Salary Of a Commercial Real Estate Appraiser

Commercial real estate appraisal is a lucrative career within the real estate industry. Appraisers work in both commercial and residential settings. Having a career in commercial real estate creates doors to various opportunities for new networks and to gain new experiences. The field is in high demand, and we will look at the salary of a commercial real estate appraiser.

Salary Of a Commercial Real Estate Appraiser

Salaries for a commercial real estate appraiser

The average salary of a commercial real estate appraiser in the United States is $56,606. They receive pay from $25,032 to $300,000 annually, depending on their years of experience.

The average annual salary of a commercial real estate appraiser is $59,606. Determining the average salary of commercial real estate appraisal can be a bit difficult as it varies depending on the nature of their duties. Diverse factors can greatly affect the salary of commercial real estate appraisal as some people in the field can work independently or in a firm. Appraisal trainees are mostly the lowest paid, and they earn more with experience. At the start of their career, they can earn as low as $20,000, but after taking the appraisal licensing exams, they can be paid from $40,000 to $90,000.

What is a commercial real estate appraisal?

  There is the commercial real estate appraisal and the residential real estate appraisal. The commercial real estate appraisal puts various factors into consideration to appraise a commercial property like an office building or retail building and determine its value. A commercial real estate appraisal gives an unbiased opinion of a property’s value. These appraisals are calculated assessments for the value of any commercial property done by a person of knowledge and experience in this field.

Factors that determine the salary of a commercial real estate appraiser

  Factors like experience, location of the work, skills, and whether the individual is working independently or in a firm join together to determine the sale of an appraiser. Let’s identify these factors one after the other.

  • Experience: Experience can greatly impact the salary of a commercial real estate appraisal. It is the same as saying that you need to spend more years working as a commercial real estate appraisal to earn more salary. Practically, an appraisal trainee with less than a year of experience receives $20,000. Those with 1-4 years of experience receive about $50,907. Those with 5-9 years get $75,759. Those with 10-19 years of experience are paid from $100,900, and those with 20 years of experience are paid $200,000 annually.
  • Licensing: Commercial real estate appraisers need to take the licensing exam. Whether or not you are licensed affects your salary. For example, the salary of an appraisal trainee is $20,000 after taking the licensing exam; they receive between $40,000 to $90,000. As a certified general appraisal, you can receive up to $200,000.
  • Location: The location of the job also determines the salary. For example, living in a large urban area correlates to receiving a higher salary. Places like California, Washington, New York, and Florida have high costs and pay the most.

Different earnings for commercial real estate appraisal in the united states

  The earnings between States in the United States differ. The lowest and highest salary rates Are what we will be discussing here.

  • California: Commercial real estate appraisers in California can earn as high as 200,000 annually and as low as $38,728, depending on whether they are licensed. The average pay of a certified commercial real estate appraisal is $71,785.
  • Oregon: The average salary for a commercial real estate appraisal in Oregon is $61,925. They can receive higher or lower than the average sales based on their experiences.
  • Washington: The average sales of a commercial real estate appraisal in Washington is about $70,164 annually. They earn as low as $37,987 and as high as $150,000 working as a commercial real estate appraisal annually. 
  • North Dakota: Commercial real estate appraisals in North Dakota can earn as high as $110,000 and as low as $38,214 annually. The average earning of a certified real estate appraisal is $65,553.
  • Michigan: The average annual salary for a commercial real estate appraisal in Michigan is $60,023. They can earn as high as $125,035 and as low as $34,828 annually.
  • Mississippi: Commercial real estate appraisal in Mississippi can earn as low as $39,000 and as high as $99,500 annually. The average annual salary of a commercial real estate appraisal is $$55,065.
  • Alabama: The average annual salary of a commercial real estate appraisal in Alabama is $56,000. They earn as low as $33,325 and as high as $100,000 annually. 
  • Georgia: The average annual salary of a commercial real estate appraisal in Georgia is $70,080. They earn as low as $38,700 and as high as $121,200.
  • Arkansas: A commercial real estate appraisal in Arkansas receives an annual average salary of $54,176. They receive as high as $108,090 and as low as $32,990 annually.
  • Tennessee: Commercial real estate appraisal in Tennessee receives an annual average of $56,600. They are paid as high as 106,317 and as low as $34,990.
  • Hawaii: The average annual salary of a commercial real estate appraisal in Hawaii is $67,116. They receive as low as $30,086 and as high as $122,439.

Maximum and minimum earning 

  The earnings differ greatly among commercial real estate appraisals. The maximum pay for those with the highest experience can be in the range of $140,000 to $300,000, depending on the nature of the contract. 

  The minimum payment can be as low as $20,000 annually as a part-time or beginning commercial real appraisal.

Conclusion

 Appraisals are usually done by people of professional knowledge in the field, creating an unbiased estimate of the value of the property you either want to sell or purchase. Commercial real estate appraisals are in high demand and are highly paid in different states.

Frequently asked questions
  • What is the difference between a commercial real estate appraiser and a residential real estate appraisal?

Answer: They are both professionals in their field. Commercial real estate appraisals are for commercial use or renting, while residential real estate appraisals are majorly for residential use, but they can sometimes lease out these properties.

  • Who is the most highly paid real estate appraiser? Commercial or residential appraiser?

Answer: Commercial real estate appraisal receives the most money. The certified general appraisers can receive as high as $150,000 and above.

  • Is licensing important as a commercial real estate appraiser?

Answer: Licensing is important. The more work you get, the more experience you are exposed to, and the higher your salary. You must take the licensing exam to be exposed to bigger opportunities in the future.

Salary Of a Commercial Real Estate Appraiser

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