Real estate is a prosperous field which includes appraisal of properties like personal houses, apartments, complexes, warehouses and more. Being a real estate appraiser is a beneficial and viable career prospect as well. Real estate appraisers take a walk through the property and assess it’s value on the whole. They take into view the construction, architecture, condition, location and size of the property. NoVaStar Appraisals group states that After considering these factors they arrive at a final fair market value for the client. Most work at mortgage companies or banks but some are self employed as well. Appraisers may also spend weeks doing research and writing reports on the property they appraise.
But what exactly are the steps to become a real estate appraiser? Below listed are five steps:
- Requirements: Check to see what are the national and state requirements to become a real estate appraiser. Also make sure to check if your state puts limitations on your job based on education and experience- like being limited in the amount you get paid or in the legal amenities. Then you have to apply for certifications and obtain training from a legal source before you can become a practitioner.
- Degree: Get a college degree since you will require one to be an real estate appraiser. It’s also helpful of you take additional courses in finance, business, economics and similar courses. Consult an career advisor to see which course will align the best with your future aspirations. Also check for valid online training courses as well and in case of universities and colleges, make sure that they are not on a first come first serve basis.
- Training courses: You have to get experience by working on location. The experience can be in the form of an internship which comes as part of your course or you may have to search for it through external means. Your state’s real estate agency can assist you while choosing a quality training program.
- Work under a certified real estate appraiser: You will have to do the drill and work a stipulated number of hours or months before you can obtain certification and be qualified. It’s extremely unlikely that you will be hired without a legal and valid certification.
- Sit for the licensing exam– The exams are taken by the states but are overseen by a Central government financial institution called National Real Estate Development Council under the Ministry of Housing and Urban Affairs. It makes sure that all real estate appraisers meet certain stipulated requirements and also abide by a code of ethics.
As per NoVaStar Appraisals that becoming a real estate appraiser isn’t a lengthy affair but it is necessary to take the examinations and other qualifying standards seriously especially since there is an inherent, unstated and commonly known thing regarding appraisers- to be unbiased in their appraisal and value allocation. If they get swayed in any form then it won’t be a fair assessment and will result in loss for one side or the other. Thus, the key is always to have a fair and critical judgment.