If you’re considering a career in appraisal, you probably want to know: What’s the average real estate appraiser salary? Survey data from the 2022-2023 Appraisal Salary Guide shows that an appraiser’s annual income varies according to factors such as license level, years of experience, and more. Here’s a look at the average real estate appraiser salary, plus tips on how you can maximize your income as an appraiser.
Get tips and insights to increase your earning potential in the 2022-2023 Appraisal Salary Guide.
Real estate appraiser salary snapshot
On average, appraisers earn $102,620 a year. However, as you can see from the chart below, the average appraiser salary varies significantly across license levels.
Trainee appraisers earn an average annual income of about $53K. Licensed appraisers earn approximately $89K per year. Certified residential appraisers earn more than $101K annually. And certified general appraisers earn the most, making approximately $145K per year.
Other factors that affect appraiser salary
Data from the 2022-2023 Appraisal Salary Guide shows that the average real estate appraiser salary rises not only with license level, but also years of experience and number of hours worked.
Years of experience
Like with many professions, the more time you put in, the more your hard work pays off. Average earnings tend to increase the longer an appraiser is in the profession, with the greatest jump being from 0-2 years of experience to 2-5 years of experience. Appraisers who have put in 16+ years in the appraisal industry tend to make the most ($118K), while those who have less than 2 years of experience earn the least ($43K).
Hours worked per week
For appraisers who want to maximize their earnings, they’ll need to put in the time. It’s not surprising that the more hours worked, the more income earned. For example, appraisers who worked 11-20 hours per week earned an annual income of approximately $58K, on average. Appraisers who worked 31-40 hours earned almost double, making more than $102K yearly.
Those reaching the highest earning potential are working over 50 hours per week. Appraisers who work 51+ hours per week earn about $150K annually. That’s over $47K more per year than appraisers working a 31-40 hour work week.
Are appraisers salaried employees?
Note that many real estate appraisers work for themselves and are not salaried employees. If you operate as an independent appraiser or run your own appraisal business, your income will vary somewhat from year to year. Many people choose an appraisal career because of the flexible schedule and the opportunity to make good money.
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How to increase your real estate appraiser salary
The 2022-2023 Appraisal Salary Guide offers many insights into how you can maximize your earnings and increase your appraiser salary. A few key strategies for growing your income include upgrading your license, specializing in commercial properties, and sharpening your business skills.
Upgrade your license
One of the best ways to maximize your earnings is to upgrade your license. Each license level requires you to develop new skills that allow you to appraise different property types. The higher the license level, the higher the income. (See the “Real estate appraiser salary snapshot” at the beginning of this article for details.)
Home appraiser salary vs. commercial appraiser salary
Additionally, certain specializations can increase appraisal earnings. While most appraisers surveyed have specialized in residential properties, data shows you can increase your earning potential by specializing in hospitality, commercial, or agricultural properties.
In fact, appraisers who specialize in hospitality properties earned $139K on average in 2022, while those specializing in commercial and industrial properties earned $112K. Those specializing in agricultural properties earned an average of $105K. Residential appraisers earned the least, with the average home appraiser salary being just under $97K.
Sharpen your skills
On top of that, our survey data suggests that you can become a top earner in appraisal by improving your business skills and excelling in these three key areas:
- Managing business expenses
- Keeping up-to-date on industry and market trends
- Time management
So, what’s the average real estate appraiser salary? Appraisers earn $102,620 a year, on average. However, annual earnings vary according to license level, years of experience, number of hours worked, and several other factors.
Want to dig deeper? Discover even more factors affecting real estate appraiser salary in the 2022-2023 Appraisal Salary Guide.
