What does a Commercial Real Estate Appraiser do?
Learn all about Commercial Real Estate Appraiser duties, skills and much more. Get expert advice on how to become a Commercial Real Estate Appraiser.
Published 4 min read
A commercial real estate appraiser is a professional who provides an estimate of the value of a piece of commercial real estate.
Commercial Real Estate Appraiser job duties include:
- Research and analyze property data, including sales data, property tax records, zoning regulations, and market trends
- Inspect properties to determine their condition and value
- Develop appraisals of commercial properties, including office buildings, retail centers, warehouses, and industrial parks
- Prepare reports detailing the findings of the appraisal process
- Present appraisals to clients, including property owners, investors, lenders, and developers
- Negotiate fees for services rendered
- Manage a team of assistants during the appraisal process
- Stay abreast of changes in the real estate market and economy
- Adhere to ethical standards set forth by professional organizations
Commercial Real Estate Appraiser Job Requirements
To become a commercial real estate appraiser, you will need at least a bachelor's degree in real estate appraisal, although many employers prefer candidates with a master's degree. You will also need to be certified by the Appraisal Institute or a similar organization. In most states, you will need to have at least two years of experience working in the field before you can obtain a license.
Commercial Real Estate Appraiser Skills
- Analytical skills
- Research skills
- Writing skills
- Organizational skills
- Communication skills
- Problem-solving skills
- Attention to detail
- Time management skills
- Interpersonal skills
- Critical thinking skills
How to become a Commercial Real Estate Appraiser
A commercial real estate appraiser is someone who provides an estimate of the value of a piece of property, usually before it is bought or sold. The estimate is based on a number of factors, including the property's location, its size, and the current market conditions.
To become a commercial real estate appraiser, you will need to have a strong background in mathematics and economics. You will also need to be familiar with the local real estate market and have a good understanding of the various factors that can affect property values. In addition, you will need to be licensed by the state in which you plan to work.
If you are interested in becoming a commercial real estate appraiser, there are a few things you can do to get started. First, you can take some courses at a local community college or online that will give you the basic skills you need. You can also look into internships or apprenticeships with established appraisal firms. This can give you the opportunity to learn from experienced professionals and get your foot in the door of the industry.
Once you have the necessary skills and experience, you will need to obtain a license from the state in which you plan to work. Each state has different requirements for licensure, so be sure to check with your state's licensing board for more information. Once you are licensed, you can start your own appraisal business or work for an existing firm.