Real estate appraisers?

Question

How much does a real estate appraiser make in NJ? What is the average starting salary?

Answer 1

Salaries for real estate appraisers vary greatly depending on a number of factors, including:

- The market the appraiser works in.

- The type of work being performed. Appraisers are not limited to doing appraisals, but also can do consultations and reviews of other appraisers' work.

- The amount of experience the appraiser has (with more experience, an appraiser can do their work more quickly and will be able to work on more complex assignments)

- The type of appraisal license - does the appraiser have a license that allows them to appraise residential or a commercial properties? Commerical appraisers tend to make more than residential appraisers because the work is more compex and commerical appraisal require more depth of analysis.

- Place of employement - Are you working solo or with an appraisal office. Solo appraisers will gain 100% of the fee. Salary structures within appraisal offices will vary from one appraisal office to another.

Salary.com is a good resource to get a general idea of the pay levels for various regions and license levels.

P.S. The previous answer is a little off on appraisal fees. Fees for appraisals depends on the complexity of the assignment and the appraiser and lender agree to during the bid process. I think residential appraisals can range anywhere between $300-$500. Commerical appraisals are much more...typically between $2,000-$5,000 for your typical run-of-the mill income producing property. Fees for much more complex properties will be much more expensive (I've seen some fees as high as $10,000+); however, this is the exception rather than the rule and requires an appraiser with many years of experience.

Answer 2

There is no salary when you are an appraiser. You get paid for the work you do. A residential appraisal can cost anywhere between $300 to $700 depending on the type of property and the value.