An appraisal is the assessment or evaluation of worth, value, or quality of a person or thing. It is also referred to as the valuation of properties such as real estates, businesses, or items of high importance. This is usually estimated by an authorized person designated by a regulatory body, such as the government or other licensed entities.
Appraisals are usually used for properties, but they are also used in business to review their employees’ performances, which includes their skills, achievements, growth or lack thereof, and overall contribution to the company. The management usually uses Appraisal Forms to do this, while individuals can use them for self-evaluation.
Staff Performance Appraisal Form
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When is an Appraisal Needed
- Real Estate Appraisal
Also called land valuation, the real estate appraisal is required from time to time because every property is unique and different locations serve different purposes. They are usually reported on standardized Land Appraisal Forms, which can be bases for mortgage loans, settling real estates and divorces, taxation, etc.
- Personal Property Appraisal
Aside from land properties, appraisals can also be applied to tangible assets of high importance or cultural significance. Items such as artworks, tools, and furniture usually increase their worth over time. That is why a regular appraisal is needed, which makes antiques very valuable.
- Business Appraisal
When a business becomes successful and its brand becomes a household name, its value also improves. In order for a business to qualify for an appraisal, their total asset should generate a certain amount including income or profit, inventory, supplies, equipment, leasehold improvements, and rental furnishings.
- Performance Appraisal
For an effective management and work delegation in a company, appraisals are conducted to help develop individuals and improve organizational performance, which results in salary increases and job satisfaction. Teacher Appraisal Forms are usually given by the school principal for career and succession planning.
Teacher Appraisal Form Sample
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Self Appraisal Form Example
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General Appraisal Waiver Form
Standard Appraisal Request Form
Self Appraisal Forms are forms that can help you prepare for that yearly performance review conversation with your manager. These also serve as a physical foundation for a discourse about your current position, your contributions to your department, and your developmental interests and needs.
What Appraisals Should Be
- Performance appraisals should address an individual’s whole development. Aside from his or her job skills or required achievements for the next promotions, appraisals should also assess their personal improvement.
- Appraisals should not discriminate. Regardless of age, gender or sexual orientation, race or nationality, or religious belief, it should only consider factors related to the asset or property appraised.
- Appraisals should be sustainable. An item or property should not be valued way more than its worth in such a way that it defeats its purpose. An appraisal should reflect the amount the buyer would be willing to spend.
- Appraisals should always be deemed necessary. To make workers feel appreciated and help them set new goals, as well as for things not to get wasted and help our environment.
- Appraisals should be done regularly. In order to keep an organization’s or a property’s competence and lead among competitors, Annual Appraisal Forms should be distributed to maintain one’s presence in the market.
- Appraisals should be geared toward a goal. Whether it’s a performance or property appraisal, it should serve the universal purpose of valuing people and things, thus making a better society.
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