: real estate, automobile, and healthcare industries.
How to Become an Appraiser
You can become an appraiser with an associate’s degree, however for more advanced positions a bachelor’s degree is preferred. Degrees can vary pending on the type of area you want to focus on; examples may include finance, business, real estate, or auto body.
Many states also require appraisers to get licensed in the state in which they reside or have a certification to practice. Be sure to research your state’s requirements. In addition, there are many associations and organizations related to differing appraisal areas providing networking and learning opportunities. An example is the Appraisal Institute, an association of professional real estate appraisers.
Job Description of an Appraiser
Real estate appraisers are probably the most abundant in this industry, they are responsible for assessing commercial or residential property that individuals want to sell or buy. They assess square footage, amenities, land, and anything associated with the value of the property involved.
Automobile companies also hire appraisers to determine damages to vehicles caused by an accident. These appraisers often travel to the involved vehicle and take pictures and assess how much the insurance company should pay for repair costs for the damages. Other appraisers work in the healthcare industry for insurance companies or doctor’s offices processing medical claims from doctors and hospitals and determine what will be covered and what will not be covered.
Appraisers work outside and are traveling most often to various locations within their community. Hours can vary and may be required to work evenings and weekend to accommodate request by clients. Many times they are at the mercy of the claimants schedules. They can work for government or state agencies, insurance carriers, or other enterprises that require appraisals. Appraisers must work well under pressure, problem solve, and be analytical thinkers. They must also be detailed oriented and have strong written and verbal communication skills. Many times appraisers have to write or communicate their findings in reports or to the claims adjuster seeking information for compensation request.