Decide how much a house should sell or rent for.
What does a Residential Appraiser do?
A person turns to Kelly Blue Book to find the price to sell their used car at. But what does one do when looking to sell a house? The answer: they turn to you. As a Residential Appraiser, you give people who want to sell, buy, or rent a house an idea of what they can expect to make or spend on the market.
A Residential Appraiser is a bit like an Assessor, but the difference is you look at so much more than just the price of the house’s materials or the worth of the land it sits on. When assessing a house, you, the Residential Appraiser evaluate the quality of the design and construction, and find out how much similar houses have sold for on the market. The Residential Appraiser takes into account things like the neighborhood, how much work has been put into updating it, and how the real estate market in general is doing.
After doing your appraisal, you write out a detailed report with your final assessment, and give it to the homeowners and the Real Estate Agents or Leasing Agents. This report includes things like the historical background of the house, previous construction done, or any structural issues. You include pictures of the house, as well as detailed notes on what you saw and heard from neighbors or previous tenants. This is a pretty important piece of information because it allows you to back up your estimate if you’re ever questioned by a homeowner or realtor.