Skills & Competencies for Appraiser (Residential Real Estate)

Appraiser (Residential Real Estate) job profile

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JOB SUMMARY for Appraiser (Residential Real Estate)

Conducts residential real estate appraisals to establish the market value generally used for lending, insurance, or other purposes.

JOB RESPONSIBILITIES for Appraiser (Residential Real Estate)

Follows standard processes for conducting on-site property inspections, data collection, and research relevant market conditions required to perform valuations. Investigates the quality of the construction, the overall condition of the property, and the surrounding location. Uses generally accepted appraisal practice concepts and practices to perform data analysis, develop valuation estimates, and write comprehensive reports and exhibits. Utilizes appraisal software tools and databases. Ensures that reports comply with required policies, formats, and regulations.

Appraiser (Residential Real Estate) SALARY RANGE

BASE 50%
$59,561
TOTAL 50%
$61,019
Job Level
P02
Job Code
FA06000589
Education/Degree
Bachelor's Degree
Reports To
Manager

Appraiser (Residential Real Estate) Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Appraiser (Residential Real Estate) skill and competencie below to view definitions.
JOB FAMILY COMPETENCIES CORE COMPETENCIES
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6 general skills or competencies (Job family competencies) for Appraiser (Residential Real Estate)

1 Job Family Competencies – Records Management
Proficiency Level -2
Skill definition-Managing and preserving records to help an organization keep the documentation accessible for both business operations and compliance audits.
Level 1 Behaviors
(General Familiarity)
Describes the functionality of record requests and escalations via management tools.
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Level 2 Behaviors
(Light Experience)
Compiles routine management reports and records to secure appropriate repositories.
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Level 3 Behaviors
(Moderate Experience)
Implements complete and accurate property records to simplify all activities and processes.
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Level 4 Behaviors
(Extensive Experience)
Directs preparation of records to achieve proper documentation of policies and transactions.
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Level 5 Behaviors
(Mastery)
Builds administrative plans and strategies to maintain consistency in record management.
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2 Job Family Competencies – Capital Budgeting
Proficiency Level -1
Skill definition-Evaluating and measuring the project's value throughout its life cycle to determine the most advantageous return on investment options.
Level 1 Behaviors
(General Familiarity)
Documents the capital budgeting techniques used to select the organization's best investments.
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Level 2 Behaviors
(Light Experience)
Identifies and reports capital requirements for budgeting to management.
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Level 3 Behaviors
(Moderate Experience)
Provides input on the budgeting process and recommends capital expenditures with healthy returns.
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Level 4 Behaviors
(Extensive Experience)
Oversees the budgeting process for capital needs planning, practice development, and growth opportunities.
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Level 5 Behaviors
(Mastery)
Establishes and implements standards and capital budgeting processes to ensure accurate cash flow projections.
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3 Appraiser (Residential Real Estate) - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Appraiser (Residential Real Estate)
Proficiency Level - 4
5 Competency for - Appraiser (Residential Real Estate)
Proficiency Level - 5

7 soft skills or competencies (core competencies) for Appraiser (Residential Real Estate)

1 Core Competencies – Gathering Information
Proficiency Level -2
Skill definition-Accumulating necessary information from various resources to clarify the situation or make an informed business decision.
Level 1 Behaviors
(General Familiarity)
Explains the use of surveys and interviews in gathering the necessary information.
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Level 2 Behaviors
(Light Experience)
Conducts basic research to identify current industry trends and best practices.
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Level 3 Behaviors
(Moderate Experience)
Participates in various company events to gain information about current business operations.
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Level 4 Behaviors
(Extensive Experience)
Provides training to others about new techniques and strategies for effective data collection.
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Level 5 Behaviors
(Mastery)
Establishes procedures for gathering information to anticipate future customer or business needs.
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2 Core Competencies – Business Math
Proficiency Level -2
Skill definition-Analyzing and managing business operations using business math functions to make informed financial decisions and improve business performance.
Level 1 Behaviors
(General Familiarity)
Documents mathematical techniques and models used to analyze business data.
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Level 2 Behaviors
(Light Experience)
Conducts basic validation and cross-checking to test the profitability of business ideas.
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Level 3 Behaviors
(Moderate Experience)
Utilizes computer software to generate tables and graphs to report business findings.
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Level 4 Behaviors
(Extensive Experience)
Designs charts to present proposals and calculations to minimize risks and maximize profitability.
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Level 5 Behaviors
(Mastery)
Forecasts economic conditions through business math to determine strategic business modifications.
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3 Appraiser (Residential Real Estate) - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Appraiser (Residential Real Estate)
Proficiency Level - 4
5 Competency for - Appraiser (Residential Real Estate)
Proficiency Level - 5

Summary of Appraiser (Residential Real Estate) skills and competencies

There are 0 hard skills for Appraiser (Residential Real Estate).
6 general skills for Appraiser (Residential Real Estate), Records Management, Capital Budgeting, Property Acquisition, etc.
7 soft skills for Appraiser (Residential Real Estate), Gathering Information, Business Math, Attention to Detail, etc.
While the list totals 13 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Appraiser (Residential Real Estate), he or she needs to be proficient in Gathering Information, be proficient in Business Math, and be proficient in Attention to Detail.

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