subscribe: Posts | Comments

Role and responsibilities of a commercial property appraiser

Comments Off on Role and responsibilities of a commercial property appraiser

real estate appraiserThe small business owner is always in a dilemma before renting or buying a commercial space for is venture. Before making a deal it is highly important for the person to know the real worth of the commercial space and its future value. Not everyone is capable of doing the assessment by them and in such cases the person looks for a best commercial real estate appraiser around. Commercial property appraisals are different from the residential property appraisal because the earlier one is more subjective in nature.

Commercial real estate appraisers work mainly for real estate companies. Their service is also required by the banks and mortgage companies for the evaluation of properties and verification of the legal things related to them. Also there are freelancing and independent commercial real estate assessors who take up jobs from banks and real estate farms along with contract from individual clients.

Duties and responsibilities: The commercial appraisers has the following, but not limited to duties to dispense during their job. They have to verify the legal descriptions of properties in public records and inspect the properties to verify them physically. If required they need to evaluate the nearby or adjoining properties to compare the values to establish a pattern or to prepare a more realistic appraisal report. They also needed to collect and record all current data of properties which may come useful in future.

Skills required: Anyone can be a commercial real estate appraiser but he needs to have certain skills in order to deliver what the employer desire. One needs to be good at understanding the appraisal methodology and must possess good analytical skills. Sound maths and business skills are prime requirement for the job. Other qualities like precise attention to details, problem solving skills, time management and customer satisfaction must be at their priority in order to excel in the job.

Their appraisals matters a lot in many commercial decision taken by the bank and the mortgage company, so it is highly expected of them to deliver their duties with utmost and honesty and integrity.

Recent Posts