Approxima te Earnings: AMC:Ĭhief Appraiser: $45,000-$90,000 Lending Institutions:Īppraisal Reviewer at Local Bank: $45,000-$80,000Īppraisal Reviewer at Large Bank: $65,000-$125,000 Appraisal Firm:įield Appraiser Salary: Salaries may range from $35,000-$75,000 depending on your years of experience. The more appraisals you do, the more money you can make (and time being your only limit, as long as you have steady supply of appraisal orders). The more hours you work the more appraisals you can do. Compare this where your earnings are fee based. Ĭonsider that salary is based on a standard 40 hour work week and you or may not receive OT pay for any hours beyond. The arrangement may either be salary you may split the fee of the assignment. You may also work for an appraisal company as a field appraiser. As an employee, you will enjoy the benefits of steady pay (hourly or salary) and benefits (insurance and vacation).
Part of the underwriting process is to ensure the reports completed by the assigned field appraisers are credible, reliable, accurate and void of any fraud or detrimental errors. Financial/lending institutions need in-house appraisers to review work done by appraisers they’ve hired who provide an opinion of value for the house they are taking as collateral for the mortgage loan. You may work as an in-house review appraiser at a local or national financial institution, appraisal management company or government sponsored enterprise (Fannie Mae). The amount you can make as a real estate appraiser is determined by many factors. Here’s a chart I created of data provided by the Appraisal Institute of annual incomes for all valuation professionals.
The lowest 10 percent earned less than $32,990 (likely part-time), and the top 10 percent earned more than $107,090. But before we read why, here’s The Bureau of Labor and Statistics stats on appraiser earnings: The median annual wage for real estate appraisers is $58,650 (May 2020).
There are many reasons for the large range. So, how much to real estate appraisers earn? The short answer is that they may earn anywhere from $35,000 per year to $200,000 per year. The amount you earn as a real estate appraiser will depend on your level of certification, years of experience and level of business IQ. (updated 03/2022 with my earnings as an appraiser, added at the end of this article)Īs a real estate appraiser, you may work in a variety of positions at different types of employers (i.e. an appraisal firm or financial institution) or you may own your own business where all work is fee based.
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