What’s the Average Real Estate Appraiser Salary?
Excerpts: On average, appraisers earn $102,620 a year. However… the average appraiser salary varies significantly across license levels.
Trainee appraisers earn an average annual income of about $53K. Licensed appraisers earn approximately $89K per year. Certified residential appraisers earn more than $101K annually. And certified general appraisers earn the most, making approximately $145K per year.
Like with many professions, the more time you put in, the more your hard work pays off. Average earnings tend to increase the longer an appraiser is in the profession, with the greatest jump being from 0-2 years of experience to 2-5 years of experience. Appraisers who have put in 16+ years in the appraisal industry tend to make the most ($118K), while those who have less than 2 years of experience earn the least ($43K).
To read more and see the charts, click here
My comments: Mckissock results are from their own survey of appraisers. I have seen this type information before, but mostly from contacting companies, recruiters or government databases. Most res appraisers are fee appraisers, but this lets you know the relative income levels based on various factors.
If you’re thinking about upgrading your license, this illustrates the income levels. For example, I do both commercial and residential appraisals, a significant positive factor in my income. When one is slow, I do more work in the other. Of course, if you are only licensed you should upgrade ASAP.
Relatively few residential appraisers have salaried jobs, but they are available at lenders, AMCs, assessors, etc.
My first appraisal job at a county assessor’s office in 1975 paid $900 per month. I would have never become an appraiser without a salaried job. Also, due to “affirmative action” at that time, women were hired for the first time as appraisers at assessor’s offices and lenders. An appraiser I know was hired by FHA as an appraiser trainee. She was previously a secretary. There were few women at my appraisal classes.
Until the early 1990s, when lenders outsourced appraisals to fee appraisers, most res appraisers had staff lender jobs.
Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!
NOTE: Please scroll down to read the other topics in this long blog post on non lender appraisals, MLS hacked, appraisers and real estate agents, Humor, unusual homes, mortgage origination