Appraisal Profession to Grow!
According to the Bureau of Labor Statistics, the Appraisal Profession is expected to grow 14% by 2026
|Quick Facts: Appraisers and Assessors of Real Estate|
|2017 Median Pay||$54,010 per year|
$25.97 per hour
|Typical Entry-Level Education||Bachelor’s degree|
|Work Experience in a Related Occupation||Long-term on-the-job training|
|Number of Jobs, 2016||80,800|
|Job Outlook, 2016-26||14% (Faster than average)|
|Employment Change, 2016-26||11,700|
Even the Bureau of Labor Statistics understands the importance of the appraiser visiting the property:
Although appraisers and assessors of real estate work in offices, they often spend a large part of their day visiting properties. Most work full time during regular business hours.
See the entire report on their website.
Make sure to watch the video. There is more about the appraiser than inspecting the property!
Excerpt from Bureau of Labor Statistics:
Appraisers and assessors of real estate held about 80,800 jobs in 2016. The largest employers of appraisers and assessors of real estate were as follows:
|Local government, excluding education and hospitals||30%|
|Finance and insurance||6%|
The median annual wage for appraisers and assessors of real estate was $54,010 in May 2017. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $28,440, and the highest 10 percent earned more than $101,710.
In May 2017, the median annual wages for appraisers and assessors of real estate in the top industries in which they worked were as follows:
|Finance and Insurance||$66,170|
|Local government, excluding education and hospitals||$50,150|
Earnings for independent fee appraisers can vary significantly because they are paid fees on the basis of each appraisal.
Employment of appraisers and assessors of real estate is projected to grow 14 percent from 2016 to 2026, faster than the average for all occupations.
|Appraisers & assessors of Real Estate||14%|
|Total, all occupations||7%|