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 aid in determining 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 intricately details property specifications such as number of rooms, square footage, etc., in comparison to benchmark properties to determine like value.
The real estate appraiser trainee generally performs two types of appraisals, conventional and FHA. Therefore, as a licensee, one should have thorough knowledge of state and government compliance requirements of both, conventional and FHA appraisals, as FHA appraisals are more restrictive and adherence to policy is mandatory.
A real estate appraiser trainee should possess highly developed analytical/math, communication and writing skills and abilities and be able to interpret, extrapolate and evaluate data to create a professionally detailed written report of estimate of value. Proficient knowledge of computerized applications such as spreadsheets and databases are helpful aids to job performance.
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.