Commercial Real Estate Appraiser Salary in Texas
How much does a Commercial Real Estate Appraiser make in Texas?
As of Apr 1, 2022, the average annual pay for a Commercial Real Estate Appraiser in Texas is $54,290 an year. Just in case you need a simple salary calculator, that works out to be approximately $26.10 an hour. This is the equivalent of $1,044/week or $4,524/month.
While ZipRecruiter is seeing salaries as high as $85,060 and as low as $36,328, the majority of Commercial Real Estate Appraiser salaries currently range between $44,302 (25th percentile) to $79,743 (75th percentile) with top earners (90th percentile) making $82,402 annually in Texas.
The average pay range for a Commercial Real Estate Appraiser varies greatly (as much as $35,441), which suggests there may be many opportunities for advancement and increased pay based on skill level, location and years of experience.
Based on recent job posting activity on ZipRecruiter, the Commercial Real Estate Appraiser job market in Texas is not very active as few companies are currently hiring.
Texas ranks number 42 out of 50 states nationwide for Commercial Real Estate Appraiser salaries.
To estimate the most accurate annual salary range for Commercial Real Estate Appraiser jobs, ZipRecruiter continuously scans its database of millions of active jobs published locally throughout America.
Find your next high paying job as a Commercial Real Estate Appraiser on ZipRecruiter today.
What are Top 10 Highest Paying Cities for Commercial Real Estate Appraiser Jobs in Texas
We’ve identified 10 cities where the typical salary for a Commercial Real Estate Appraiser job is above the average in Texas. Topping the list is Dallas, with Odessa and Austin close behind in second and third. Austin beats the Texas average by 22.2%, and Dallas furthers that trend with another $14,636 (27.0%) above the $54,290.
Significantly, Dallas has a very active Commercial Real Estate Appraiser job market as there are several companies currently hiring for this type of role.
With these 10 cities paying on average above the average for Texas, the opportunities for economic advancement by changing locations as a Commercial Real Estate Appraiser appears to be exceedingly fruitful.
Finally, another factor to consider is the average salary for these top 10 cities varies very little at 11% between Dallas and Midland, reinforcing the limited potential for much wage advancement. The possibility of a lower cost of living may be the best factor to use when considering location and salary for a Commercial Real Estate Appraiser role.
|City||Annual Salary||Monthly Pay||Weekly Pay||Hourly Wage|
What are Top 5 Best Paying Related Commercial Real Estate Appraiser Jobs in Texas
We found at least 5 jobs related to the Commercial Real Estate Appraiser job category that pay more per year than a typical Commercial Real Estate Appraiser salary in Texas. Top examples of these roles include: Real Estate Partner, Vice President Commercial Real Estate, and Estate Manager.
Importantly, all of these jobs are paid between $29,093 (53.6%) and $75,139 (138.4%) more than the average Commercial Real Estate Appraiser salary of $54,290. If you’re qualified, getting hired for one of these related Commercial Real Estate Appraiser jobs may help you make more money than that of the average Commercial Real Estate Appraiser position.
|Job Title||Annual Salary||Monthly Pay||Weekly Pay||Hourly Wage|
|Real Estate Partner||$129,429||$10,786||$2,489||$62.23|
|Vice President Commercial Real Estate||$105,486||$8,790||$2,029||$50.71|
|Commercial Real Estate Relationship Manager||$83,383||$6,949||$1,604||$40.09|
Real Estate Appraiser salary in Texas
How much does a Real Estate Appraiser make in Texas?
Average base salary
as national average
Most common benefits
The average income for home appraisers is $61,116 as of February 2022, according to PayScale, although a certified residential real estate appraiser may earn $100,000 or more, as they become more experienced.1 A trainee earns considerably less with annual earnings before taxes as low as $37,586.2 An appraiser’s salary is highly dependent on the appraiser’s level of experience and licensing.
- Experienced real estate appraisers can make upwards of $100,000.
- Real estate markets always need experienced appraisers.
- Residential appraisers must be certified to perform appraisals on houses.
- Residential appraisal trainees must complete a licensing training course and obtain a trainee license before they begin work alongside an appraiser.
- Trainees make very low pay until they are established in the field.
Trainees may be paid a small fee for each home appraisal or they may be paid hourly depending on the situation. Payments can start as low as $50 and increase to $150 as the trainee develops the competence to do most of the work unassisted.
Expected compensation during the training period may be approximately $1,000 to $3,000 per month. The majority of the few salaried appraiser trainee positions are available at commercial appraisal firms or government tax assessor’s offices.
A trainee needs at least 1,000 hours of training before qualifying to take the real estate appraiser licensing exam.3 Residential appraisal trainees must complete a licensing training course and obtain a trainee license before being considered for employment.
Potential trainees must seek out a licensed real estate appraiser who is willing to supervise their work. Some licensed appraisers require trainees to pay an upfront fee as compensation for the initial training period. Trainees are covered by their supervisor’s errors and omissions insurance (E&O) and are given access to required data services.
Salaries start at about $40,000 and top out at over $100,000 for licensed appraisers.1 Appraisers can work for an appraisal management company (AMC), lending institution, or government agency. Most salaried jobs are for tax assessors or appraisal reviewers, though there are some positions for field appraisers.
Post-housing crisis financial reforms require the use of unaffiliated appraisers for most mortgage appraisals.45
Independent fee appraisers perform the majority of appraisals for conforming mortgages, refinancing, or home equity loans. Independent appraisers are paid per job.
Standard fees for a Fannie Mae-compliant appraisal are around $450. Assignments from AMCs pay in a range of $200 to $350 or more. Doing an appraisal per day for 50 weeks gives a gross income of $50,000 to $100,000.
Certified Residential Appraiser
Certified appraisers can earn gross incomes of $75,000 to $200,000. The higher level of income goes to appraisers who have trainees or standard appraisers working for them, or live in areas with large numbers of expensive homes. A certified residential appraiser must have at least 1,500 hours of experience as an appraiser and pass a special licensing test.6
The appraisal of any home with a value of more than $1 million, or considered complex, must be completed by a certified appraiser.7 The Uniform Standards of Professional Appraisal Practice (USPAP) sets the standards for complex appraisals.8 Certified appraisers are in demand for appraisals of any size for use in legal proceedings connected to a divorce, estate, or tax litigation.
Certified residential appraisers are in higher demand and may charge more for their services. By law, appraisers are not allowed to base their fees on the value of a home.4 They compensate for this restriction by having a square footage surcharge set to the approximate size. Total fees can run in the $500 to $750 range or higher.
What Type of Appraisers Make the Most Money?
Certified residential appraisers make a significant amount of money. It is not unusual for such appraisers to charge over $500, sometimes into the thousands for what amounts to less than a day of work.
What Types of Upgrades Do You Tell Appraisers?
It is important to tell appraisers of all upgrades you have done to your property. Anything from fixing rain gutters to redoing kitchens, switching out water heaters to adding a new air-conditioning system. You should tell them about anything you have done that could add value to your house.
What Hurts a Home Appraisal?
Generally, what can drag down an appraisal comes down to not maintaining a property. Peeling paint, leaking pipes, broken windows, and any other form of damage will lower an appraisal value. Selling a residential home that requires an appraisal means you are selling a product, and it needs to be in the best shape possible to ensure the highest valuation.
The Bottom Line
Although they command a higher-than-average salary, independent fee appraisers are responsible for all of their expenses. The average E&O policy costs around $750 per year. Software licensing, data services, professional association membership fees, and continuing education cost at least $4,000.
On top of these base expenses, the appraiser still needs to pay for supplies, marketing, utilities, workspace, self-employment tax, and automobile expenses. Appraiser training course companies paint rosy pictures of easy money and high incomes for real estate appraisers. The reality is that the work is time-consuming, and the top earnings belong to people who work long hours and are good at running their own businesses.
Real estate appraisers have many possible working arrangements, license types and potential employers. As a result, it can be challenging to determine how much an average appraiser makes. Even so, according to the Bureau of Labor Statistics, employment in this field is expected to grow by 7% over the next decade.
Real estate appraisers’ salaries vary greatly by the nature of their duties. Appraisers can have part-time or full-time hours, work independently, with other appraisers or for a firm. Some government lending agencies hire appraisers as do private lending institutions. While all of these can affect an appraiser’s earnings, perhaps the most significant factor is the type of license an appraiser possesses.
According to Indeed.com, the average salary for a real estate appraiser is $57,606 per year. The range of reported salaries is from $14,000 per year to $142,000 per year. The lower end of the scale is most likely part-time or beginning trainee appraisers. This information is based upon over 400 salaries Indeed collected from employees, companies and recent job postings.
The Appraisal Foundation has a fast fact PDF with some statistics: You can access it HERE. According to TAF average salaries for appraiser vary based on a number of factors, including geography and experience and can range from $28,440 to $101,710.
Beginning appraisers are called appraiser trainees. They usually work part-time and are paid per appraisal. Appraiser trainees often make between $50 and $150 per appraisal, earning more with increasing experience and expertise.
After 1000 hours of work as a trainee, appraisers have the option to take the real estate appraiser licensing exam. Once an appraiser reaches this level of license, average salaries range between $35,000 and $80,000 depending on the employer. With experience, licensed appraisers may move into management positions which pay more.
The next level of real estate appraiser licensing is the certified residential appraiser. On average, they earn approximately $10,000 more per year than licensed appraisers.
The highest level of appraisers, certified general appraisers, earn about $15,000 more per year than certified residential appraisers.