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.
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.
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.
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.
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.