In any real estate transaction, one of the most important elements is the price of the property. To be able to determine the market value of a property, lenders and real estate brokers hire a real estate appraiser to asses its market value. There are three types of appraisal that appraisers employ ? the VA, FHA and conventional appraisals. Professional real estate appraisers have real estate appraisal licenses that allow them to practice their profession.