Depending on the purpose of the appraisal, they may estimate the market value of the property, the insurable value, the investment value, or other kinds of value. Appraisers must prepare formal written reports of their findings that meet the standards of The Appraisal Foundation. Real estate appraisers often specialize in certain types of properties. Most appraise only homes, but others specialize in appraising apartment or office buildings, shopping centers, or a variety of other types of commercial, industrial, or agricultural properties. Although real estate agents, brokers, and appraisers generally work in offices, much of their time is spent outside the office-showing properties to customers, analyzing properties for sale, meeting with prospective clients, researching the state of the market, inspecting properties for appraisal, and performing a wide range of other duties.
Brokers provide office space, but agents generally furnish their own automobiles.
They often work evenings and weekends to suit the convenience of their clients. Employment Real estate agents, brokers, and appraisers held about 374,000 jobs in 1994. Many worked part time, combining their real estate activities with other careers. Most were self-employed, working on a commission basis. Some large real estate firms have several hundred real estate agents operating out of many branch offices.