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)
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)
Integrates program management to improve the efficiency of record management.
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Level 5 Behaviors
(Mastery)
Conceptualizes strategic plans for records and practices to streamline communication and workflow.
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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)
Describes the importance of evaluating investment proposals in capital budgeting.
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Level 2 Behaviors
(Light Experience)
Compiles and tracks information from active projects to assist in projects’ annual capital budgeting process.
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Level 3 Behaviors
(Moderate Experience)
Participates in budgeting to recommend new capital equipment investments to senior management.
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Level 4 Behaviors
(Extensive Experience)
Facilitates in-depth capital budgeting analysis on projects and investments to abstain from over and under-investing.
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Level 5 Behaviors
(Mastery)
Designs and develops financial models to support budgeting and capital allocation decisions.
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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)
Describes the importance of gathering relevant information in making informed business decisions.
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Level 2 Behaviors
(Light Experience)
Checks multiple sources to get complete and accurate information.
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Level 3 Behaviors
(Moderate Experience)
Asks questions and gathers the necessary information to make informed business decisions.
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Level 4 Behaviors
(Extensive Experience)
Monitors the overall process of records retention programs.
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Level 5 Behaviors
(Mastery)
Designs a system for monitoring the effectiveness of data-gathering channels.
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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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