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Real Estate Appraiser

Real estate appraisers estimate the value of vacant and improved residential, commercial, industrial, agricultural and other real estate properties.

  • Avg. Salary $76,660.00
  • Avg. Wage $40.72
  • Minimum Education 4 years post-secondary
  • Outlook N/A
Also Known As

Property Appraiser, Real Property Appraiser, Residential Appraiser, Appraiser

NOC & Interest Codes
The Real Estate Appraiser is part of the following larger National Occupational Classification (NOC).
Appraisers
NOC code: 1235.3
METHODICAL

Interest in analyzing information for appraisal purposes when searching public records of sales, leases, assessments and other transactions

directive

Interest in submitting reports to corroborate appraised value of properties and in determining future values based on study of location, trends, impending changes and other potential influences

social

Interest in speaking with people to collect data and information used when appraising value of properties

Reading Interest Codes
A Quick Guide

The interest code helps you figure out if you’d like to work in a particular occupation. It’s based on the Canadian Work Preference Inventory (CWPI), which measures 5 occupational interests: Directive, Innovative, Methodical, Objective and Social.

Each set of 3 interest codes is listed in order of importance.

A code in capital letters means it’s a strong fit for the occupation.

A code in all lowercase letters means the fit is weaker.

Learn More

Duties
Updated Mar 09, 2016

A real estate appraisal may be required when a property is bought, sold, financed, insured, damaged, expropriated, divided by court settlement or assessed for taxation.

Real estate appraisers thoroughly investigate and inspect a property before preparing an appraisal report. Conducting an appraisal may involve:

  • reading blueprints, mechanical drawings and real estate data
  • researching public records, technical documents and court documents
  • checking legal descriptions of properties, land use bylaws and building codes 
  • reviewing the types and location of area services such as roads, public transportation, shopping, schools, parks, municipal infrastructure (for example, gas lines, sewer) and other features of the neighbourhood
  • recognizing the age, quality and type of construction materials and workmanship
  • estimating property value through sales comparisons, replacement cost and income potential
  • researching public records and court documents
  • considering general value of area real estate, property taxes and special assessments
  • considering current market trends in the various real estate sectors.

Real estate appraisers may specialize in the valuation of residential, commercial or industrial properties, as well as raw land. They also may be called upon as expert witnesses in real property related court proceedings, or may work as consultants.

Working Conditions
Updated Mar 09, 2016

Appraisal work generally is done during weekday office hours but evening and weekend work often is required. Self-employed appraisers set their own hours.

Some property appraisals involve a certain amount of physical activity in the inspection phase (for example, inspecting foundations). Travel may be required to view rural property, industrial sites or timberland.

  • Strength Required Lift up to 5 kg
Skills & Abilities
Updated Mar 09, 2016

Appraisers need the following characteristics:

  • good communication skills in person and in writing
  • patience and flexibility to work with a variety of people
  • the ability to methodically gather and analyze data to arrive at a valuation
  • the ability to research and organize relevant property documentation
  • strong spatial and mathematical perception to judge property size and layout
  • confidence in their judgments and decisions
  • honesty and integrity
  • the ability to work some irregular hours, under pressure and within tight timelines.

They should enjoy analyzing information and taking a methodical approach to their work, making decisions and dealing with people.

Educational Requirements
Updated Mar 09, 2016

In Alberta, real estate appraisers performing fee appraisals must be licensed in addition to other training and designations they may have. Licensing of real estate appraisers is the responsibility of the Real Estate Council of Alberta (RECA) and requires membership in one of the following professional associations: the Alberta Association of the Appraisal Institute of Canada, the Canadian National Association of Real Estate Appraisers or the Alberta Assessors Association. Each association sets its own education and training requirements for membership.

The Appraisal Institute of Canada (AIC) offers two professional designations for real estate appraisers: Canadian Residential Appraiser (CRA) and Accredited Appraiser Canadian Institute (AACI).

  • CRAs are qualified to appraise individual undeveloped residential dwelling sites and dwellings containing not more than four self-contained family housing units.
  • AACIs are fully accredited to appraise a wide range of real property.

To qualify for either designation, prospective appraisers must:

  • meet current admission requirements (which include pre-requisites that are subject to change)
  • successfully complete AIC's education program and one or more demonstration appraisal reports
  • locate a suitable mentor and enrol in the Applied Experience Program for the required length of time (one year for the CRA designation; two years for the AACI desgination)
  • successfully complete final written and oral examinations.

Current applicants for candidate membership in the Appraisal Institute of Canada (AIC) must have a degree from an accredited university. A degree in business administration offers the shortest route to designation since many required courses will have already been completed, however, non-business degrees also are acceptable.

The Canadian National Association of Real Estate Appraisers (CNAREA) offers seven categories of membership including Designated Appraiser Residential (DAR), Designated Appraiser Commercial (DAC) and DAC (with specialty in agricultural):

  • DARs are qualified to perform appraisal and consultation assignments of residential type properties of no more than four housing units.
  • DACs are qualified to perform appraisal and consultation assignments of all types of real property including commercial, industrial and investment.
  • DACs (with specialty in agricultural) are qualified to perform appraisal and consultation assignments of all types of real property.

DAR requirements include 3,000 hours of full time appraisal experience and successful completion of CNAREA's required educational program, or equivalent. DAC requirements include a DAR designation or equivalent, five years of full time appraisal experience and successful completion of a required education program, or equivalent. DAC (with specialty in agricultural) requires a DAC designation and completion of a required education program, or equivalent. Each designation further requires submission and approval of appropriate appraisal reports, and a post-secondary degree or equivalent.

Post-secondary institutions throughout Alberta offer degree programs. Prior to enrolling in an education program, prospective real estate appraisers should contact associations and employers in this field to investigate education options and employment possibilities. Specific courses are required for accreditation. 

The University of British Columbia offers the Appraisal Institute of Canada's education program via distance education. Applicants who have completed previous coursework must provide transcripts to the University of British Columbia for admission, or to have previous coursework evaluated for credit toward the CRA or AACI education programs.

For a broad list of programs and courses that may be related to this occupation try searching using keywords.

Certification Requirements
Updated Mar 09, 2016

Real Estate Appraiser

Real estate appraisers estimate the value of vacant and improved residential, commercial, industrial, agricultural and other real estate properties.

Legislation

Real Estate Appraiser is a protected title under Alberta's Real Estate Act (PDF) and associated regulations. This means that to call yourself a Real Estate Appraiser, you must be licensed by the Real Estate Council of Alberta (RECA).

What You Need

Licensing requires membership in 1 of the following associations:

Each association sets its own education and training standards.

In addition, licensed Real Estate Appraisers must:

  • be at least 18 years of age
  • be proficient in English
  • have a Canadian high school diploma or equivalent
  • be a Canadian citizen or have a Permanent Resident card or work permit with no study restrictions
  • submit a certified criminal record check.

For more detailed official information about licensing requirements, contact the regulatory authority below.

Working in Alberta

Real estate appraisers who are licensed by and in good standing with a regulatory organization elsewhere in Canada may be eligible for licensing in Alberta if licensed real estate appraisers in the 2 jurisdictions have similar responsibilities and competencies. For more information, see What if I am already certified in another province or territory? and the Alberta regulatory authority below.

Contact Details

Real Estate Council of Alberta (RECA)
350, 4954 Richard Rd SW
Calgary, Alberta T3E 6L1
Phone: 403-228-2954
Toll-free: 1-888-425-2754
Fax: 403-228-3065
Email: info@reca.ca
Website: www.reca.ca

Employment & Advancement
Updated Mar 09, 2016

Real estate appraisers are employed by:

  • private appraisal companies
  • mortgage investment firms
  • banks and other lending institutions
  • real estate and insurance companies
  • government agencies
  • municipal assessment offices
  • development companies.

Real estate appraisers often begin as trainees with private appraisal firms, lending institutions or government agencies. Many real estate appraisers work in private practice either alone or with other appraisers.

Experienced appraisers may advance to supervisory and management positions, or start their own businesses. Or they may move into mortgage lending, corporate real estate, property assessment or real estate investment analysis.

Real estate appraisers are part of the larger 2011 National Occupational Classification 1314: Assessors, Valuators and Appraisers. In Alberta, 76% of people employed in this classification work in the following industries:

The employment outlook in this occupation will be influenced by a wide variety of factors including:

  • trends and events affecting overall employment (especially in the industries listed above)
  • location in Alberta
  • employment turnover (work opportunities generated by people leaving existing positions)
  • occupational growth (work opportunities resulting from the creation of new positions that never existed before)
  • size of the occupation.

Employment turnover is expected to increase as members of the baby boom generation retire over the next few years.

Wage & Salary
Updated Mar 09, 2016

Appraisers' earnings vary considerably depending on their experience and qualifications. Self-employed appraisers charge a fee for each appraisal based on the time it takes to do the appraisal, the distance travelled and the type of report required.

Real estate appraisers are part of the larger 2011 National Occupational Classification 1314: Assessors, valuators and appraisers. 

According to the 2015 Alberta Wage and Salary Survey, Albertans in the Assessors, valuators and appraisers occupational group earned on average from $31.48 to $46.36 an hour. The overall average wage was $40.72 an hour. For more information, see the Assessors, valuators and appraisers wage profile.

Related High School Subjects
  • Business, Administration, Finance and IT
    • Financial Management
    • Information Processing
    • Management and Marketing
Related Post-Secondary Field of Study
  • Business, Management and Administrative Studies
Other Sources of Information
Updated Mar 09, 2016

Alberta Assessors' Association website: www.assessor.ab.ca

Alberta Association of the Appraisal Institute of Canada website: www.appraisal.ab.ca

Appraisal Institute of Canada website: aicanada.ca

Canadian National Association of Real Estate Appraisers (CNAREA) website: www.cnarea.ca

Real Estate Council of Alberta (RECA) website: www.reca.ca

For more information on career planning, education and jobs, visit the Alberta Learning Information Service (ALIS) website, call the Alberta Career Information Hotline toll-free at 1-800-661-3753 or 780-422-4266 in Edmonton, or visit an Alberta Works Centre near you.

Updated Feb 01, 2012. The information contained in this profile is current as of the dates shown. Salary, employment outlook and educational program information may change without notice. It is advised that you confirm this information before making any career decisions.

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