Appraisers seem to have such an interesting job. What does an appraiser even do, anyway?

Appraisers are skilled at juggling multiple responsibilities and must be meticulous when it comes to scheduling their time. What does an appraiser do every day? Though most people don’t realize it, the simple answer is, a lot.

The first thing an Appraiser must do is to provide quotes for orders. An appraiser isn’t just handed an order. They are approached in many different ways with requests to perform an appraisal. The Appraiser takes a quick look at information on the property then submits a quote that includes their fee and an approximate date of completion for the work. This is done multiple times on a daily basis. If they’re awarded the work, the Appraiser then moves on to the next step, scheduling an inspection.

Scheduling can be one of the trickiest parts of the assignment. You know how it is to play phone tag. Imagine that on a much bigger scale. It can get difficult. Once the Appraiser makes contact with the homeowner, then the appointment is set and usually good to go.  Occasionally there will be times when an appointment must be rescheduled. The Appraiser must be ready to adapt to the change and update their calendar frequently. Once the appointment is set, however, the Appraiser then starts the next phase of the process, inspecting your property.

When the Appraiser arrives on site, they have a lot to do. They check the square footage, how many rooms are in the home, and the size of each room.  They take pictures to provide to the lender. If there’s been remodeling done that’s not been made public previously, they make note of it. They check the integrity of the home inside and then move outside to continue the inspection. They measure the home’s exterior and inspect any outbuildings. Then then move to the next step in the process, the report.

After writing up a summary of the property, the Appraiser then looks at all the information they have and derives an approximate value of the home. This is based on several factors: The visual inspection, neighborhood comparables, current market trends, and the physical attributes of the home. Appraisers don’t insert their own personal opinion about the value of the home. More importantly, they don’t value the property low on purpose. (Even though they’re still salty with you, Ricky, for hitting them in the face while playing dodgeball in high school, they won’t misrepresent the value of the property just to get even with you). They rely on facts, figures, and the market around the property for value and that’s what goes in the report. Once the report is completed and typed, it’s then submitted to the lender.

The Appraiser’s work doesn’t end there, though. Appraisers work several orders per week. There are multiple tasks an Appraiser will be juggling at any given time. They also provide updates when questioned, request documentation when it’s needed, and complete revisions when necessary. But that’s not all that happens on a day-to-day basis.  Appraisers also must maintain their licensing and take additional courses throughout the year for continuing education. They have to keep up with the latest changes in the industry and take care of any personal matters (Hey, Appraisers need to go to the dentist, too). Right now, they have to keep abreast of all of the latest updates about appraising during the pandemic. Things can change on a daily or weekly basis and they want to make sure they protect themselves and homeowners as well.

Appraising is hard work, no doubt about it. Appraisers must be on top of things, organized, and highly adaptable. Good appraisers make their job look easy even though the job is anything but.

Here at The Appraisal Station, we pride ourselves on providing the highest quality appraisal that we can for our customer. Our certified residential appraisers are fully trained and licensed and are standing by to help give you the knowledge that you need to make the best decisions possible for your home. Looking for an appraisal? Click here for a free quote or give us a call at 614-899-6943.