What is Appraisal?

A definition of Appraisal

“An appraisal is an expert estimate of the value of something, often used in reference to property, art, or other assets. It can also refer to the evaluation of an employee’s performance within a company.”

Appraisal in Business Glossary - What is an Appraisal?

Business Glossary > What is Appraisal?


Examples of Appraisal in a Sentence:

The company conducted an appraisal of the property’s value before selling it.

A yearly employee appraisal can help identify areas for improvement.

The art appraisal revealed that the painting was worth thousands more than expected.

Why is Appraisal Important in Business?

Appraisals are crucial for providing fair market assessments of assets, which are essential for buying, selling, and insuring property or goods. Accurate appraisals ensure that transactions are made at appropriate values and that employee performance is fairly evaluated.

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Associated Terms

Here are some associated business terms and synonyms for “Appraisal”:

  • Valuation
  • Assessment
  • Evaluation

Real Estate Appraisal at Zillow

Zillow, a leading real estate marketplace, relies on appraisals to provide property value estimates to homeowners and buyers. Accurate appraisals are vital for setting the right price points and for transactions involving mortgages.

Final Notes on Appraisal

When considering an appraisal, individuals and businesses should ensure they use qualified appraisers to obtain accurate valuations. This helps in making informed decisions, whether in buying or selling assets or evaluating employee performance.


This has been a definition of Appraisal meaning.

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