A Real Estate investment Appraiser performs a service called as real estate appraisal. An appraiser gets the opinion of value based upon the highest and best use of real estate investment property. The highest and best use is that use which produces highest and possible return on real estate property. This use must be profitable and probable. Also of importance is the definition of the type of value being developed and this must be included in the appraiser, i.e. fair market value, condemnation value, quick sale value, etc. Typically, the real estate appraiser value is reported on a standardized form, the Uniform Residential Appraisal Report.

In the US, the appraiser licensing of individuals is left to the states. However all appraiser for a “Federally Related Transaction” must be performed by an appraiser with the appropriate type of license, and conform to USPAP. The individual states have the rights to decide if licensing is required for other types of appraiser. A real estate investment appraiser will provide their personal opinion of value, based on their estimate of the market’s reaction, but other appraisers will have varying opinions and sometimes the market reacts in unexpected ways. An appraiser is no more accurate than other predictions of human behavior.