real property evaluator vs real estate agent

Real property evaluator vs real estate agent full#

Work SchedulesĪppraisers and assessors of real estate typically work full time during regular business hours. Appraisers who work for banks and mortgage companies generally spend most of their time inside the office, making site visits only when necessary. For example, residential appraisers tend to spend less time on office work than commercial appraisers, who might spend up to several weeks analyzing information and writing reports on one property. Time spent away from the office depends on the specialty. The largest employers of appraisers and assessors of real estate were as follows: Local government, excluding education and hospitalsĪlthough appraisers and assessors of real estate work in offices, they may spend a large part of their time conducting site visits to assess properties. Assessors must be able to defend the accuracy of their property assessments, either to the owner directly or at a public hearing.Īssessors also keep a database of every property in their jurisdiction, identifying the property owner, assessment history, and characteristics of the property, as well as property maps detailing the property distribution of the jurisdiction.Īppraisers and assessors of real estate held about 80,100 jobs in 2018. Taxpayers sometimes challenge the assessed value because they feel they are being charged too much for property tax. Unlike appraisers, who generally focus on one property at a time, assessors often value an entire neighborhood of homes at once by using mass appraisal techniques and computer-assisted appraisal systems.Īssessors must be up to date on tax assessment procedures. During the entire process, appraisers record their research, observations, and methods used in providing an estimate of the property’s value.Īssessors value properties for property tax assessments. After visiting the property, the appraiser analyzes the property relative to comparable home sales, including lease records, location, view, previous appraisals, and income potential. Appraisers photograph the outside of the building and some of the interior features to document its condition. They also consider the overall condition of a building, including its foundation and roof or any renovations that may have been done. When evaluating a property's value, appraisers note the characteristics of the property and surrounding area, such as a view or noisy highway nearby. They only appraise properties that house one to four units. Residential appraisers focus on appraising properties in which people live, such as single unit homes and condominiums.Commercial appraisers specialize in income-producing properties, such as office buildings, stores, and hotels.

Prepare and maintain current data on each real estate propertyĪppraisers and assessors work in localities that they are familiar with so that they know any environmental or other concerns that may affect the property's value.Īppraisers typically value one property at a time, and they often specialize in a certain type of real estate:.Prepare written reports on the property values.Analyze “comparables,” or similar nearby properties, to help provide values.Photograph the interior and exterior of properties.Inspect new and existing properties, noting the characteristics.Verify legal descriptions of real estate properties in public records.DutiesĪppraisers and assessors of real estate typically do the following: Appraisers and assessors of real estate provide a value estimate on land and buildings usually before they are sold, mortgaged, taxed, insured, or developed.

Real property evaluator vs real estate agent