What is one of the roles of an appraiser?

One of the primary roles of an appraiser is to provide an opinion of value based on objective criteria. This involves assessing the property through various methods, such as comparing it to recently sold similar properties (comparative market analysis), considering the cost to replace the property, or evaluating the income potential if it is an investment property. The appraiser uses standardized approaches and guidelines to ensure that their valuation reflects the fair market value, which is crucial for buyers, sellers, lenders, and investors in making informed decisions during real estate transactions. This objective assessment plays a vital role in establishing property worth for financing, insurance, or taxation purposes, thereby underpinning the entire real estate market with necessary valuation data.