What is a Review Appraiser Job?
A review appraiser job is a specialized position in the real estate industry that involves evaluating the accuracy and quality of property appraisals conducted by other professionals. Review appraisers are responsible for ensuring that appraisals meet industry standards and comply with regulatory requirements. They may work for mortgage lenders, real estate appraisal companies, or government agencies.
What Do Review Appraisers Usually Do in This Position?
In this position, review appraisers typically review and analyze property appraisals to ensure that they are accurate, complete, and comply with industry and regulatory standards. They may also provide feedback to appraisers to help them improve their work. Additionally, review appraisers may be responsible for conducting their own property appraisals, especially if they work for smaller appraisal companies.
Top 5 Skills for the Position
Strong analytical and critical thinking skills
Excellent attention to detail
Expert knowledge of real estate industry standards and regulations
Effective communication skills, including the ability to provide constructive feedback
Proficiency in using appraisal software and other relevant tools
How to Become a Review Appraiser Specialist
To become a review appraiser specialist, you will typically need a Bachelor's degree in real estate, finance, or a related field. You may also need to obtain a state certification or license to practice as an appraiser. Additionally, gaining experience as a property appraiser or working in a related field can be helpful in preparing for this position.
Average Salary for Review Appraiser Jobs
The average salary for review appraiser jobs varies depending on factors such as location, industry, and level of experience. According to data from the U.S. Bureau of Labor Statistics, the median annual salary for appraisers and assessors of real estate was $57,010 as of May 2020.
Roles and Types of Review Appraiser Jobs
There are several types of review appraiser jobs, including those focused on residential or commercial properties, and those that specialize in reviewing appraisals for mortgage lenders or government agencies. Some common roles for review appraisers include staff appraiser, chief appraiser, and review appraiser manager.
Locations with the Most Popular Review Appraiser Jobs in the USA
Review appraiser jobs can be found across the United States, but some locations have more job opportunities than others. According to data from the U.S. Bureau of Labor Statistics, the states with the highest levels of employment for appraisers and assessors of real estate as of May 2020 were California, Texas, Florida, New York, and Illinois.
What are the Typical Tools Used in Review Appraiser Jobs?
Review appraisers typically use a variety of tools to conduct their work, including appraisal software, spreadsheets, and other specialized software. They may also use tools such as measuring tapes and laser rangefinders to gather information about properties. Additionally, review appraisers often use databases and other resources to research property values and market trends.
In Conclusion
Review appraiser jobs are an important part of the real estate industry, helping to ensure that property appraisals are accurate and comply with industry standards. To become a review appraiser specialist, you will typically need a Bachelor's degree in a related field, as well as certification or licensing in your state. With strong analytical skills, attention to detail, and knowledge of industry standards and regulations, you can succeed in this challenging and rewarding position.