Texas Property Tax Consultant Practice Exam

Which term describes a professional that evaluates properties for value?

1. Real estate agent

2. Appraiser

3. Property developer

4. Market analyst

The correct answer is: Appraiser

The term that describes a professional who evaluates properties for value is an appraiser. An appraiser is specifically trained to determine the market value of real estate by analyzing various factors, including the property's location, comparable sales, market trends, and the condition of the property. They provide unbiased, independent assessments, which are often required for mortgage lending, estate planning, property tax disputes, and other real estate transactions. In contrast, a real estate agent focuses on helping buyers and sellers navigate the buying or selling process, but does not perform formal appraisals. A property developer is involved in the process of acquiring land, constructing buildings, or renovating properties, thus their role is centered on development rather than valuation. A market analyst studies market trends and conditions but does not provide the detailed property valuation that an appraiser does. This focus on valuation and the specific training required for appraisers clearly distinguishes them as the correct answer.