Commercial Appraiser
A Commercial Appraiser evaluates the value of commercial properties and business assets, often for tax or transaction purposes.
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Sample Job Descriptions for Commercial 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
As a Junior Commercial Appraiser, you will be responsible for assisting in the valuation of commercial properties for a variety of purposes, including sales, financing, taxation, and development. You will work under the supervision of a senior appraiser, learning to apply valuation techniques and adhering to standards while gaining field experience.
Required Skills
- Analytical thinking
- Problem-solving
- Written and verbal communication
- Research
- Data analysis
- Time management
- Basic knowledge of appraisal software and tools
Qualifications
- Bachelor's degree in finance, economics, real estate, or a related field.
- Basic understanding of real estate and valuation principles.
- Strong analytical skills and attention to detail.
- Good communication and interpersonal abilities.
- Ability to work with databases and Microsoft Office Suite.
- Willingness to pursue appraisal certifications and designations.
- Valid driver's license and reliable transportation to travel to property sites.
Responsibilities
- Assist in collecting and analyzing data on commercial properties.
- Participate in site inspections and gather relevant property information.
- Learn and apply appropriate valuation methodologies under supervision.
- Prepare sections of appraisal reports and assist in the research and writing process.
- Work with assessment databases and appraisal software under guidance.
- Maintain knowledge of current market trends and economic conditions affecting commercial real estate.
- Attend training sessions and shadow experienced appraisers to improve appraisal skills.
Intermediate (2-5 years of experience)
Summary of the Role
The Commercial Appraiser is responsible for assessing the value of commercial properties, such as office buildings, shopping centers, industrial sites, and multi-unit residential buildings. They play a critical role in real estate transactions, property financing, taxation, and investment analysis by providing objective valuations that reflect the current market conditions.
Required Skills
- Strong analytical and research skills.
- Excellent written and verbal communication abilities.
- Detail-oriented with a high level of accuracy.
- Critical thinking and problem-solving capabilities.
- Ability to interpret and analyze financial data effectively.
- Time management skills to handle multiple projects simultaneously.
- Working knowledge of GIS systems and property databases.
Qualifications
- Bachelor's degree in finance, economics, real estate, or related field.
- State-issued certification for commercial property appraisal.
- Minimum of 2 years of experience in commercial real estate appraisal.
- Strong understanding of local and national real estate markets.
- Proficiency in appraisal software and Microsoft Office Suite.
Responsibilities
- Conduct thorough property inspections and gather relevant data on commercial properties.
- Analyze property income and expenses, and understand market trends to determine fair market value.
- Utilize a variety of appraisal techniques including the income, cost, and sales comparison approaches.
- Prepare detailed appraisal reports and present findings to clients, financial institutions, or government agencies.
- Maintain up-to-date knowledge of real estate market developments and property law.
- Collaborate with other real estate professionals such as agents, brokers, developers, and planners.
- Adhere to professional standards and ethical guidelines set by regulatory bodies.
- Assist in property taxation disputes and provide expert witness testimony as needed.
Senior (5+ years of experience)
Summary of the Role
A senior commercial appraiser is responsible for estimating the value of commercial properties, such as office buildings, retail stores, and industrial sites. They use a variety of methods to assess property value, considering market trends, building infrastructure, location, and income potential. This role requires advanced analytical skills and a deep understanding of real estate markets.
Required Skills
- Expertise in commercial real estate appraisal techniques.
- Proficiency with appraisal software and tools.
- Strong analytical and quantitative skills.
- Excellent written and verbal communication abilities.
- Ability to interpret and analyze financial statements.
Qualifications
- Bachelor's degree in finance, real estate, or a related field.
- Certified General Appraiser license or equivalent.
- Minimum of 5 years of experience in commercial property appraisal.
- Strong understanding of local, state, and federal regulations regarding property appraisal.
- Proven track record of accurate and ethical appraisal practices.
Responsibilities
- Conduct comprehensive property appraisals for a variety of commercial properties.
- Utilize and maintain knowledge of current market trends and comparable sales data.
- Prepare and present detailed appraisal reports to clients, financial institutions, and legal entities.
- Ensure compliance with all applicable laws, regulations, and industry standards.
- Mentor and provide guidance to junior appraisers.
- Collaborate with other real estate professionals, such as brokers and agents, to gather pertinent data.
- Review and verify data accuracy in appraisal documents and databases.
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