What is the role of a real estate appraiser?

The role of a real estate appraiser is fundamentally to estimate the value of real property. Appraisers use various methods, including comparative market analysis, income approaches, and cost approaches, to determine an accurate representation of a property's worth. This valuation is essential for various stakeholders in real estate transactions, such as buyers, sellers, lenders, and investors, as it helps them make informed decisions based on current market conditions.

In contrast to managing property sales and negotiations, which involves the act of facilitating transactions between buyers and sellers, the appraiser focuses solely on assessing value. Similarly, executing legal transactions for property transfers usually falls under the domain of real estate agents or attorneys, who handle the legal aspects of property sales. Leasing properties on behalf of landlords pertains more to property management, which is not the function of an appraiser. Thus, the specific and critical task of estimating property value is what defines the appraiser's role in the real estate industry.