What is the primary role of an appraiser?

The primary role of an appraiser is to estimate the value of real property. Appraisers are licensed professionals who analyze various factors including property characteristics, market trends, and comparable property sales to determine the fair market value of a property. This valuation process is crucial in various scenarios such as property sales, mortgage lending, taxation, and investment analysis.

Estimating value involves using recognized methods such as the cost approach, sales comparison approach, and income approach, depending on the type of property and the context of the appraisal. While assessing property conditions and collecting market data can be components of the appraisal process, they serve as supporting information in the broader goal of determining value. Setting listing prices is typically more aligned with the work of a real estate agent, who takes into account appraisals among other factors to establish an appropriate listing strategy.