Interview policyholders and pay-out small insurance claims.
Commercial Appraisers provide their clients with reliable and professional opinions about the prices on objects of value, most commonly real estate, but also antiques, art, collectibles, or other items. Commercial Appraisers generally earn a flat fee for each appraisal, which involves studying and researching the item then writing an appraisal report. Your report includes a description of the item, information about its history, a discussion of the market for the item, and your estimate of its value (or a range of values).
Some successful Commercial Appraisers specialize very narrowly, while others acquire knowledge and training that qualifies them to appraise a wide range of objects. For each category of objects, you’ll need to understand and apply the appropriate methods of analysis and valuation.
Depending on the item(s) you’re appraising, you may use any method from computer modeling to simple arithmetic. You may perform scientific tests on the item, take basic measurements, or simply look it over. There may also be laws that apply to appraisals of certain items, such as real estate. To legally appraise these items, you have to adhere to the letter of these laws.
Whatever you’re appraising, you need to keep up to date on current market information — particularly recent sales of similar items — and know which factors contribute to the item’s value. To set a value for the item you’re appraising, you usually start with the most recent prices for comparable items, then add and subtract specific amounts for each of the item’s important factors, based on any differences from similar items that have sold.