In order to become a business appraiser, a person has to fulfill several different types of requirements. Most companies that hire a business appraiser will prefer for the person to possess certain skills and characteristics in addition to licensing and educational requirements. The most important characteristic a person needs to have in order to become a business appraiser is a willingness to dedicate a large amount of time to his or her career. There area many options for career advancement once the basic requirements are met as there is a steady demand for business appraisers.
Preparation to be a business appraiser can begin as early as high school. A high school student should focus on classes in mathematics and business, taking as many as are offered. In addition, joining clubs such as Future Business Leaders of America (FBLA) can give an aspiring business appraiser early experiences in the field of business. A student could also seek employment in local companies during the summer in order to experience the environment firsthand.
In the United States, in order to become a business appraiser, a person must be licensed within the state where he or she wishes to perform appraising services. A person becomes licensed by passing an examination, which is based on the Universal Standards of Professional Appraisal Practices. Most companies that hire business appraisers will also require the person to hold some type of four-year college degree in an accounting or finance field. In addition to licensing and educational requirements, obtaining certain types of certifications is sometimes preferred, including being a Certified Business Appraiser and/or a Certified Valuation Analyst.
Many people who choose to become a business appraiser will acquire an internship within an appraising company while completing educational, licensing, and/or certification requirements. A large number of appraising companies prefer for their business appraisers to work first as an intern, which allows the companies to train them. Working as an intern also helps a person to learn the necessary knowledge that it takes to pass the business appraiser licensing exam. Some states require that a person has trainee hours completed before taking a licensing exam, and the hours worked as an intern qualify as training.
Becoming a successful business appraiser requires a person to possess certain characteristics. Dedication is the number one characteristic needed, as long hours and tiring days are often endured by those who become a business appraiser. In addition to dedication, a person should have the ability to adhere to client confidentiality practices, be independent, and have good communication skills. A business appraiser will often interact with the clients for whom he or she is performing services, making it very important for the appraiser to have superb social skills as well.
