Real Estate Appraiser Salary

Out of the several different jobs that demand a lot of attention to detail and observation, a career opportunity as a real estate appraiser is a prominent one. As the name suggests, this is a professional whose main responsibility is to assess the present real estate market conditions and find out the value of the property to be dealt with. The value finalized can be used for purposes such as loans, mortgage, home buying, home selling, etc. The salary range depends greatly on the amount of work they do and on which type of property, whether commercial or residential.

Commercial Appraiser Salary

Those specialized in commercial real estate appraisal focus on evaluation of commercial property. Commercial appraisers possessing a work experience from one to four years can expect a pay starting from about $36,000 to $62,000 yearly. Those with an overall experience of five to nine years can earn anywhere between $49,000 to $71,000. After 10 to 19 years in the industry, the salary range goes up to $50,000 to $95,000. Over 20 years of experience in property assessment can get you around $62,000 to $101,000.

The states of New York and California show the pay range to be around $52,000 to $106,000 and $59,000 to $95,000 per annum, respectively. States like Georgia and Texas also have a good earning potential from about $46,500 to $92,500 and $41,000 to $92,000 annually. Coming to the city wise classification, New York city can offer about $70,000 to $144,000. Dallas also has a considerable earning scale from $49,000 to $141,500 per year. On the other hand, real estate appraisers in Miami are considered to get a yearly pay ranging from $50,000 to $105,000.

Residential Appraiser Salary

These appraisers deal with residential properties for evaluation and price assessment. One to four years of work in real estate appraisal can make you eligible for a salary ranging from $28,000 to $49,000. The salary range for job rises from $28,000 to $49,000 for those possessing five to nine years in the real estate industry. Those having a work experience of 10 to 20 years can expect to be paid anywhere up to $73,000 per annum. Professionals with over 20 years of expertise can even earn up to $98,000 if not more.

California and Florida are reported to be the highest-paying states for residential real estate appraisers. The pay scale in these two states ranges from $48,000 to $88,000 to $42,000 to $85,500 respectively. The pay range in Maryland and Illinois starts from $25,000 and $37,000 and scales up to $78,000 per annum. In Seattle, the salary ranges anywhere between $42,000 and $132,000 per year. In cities like Phoenix, Atlanta, and Los Angeles; the highest pay is approximately $74,000 annually.

These are just a few determinants of the real estate appraiser salary. For trainees, the annual remuneration can range between $23,600 and $45,000 as freshers. If you are wondering how to become a real estate appraiser, you basically require a bachelor's degree, a course in real estate appraisal, and a state license for practicing the job.