What is the primary role of an appraiser in the property valuation process?

The primary role of an appraiser in the property valuation process is to determine the fair market value of the property. This involves a comprehensive assessment that includes analyzing various factors such as the property’s location, condition, and the recent sales prices of comparable properties in the area. An appraiser uses standardized methods and approaches, such as the cost approach, sales comparison approach, or income approach, to derive an unbiased estimate of the property’s market value. This valuation is crucial for various transactions, including buying, selling, refinancing, and for the purposes of taxation or insurance.

While the other roles mentioned in the choices are important in real estate, they do not align with the primary function of an appraiser. Marketing properties pertains to real estate agents, offering legal opinions about ownership relates more to attorneys or title companies, and tenant-landlord disputes typically involve legal practitioners or mediators rather than appraisers. Thus, the focus on establishing fair market value reinforces the appraiser’s essential role in ensuring transparent and accurate transactions in the real estate market.