If you’re looking to be self-employed, for example, real estate valuation may be the perfect profession for you. Appraisers choose when and how they want to work and can largely determine how much financial success they will have. Appraisers typically make their own schedules and have control over which clients they want to help, and the type of work they’ll do.
Here are four facts that anyone considering a career in the valuation field should know:
- Appraisal Institute research shows that more than one-fifth of appraisers earn at least $150,000 annually; another nearly one-fourth make at least $100,000.
- There are many categories in the valuation profession. Clients need appraisals for a wide variety of residential and commercial real estate transactions, including mortgage lending, taxation, leasing and government acquisition.
- You decide whether you want the independence and flexibility of owning your own business. The start-up costs are often lower than those of other professions.
- The valuation profession is seeking new faces. The number of appraisers has decreased by approximately 2.6 percent annually in the past five years, and there’s a need for new entrants into the profession.
Interested in learning more about the profession? Visit the Careers Building Communities website, which offers information on scores of career paths across all sectors of real estate. The Appraisal Institute’s section of the website outlines why students and others should consider a career as an appraiser. And you can learn more on the Appraisal Institute’s website.
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