Real Estate Appraisers play a significant role in the real estate market. An Appraisers main job is to asses the value of real property for the purpose tax assessment, setting the sale price for real estate, and for determining the maximum loan value for real property. This allows an assessor to work in a number of areas and to find employment at banks, real estate office, and governmental agencies.

The US Bureau of Labor Statistics anticipates a strong market for qualified Appraisers through the year 2014 and that the employment market in this area will grow faster than average.

To become a appraiser you must meet a number of qualification that vary from state to state. In general there is typically a required period of work as a trainee. Once this trainee period is completed, there is required coursework and an examination.

There are four levels of classification for appraisers. These classifications are Trainee, Licensed Residential Appraiser, Certified Residential Appraiser, and Certified General Appraiser. Each classification level requires a certain number of educational hours and licensing to obtain each level.

Appraisers have independent clients and focus solely on valuing one property at a time. They primarily work on a client-to-client basis, and make appraisals for a variety of reasons. Real property appraisers often specialize by the type of real estate they appraise, such as residential properties, golf courses, or strip malls. In general, commercial appraisers have the ability to appraise any real property but may generally only appraise property used for commercial purposes, such as stores or hotels. Residential appraisers focus on appraising homes or other residences and only value those that house 1 to 4 families. Other appraisers have a general practice and value any type of real property.

Although there are currently no formal degree requirements to become an appraiser or assessor, the majority of practicing appraisers and assessors have at least a bachelor’s degree, sometimes in a related field such as economics, finance, or real estate. The specific training courses necessary, however, are not commonly available as part of most bachelor’s programs and must be taken separately, usually at community colleges or through appraisal-related or assessor-related organizations.

A Federal law requires that any appraiser involved in a Federally-related transaction with a loan amount of $250,000 or more must have a State-issued license or certification. All States also are required to conform to the licensing and certification requirements established by The Appraisal Foundation, a Congressionally-approved organization dedicated to this purpose. The Appraisal Foundation requires that appraisers pass a Foundation-approved State examination as well as meet education and experience requirements. The education requirements include a course and examination on the Uniform Standards of Professional Appraisal Practice (USPAP) set forth by The Appraisal Foundation.

Although Federal standards do not require an appraisal license for those appraisers valuing real property with loan amounts of less than $250,000, many States require any practicing appraiser to obtain a license or certification, regardless of transaction value. In addition, many States have different, more stringent requirements for licensure than The Appraisal Foundation.

There are a number of great online and self study courses that can help you on your way to a great and rewarding career as a real estate appraiser.