Real Estate Appraisal

Definition of Real Estate Appraisal as it relates to Real Estate, Real Estate Brokerage, Real Estate Agent Licenses

"Real Estate Appraisal" refers to the professional assessment of the value of a property. This involves analyzing various factors such as the location, size, condition, and features of the property, as well as market trends and comparable sales. The appraiser's role is to provide an impartial and unbiased estimate of the property's value, which can be used for a variety of purposes including real estate transactions, financing, insurance, and taxation. In the hierarchy of "Real Estate/Real Estate Brokerage/Real Estate Agent Licenses", Real Estate Appraisal falls under the category of Real Estate Agent Licenses, as appraisers are required to hold a valid license in order to practice. However, it is important to note that while real estate agents and brokers facilitate the buying and selling of properties, appraisers focus solely on determining their value.

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