Employment of appraisers and assessors of real estate is expected to grow faster than average for all occupations. Job opportunities should be favorable for those who meet licensing qualifications and have several years of experience.
Employment change. Employment of appraisers and assessors of real estate is expected to grow by 17 percent, which is faster than the average for all occupations, over the 2006-16 decade. Employment of appraisers will grow with increases in the level of real estate activity. Additionally, more appraisers will be hired to help with litigation claims, probate cases, foreclosures, business valuations, and divorce settlements. Employment of assessors will grow with the increase in the amount of real property to be assessed. However, employment will be held down to a certain extent by productivity increases brought about by the increased use of computers and other technologies, which make for faster valuations and allow appraisers to take on more customers and each assessor to assess more properties.
Independent fee appraisers will see the strongest growth because banks and other financial institutions increasingly are contracting work out to them to make loan appraisals on a case-by-case basis. The increased use of automated valuation models to conduct appraisals for loan and mortgage purposes also will shift work out of the financial sector. Additionally, more work is being done in service sectors of the economy, such as in the legal and accounting sectors.
Job prospects. Employment opportunities should be best in areas with active real estate markets, such as the East and West coasts and major cities and suburbs. Although opportunities for established appraisers and assessors are expected to be good in these areas, those wishing to enter the occupation may have difficulty locating a trainee position because traditional sources of training positions increasingly are prefer not to take on new trainees.
The cyclical nature of the real estate market also will have a direct effect on the job prospects of appraisers, especially those who appraise residential properties. In times of recession, fewer people buy or sell real estate, causing a decrease in the demand for appraisers. As a result, opportunities will be best for appraisers who are able to switch specialties and appraise different types of properties.
Because assessors are needed in every local or State jurisdiction to make assessments for property tax purposes regardless of the state of the local economy, assessors are less affected by economic and real estate market fluctuations than are appraisers. In addition to growth openings, there should be numerous openings because of the need to replace the many appraisers and assessors who are expected to retire or decrease their working hours over the projection period.
In 2006, appraisers and assessors of real estate held about 101,000 jobs. Most appraisers and assessors work full-time. More than 3 out of 10 were self-employed; virtually all were appraisers. Employment was concentrated in areas with high levels of real estate activity, such as major metropolitan areas. Assessors are more uniformly spread throughout the country than appraisers because every locality has at least one assessor.
About 25 percent worked in local government; almost all were assessors. Another 30 percent, mainly appraisers, worked for real estate firms, while a relatively small number worked for financial institutions, such as banks and credit unions.
Job Zone 4 - Preparation needed
Overall Experience
A minimum of two to four years of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant needs four years of college and several years of accounting work to be considered qualified.
Education
Most of these occupations require a four-year bachelor's degree, but some do not.
Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Examples
Accountants, chefs and head cooks, computer programmers, historians, and police detectives.
These occupations often involve coordinating, supervising, managing, and/or training others.
[Back to Top]
For more information on licensure requirements, contact:
For more information on individual State licensure requirements, contact:
- Appraisal Subcommittee (ASC), 2000 K Street, NW, Suite 310; Washington, D.C. 20006. Internet: http://www.asc.gov
For more information on appraisers of real estate, contact:
- American Society of Appraisers, 555 Herndon Pkwy., Suite 125, Herndon, VA 20170. Internet: http://www.appraisers.org
- Appraisal Institute, 550 W. Van Buren St., Suite 1000, Chicago, IL 60607. Internet: http://www.appraisalinstitute.org
- National Association of Independent Fee Appraisers, 401 N. Michigan Ave. Suite 2200, Chicago, IL 60611.
- National Association of Real Estate Appraisers, 1224 North Nokomis NE., Alexandria, MN 56308.
For more information on assessors of real estate, contact:
- International Association of Assessing Officers, 314 W 10th St., Kansas City, MO 64105. Internet: http://www.iaao.org
Sources: O*Net data version 12.0
Occupational Outlook Handbook
Department of Labor
[Back to Top]