Understanding Appraisal
Here's how appraisals work, who relies on them, and how to find a qualified appraiser.
What does an appraiser do?
An appraiser provides objective, impartial and unbiased opinions about the value of real property. Beyond home purchases and refinancing, appraisers help with much more.
Legal and dispute support
Expert witness testimony, dispute resolution and eminent domain advice when value is in question.
Tax and estate planning
Estate planning and tax assessment review backed by an independent opinion of value.
Development and investment
Zoning issues, feasibility studies, market rent studies and investment analysis for owners, developers and investors.
Residential and commercial appraising
Two specialties, one standard of independent value.
Residential appraising
Residential appraisers provide an unbiased estimate of a home or residential unit's value. They help sellers set prices and buyers make offers, value homes for refinancing, recommend improvements before a sale, support legal cases and estate planning, and provide evidence for property tax appeals. Credential: Licensed Residential or Certified Residential.
Residential Career Path
Commercial appraising
Commercial appraisers provide an unbiased estimate of value for retail, industrial, agricultural and other property types, including residential units. They support refinancing, buying and selling, ownership restructuring, insurance coverage, lease negotiations and expert reports for property disputes, eminent domain and divorce. Credential: Certified General.
Commercial Career Path70,000 appraisers
Licensed or certified in the U.S. as of December 2022.
4 credential levels
Trainee, Licensed Residential, Certified Residential and Certified General.
5 AI designations
MAI, SRPA, SRA, AI-GRS and AI-RRS.
All 50 states
Every state requires a license or certification for federally related lending.