Specializing in a particular property type is a great way to gain success as an appraiser. It also gives you the opportunity to do more work in an area that interests you. We recently asked our appraisal community, “What kind of property would you MOST want to appraise (assuming you were fully qualified)?” Here’s a breakdown of what types of property your fellow appraisers said they would choose over the rest.
What kind of property would you MOST want to appraise?
1. Luxury homes (32%)
“I love walking through luxury homes and seeing all the amazing features. It is always a challenge to measure and record all the amenities. A luxury dwelling always takes time, but definitely worth it!”
“I think being knowledgeable and trained to appraise luxury properties would be helpful to clients and easier to price homes accordingly.”
“I would like the opportunity to appraise the home of a celebrity.”
Interested in luxury appraisals? Learn about the new Certified Luxury Home Appraiser Program, coming in 2019.
2. Other (26%)
Many respondents had their own ideas about what types of property they’d want to appraise if given a choice. “Other” responses included: farms, golf courses, Willis Tower (formerly known as the Sears Tower), Native American land, residential properties, oddball properties, historic properties, and various commercial properties—including churches and apartment complexes.
3. High-performance “green” homes (22%)
“In CA, green homes and energy efficiency are hot topics. Being ‘green home’ certified would help me stand out.”
“Determining value of ‘green features’ will be quite valuable, especially as these features become more prevalent.”
“Green technology is improving at a rapid pace and may one day play a key part in marketability for younger generations. It would be interesting to see the applications of such technology and its potential for sustainability.”
“I would love to have the knowledge and experience necessary to develop an appraisal for a ‘green home,’ as they are becoming very popular/common in our market. The problem is finding enough information regarding the green features, and then finding comparables that have been sufficiently described in the MLS as being green. Currently, the lack of knowledge and description by the agents associated with the sale make it extremely difficult to justify adjustments for the features even though it is obvious that the owners are paying top dollar for the features!”
“Green homes have to be technologically advanced but also easy to maintain. These two objectives are often contradictory, thus a need to balance between sustainability versus practicability, and control versus user friendly.”
4. Hotels and vacation resorts (10%)
“Often there is maybe just one thing that makes a hotel or resort unique from any other, and I would enjoy finding that one thing that makes them stand out and gives them a plus value over another similar resort. Plus, I would get to visit each one to compare…what fun!”
“What better way to make a living! Working and vacationing at the same time!”
5. Sports arenas (5%)
“I love sports, all kinds of sports! What a great way to travel, meet a different array of people and, who knows, maybe find that retirement spot you’ve been dreaming about!”
In a previous survey, we asked appraisers which specific sports facility they’d want to appraise. View the responses here.
6. Theme parks (5%)
Theme parks could present a fun and exciting challenge for an appraiser. And, on a nostalgic note, these assignments could provide a fun way to connect with your inner child.
When you upgrade your license to become a certified general appraiser (a.k.a. commercial appraiser), you can appraise all types of property, including theme parks, sports arenas, hotels, apartment complexes, retail spaces, industrial facilities, single-family homes, and more. Survey data shows that certified general appraisers enjoy higher fees, higher annual income, greater career satisfaction, and more complex assignments.
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