An Examination of the Earnings of Real Estate Appraisers

This paper investigates the factors that influence the earnings of real estate appraisers. Seven types of factors are identified and examined: experience, effort, education, professional training and credentials, personal characteristics, firm characteristics, and market characteristics. Appraiser earnings are found to be consistent with the standard human capital model. Earnings appear to be most affected by work effort, appraisal certification and ownership stake. In addition, the hypothesis that the earnings of male and female appraisers are equal cannot be rejected.