How to Be Historic Real Estate Appraiser - Job Description, Skills, and Interview Questions

Dec 13, 2022 / 6 Minutes Read / By Albert

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The demand for historic real estate appraisers has increased in recent years, as more people are looking to buy and maintain properties of historical significance. This is due to the increasing value of these properties, as well as the unique experience of living within a piece of history. As a result, the expertise of a historic real estate appraiser is now more sought after than ever before.

They are able to evaluate the condition of these properties and provide accurate estimates of their worth. they can provide insight into local zoning regulations, historical associations, and other pertinent information that may be necessary in order to purchase and maintain a property of historical significance. This expertise is essential for anyone looking to invest in a piece of history.

Steps How to Become

Obtain a Bachelor's Degree. To become a Historic Real Estate Appraiser, you must first obtain a bachelor's degree in real estate appraisal, business administration, or a related field. You may also need to complete courses on the history of real estate, economics, and finance.
Obtain Professional Certification. After receiving your bachelor's degree, you must obtain professional certification through a nationally recognized organization such as the Appraisal Institute or the American Society of Appraisers.
Get Licensed. To work as a Historic Real Estate Appraiser, you must obtain a license from the state in which you plan to practice. Check with your state's real estate commission for the exact requirements.
Complete Continuing Education Credits. In order to maintain your license, you must complete continuing education credits each year. Check with your state's real estate commission for the exact number of credits required.
Develop Expertise in Historic Real Estate Appraisal. You must develop expertise in the appraisal of historic real estate by completing specialized courses and attending seminars and workshops related to historic real estate appraisal.
Join Professional Organizations. Joining professional organizations such as the National Association of Realtors or the International Society of Appraisers can help you stay up-to-date on developments in the field and network with other professionals.

The success of any real estate appraiser relies heavily on their qualifications and reliability. In order to ensure a successful appraisal, it is important to find a qualified and reliable appraiser. Qualifications can include certifications, experience, education, and training.

A qualified appraiser should have the knowledge and skills necessary to accurately value the property in question. Reliability is also essential, as it demonstrates that the appraiser is capable of completing their work in a timely manner and providing accurate results. To ensure a reliable appraiser, it is important to check references and reviews from past clients.

a reputable appraiser should be a member of a professional organization and adhere to their ethical standards. By taking the necessary steps to ensure a reliable and qualified appraiser, you can confidently trust your appraisal results.

You may want to check Librarian, Museum Educator, and Cultural Resource Administrator for alternative.

Job Description

Research and analyze historic real estate market trends and make appraisals of real estate properties
Collect and evaluate data from reliable sources such as the US Census, local real estate listing services, and public records
Utilize modern appraisal technology to accurately assess properties
Prepare detailed reports on the estimated value of each property
Assist clients with financial decisions related to their real estate investments
Develop and maintain relationships with clients
Attend continuing education courses to stay up-to-date with current appraisal trends
Ensure compliance with all Federal and State regulations governing real estate appraisals

Skills and Competencies to Have

Knowledge of real estate appraisal principles and practices.
Knowledge of legal and regulatory requirements governing real estate appraisals.
Knowledge of accepted appraisal valuation methods and techniques.
Knowledge of market trends, local economic conditions, and factors affecting real estate values.
Ability to analyze property characteristics and develop accurate value estimates.
Ability to read and interpret legal documents, contracts, and title reports.
Ability to effectively communicate findings to clients and colleagues.
Advanced research and analytical skills.
Ability to maintain accurate and detailed records.
Computer proficiency in relevant software applications and programs.

Being a successful historic real estate appraiser requires a unique set of skills. As the value of a property is determined based on its historical context, a historic real estate appraiser must have a deep understanding of the local market trends, population dynamics, and neighborhood characteristics. Furthermore, an appraiser must have an excellent eye for detail, as well as strong research and analytical skills to assess the value of a property.

an in-depth knowledge of building materials, construction techniques, and design elements is also essential. Finally, the ability to communicate effectively with clients and other professionals is key, as it helps ensure accuracy in the appraisal process. By having these core skills, a historic real estate appraiser can make accurate and reliable appraisals that help buyers, sellers, and investors make informed decisions.

History Conservator, Historical Preservation Consultant, and Historical Re-enactor are related jobs you may like.

Frequent Interview Questions

What experience do you have appraising historic real estate?
How do you stay up-to-date on the latest trends in historic real estate appraisal?
What methods do you use to research the market value of a historic property?
What challenges have you faced when appraising historic properties?
How do you evaluate the condition of a historic property?
Are you comfortable working with local zoning and building regulations related to historic real estate?
How do you ensure the accuracy of your appraisals?
How do you handle difficult clients or situations?
What steps do you take to ensure compliance with all applicable laws and regulations?
What other skills or qualifications do you have that would be beneficial when appraising historic properties?

Common Tools in Industry

Comparative Market Analysis (CMA) Tool. Used to compare a property's current market value to recently sold properties in the same area, as well as to forecast future market conditions. (e. g. Reali CMA Tool)
Geographic Information Systems (GIS). A mapping system used to analyze and visualize spatial data, such as the location of a property, in order to determine its potential market value. (e. g. ESRI ArcGIS)
Appraisal Software. Software that is used to collect and organize data from various sources, such as public records and surveys, to help appraisers in their analysis and valuation of a property. (e. g. AppraisalPort)
Cost Approach Tool. A tool used to calculate the value of a property by estimating the cost of replacing all of the property's improvements and amenities, such as buildings and landscaping, with new materials of similar quality and design. (e. g. EPA Cost Approach Tool)
Sales Comparison Tool. A tool used to compare the sales price of a property to similar properties sold in the same area in order to determine its market value. (e. g. Zillow Comparables Tool)

Professional Organizations to Know

Appraisal Institute
American Society of Appraisers
Royal Institution of Chartered Surveyors
National Association of Realtors
International Association of Assessing Officers
National Association of Home Inspectors
American Society of Real Estate Appraisers
The Appraisal Foundation
The Society of Real Estate Appraisers
The International Valuation Standards Council

We also have Historic Preservation Planner, Historiographer, and Public Historian jobs reports.

Common Important Terms

Appraisal. A professional opinion of the value of a property, usually based on market conditions, building characteristics, and comparable sales prices.
Market Value. The amount a buyer is willing to pay for a property, taking into consideration the local market conditions and any changes in the economy.
Comparable Sales. Properties that have recently sold in the same area as the property being appraised, which are used as a basis to determine the value of the subject property.
Highest and Best Use. The most profitable use of a property based on its current zoning regulations, environmental factors, and market conditions.
Feasibility Study. An analysis that takes into account financial projections, zoning regulations, and other factors to determine if a particular project is viable.
Cost Approach. An appraisal method that values a property by estimating the cost of replacing it with a similar structure, minus any depreciation.
Income Approach. An appraisal method that values a property by estimating the income it will generate over a period of time.
Market Analysis. A comparison of properties in a given area, taking into account market conditions, recent sales prices, and other factors.

Frequently Asked Questions

What is a Historic Real Estate Appraiser?

A Historic Real Estate Appraiser is a professional who evaluates the estimated market value of historic properties.

What qualifications are needed to become a Historic Real Estate Appraiser?

To become a Historic Real Estate Appraiser, one must obtain a license from the Department of Real Estate and complete at least 150 hours of training, including courses in historic preservation, economics, law, and appraisal methods.

How does a Historic Real Estate Appraiser determine the value of a property?

A Historic Real Estate Appraiser considers numerous factors when determining the value of a property, such as the condition of the building, its historical significance, local zoning laws, and economic trends.

What documents must a Historic Real Estate Appraiser provide?

A Historic Real Estate Appraiser must provide an appraisal report stating the estimated market value of the property, along with supporting documents such as inspection reports, photographs, and legal documents.

What is the difference between Historic Real Estate Appraisers and regular real estate appraisers?

The main difference between Historic Real Estate Appraisers and regular real estate appraisers is that Historic Real Estate Appraisers specialize in evaluating the estimated market value of historic properties, while regular real estate appraisers evaluate all types of properties.