Real Estate Appraisal as a Home Based Business
Real estate appraisal is a good solid opportunity for a home based business. It is; however, a job that you must be trained to do. It is not something that just anyone can jump into and start doing. In order to do a proper appraisal you need to have knowledge of several things:
- Comparable sales in a given market area. How much have homes or businesses been selling for per square foot in the last three months in the area in question.
- What items cause things to receive either a higher or lower valuation. Proximity to schools. Are those schools highly rated, mediocre or poorly rated. Airports and other things that could cause noise pollution. Proximity to flood plains. Proximity to shopping, libraries and community centers.
- Use of up to date technology to figure values
- Knowing how to figure square footage of a structure and what does and does not qualify in these totals.
In addition to the above mentioned areas of concern, if you are going to run a successful home based business as a real estate appraiser, you are going to need to advertise. This might be done through the yellow pages, online on the Internet, or through direct mailings to real estate agents. In the long run it is making favorable connections with real estate agents that will likely prove the most useful to your home based business.
One of the best things you can do to assure success of your home based business offering real estate appraisals is to be at a location at the time promised. Both real estate agents and their clients normally have tight schedules and the last thing they want when preparing to close on a property is to have to sit around and wait for an appraiser or inspector to show up.