Best Real Estate Advertising Ideas

If you’re not visible in the real estate market, you don’t exist from the commercial viewpoint. Buyers who’re looking out to buy their dream home are always on the look out for properties that they can reach through credible sources. So if you’re a real estate broker, you must take the advertising part seriously. Earlier, word of mouth publicity or references and for-sale-sign were the only way to sell a property. However, times have changed with the evolution of the Internet. Visibility in the real estate market can be increased by following some of these tips.

The Ubiquitous Classifieds
Local and national newspaper classifieds are still not obsolete, and so you shouldn’t mind advertising in them about your property. This is specially true for large-scale real estate firms who have dozens of properties to be sold. Thanks to the Internet, even online classifieds are available on websites like Craigslist. In fact, every Internet search engine, be it Google or Yahoo, has its own real estate listings. You can take the help of their listings. Do include digital images of the property you’re showcasing. Your buyer may like the design of your property and if he is interested, he may visit the property to see it personally. You can also post information or ads on social sites like Facebook.

Virtual Reality
Ever made a video or done something similar? If not, then it is the time to do so. If you’re a large real estate firm, hire professionals and make a video featuring your property and surroundings. Professionals will do it very creatively, and it will look like a typical TV ad. Upload it on YouTube and register with companies that help in uploading virtual tour videos on several real estate marketing websites. While YouTube membership is free of cost, you may have to pay some money to virtual tour video uploading companies.

Online Advertising, a Present Reality
Pay per click advertising has been the biggest hit in recent years. You can take the help of Google AdSense to put ads of your property on the Internet. When a user is searching for information related to property, the ad may pop up informing the reader about your property. You’re only required to pay for the ad, if the user clicks on it. The same link can be used to direct users to your blog or real estate firm website.

A Pen is Mightier than a Sword
Start a blog dedicated to real estate. Take SEO help to rank. In fact, there is not a great need for SEO work, if you’re wired to a network of professionals in the same field. Nevertheless, technicalities and authentic information do matter and the reader may find it pleasing to know everything on a single web page. You can also earn through your blog by placing ads on it.

Organize Fairs/Events
If you’re a large real estate firm, you may not need sponsors to help you organize a great business fair or property exhibitions. In fact, a large number of firms and newspapers will automatically help you to make the program a grand success. In the property exhibition, you can make models of all the properties you’re trying to sell. Meet some marketing professionals to know the creativity you can show in presenting information to people. Don’t forget to distribute pamphlets, business cards, and post ads in local newspapers regarding the property exhibition. Through the contacts you have built, invite a popular figure from the real estate market to inaugurate the function.

Billboards Do Strike the Minds
Every time I’m outside on the roads, I happen to carefully notice various billboard advertisements. Certainly billboard advertising is a great way to attract people. Though they may be distracting at times, even a glance at them, makes us remember any new ad or any new product launch. It is a creative way to make a place in the customers mind.

Creative For Sale Signs
Traditional advertising techniques like for-sale-signs may not be so popular now, but they do have a small, yet significant, role to play. Place for-sale signs on the gate or near a property, as it reminds people going through the route that the property is up for sale. You can be creative by putting your website or blog link on the sale sign, and can also give your professional contact number below it. Ensure these two things are readable on the sign board.

For large real estate firms, advertising properties is certainly a matter of millions in investment and they do that in style. For private owners or any independent real estate broker, even a small snippet in cable television or online classifieds are enough. The capital invested in real estate advertising can vary depending on who you are; a home owner or a real estate tycoon!

Commercial Real Estate Marketing Ideas

No matter what official reports may depict and economic surveys may show, we all know that there is no dearth of prospects who would be interested in buying a piece of prime real estate. However, supply of land is limited and demand always exceeds it, especially if it is lucrative. So you must be thinking that it is a cinch for real estate owners to sell their offerings at good prices. Well, it’s not always the case.

When it comes to small-sized properties, attracting prospects can be quite a challenge, given the large number of options available in this segment, in the same location. So, how do people dealing in such commercial properties grab the attention of interested parties? Here are a few handy tips:

Cash in on Expired Listings

An expired listing is the easiest way to get you the right leads. Well, the fact that it’s an expired listing clearly points towards some unpleasant issues that have taken place previously, which have left the prospects disillusioned and feeling betrayed by the dealer. This is the best opportunity to win them back, by positioning yourself differently from your predecessors and walking the talk. In fact, you can actually enter the scene as a consultant and then lay down your pitch once you’ve won their confidence.

Start a Circular

If finances are not a constraint, you can approach the newspaper publisher of the target area and get them to print a 2 – 4 page free supplement on current real estate trends and a listing of the properties under your dealership. This supplement can be a weekly one and be dropped along with the main newspaper on a Saturday or Sunday, because a weekend is the time when most people would indulge in the luxury of a detailed scan of the newspaper.

Contact the Owners

One of the best marketing plans is to contact the owners of For Sale by Owner properties directly. You can easily get their contact details from the newspaper or other published advertisements, and make cold calls. However, if you are not averse to some field work, you can take a tour of the target area and make a note of the properties that hold signs expressing the need to sell or rent the property, and then contact the owner in person. Direct contact makes a better impression than random calling, as the owner would have received multiple cold calls. Your meeting him in person makes you likely to be better remembered than the others.

Advertise

This is one of the most conventional but effective ideas for marketing commercial real estate. Make your advertisement creative, yet relevant, and you’ll be surprised by the volume of response. When you advertise, you get contacted by a lot of prospects who are not included in any list or who do not advertise their property themselves. You can also take the help of a bulk mailing list, either existing or newly drawn up, to send direct communication to prospects.

Lastly, cold calling, the most conventional method, qualifies as a workable option every time. However, rather than resorting to it as the primary method, you can use it as an auxiliary strategy to provide a boost to your overall marketing plan.

Developing Your Real Estate Marketing Plan

You have just begun an ambitious plan of setting up your very own real estate business and you are in need of some marketing ideas. Here are some ideas for people like you out there.

For any kind of business to prosper, what you need, besides quality service, is marketing. It is all about developing your contacts and networking among the populace. So, marketing is the heart and soul of the real estate business.

Market Research: The Foundation

Without research, you cannot understand whom to market your services. You have to identify your target clients and the nature of market dynamics in your area. Know the needs of your clients, identify your competitors, and what kind of facilities they are offering to clients.

You must have a detailed information database of real estate prices in your target areas. Also, make a record of recent sales and purchases in your area, if possible. Once you finish your research, you will know your target clients, interested in real estate investment, their needs, the options to fulfill their needs, the realtor competition, and their tactics. Knowing all these, now you can devise your marketing plan, that will create your contact network and help you in aggressively competing in the field, for your share of clients.

Marketing Ideas

Here are some marketing tips that will help you to net clients.

Business Cards
Business cards, the traditional marketing tools, are still the most important forms of marketing. Personally meet and distribute your agent card in business circles, as well as to prospective buyers and sellers. What people want is a person whom they can trust, to find a buyer for their property or who can find them a place in a good locality, providing help in transactions along the way. Give that personal touch in your marketing, rather than just relying on huge banner advertisements.

Advertise in Newspapers
Internet is overtaking the print media slowly and surely, in popularity. Still, newspapers remain the best options for placing your real estate advertisements. Place your advertisements and listings of properties available for lease and sale, along with your contact number.

Advertise on the Internet
Start your own site on the Internet through web designing, which will have all the detailed listings of properties, which are available for lease or sale. You can even set up an interface, wherein prospective buyers could enter their expected real estate investment demands and sellers can fill in theirs. This way, you can get clients online.

Referrals from Past Clients
Encourage referrals from past clients and provide them with some incentives for the same. If you will offer good service to clients, your name as a good agent is going to spread by word of mouth.

If you keep improving and innovating your quality of service, people are bound to remember you as the guy who got them their dream home. Provide a detailed brochure of information about the locality to clients shopping for a home. You can provide additional value-added services like helping clients to get mortgage loans. This can include photos as well as information about events in the area. Never forget the personal touch.

Hope these ideas have given you some food for thought. You could come up with more innovative marketing ideas, if you really put your thought into it.

Real Estate Marketing Tips

People who are interested in acquiring or selling property, can contact either a buyer’s agent or a seller’s agent respectively. Real estate agents work for brokers, and earn a commission on purchases and sales. Generally, a seller’s agent earns more than a buyer’s agent, since the latter is paid a percentage of the purchase price or listed price as commission, while the former earns a percentage of the sales price as commission. A good buyer’s agent needs to bring down the purchase price of the property, while a good seller’s agent ensures that the property is sold to the highest bidder. Hence, the difference in remuneration. Regardless of whether one is a broker or a real estate agent, one needs to market the investment property in a manner that is appealing to the buyer. The following tips may be useful to Realtors and brokers desirous of clinching a good deal.

Effective Communication
The importance of good communication skills cannot be underestimated since the agent or the broker needs to convey his/her beliefs, ideas, and thoughts to the customer (buyer or seller) and assess the needs of the prospective buyer or seller and arrive at a mutually acceptable solution. An agent or a broker who has a number of property listings will be unable to clinch a buyer unless he/she is able to present the property in a manner that appeals to the aesthetic sense of the customer. The unique selling proposition (USP) of the house should be clearly communicated. Again, a seller’s agent needs to be able to convince the customer about the prudence of entrusting the task of selling the property to him/her. This brings us to the mode of communication.

E-Business
Nowadays, e-business is the preferred mode of conducting transactions. It comprises setting up a website, helping the potential clients navigate through the website, and showcasing the available products in a manner that would encourage prospective customers to transact with the real estate agent/broker. Virtual tours are an excellent way of providing buyers a glimpse of the home. The buyer can have the satisfaction of touring the entire house or property that he/she is interested in with the aid of slide shows and accompanying audio description. People who are looking to sell their property need to have confidence in the professional who professes to sell the property for a profit. The seller’s agent needs to ensure that the website describes, in detail, the professional services that can be expected from the seller’s agent. The professional needs to distinguish himself/herself from competitors, and communicate with clarity and precision the extent of services that can be expected by the customer. Moreover, the website should not lack visibility. Again, video clips of the homes that have been sold by the agent/broker, may help drive home the point. The agent/broker may also upload a small video clip of himself/herself to make the presentation seem less impersonal.

Promotion
Permission based email marketing is a highly effective promotion strategy since the product information, or in this case, information about real estate, is supplied to people who are looking to buy or sell real estate. Contrary to popular belief, email marketing generates the maximum return on investment as compared to the other modes of direct marketing. The Direct Marketing Association has predicted that the return on investment in case of email marketing for the year 2009 is expected to be $43.52 per dollar spent. Sometimes, local Multiple Listing Services (MLS) may be the best bet as far as promotion is concerned.

The above list is not comprehensive. Ultimately, agents need to find a system that works for them. Designing a good website, permission based email marketing, and using MLS may attract potential clients. However, the ability to complete the transaction is contingent to the agent’s prowess as a good salesperson.

Real Estate Internet Marketing Tips

Emergence of the Internet has prompted a radical change in commercial trends all over the world. Today, online marketing has become the key tool for numerous businesses, to bring in customers. Real Estate is one of them. Of late, Internet has become the first place for most of the potential buyers, in their search for a home.

Advantages of Marketing Real Estate Online

1. Internet buyers make for better clients. A general online marketing trend reveals that these clients are wealthier and ready to buy more expensive homes.

2. Internet shortens the search for potential home buyers. It saves a lot of time and energy and is often more cost-effective than the traditional ways of marketing.

3. As it takes much lesser time to go through, clients can view more listed homes online and are able to narrow down the search to their desired ones.

4. Studies also reveal that the average age of potential home buyers is coming down, and this younger generation has grown up with the use of Internet in their daily lives.

5. Home buyers availing Internet services for their home search are also well-informed about the whole purchasing process, and expressed better liking for their real estate agents. In fact, almost 80% of Internet home buyers use an agent, which is greater than the traditional buyers who prefer them with a 70% probability.

In addition to the vast viewership of outstanding potential clients, the Internet offers both expediency and cost-efficacy that traditional marketing media cannot offer. Now websites are more appealing and instructive, than even the best promotional materials like brochures. Communication offered by emails makes it quite easier and cheaper to keep in touch with your past clients.

So, if you are a real estate agent and have not yet explored the benefits of online marketing, then you’re losing a vast base of potential clients.

Helpful Tips

Notwithstanding the enormous swing of online buyers, most realtors complain that their websites aren’t productive of any new business. While most real estate agents recognize the significance of Internet marketing and readily purchase a website, they usually do not put in the methodical efforts and time to achieve the goals. As an agent, you can achieve your goals by making your site truly effective.

This may happen due to exaggerated promises from their web designers, a misunderstanding of Internet functioning, or a lack of direction. Due to these factors, many websites are falling far short of their potential. So make sure that you are taking an active part in the creation of a stronger web presence for your practice. Master the techniques of search engine optimization. You must learn how to increase web traffic and convert leads into clients. Here are a few tips for you.

1. Make your Website More Appealing – When people visit your website, you don’t have much time to capture their attention, before they hit the back button. So make the home page more interesting, with minimal distractions. Make it more informative for potential home buyers. Avoid misuse of pop-up windows or flash. Use only fast-loading graphics and other elements. The web pages present on your site must be lightweight.

2. Enlist your Website – Search for the hottest Internet web directories and enlist your site there. This can be one of the easiest and most effective ways of free web promotion. Make your site rich in content and appearance to get accepted in your directory of choice.

3. Search Engine Optimization – Respect the search engines. Follow the practice of using web pages that don’t incorporate large amount of code, unrelated to your content. Avoid the poor use of frames. Search engines do not index content from frames that well. In order to enhance web traffic, try to develop links with other real estate sites in your area that do not compete with you.

There are many factors that contribute to a website’s search engine ranking. Inbound links are one of the biggest factors. Hunt for such inbound links and acquire them. It is always a better SEO practice to upload your site map. If a search engine finds your XML sitemap file, there’s a good chance it will find, crawl and index (record) all of your web pages. Putting keywords into hyperlinks is one of the easiest on-site adjustments you can make to improve the search engine visibility of your website.

4. Create a Blog – Blogging can be more than a communications tool and networking platform for real estate professionals. It can convey personality, generate leads and boost business. After creating the blog, don’t forget to get enlisted in directories; it will only help the cause.

5. Publish Online Articles – Publishing an article is a proven way to grow your online presence. Online articles support your Internet marketing program in a number of ways, ranging from search engine visibility to page ranking.

6. Display email id – Users hate being forced to fill out forms to gather information. Some users may accept this online form as expediency; but some users may prefer to use their own email to contact the agent directly, so that they will have a record of the email.

7. Minimize Attrition – Attrition follows you, for every step of your real estate Internet marketing campaign. Attrition refers to people who “drop off”, along your marketing process, somewhere between first contact and client acquisition.

8. Create Lead Generation – Remember, website traffic is only unproductive traffic until you act upon it. To get those visitors to act in some way to become your clients, you need to create a lead-generation program based on value and incentives. Don’t forget that people are used to respond to a well-presented offer of value, be it online or offline.

So be creative, attentive, ever learning and success is not far away!

How to Get a Real Estate Broker License

There are three types of professionals who operate in the real estate markets to sell property on commission. These are salesperson, licensed brokers and realtors. There is a subtle difference between the three, but on the whole, it can be said that a broker is a more credited and recognized professional, as the real estate broker license is granted by the Department of Real Estate or the Department of Licenses of the said state.

A license is granted only after an applicant goes through a certain coursework and a licensing exam. In the following paragraphs a brief overview of the licensing exam course work and the advantages of taking up the licensing procedure has been described.

Getting the License

The United States being a Federal system, the affairs that are related to real estates come under the jurisdiction of the state governments. All the state governments have a Department of Real Estate, that governs all issues relating to real estate.

Thus, in case, if you are interested in real estate as a career prospect, you can visit the official websites of the said departments. The broker license is of course, governed by these departments. The conception of license was introduced in order to cater to the governance of the real estate markets, sales and purchases.

From the governance point of view, the big problem with real estate investments is that the area of land that is in existence is limited whereas the population is ever-increasing. Thus the need or demand for land is always on the rise, whereas, the availability tends to be limited. This has of course led to prices shoot up and remain high. Such conditions have increased the complexity of the real estate market, which has prompted governments to introduce authorization for real estate professionals.

Since state governments control the licensing procedures and governance, you will have licenses that will differ as per states, such as California broker license, New York broker license. Though some specified applicant requirements differ from state to state, there are some general and common requisites that need to be fulfilled to become a licensed real estate broker:

  • The primary requirement is that the broker needs to be an adult (at least 18 years of age) and should be a citizen of United States and a resident of the said state, though some states allow out-of-state applicants.
  • Most of the states require from the candidates to have at least 2 years of experience of real estate transactions within preceding 5 years.
  • Applicants need to complete 8 statuary courses which generally include, Advanced Legal Aspects of Real Estate, Advanced Real Estate Finance, Advanced Real Estate Appraisal, Business Law, Computer Applications in Real Estate, Common Interest Developments, Escrow, Legal Aspects of Real Estate, Mortgage Loan Brokering and Lending, Real Estate Practice, Real Estate Finance, Real Estate Appraisal, Real Estate Economics or Accounting, Real Estate Principles, Property Management and Real Estate Office Administration. In some states a classroom coursework worth 30 to 90 hours is also required.
  • In some states, real estate attorneys or certain college graduates with related degrees are granted exemptions in the coursework.
  • In certain cases, the coursework is divided into groups or semesters, and the classroom coursework is to be taken up at certain credited institutes of higher learning.

There are a considerable number of advantages of taking up the broker license. For example a licensed broker is authorized to prepare contracts and leases, do residential appraisals, prepare certain sales documents, do a comparative market analysis, charge customers on an hourly basis and also hire sub-brokers, realtors and salesperson. Basically, a license gives you more recognition when you conduct a real estate deal or real estate negotiations.

The basic advantage of the license is a genuine recognition in the real estate market, not to mention a really good real estate broker salary. Note that the coursework that is involved in obtaining a broker’s license is not exactly simple, and a lot of hard work has to be put into the coursework in order to clear the exam.

How Much Money do Real Estate Agents Make

Generally, real estate agents work for real estate brokers, who act as intermediaries between buyers and sellers of real estate. Real estate, that includes land and all permanent fixtures on the land, can be classified as residential or commercial. The classification depends on whether or not the property generates income. Commercial properties are income generating properties, while residential ones are meant for occupation by the owner as his primary residence. In order to become a real estate agent, a person needs to be at least 18 years of age and should have graduated from high school. Moreover, he needs to complete 75-80 hours of course work and obtain a license. He can act as buyer’s or seller’s agent.

Monetary Earning

Agents Dealing in Residential Properties

The price of real estate is affected by both local and economic factors. When the market is booming, an agent can make oodles of money. A seller’s agent makes money through commissions, which are determined as a percentage of the sales price. So when the prices appreciate, the seller’s agent stands to gain in the form of huge commissions. Since the current market is not a sellers market, it would behoove us to take a look at the payment structure for a buyer’s agent.

A buyer’s agent is entrusted with the task of scouting for suitable properties, either residential or commercial, and getting a good deal for the buyer. A good deal would mean a low purchase price. The current market is a buyers market, since property prices are at an all time low. A buyer’s agent is generally paid a percentage of the purchase price or listed price as commission. Sometimes in addition to receiving a percentage of the purchase price, he is also entitled to a percentage of the difference between the listed price and the purchase price. In addition to this, he is paid an hourly fee and promotional expenses. It’s evident that a seller’s agent earns much more than a buyer’s agent, since the latter will stand to lose in the event of the buyer getting a good deal.

Agents Dealing in Commercial Properties

These agents earn commission on the sale and purchase of land and commercial real estate. The commissions, for both residential and commercial real estate, are negotiated in a similar manner. In case of rental apartments, the agent is paid a rental commission by the real estate company responsible for renting out homes and apartments.

Broker Price Opinion (BPO)

Agents can also earn money by offering their opinion on the worth of the property to lending institutions. A fixed fee is paid for it.

Other Ways of Earning

Some states allow agents to appraise properties. In this case, they earn an appraisal fee. Experienced professionals can also earn by conducting seminars and training sessions.

When times are good, average salaries can be as high as $65,270. In fact, a really good agent can earn more than $100,000 a year. However, the median pay for these professionals in 2012 was $41,990 only.

Basis on Which They Make Money

In case of residential properties, an oversupply has resulted in pulling down the prices of homes. Many people are preferring renting to owning, since they are unable to afford the mortgage payments. In this situation, commercial real estate agents can earn commissions by bringing together landlords and tenants. It is a good time for business owners to invest in commercial properties, since they can acquire property at a really cheaper price. However, buying a commercial property is much more complicated than investing in a residential property. This is because, unlike residential deals, commercial ones do not require mandatory disclosures. Hence, a commercial real estate agent’s services are indispensable. Thus, a commercial type agent can hope to earn much more than an agent specializing in residential properties. However, the deals are generally complicated and time-consuming and involve huge sums of money. Consequently, a commercial type agent is paid more, but at less frequent intervals.

Requirements to Become a Real Estate Agent

A real estate agent is an individual who helps one, either to buy a home or stay as a tenant. He even assists people who need to lease their apartment or house, for other people to live in. Estate agents have knowledge about residential areas which are always in demand for residency, and the cost of living in those areas too.

A person needs to have some prerequisites before entering into the field. He needs to be strong in general knowledge, well aware of the market situations, acquainted with the real estate field and have strong convincing skills to win the deal. He also needs to be business-minded, as there is a very tough competition between other experienced agents in the same sector.

The invention of telecommunications and the Internet technology has proven to be very beneficial to the real estate field. It enables the agents to easily obtain information about estates and properties, to contribute to their businesses. They have a large database of information about houses, flats, bungalows, land, properties, etc. which are to be rented out or sold.

If a client wants to buy or sell a property, he approaches the agent, who then with the knowledge and information helps him to choose the right property or choose the right customer, according to his requirements. The responsibilities include showing properties, providing information about estates, sorting out properties for sale, meeting potential customers, or studying the real estate market. They may be required to work for more than 40 hours per week, either in office or on the field.

A potential candidate would need to have friendly behavior, problem-solving capabilities, a confident personality, and organizational skills. However, only these requirements are not sufficient to become a realtor. One obligatorily needs to be licensed from the respective state, where he would be working.

Preparing and submitting attractive resumes won’t do much to show your skills. Each state in the US has different requirements for one to become a licensed realty agent. First of all, you need to own a high school diploma, and be over 18 years of age. If there are any criminal records and reports against you, it can be very hard for you to get a license.

You need to undertake a pre-licensing course from any real estate school, which would lead you to obtain a license. In a majority of the states, it is compulsory to attend classes first, one just can’t skip them and take the exams directly. The coursework will teach you about several sections of the real estate field; such as legal, financial, property appraisals, and real estate moral philosophy. After thorough preparation, you can take the exam. You would need to utilize your ‘math’ and ‘stats’ skills for the financial, and property appraisals section, and creative and logical thinking for the legal and ethics section. The course fees may depend upon the school and state which you’re taking the course from.

In a majority of states, you are required to have an agreement with a broker, before you take the exam. After you successfully complete the test and obtain the license, you are supposed to send your license to the broker and complete all the contract formalities, as you are not allowed to start your work independently. A ‘broker’ is an entity, whom you’d be working under, so you need to find one whom you are fine in working with. It’s recommended that you at least consult with three brokers from different companies for the contract.

These are the steps that will help you become a real estate agent. But if you truly need to be strong and well-known in the realty market, you need to have a state license, know all legal rules, regulation and formalities; and also have the much-needed experience in the same field.

How to Become a Real Estate Appraiser

Real estate appraisers are professionals who use their expertise in assessing real estate, and determining its value by employing specific conditions and measuring standards. They are people who were and currently are in great demand due to their unique skills and expertise in the real estate field. Insurance firms, federal agencies, tax assessment companies, real estate agents and firms, lawyers, museums and private collectors are some of the entities, who require the services of these experts.

Appraisers may even provide other services to their clients, such as home buying, home selling, real estate negotiations, etc. Due to the many requirements that lead to property appraisals, appraisers have the option of specializing in diverse fields. If you are planning to become a real estate appraiser, you need to possess a basic understanding of how the real estate and property business works, and what are the various operational aspects.

Types of Real Estate Appraisers

Appraisers are responsible for assessing not only residential property, but also commercial and agricultural holdings. Some people hire or take assistance from a personal property appraiser to evaluate the value of their vehicles, art, jewelry, antique furniture and collections.

The services of business appraisers are utilized in order to assess and determine the value of businesses, and all its assets which most importantly comprises its brand name. A professional from the real estate appraisal field ought to be a good communicator and possess high analytical thinking qualities. He should be capable of drafting concise and lucid reports for his clients.

Becoming a Real Estate Appraiser

As in any other profession, there are certain steps for becoming an appraiser. Licensing is required in most of the cases, particularly for the appraisal to be formally recognized as legal and valid by the federal government or any financial institution. Getting the related certification requires a certain number of hours to be spent in classroom training at a real estate appraisal school, and the capability to get through the real estate exam successfully.

In the USA, prospective appraisers are at least required to possess a bachelor’s degree to be considered eligible for this profession. However, it is possible to become an appraiser even without possessing a bachelor’s degree, provided tantamount college credit hours have been obtained.

There is no particular requirement for the field of study, however, those who plan to take up this as a career option mostly choose subjects like economics, business or finance. These subjects are somehow related to the field of real estate, and serve as a good background that will help in precisely determining market valuations for property.

The needed classroom time may depend upon the state and region of residency. In some states, there is a possibility of deputizing the need of classroom time for an equivalent correspondence or online degree programs. However, the course needs to be recognized by the ‘board in charge’ of certifying real estate appraisers in a particular area.

The course generally includes topics on real estate law, local federal aspects, related ethics, and some other factors regarding the real estate industry. After the completion of the course, the next step is taking the appraisal exam. Generally, taking the exam is easier for individuals who have gained significant knowledge in the course.

The exam is normally held at particular times in a year, or may be administered on demand, depending on the state. If you need more information regarding the exam and other requirements, you need to inquire with the regional real estate licensing board.

After the completion of all requirements, you need to complete the paperwork which includes an application form. In some cases, you would also be required to pass through a criminal background check. While dealing with paperwork, ensure that you include all information regarding test results, real estate course certificate, and other related documents.

The earnings of real estate appraisers largely depend upon the clients, expertise, experience, specialty, market reputation, and the level of professionalism. The annual earnings may range from $30,000 to even $300,000.

Real Estate Appraiser Job Description

There are innumerable work profiles in the job market, making it difficult for a candidate to choose the right career. The key in making the right career decision lies in understanding your interests and doing a thorough analysis of the concerned career. Real estate is a booming field and a real estate appraiser is an integral part of this sector. His primary task is evaluating the price of a property after doing thorough research. Accurate value of a property is required during purchase or sale of property, or during mergers, for application of loans, etc. The job also comes with huge responsibility on some occasions, the testimony of an appraiser is required in court hearings to evaluate and confirm the value of a property in matters of dispute.

Where does he work?
Real estate appraisers work for real estate companies, in mortgage firms, insurance companies, banks or work privately.

What are his duties?

  • The chief duty of the concerned person is appraising a property. To accomplish this task, he has to inspect the property and evaluate factors like construction and plan of the property.
  • He should keep himself abreast with the trends that govern the real estate market.
  • After evaluating all the factors he has to prepare reports; the reports generally include photographs, description of the concerned property, blueprint of the property and the final assessment of the valuation.
  • To determine the exact value of the property he can scrutinize public records of loans and leases.
  • During the inspection process he also has to consider the impact of neighboring structures, like commercial establishments or educational institutes, on the value of the said property.
  • To determine the exact value of the property he should consult realtors, property owners and contractors to gain required information concerning the property.

What are the educational qualifications to become one?
The requirements to become a real estate appraiser are not very stringent, although the licensing procedure that is mandatory in appraising federally governed transactions is quite strict. The following three licenses are widely accepted – the State Licensed Appraiser license, the Certified General Real Property Appraiser license, and the State Certified Residential Real Property Appraiser license. The State Office for Real Estate Appraisers (OREA) manages the licensing procedure and also conducts the necessary examination. The candidates working to get a license have to complete internship at real estate companies, or with independent appraisers, or financial institutes; this is a part of the licensing procedure. There are many colleges and educational institutes that offer courses in real estate appraisal. It is important that you become a licensed appraiser, as you will have the authority to validate any property.

What additional skills should I have to be successful in this field?
The desirous candidate should have strong command over mathematics and logic. The appraisers are expected to have sound knowledge of accounting, management principles, human resources and word processes. The appraiser should have the ability to solve complex problems, and at the least should have documenting skills to describe the property with all its landmarks.

How much can I expect to earn?
We cannot provide an accurate salary figure as the pay is influenced by plenty of factors, including the state of working and the type of appraising, that is, private or public. Commercial appraisers can expect to earn around $85,000 per year. Work experience of the person can influence the salary figures to a huge extent. State appraisers are entitled to get benefits in the form of sick leaves and health plans.

What are the future prospects in the field?
The scope of the concerned field is a factor you should pay keen attention to. Most appraisers specialize in a particular type of evaluation or climb the ladder to become senior appraisers or real estate analysts. After sufficient years of experience, appraisers can also become consultants.

Becoming a real estate appraiser is indeed tough; it demands hard work from the candidate along with expertise in many concepts, especially in mathematical evaluation and in the understanding of business terms. The desirous candidate should also be ready to travel as his work requires him to visit and inspect the land property. The career is suitable for you if you have it in you to become an appraiser.