Residential appraisers are responsible for assessing the value of real estate properties to set selling prices or mortgage values of buildings or land. They establish market values and rate real estate visiting and inspecting sites, and interviewing owners.
It will be your job to determine factors that might impact the value of the property in the future, such as developments in the area or previous sales records. You will have to document your findings and prepare reports explaining your methods and the results, keeping your procedures in alignment with industry regulations and standards.
A degree in a financial area might be useful when embarking on this career path. Experience in real estate is a must, people often rise to this position after extensive work as real estate agents. Getting certified will give you a good start to enter the field. You will have to be up-to-date about regulations related to real estate procedures, and strong analytical thinking will be essential. Salaries for this position average around $49,736 per year.
How to Become a Residential Appraiser
There is more than meets the eye when it comes to being a residential appraiser. For example, did you know that they make an average of $24.66 an hour? That's $51,284 a year!
Between 2018 and 2028, the career is expected to grow 7% and produce 5,600 job opportunities across the U.S.
What Does a Residential Appraiser Do
There are certain skills that many residential appraisers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, customer-service skills and math skills.
How To Become a Residential Appraiser
If you're interested in becoming a residential appraiser, one of the first things to consider is how much education you need. We've determined that 65.0% of residential appraisers have a bachelor's degree. In terms of higher education levels, we found that 7.2% of residential appraisers have master's degrees. Even though most residential appraisers have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a residential appraiser. When we researched the most common majors for a residential appraiser, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on residential appraiser resumes include master's degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a residential appraiser. In fact, many residential appraiser jobs require experience in a role such as appraiser. Meanwhile, many residential appraisers also have previous career experience in roles such as staff appraiser or real estate appraiser.
Residential Appraiser Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of appraiser you might progress to a role such as owner eventually. Later on in your career, you could end up with the title vice president and manager.
Average Salary for a Residential Appraiser
What Am I Worth?
Top Colleges for Residential Appraisers
1. University of Pennsylvania
Philadelphia, PA • Private
2. Northwestern University
Evanston, IL • Private
3. University of Southern California
Los Angeles, CA • Private
4. Villanova University
Villanova, PA • Private
5. San Diego State University
San Diego, CA • Private
6. Bentley University
Waltham, MA • Private
7. New York University
New York, NY • Private
8. University of Maryland - Baltimore County
Baltimore, MD • Private
9. Stanford University
Stanford, CA • Private
10. Baylor University
Waco, TX • Private
Top Skills For a Residential Appraiser
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 11.4% of residential appraisers listed uniform standards on their resume, but soft skills such as analytical skills and customer-service skills are important as well.
Choose From 10+ Customizable Residential Appraiser Resume templates
Zippia allows you to choose from different easy-to-use Residential Appraiser templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Residential Appraiser resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
Residential Appraiser Demographics
Residential Appraiser Gender Distribution
After extensive research and analysis, Zippia's data science team found that:
- Among residential appraisers, 40.0% of them are women, while 60.0% are men.
- The most common race/ethnicity among residential appraisers is White, which makes up 84.9% of all residential appraisers.
- The most common foreign language among residential appraisers is Spanish at 66.7%.
Online Courses For Residential Appraiser That You May Like
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Best States For a Residential Appraiser
Some places are better than others when it comes to starting a career as a residential appraiser. The best states for people in this position are California, Alaska, Washington, and Virginia. Residential appraisers make the most in California with an average salary of $63,744. Whereas in Alaska and Washington, they would average $59,961 and $58,045, respectively. While residential appraisers would only make an average of $57,554 in Virginia, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. Pennsylvania
$54,404
Avg. Salary
2. New York
$56,874
Avg. Salary
3. California
$63,744
Avg. Salary
How Do Residential Appraiser Rate Their Jobs?
Top Residential Appraiser Employers
Most Common Employers For Residential Appraiser
| Rank | Company | Average Salary | Hourly Rate | Job Openings |
|---|---|---|---|---|
| 1 | Quicken Loans | $83,218 | $40.01 | 2 |
| 2 | Boulder County | $62,714 | $30.15 | 2 |
| 3 | Bexar County | $60,844 | $29.25 | 2 |
| 4 | Chubb | $59,093 | $28.41 | 5 |
| 5 | Wells Fargo | $58,325 | $28.04 | 10 |
| 6 | Bank of America | $57,644 | $27.71 | 17 |
| 7 | Forsythe Technology | $54,009 | $25.97 | 12 |
| 8 | Sabre Systems | $53,937 | $25.93 | 2 |
| 9 | City of Davenport, Iowa | $52,003 | $25.00 | 3 |
| 10 | TRW Automotive Holdings | $51,284 | $24.66 | 5 |
Residential Appraiser Videos
