The Estonian Association of Appraisers (EAA) was established as a non-profit organisation on 5 May 1995. This more than two decades existence gave a good foundation for analyze of real estate appraisal situation in the one of newly independent state. The time scale of procedure itself is possible to divide into deferent segments that are describing the political or economic development of state. Analyze includes the role of EAA and its position on different markets and submarkets linked with real estate. It is important to underline that EAA’s and professional appraiser’s activities are strongly connected with development of valuation standards from the first edition of IVS in 1994 on the one hand. On the other hand, the system of authorization of real estate appraisers and based on it Professions Act blueprint linked with the EU requirements, are the most important markers for describing the situation. Last but not least, the contemporary drivers are the valuation companies based implementation of ISO 9001 principles together with the third party insurance and as well the EU directives or decrees according the housing loan policy. The lastly named serve as basic challenge attributes for the next decade.