Why this matters:
Real estate appraisers examine properties with diverse appearances, assets, and uses before calculating their approximate worth. This skill requires a deep understanding of what makes properties valuable to potential buyers and a ready checklist of evaluation criteria, allowing candidates to quickly identify points of distinction within properties.
What to listen for:
- Variables such as location, likely upkeep needs, and intended use
- References to the property’s past, present, and future value
- Consideration of comparable home sales in the area and neighborhood potential
Why this matters:
As appraisers go about touring, researching, and analyzing properties, technology can standardize and accelerate the process, leading to more objective, accurate appraisals. Candidates who take full advantage of current technologies will be able to work more efficiently and keep up with future technological changes in the field.
What to listen for:
- References to invoicing technology, virtual property tours, and digital lease agreements
- Tools for determining build quality, such as laser measuring devices
- Use of real estate appraisal software such as Valcre to standardize the appraisal process
Why this matters:
Properties come in a wide range of conditions, sizes, and uses — and these factors play a critical role in real estate values. Candidates must be able to shift their appraisal methods to accommodate the differences between properties. This question will showcase candidates who can handle both rental property and primary residence appraisals and establish themselves as holistic experts.
What to listen for:
- Consideration of the rental property’s different units with ranging values
- Ability to explain niche industry concepts with approachable, clear language
- Use of the income capitalization method for appraising multi-unit buildings
Why this matters:
Real estate appraisals have a tremendous impact — influencing sales prices, home equity loans, and more. If a client has a specific appraisal number in mind or is counting on a high purchase price, they may be upset with an appraisal lower than expected. In this scenario, the appraiser must have the composure and confidence to stand by their appraisal as well as the empathy to help the client understand their conclusion.
What to listen for:
- Compassion for the client’s position and recommendations on how they can improve the home’s value
- Experience shedding light on unanticipated appraisals by explaining their reasoning and data
- Ability to support an appraisal amid criticism or skepticism
Why this matters:
Flexibility in the face of complexity is a key appraiser attribute. The best candidates will possess the knowledge to adapt their methods to different situations they find themselves in. Not every appraisal method is appropriate for each job, so it’s important that the candidate can differentiate between the merits and challenges of each.
What to listen for:
- Explanations of appraisal strategies such as the sales comparison or cost methods
- Mentions of the trade-off and ultimate benefit of the selected method for the specific property
- Ability to see a difficult task through to completion
Why this matters:
Before hiring a real estate appraiser, employers should have a good idea of the candidate’s go-to evaluation process to identify any knowledge gaps or faulty calculations. This question will reveal the candidate’s common work habits, as well as their potential for growth. Candidates who continually see chances to improve their performance will be quick to identify and correct any mistakes and distinguish themselves.
What to listen for:
- Methodical process of aggregating, evaluating, and reporting on real estate data
- Drive to showcase their work ethic
- Demonstrated growth mindset and eye for continuous improvement
Why this matters:
From client questions to human errors, there are many reasons real estate appraisers must thoroughly document their process. These records should include the method of appraisal, property characteristics, and market comparisons used in analysis. Organizational technology such as cloud storage can help streamline appraisal document retrieval so appraisers can easily answer any customer inquiries.
What to listen for:
- Document and photo management software such as Google Drive or Microsoft Office
- Mentions of preparing reports about assessment results and calculations
- Daily processes for maintaining organized, meticulous records of past and current projects
Why this matters:
The real estate industry is constantly evolving. The best appraisers will have a genuine interest in market developments and use the ebb and flow of supply to make their estimates more accurate. Candidates should understand the importance of new developments — whether new regulations, standards, or best practices — and use them to predict future real estate value.
What to listen for:
- Specific trade publications or news sources for following industry developments
- Understanding and awareness of supply-and-demand movements in the real estate market
- Interest in improving appraisal practices to meet new industry regulations
Why this matters:
Though an appraiser’s first commitment is to the quality of their work, client satisfaction is another essential focus area, often generating praise and new or repeat business. Clients expect high-quality appraisals and appraisers. This requires demonstrating professionalism, courtesy, expertise, and objectivity from the beginning to the end of the customer experience.
What to listen for:
- Willingness to go the extra mile for clients, whether residential buyers or commercial investors
- Understanding of the importance of a clean, professional appearance in client interviews
- Emphasis on open communication throughout the real estate lifecycle
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