A profession as a real estate appraiser requires certain skills of an individual in order for them to be successful. The application of the skills can be learned during the required coursework and training prior to becoming a licensed appraiser.
The skills to be an appraiser can be broken into two different groups: hard skills, and soft skills.
Hard skills
Hard skills are easy to quantify, and can be more easily teachable.
- Math skills – Real estate appraisers need to analyze real estate data, convert units of measure such as acres and square feet, and calculate square footage of properties and land.
- Analytical skills – There are many sources of data that real estate appraisers must consider when determining the value of a property. Sufficient research of all factors and analyzing the weight and value is necessary when determining the value of the property.
- Writing skills – A real estate appraisal report has many sections that requires a certain amount of writing. The descriptions are objective and need to clearly state the facts.
Soft skills
Soft skills often require the ability to adapt to the situation depending on the circumstance. They are difficult to quantify and are most effectively learned through experience and trial and error.
- Customer service skills – Real estate appraisers regularly work with different people, whether they are selling their service, meeting with the property owner, or interacting with clients. The ability to communicate effectively with everyone is an important part of customer service.
- Organizational skills – Real estate appraisers work with multiple clients concurrently, utilize many different sources of information, and must completely investigate properties that are being appraised. Organization is a critical part of the real estate appraiser’s job.
- Time management skills – Every real estate appraisal has a deadline, and some may have very short time constraints. The ability to manage time is important to ensure appraisals are done completely and delivered by the agreed upon deadline.
- Problem solving skills – Real estate appraisers often run into unexpected issues. The ability to find a solution when issues arise is often necessary to complete the appraisal.
The required coursework will teach the skills that are specific to real estate appraisals. During the trainee period, the real estate appraiser’s supervisor will educate the trainee on how to effectively apply the soft skills.
What’s next?
Still interested in pursuing a career in real estate appraisals? Check out the online appraisal courses available in your state from our partner at Mbition.