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%
$59,180
TOTAL 50%
$60,837
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)
Explains record management standard practices and procedures.
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Level 2 Behaviors
(Light Experience)
Supports record management and data collection to comply with laws and regulations.
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Level 3 Behaviors
(Moderate Experience)
Performs data maintenance for records to reduce the liabilities associated with document disposal.
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Level 4 Behaviors
(Extensive Experience)
Manages record management procedures to ensure better traceability.
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Level 5 Behaviors
(Mastery)
Creates a tracking system for record management to support continuous process improvement.
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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)
Explains how capital budgeting works in the evaluation and selection of long-term 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)
Lists the principles and procedures of gathering information.
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Level 2 Behaviors
(Light Experience)
Determines the source of information to verify its reliability.
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Level 3 Behaviors
(Moderate Experience)
Uses survey results to identify areas that need improvement within our business.
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Level 4 Behaviors
(Extensive Experience)
Recommends improvement of our business's records retention program.
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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)
Explains key functions and lists possible challenges of using business math.
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Level 2 Behaviors
(Light Experience)
Uses arithmetic formulas and solutions to address basic business problems.
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Level 3 Behaviors
(Moderate Experience)
Utilizes mathematical models to determine root causes of recurring business problems.
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Level 4 Behaviors
(Extensive Experience)
Integrates mathematical business concepts to enhance business outcomes.
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Level 5 Behaviors
(Mastery)
Leads the analysis of financial data to improve fiscal efficiency through business math functions.
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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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