Real estate appraisers are dedicated to estimate the value of all types of properties based on their condition, location, orientation, surface area, etc. All these characteristics will determine whether the value is higher or lower.
To value the price of a property, whatever type it is, the work of a real estate appraiser is needed. This professional performs a complete analysis of the property to establish a value according to its characteristics.
The work as a real estate appraiser is technical, meticulous and, in most cases, it is necessary for the professional to travel frequently. It is a very necessary job, since everything that you want to put on sale has to be valued first, either by order of the real estate agency, of a financial entity, or even by an individual who wants to know the value of his house.
Register of appraisers
Two of our MRICS, Fernando Vives and Pablo Ferreras, share their experience in becoming a member of the most reputable organization in the real estate and construction industry, RICS.
To become a member of the international organization of reference in the real estate and construction sector, RICS, the road to travel “is not very long, but laborious”. In this post we will detail the steps to take to achieve this distinguished accreditation, synonymous with good practices, integrity, trust and honesty.
For this international institution, ethical behavior is the essence that differentiates some professionals from others. Candidates are required to follow five rules of conduct, not only at work, but also on a personal level. RICS also demands and ensures that its members bring ethics into all spheres of life. The five mandatory principles are:
In short, to defend and protect the interests of others above one’s own, to promote professional ethics, to be constantly learning and to promote knowledge and confidence in the profession.
How to become a jewelry appraiser
of a property such as the condition of the foundation, the condition of the roofs or any renovations that may have been made. In addition, they may take photographs of the interior of a building for the purpose of documenting the condition of a particular room or feature, as well as the exteriors of the building.
building. After visiting the property, the appraiser or appraiser will determine a reasonable value for the property, taking into account such things as the sale of similar homes, rental records, location, previous appraisals and potential income. They then assemble a detailed report of all their research and observations, indicating not only the value of the parcel , but also the reasoning and methodology they used to arrive at the estimate.
Appraisers have independent clients and focus on the valuation of one property at a time. They primarily work in a client-to-client relationship and perform appraisals for a variety of reasons. Real estate appraisers generally specialize by the type of properties they appraise, such as residential properties, golf courses, or shopping centers. In general, commercial appraisers have the ability to appraise any property but generally only appraise properties used for commercial purposes, such as
Requirements to be an appraiser
The Municipal Government and Valuation Act was enacted in 1997 for application in England, Scotland and Wales (later, in 1998, an amendment was introduced for Northern Ireland) so that all Crown property would be on an equal footing with all other rateable property and could be liable to be valued for the purpose of determining its rates. These provisions came into effect on April 1, 2000. As a result, landmark buildings such as the Palace of Westminster and the Tower of London are now for the first time valued in the same way as all other properties.
Valuers from the Valuation Office Agency (VOA), part of Her Majesty’s Revenue and Customs (HMRC), are responsible for compiling and maintaining the commercial (non-residential) property valuation lists for England and Wales. In Scotland, the municipal valuers are responsible, and in Northern Ireland, the responsibility lies with the Land and Property Service. In general, the rateable value of a non-residential property is based on the annual rent for which it could have been let on the open market at a standard date (the preceding valuation date). In the case of England and Wales, the preceding date for the 2000 listings was April 1, 1998; for the 2005 listings, April 1, 2003; and for the 2010 listings, which became effective April 1, 2010, the preceding date was April 1, 2008.