What is the primary basis for fee appraisers in terms of their employment?

The primary basis for fee appraisers' employment is that they are hired on a project-by-project basis. Fee appraisers typically operate as independent contractors or self-employed professionals who provide appraisal services scheduled as needed. This flexibility allows them to take on various assignments from different clients, which could include banks, real estate firms, or even private individuals seeking property valuations. This project-based work aligns with the nature of the appraisal industry, where demand can fluctuate based on market conditions and the specific needs of clients.

While some appraisers may establish ongoing relationships with lenders or real estate agencies, they do not generally have permanent employment with these entities, nor do they typically receive a fixed salary from the government or any other organization. The nature of their work emphasizes independence and adaptability to the ever-changing demands of the real estate market.