Real estate appraisers have many possible working arrangements, license types and potential employers. As a result, it can be challenging to determine how much an average appraiser makes. Even so, according to the Bureau of Labor Statistics, employment in this field is expected to grow by 7% over the next decade.
Real estate appraisers’ salaries vary greatly by the nature of their duties. Appraisers can have part-time or full-time hours, work independently, with other appraisers or for a firm. Some government lending agencies hire appraisers as do private lending institutions. While all of these can affect an appraiser’s earnings, perhaps the most significant factor is the type of license an appraiser possesses.
According to Indeed.com, the average salary for a real estate appraiser is $57,606 per year. The range of reported salaries is from $14,000 per year to $142,000 per year. The lower end of the scale is most likely part-time or beginning trainee appraisers. This information is based upon over 400 salaries Indeed collected from employees, companies and recent job postings.
The Appraisal Foundation has a fast fact PDF with some statistics: You can access it HERE. According to TAF average salaries for appraiser vary based on a number of factors, including geography and experience and can range from $28,440 to $101,710.
Beginning appraisers are called appraiser trainees. They usually work part-time and are paid per appraisal. Appraiser trainees often make between $50 and $150 per appraisal, earning more with increasing experience and expertise.
After 1000 hours of work as a trainee, appraisers have the option to take the real estate appraiser licensing exam. Once an appraiser reaches this level of license, average salaries range between $35,000 and $80,000 depending on the employer. With experience, licensed appraisers may move into management positions which pay more.
The next level of real estate appraiser licensing is the certified residential appraiser. On average, they earn approximately $10,000 more per year than licensed appraisers.
The highest level of appraisers, certified general appraisers, earn about $15,000 more per year than certified residential appraisers.
McKissock has created an Income Guide with Insights for Appraisers. You can download that ebook HERE.
