Do you enjoy looking at houses and trying to figure out what they might sell for? Real estate appraisal may be a good career choice for you. Real estate is one of the steadiest sectors of the economy, with the buying and selling of houses occurring every day. Before someone can sell their home, they will need a professional appraisal so they know what to ask. Before someone can purchase a home, their lender will require an appraisal to confirm the amount of the loan. This means a real estate appraiser is involved in the process on both ends.
You must be licensed by your state to become a real estate appraiser. This generally requires that you pass a test to ensure you have the necessary expertise and skills. Real estate appraisers usually have a college degree and took academic courses in finance, math, or business. It is helpful to take subjects concerning different areas in commerce or economics.
If you are interested in getting certified, you can also take a course to prepare you for the certification test. There are on-line courses or you might find one at your local community college or vocational school. Just be sure any course you take is accredited by your state. You will study subjects relating to local federal rulings, law, and real estate. Once you pass the certification test you can become a licensed real estate appraiser. You will need to be licensed before you can work for a lender or real estate agency. It might be advisable to find a mentor. You can look through the Chicago services page or the Saint Charles, IL page to find someone to help.
Depending on your state’s requirement, you may need to apprentice with a licensed appraiser before you can become completely. During this apprenticeship, you will receive hands-on training which will help you when you go out on your own. You may need the licensed appraiser to certify your training and sign off on your hours. While you are in training, expect your pay to be low. This is only until you are completely certified and licensed.
Even when you are licensed and certified, it may take a few years to build a reputation in the industry. You can work for yourself or join an appraisal office and as you gain experience, you will find yourself more in demand. The experience and level of education required to be a real estate appraiser are similar to that of an accountant or attorney. It takes time and effort to achieve your goal.
There are different types of real estate appraisers, so you are not limited to just appraising residential properties. You might enjoy working with commercial properties or learning how to appraise land values. It is also possible to become more of a general appraiser and know how to appraise several types of properties.
It is a good time to consider a career as a real estate appraiser. The housing industry is bouncing back after the 2008 recession and more and more people are buying and selling properties. Real estate appraisal is one career that is certain to continue growing, so if this is what you want, now is the time to get started.