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Appraisals Meaning: Definition, Examples, and Translations

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appraisals

[ษ™หˆpreษชzษ™lz ]

Definitions

Context #1 | Noun

performance evaluation

Appraisals are formal assessments of an employee's performance, typically conducted annually by their manager. These assessments often include feedback on strengths and areas for improvement, goal setting, and career development discussions.

Synonyms

assessment, evaluation, review.

Which Synonym Should You Choose?

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Word Description / Examples
appraisals

This word is often used in professional and financial contexts, particularly in relation to estimating the value of property, assets, or even employee performance.

  • The real estate appraisals were completed last week.
  • Year-end appraisals help identify top performers.
evaluation

This term is widely used in both professional and academic settings. It involves a systematic determination of a subject's merit, value, and significance, often using criteria.

  • The project evaluation revealed areas for improvement.
  • We will conduct an evaluation of the new software next week.
assessment

Commonly used in educational, professional, and technical fields. It can refer to evaluating skills, knowledge, or property values.

  • The teacher's assessment of the students' essays was thorough.
  • The environmental impact assessment highlighted several risks.
review

Can be used in various contexts, including academia, professional settings, and everyday life. It usually means looking over something again for improvement, feedback, or formal assessment.

  • The team will have a quarterly review meeting.
  • She wrote a detailed review of the book.

Examples of usage

  • The annual appraisals help employees understand how they are performing in their roles.
  • After the appraisal, the employee received constructive feedback on their performance.
  • During the performance appraisal, the manager discussed future goals with the employee.
Context #2 | Noun

valuation of property

Appraisals can also refer to the process of determining the value of a property, such as a house or land. This type of appraisal is often carried out by a professional appraiser and takes into account various factors like location, condition, and market trends.

Synonyms

assessment, estimate, valuation.

Which Synonym Should You Choose?

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Word Description / Examples
appraisals

Typically used in professional or business settings where a formal evaluation of performance, property, or work is needed.

  • The annual appraisals will take place next month.
  • The appraisal report helped determine the value of the property.
valuation

Commonly used in financial or real estate contexts to determine the monetary worth of an asset or property.

  • The house was put up for sale after a valuation was done.
  • We need a valuation of the company's assets before selling it.
assessment

General term often used in educational, medical, or evaluation contexts to describe the process of measuring or judging something.

  • The teacher carried out an assessment of the students' progress.
  • The doctor ordered a psychological assessment for the patient.
estimate

Used when giving an approximate calculation or judgment, typically regarding costs, time, or quantities.

  • He gave an estimate of how much the repairs would cost.
  • Her estimate was that the project would take about three weeks.

Examples of usage

  • The bank requested an appraisal of the house before approving the mortgage.
  • The real estate agent conducted an appraisal to determine the property's market value.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Real Estate

  • Appraisals are crucial in real estate transactions, helping buyers, sellers, and lenders understand property value.
  • There are several methods for appraising property, including the sales comparison approach and the cost approach.
  • Appraisers often look at location, property upgrades, and recent sales in the area to determine value.

Workplace Evaluations

  • In workplaces, appraisals assess employee performance and are often linked to promotions and raises.
  • Regular appraisals can help identify employee strengths and areas for development.
  • Feedback from appraisals can significantly impact job satisfaction and employee engagement.

Art and Collectibles

  • Art appraisals help determine the value of paintings and sculptures for sale or insurance purposes.
  • Specialized knowledge in art history or market trends is often required for accurate appraisals.
  • Famous appraisals, such as works by Picasso or Van Gogh, can reach millions, reflecting the art market's variability.

Cultural Practices

  • Different cultures may have varied approaches to appraisals, particularly concerning family heirlooms and antiques.
  • In some cultures, personal histories or stories behind items enhance their perceived value during appraisals.
  • Cultural heritage appraisals can help preserve and promote local arts and artifacts.

Origin of 'appraisals'

Main points about word origin

  • Originates from the Latin word 'appraheare,' which means 'to value or estimate.'
  • The term was first used in English in the 14th century, highlighting its long-standing role in trade and commerce.
  • In legal contexts, the term emphasizes the formal process of determining property value.

The word 'appraisal' originated from the Old French word 'aprisier,' meaning to set a value on. It has been used in English since the late 14th century. Initially used in the context of valuing property, the term expanded to include performance evaluations in the workplace in the 19th century.

Word Frequency Rank

With rank #15,467, this word belongs to specialized vocabulary. While not common in everyday speech, it enriches your ability to express complex ideas.