A real estate appraisal is a service performed, by an appraiser, that develops an opinion of value based upon the highest and best use of real property. The highest and best use is that use which produces the highest possible value for the property. This use must be profitable and probable. Also of importance is the definition of the type of value being developed and this must be included in the appraisal, ie fair market value, condemnation value, quick sale value, etc.

In the UK, real estate appraisal is known as property valuation and a real estate appraiser is a property valuation surveyor. Property valuation in the UK is regulated by the Royal Institution of Chartered Surveyors (RICS), a professional body encompassing all of the building and property-related professions. The RICS professional guidelines for valuers are published in the Red Book.

The reader should be aware that differences in nomenclature exist between the different countries. Although the overall concepts are very similar, the reader should be careful to ascertain that the proper nomenclature is being used for their particular area.

Just one question - if they are appraising based on the highest possible value, would this mean the person would have less chance of selling the property if it is valued too high?

Not really, as they usually get talked down during the buying process or auction anyway.
Property rarely sells for its advertised or appraised price!

Real estate appraisal work still a good career or not?
I want to get my license to do commercial and residential real estate apprasials, but I am worried about the current real estate market. Is this still a good career to pursue, or is the market really ending for this type of business? How much money do appraisal workers make annually? Thanks.....

A career in any facet of the RE buisness is a tough go right now, at least here in sunny Fla. (Tampa Bay). Other appraisers in my office drive cabs, tend bar, waitress, etc to make ends meet. Same for people I know in title, RE sales and mortgages. At this point I just wish 2008 would go away. Looking forward to a better 2009! If nothing else, at least the boat still runs and the fish are biting!

Not really, as they usually get talked down during the buying process or auction anyway.
Property rarely sells for its advertised or appraised price!

I would tend to disgree! The main reason for Debocle II is that appraisers were valueing properties at or above their advertised and market price.

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Real estate appraisal, property valuation or land valuation is the practice of developing an opinion of the value of real property, usually its Market Value. The need for appraisals arises from the heterogeneous nature of property as an investment class: no two properties are identical, and all properties differ from each other in their location - which is one of the most important determinants of their value.

Appraising utilizes your personal skills, math skills as well as your detective skills into a career where most appraisers are their own bosses. It can also give you free time to spend with the family by letting you set your own hours.

Hello Everyone,,,,


As we have seen that investing into Real Estate & Property is become like money making idea. We can earn much more in short time duration by investing into Properties.

Good Luck...

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