What Are Real Estate Appraisers?
Tasks of real estate appraisers
■What are real estate appraisers?
Real estate appraisers are the only qualified specialists authorized to evaluate the economic value of real estate and assign it a monetary value. By making the most of their accumulated expertise and experience, they also engage in real estate consultation – an adjacent area that is a development of the real estate appraisal service.
■What are the tasks of real estate appraisers?
In addition to the public announcement of land prices and prefectural land price surveys conducted by the national and prefectural governments, assessment of inheritance taxes and residential land lots as the real estate tax base, their tasks also include appraisal in connection with the acquisition of public land, appraisal relating to judicial decisions, collateral evaluation for financial institutions, and asset evaluation required for business mergers and acquisitions.
■What are real estate consulting services?
Serving individuals as well as businesses, real estate appraisers offer specialist advices on the most effective use of real estate, on inheritance taxes, counseling on real estate development projects, and conduct price and investment analyses, among other services.Qualifying examinations
■Short-answer tests
| Test subjects | Two subjects: administrative laws and regulations regarding real estate; theories related to real estate appraisal |
| Examination eligibility | Anyone can take the examination, regardless of age, gender and nationality. |
| Test day | Once a year in May |
■Essay-type tests
| Test subjects | Five subjects: Japanese civil code; economics; accounting; theories related to real estate appraisal (exercises); theories related to real estate appraisal (essay-type problems) |
| Examination eligibility | Those who have passed the short-answer tests |
| Test day | Once a year in early August (for three days) |
■Professional education course
Those who have passed the above tests are required to undergo a professional education course at an organization registered with the Ministry of Land, Infrastructure, Transport and Tourism.
■Certified real estate appraiser
After examination upon completion of the foregoing professional education course, those who are considered to have met the requirements and have been recognized as such by the Ministry of Land, Infrastructure, Transport and Tourism can be registered as qualified real estate appraisers.