Real Estate Appraiser, Residential Salary

For Residential Real Estate Appraisers, bonuses and commissions account for a significant portion of income and add up to 121 percent of their $52K yearly pay. Career length and the particular city each impact pay for this group, with the former having the largest influence. Health benefits are not claimed by all — around one in three lack any form of coverage — but the larger part have medical insurance, and over one-half have dental, too. Job satisfaction is high and work is enjoyable for most Residential Real Estate Appraisers. Men make up the majority of Residential Real Estate Appraisers (65 percent) survey respondents. Participants in PayScale's salary questionnaire provided the particulars of this report.

$33,985 - $97,678
(Median)
$34K
$52K
$98K
MEDIAN: $51,740
10%
50%
90%

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$13.34 - $40.00
(Median)
$13
$24
$40
MEDIAN: $23.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$33K$66K$99K
Salary
$33,985 - $97,678  
   
Bonus
$0.00 - $8,054  
Profit Sharing
$2,000  
Commission
$62,500  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$33,144 - $98,336  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 238
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$20$40$60
Hourly Rate
$13.34 - $40.00  
   
Overtime
$25.33 - $57.38  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Bonus
$0.00 - $8,054  
   
Commission
$62,500  
Profit Sharing
$2,000  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$33,144 - $98,336  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 44
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Job Description for Real Estate Appraiser, Residential

A residential real estate appraiser assesses homes' values for loan, tax, insurance, and other purposes. The appraiser evaluates single-family homes, land, and condominiums, among other residential properties. To obtain an objective and accurate valuation for property, the appraiser needs examine factors such as the history of the property, market trends, an in-person assessment of its condition, and the selling prices of similar homes in the area. After the appraisal has been carried out, the appraiser makes a report documenting the evidence for their valuation; these documents are then given to the appropriate parties, such as the appraiser's manager, a bank, and/or the customer intending to purchase the home.

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Real Estate Appraiser, Residential Tasks

  • Conduct inspections of properties to identify factors which could influence property value.
  • Research property sales history, value of neighboring homes, and the value of homes in the region.
  • Calculate estimates of the value of property for sales, mortgages, and loans.
  • Create written reports detailing estimation process and results.

Common Career Paths for Real Estate Appraiser, Residential


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Residential Real Estate Appraisers who go on to become Real Estate Appraisal Managers may see their salaries climb quite a bit. Median pay for Real Estate Appraisal Managers is $78K annually. Becoming a Real Estate Appraiser & Assessor is, more often than not, the most common role that Residential Real Estate Appraisers move into when they're ready for the next step in their career. A median salary for a Real Estate Appraiser & Assessor is $42K. Another frequent advance is for Residential Real Estate Appraisers to assume a Commercial Real Estate Appraiser role; in this role, workers often take home $64K.

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Pay by Experience Level for Real Estate Appraiser, Residential

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience does not seem to be a strong driver of pay increase in this role. The average worker who claims fewer than five years of experience earns around $42K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $52K. Residential Real Estate Appraisers see a median salary of $57K after reaching one to two decades on the job. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $62K.

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Experience Affects Real Estate Appraiser, Residential Salaries

Late-Career
up arrow 20%

Experienced
up arrow 10%

Mid-Career
0%

National Average
$52,000

Entry-Level
up arrow 20%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 39 votes.

Gender

Female
35 %
Male
65 %

Years of Experience

Less than 1 year
2%
1-4 years
18%
5-9 years
23%
10-19 years
34%
20 years or more
23%

Common Health Benefits

medical benefits
Medical: 65%
dental benefits
Dental: 53%
medical benefits
Vision: 43%
dental benefits
None: 34%
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