The primary role of a commercial real estate appraiser is to inspect properties that are intended for commercial use and estimate the value for a third party. This may include examining existing buildings, or it may be limited to undeveloped real estate. This service is essential for buyers, who use the information to determine whether to buy a property; it is also necessary for sellers, who need the data to settle on an initial offering price. The appraiser's job is to visit each property in person and inspect the land and facility (if there is a facility) so that they can assign a value to it, as well as look for any flaws or issues that may affect the value. While owners and agents are usually the clients, a local government may also use the appraiser's services to determine property tax.
Real Estate Appraiser, Commercial Tasks
Select and evaluate comparison properties and judge accuracy, reliability, and quality of data and final appraisal.
Utilize databases, perform calculations, and collect site data to properly prepare appraisals.
Conduct appraisals of properties and buildings in accordance with all applicable regulations and laws.
Calculate property values including factors like condition, location, insurance, taxes, and nearby properties.