What is the primary role of a "real estate appraiser"?

The primary role of a real estate appraiser is to assess property value for various purposes. This involves conducting a detailed analysis of a property’s characteristics, its location, the market trends, and comparable properties that have recently sold in the area. Appraisers utilize established methods and techniques, such as the sales comparison approach, cost approach, and income approach, to determine an objective value for the property.

This valuation is essential in different contexts, including mortgage lending, property tax assessments, divorce settlements, and estate planning. By providing an impartial evaluation of a property’s worth, appraisers help buyers, sellers, and financial institutions make informed decisions based on accurate property valuations. Their expertise is crucial in ensuring that transactions reflect fair market value, thereby promoting trust and transparency in real estate dealings.