Commercial real estate appraising is a complex profession that requires practitioners to have an ample skill set as well as professional knowledge – here are some of the most important skills shared by successful appraisers.
Hard Skills
Real estate appraisers need to be good at maths (they do unit conversion and all sorts of calculations during their work and the results cannot contain errors), they need great writing skills to be able to prepare lengthy narrative reports that are easy to understand and well-worded and they also need great analytical skills to be able to synthetize data and to be able to pick the right data sources. They also need extended knowledge of applicable laws, regulations and reporting requirements, and expert skills in a good commercial real estate appraisal software is recommended too.
Soft Skills
The best real estate appraisers also display various soft skills – here are a few:
- Organization and time management – appraisers often juggle multiple tasks simultaneously and they usually work with multiple clients at the same time, so they can only stay focused if they are well-organized;
- Communication skills – a great appraiser knows how to handle any client, how to communicate with clients about difficulties, unexpected situations or problems in a calm, but assertive manner;
- Problem solving skills – keeping a level head whatever happens and being able to choose the right solution for any problem quickly are also essential.
Originally Posted right here: Skills Needed to Succeed in Commercial Real Estate Appraisal
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