What is an Appraiser?

According to The Appraisal Foundation, an appraiser is one who develops and reports an opinion of value on a specific type of property. Appraisers may opt to specialize in various disciplines such as:

• Real Property appraisal, which is the valuation of real estate. Real property appraisers can choose specialties to practice within such as residential, commercial and agricultural.
• Personal Property appraisal, which encompasses all types of personal property such as fine and decorative arts, antiques, gems and jewelry and machinery and equipment.
• Business Valuation, which is the valuation of business enterprises and/or intangible assets, which could include trademarks, patents, business names or logos.
• Mass Appraisal, which entails valuing multiple parcels of real property or personal property using standardized methodology and common data.

Federal law requires that appraisers who value real property for federally-regulated financial institutions must be state licensed or certified. There are no federal or state licensing requirements for personal property or business valuation appraisers. At McKissock, we specialize in providing education for individuals who want to become real property appraisers.