What is the primary role of a real estate appraiser?

The primary role of a real estate appraiser is to estimate the market value of a property. This process involves a thorough analysis of various factors such as the property's location, conditions, comparable sales in the area, and other relevant market data. The objective of the appraisal is to provide an unbiased and accurate valuation that can be used by various stakeholders, including buyers, sellers, lenders, and investors, to make informed decisions regarding financial transactions related to real estate.

Estimating market value is essential, as it helps to establish a realistic price for buying or selling a property, ensures that lenders have a sound basis for granting loans, and contributes to compliance with regulations and standards in the real estate industry. The appraiser's meticulous evaluation is central to maintaining fairness and transparency in property transactions.