Appraiser mainly deals with real estate valuation, other property, and a variety of property rights, financial instruments, securities etc. The result of the evaluation, for example of real estate, is contained in a special document – the evaluation report. A video of how such a real estate valuation report looks like by this link. Depending on the place of work and the skills available, the appraiser may perform the work at the request of the court or the executive. The appraiser can also qualify as a forensic expert if he wishes.
According to the Law «About Valuation of Property…» they are also entitled to prepare advisory opinions (often referred to as expert opinions). Such documents may be needed by banks or investors. Expert opinion prepared by the appraiser may influence the decision to buy the client’s property or investment project.
What it takes to become an appraiser?
To work as a real estate appraiser you need to have higher education. Persons wishing to engage in professional activities of independent evaluation must undergo additional training and pass a qualification examination. It is also necessary to have an internship or professional experience related to real estate valuation. In addition, every two years appraisers are obliged to take advanced training courses under the auspices of the State Property Fund of Ukraine. Permit appraisers usually put on their website in the section with information about appraisal company.
Since the appraiser is a profession that implies public trust, the candidate cannot be tried for offences, including:
- property,
- economic
- and others…
The independent appraiser should not only be aware of the regulatory requirements, but also keep the market under constant review. For this reason, the profession is suitable for curious people who can easily find and analyse market news and are interested in economic issues.
To prepare even the apartment evaluation report, you need to carefully read and study many documents. Therefore, the importance of literacy and accuracy.
How much does an appraiser make?
Real estate appraiser’s salary depends on where and how long he works. Looking at service prices, we can conclude the following. The appraiser, having experience and constant orders, is able to earn about 30 000 UAH. Monthly, producing about 30 evaluation reports of simple model properties (apartments, land, houses, garages) per month or 1-2 simple reports per working day. The salary of a new real estate appraiser is much lower, although the income of such a professional is usually higher than the average for the labour market.
Is it realistic to work as an appraiser as a part-time job combined with a full-time job?
Real estate appraiser can work both in the company and for himself, of course, became an individual. The advantages of working in the company should include career development and additional benefits, for example, private medical services. Appraiser can easily combine several activities. And if you have a good portfolio, then also count on high-paying orders.
Property appraiser — pros and cons
Advantages:
- interesting job,
- opportunities for development,
- a good salary.
Disadvantages:
- huge responsibility.
Labour market situation
The profession is prestigious and promising. In recent years, more and more commercial and residential real estate is being built in Ukraine, and the legislator is trying to make the regulation friendly for private investors. It follows that real estate appraisers should not complain about unemployment. In addition to private companies and banks, they may be employed or become judicial experts.
