Tools commonly used in the Appraisers industry for day-to-day tasks and operations.

• Measuring tape
• Digital camera
• Laser measuring device
• Calculator
• Computer software for data analysis
• Comparable sales database
• Inspection checklist
• Sketch pad and pencils
• Mobile device for on-site data collection
• GPS device for location tracking

Common products and services typical of NAICS Code 541990-01, illustrating the main business activities and contributions to the market.

• Real estate appraisals
• Personal property appraisals
• Business valuation
• Art and antique appraisals
• Machinery and equipment appraisals
• Jewelry and gemstone appraisals
• Insurance appraisals
• Estate and trust appraisals
• Tax assessment appraisals
• Agricultural property appraisals

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Certified General Real Property Appraiser: This certification is required for appraisers who appraise all types of real property. It is issued by the Appraisal Qualifications Board (AQB) and requires a bachelor's degree, 300 hours of qualifying education, 3,000 hours of experience, and passing an exam.
• Certified Residential Real Property Appraiser: This certification is required for appraisers who appraise residential properties with up to four units. It is issued by the AQB and requires a bachelor's degree, 200 hours of qualifying education, 2,500 hours of experience, and passing an exam.
• Uniform Standards Of Professional Appraisal Practice (USPAP): This is a set of standards that appraisers must follow when performing appraisals. It is issued by the Appraisal Foundation and is required by federal law.
• National Uniform Licensing and Certification Exam: This exam is required by most states for appraisers to become licensed or certified. It tests knowledge of the Uniform Standards of Professional Appraisal Practice (USPAP) and other appraisal principles.
• Real Estate Appraiser License: This license is required by most states for appraisers to practice. It requires education, experience, and passing an exam. The requirements vary by state.

A concise historical narrative of NAICS Code 541990-01 covering global milestones and recent developments within the United States.

• The Appraisers industry has a long history dating back to ancient times when appraisers were used to determine the value of goods and services. In the United States, the industry began to take shape in the early 20th century when the first professional appraisal organizations were established. The Appraisal Institute, founded in 1932, is one of the oldest and most respected organizations in the industry. In recent years, the industry has seen significant growth due to the increasing demand for real estate appraisals and the rise of online appraisal services.

The anticipated future trajectory of the NAICS 541990-01 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Appraisers industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for appraisal services in various sectors such as real estate, insurance, and finance. The growth of the real estate market is expected to be a major driver of the industry's growth. Additionally, the increasing use of technology in the industry is expected to improve efficiency and reduce costs. However, the industry may face challenges such as increased competition and regulatory changes. Overall, the industry is expected to continue to grow and evolve in the coming years.

Recent groundbreaking advancements and milestones in the Appraisers industry, reflecting notable innovations that have reshaped its landscape.

• Automated Valuation Models (Avms): AVMs are computer algorithms that use data such as property characteristics and recent sales to estimate property values. AVMs have become increasingly popular in the real estate industry and are being used by appraisers to improve efficiency and accuracy.
• Mobile Apps: Many appraisers are now using mobile apps to collect data and complete appraisals in the field. These apps allow appraisers to take photos, record notes, and access data on the go, improving efficiency and reducing turnaround times.
• Green Appraisals: Green appraisals are appraisals that take into account a property's energy efficiency and sustainability features. With the increasing focus on sustainability, green appraisals are becoming more common and are expected to continue to grow in popularity.
• Automated Underwriting Systems: Automated underwriting systems are computer programs that analyze loan applications and determine whether they meet certain criteria. These systems are being used by lenders to streamline the loan approval process and reduce costs.
• Blockchain Technology: Blockchain technology is being explored as a way to improve the transparency and security of property transactions. Appraisers may use blockchain technology to securely store and share appraisal data, improving efficiency and reducing the risk of fraud.