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Appraisers, Real Estate

Appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.   (O'Net 13-2021.02)

 
Reported job titles:   Appraiser, Bank Appraiser, Certified Real Estate Appraiser, Certified Residential Real Estate Appraiser, Commercial Real Estate Appraiser, Engagement Director, Home Appraiser, Licensed Appraiser, Property Appraiser, Real Estate Appraiser, Real Estate Appraiser Supervisor, Real Property Appraiser, Registered Appraiser, Residential Fee Appraiser, Residential Real Estate Appraiser, Staff Appraiser, Valuation Consultant
 
  • Career Video
  • Wages
  • Employment Trends
  • Industries of Employment
  • Tasks
  • Knowledge
  • Skills
  • Abilities
  • Work Activities
  • Interests
  • Work Styles
  • License Information
  • Education & Training Requirements
  • Schools
  • Other Resources
  • Related Occupations
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    Wages
    for Appraisers and Assessors of Real Estate which includes:
                          - Assessors
                          - Appraisers, Real Estate
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     Location Pay
    Period
    2016
    Percentile Wages Average
    Wage
    10% 25% 50%
    Median
    75% 90%
     Vermont Hourly $ 12.69   $ 15.36   $ 20.68   $ 27.14   $ 30.92   $ 21.48  
    Yearly $26,390   $31,950   $43,020   $56,450   $64,320   $44,680  
     
     Burlington-South Burlington, VT Metropolitan NECTA Hourly $ 16.00   $ 17.75   $ 25.28   $ 28.99   $ 32.91   $ 24.14  
    Yearly $33,280   $36,920   $52,570   $60,290   $68,450   $50,220  
     
     Southern Vermont Balance of State Hourly $ 13.09   $ 15.16   $ 18.45   $ 22.87   $ 27.77   $ 19.87  
    Yearly $27,230   $31,520   $38,370   $47,570   $57,760   $41,330  
     
     Northern Vermont Balance of State Hourly $ 11.73   $ 14.03   $ 23.44   $ 28.59   $ 31.28   $ 22.04  
    Yearly $24,410   $29,190   $48,750   $59,480   $65,050   $45,850  
     
    What are Percentile Wages?
    source: Occupational Employment Statistics, Vermont Labor Market Information, U.S. Bureau of Labor Statistics, released April 2017.
     


    Employment Trends
    for Appraisers and Assessors of Real Estate which includes:
                                  - Assessors
                                  - Appraisers, Real Estate
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    Location Employment Annual % change
    (compounded)
    Annual job openings
    (due to growth and
    net replacements)
    2014 2024
    Vermont 247 259 0.5% 5
    source: Employment Projections, Vermont Economic & Labor Market Information, in cooperation with U.S. Bureau of Labor Statistics, statewide estimates released July 2016.
     


    Industries of Employment
    for Appraisers and Assessors of Real Estate which includes:
                                - Assessors
                                - Appraisers, Real Estate
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    Industry Percent of Total
    2014
    Real estate 30.2%
    Local government, excluding education and hospitals 29.8%
    Self-employed workers, all industries 23.7%
    Credit intermediation and related activities 4.1%
    Other professional, scientific, and technical services 1.0%
    source: Employment Projections, U.S. Bureau of Labor Statistics, National Employment Matrix, released July 2016.
     


    Tasks
    for Appraisers, Real Estate
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  • Prepare written reports that estimate property values, outline methods by which the estimations were made, and meet appraisal standards.
     
  • Compute final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential.
     
  • Search public records for transactions such as sales, leases, and assessments.
     
  • Inspect properties to evaluate construction, condition, special features, and functional design, and to take property measurements.
     
  • Photograph interiors and exteriors of properties to assist in estimating property value, substantiate findings, and complete appraisal reports.
     
  • Evaluate land and neighborhoods where properties are situated, considering locations and trends or impending changes that could influence future values.
     
  • Obtain county land values and sales information about nearby properties to aid in establishment of property values.
     
  • Verify legal descriptions of properties by comparing them to county records.
     
  • Check building codes and zoning bylaws to determine any effects on the properties being appraised.
     
  • Estimate building replacement costs using building valuation manuals and professional cost estimators.
     
    source: Occupational Information Network: Appraisers, Real Estate  updated December 2005
     


    Knowledge
    for Appraisers, Real Estate
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  • Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
     
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
     
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
     
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
     
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
     
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
     
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
     
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
     
  • Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
     
  • Geography - Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.
     
    source: Occupational Information Network: Appraisers, Real Estate  updated December 2005
     


    Skills
    for Appraisers, Real Estate
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  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
     
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
     
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
     
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
     
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
     
  • Speaking - Talking to others to convey information effectively.
     
  • Time Management - Managing one's own time and the time of others.
     
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
     
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
     
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
     
    source: Occupational Information Network: Appraisers, Real Estate  updated June 2010
     


    Abilities
    for Appraisers, Real Estate
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  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
     
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
     
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
     
  • Near Vision - The ability to see details at close range (within a few feet of the observer).
     
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
     
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
     
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
     
  • Speech Clarity - The ability to speak clearly so others can understand you.
     
  • Speech Recognition - The ability to identify and understand the speech of another person.
     
  • Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
     
    source: Occupational Information Network: Appraisers, Real Estate  updated December 2005
     


    Work Activities
    for Appraisers, Real Estate
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  • Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
     
  • Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
     
  • Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
     
  • Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
     
  • Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
     
  • Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
     
  • Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
     
  • Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
     
  • Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
     
  • Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
     
    source: Occupational Information Network: Appraisers, Real Estate  updated December 2005
     


    Interests
    for Appraisers, Real Estate
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  • Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
     
  • Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
     
    source: Occupational Information Network: Appraisers, Real Estate  updated June 2008
     


    Work Styles
    for Appraisers, Real Estate
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  • Integrity - Job requires being honest and ethical.
     
  • Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
     
  • Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
     
  • Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
     
  • Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
     
  • Initiative - Job requires a willingness to take on responsibilities and challenges.
     
  • Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
     
  • Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
     
  • Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
     
  • Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
     
    source: Occupational Information Network: Appraisers, Real Estate  updated December 2005
     


    State of Vermont License Information
    that may be required for Appraisers, Real Estate
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    License Name Licensing Agency
    Real Estate Appraiser Vermont Secretary of State
    Office of Professional Regulation
    Board of Real Estate Appraisers
     
    source: Vermont Department of Labor, Licensed & Certified Occupations in Vermont, 2015.
     


    Education and Training Requirements
    for Appraisers, Real Estate
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  • Job Zone Four: Considerable Preparation Needed
  •  
  • Education: Most of these occupations require a four-year bachelor's degree, but some do not.
  •  
  • Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
  •  
  • Experience: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
  •  
    source: Occupational Information Network: Appraisers, Real Estate  updated December 2005
     


    Schools
    offering instructional programs related to Appraisers, Real Estate
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      Related Instructional Programs
     
    • Real Estate Development. (NEW)
     
    • Real Estate.
     
     Search for schools offering these programs at
     
     
     
    source: National Center for Education Statistics 2000 Classification of Instructional Programs .
     


    Other Resources
    for Appraisers, Real Estate
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  • Labor Exchange Information
  • A source for occupational characteristics, such as age, gender, race, and years of education and an alternative source for occupational wage rates. Limited to people looking for jobs and the jobs advertised through VDOL Vermont Job Link.
  • Look for statewide information over the latest 12 months for Appraisers and Assessors of Real Estate.
  •  
  • Occupational Outlook Handbook
  • The Occupational Outlook Handbook is a nationally recognized source of career information, designed to provide valuable assistance to individuals making decisions about their future work lives. Revised every two years, the Handbook describes what workers do on the job, working conditions, the training and education needed, earnings, and expected job prospects in a wide range of occupations.
    Go to Occupational Outlook Handbook
    Handbook occupations related to Appraisers, Real Estate :
  • Appraisers and Assessors of Real Estate
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    Related Occupations
    Occupations with skill requirements similar to Appraisers, Real Estate
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  • Assessors
  •  
  • Buyers and Purchasing Agents, Farm Products
  •  
  • City and Regional Planning Aides
  •  
  • Claims Examiners, Property and Casualty Insurance
  •  
  • Cost Estimators
  •  
  • Insurance Adjusters, Examiners, and Investigators
  •  
  • Logistics Managers
  •  
  • Real Estate Brokers
  •  
    source: Occupational Information Network: Appraisers, Real Estate 
     

     
     
     
    Vermont.gov State of Vermont Department of Labor