A real estate appraiser trainee is usually a newly licensed appraiser who works under the direct supervision of a state-licensed senior or chief real estate appraiser while in training. Usually a trainee must perform a specified number of appraisals within an allotted time frame to advance as a fully trained independent real estate appraiser.
A real estate appraiser trainee typically assists in performing comprehensive analysis of real property, including fieldwork analysis of neighborhoods, land, buildings, homes and ancillary structures. These findings are typically used by banks and lending institutions to help determine loan amounts for purchasing, refinancing, equity and other purposes. They may also be used by tax assessors to set county taxation rates on structures. This analysis details property specifications such as number of rooms and square footage in comparison to benchmark properties to determine like value.
The education requirements for a real estate appraiser trainee usually include a high school diploma and state license as a qualified appraiser from an accredited real estate school, U.S. college or university. The real estate appraiser trainee generally performs two types of appraisals: conventional and FHA. Therefore, licensees should have thorough knowledge of state and government compliance requirements of both. Additionally, a real estate appraiser trainee should possess highly developed analytical, math, communication and writing skill, as well as be able to interpret, extrapolate and evaluate data to create written reports of estimates of value. The ability to use basic computer software is needed as well.
Real Estate Appraiser Trainee Tasks
Assist the real estate appraiser in searching public records and preparing written reports and property value estimations.
Compare legal descriptions of properties by comparing them to county records.
Assist in inspecting properties for condition, construction, and design.