Residential Appraiser
A Residential Appraiser is responsible for determining the value of properties such as homes or apartments by conducting on-site evaluations, comparing similar properties, and analyzing market trends.
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Sample Job Descriptions for Residential Appraiser
Below are the some sample job descriptions for the different experience levels, where you can find the summary of the role, required skills, qualifications, and responsibilities.
Junior (0-2 years of experience)
Summary of the Role
A Junior Residential Appraiser is responsible for assessing the value of residential properties for various purposes such as sales, mortgages, and tax assessments. The role involves conducting onsite inspections, analyzing real estate market trends, and preparing detailed reports on property values.
Required Skills
- Familiarity with appraisal software and tools.
- Basic understanding of real estate and mortgage lending industries.
- Proficient in Microsoft Office Suite, especially Excel.
- Ability to work independently and as part of a team.
- Time management and ability to meet deadlines.
Qualifications
- Bachelor's degree in Real Estate, Finance, Economics, or a related field.
- State licensure as a trainee appraiser or willingness to obtain.
- Strong analytical and mathematical skills.
- Excellent observation and attention to detail.
- Good communication and interpersonal abilities.
Responsibilities
- Conduct onsite inspections of residential properties to gather necessary data.
- Research and analyze property sales, rental data, and current market trends.
- Utilize valuation techniques and software to determine property values.
- Prepare and maintain accurate and detailed appraisal reports.
- Collaborate with real estate agents, lenders, and clients to provide valuation services.
- Assist senior appraisers with complex property appraisals.
- Adhere to professional appraisal methodologies and ethics.
- Stay updated with the latest industry regulations and licensing requirements.
Intermediate (2-5 years of experience)
Summary of the Role
Seeking a detail-oriented and analytical Residential Appraiser to conduct home valuations and property appraisals in accordance with local real estate market trends and regulatory guidelines. This role requires a professional individual who can efficiently perform appraisals and effectively communicate values to clients and stakeholders.
Required Skills
- Analytical skills to assess home values and market trends.
- Attention to detail for accurate appraisal report completion.
- Proficiency with appraisal-related software and tools.
- Excellent verbal and written communication skills.
- Self-motivated with the ability to work independently.
Qualifications
- A current state appraiser certification or licensure as required.
- 2-5 years of experience in residential property appraisals.
- Strong knowledge of local real estate markets and familiarity with property types.
- Experience with appraisal software and technologies related to property valuation.
- Proven track record of producing comprehensive and reliable appraisal reports.
Responsibilities
- Conduct thorough property appraisals and generate accurate and timely appraisal reports.
- Analyze and interpret market trends and comparable sales to determine property values.
- Adhere to the Uniform Standards of Professional Appraisal Practice (USPAP) and maintain compliance with state and federal regulations.
- Collaborate with real estate agents, lenders, and clients to clarify valuation-related questions and provide exceptional customer service.
- Review and utilize various sources of data, including public records and MLS listings, to support valuation conclusions.
- Actively maintain awareness of local real estate market conditions and factors affecting property values.
- Regularly update job knowledge by participating in educational opportunities, reading professional publications, and maintaining professional networks.
Senior (5+ years of experience)
Summary of the Role
A senior Residential Appraiser is responsible for the independent assessment and valuation of residential properties. This role involves analyzing market trends, inspecting properties, and preparing detailed reports that influence financial and investment decisions.
Required Skills
- Strong analytical and critical thinking skills for high accuracy in valuations.
- Attention to detail and meticulous report-writing ability.
- Excellent communication and interpersonal skills to effectively interact with clients and industry professionals.
- Time management skills to handle multiple appraisals simultaneously while meeting deadlines.
- Up-to-date knowledge of real estate law, standards, and regulations.
- Leadership skills to mentor team members and contribute to departmental objectives.
Qualifications
- Certified Residential Appraiser license with a minimum of 5 years of experience in residential appraisal.
- Bachelor's degree in Real Estate, Finance, Economics, or a related field is preferred.
- In-depth knowledge of the local real estate market and property valuation principles.
- Strong analytical skills with the ability to interpret and utilize data effectively.
- Proficient in appraisal software and tools, including GIS, databases, and MS Office suite.
- Valid driver's license and the ability to travel to different residential locations.
Responsibilities
- Conduct comprehensive appraisals of residential properties, considering factors such as location, market trends, and property conditions.
- Prepare detailed appraisal reports for clients, which include photographs, descriptions, and comparable sales analysis.
- Consult with homeowners, realtors, and other stakeholders to gather necessary property data and discuss appraisal results.
- Keep abreast of local real estate market trends and changes in regulations that may impact property values.
- Maintain records of each appraisal conducted, and update valuation databases or systems as needed.
- Provide expert witness testimony in legal proceedings related to property valuations when required.
- Mentor junior appraisers, providing guidance on complex appraisal methodologies and procedures.
- Collaborate with other appraisers to ensure consistent and accurate valuation across the region.
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