Real estate appraisal, also called property valuation and land valuation, is the act of determining a property’s market value. Because every property is unique, real estate appraisal is an important part of the buying and selling process. Each property needs to be appraised in order to determine how much one should buy or sell it for. One of the most important aspects of real estate appraisal is where the property is located. In many areas of the country, one does not need to be licensed or certified to appraise a property, which means that driven individuals who study the appraisal process may have the opportunity to sell their services and create their own real estate appraisal business.