Are you considering becoming a Real Estate Appraiser? If so or are just thinking about it, you will need to do the following steps in order to get there.
Step 1: Check Your State’s Requirements
Each state has their own Appraisal Regulatory Board that administers and regulates the licensing and certification of appraisers.
For the most part, the pre-requisites should be fairly uniform as they are set by the Appraisal Qualifications Board or AQB of the Appraisal Foundation.
As of January 1, 2008, to become a licensed residential appraiser you will need:
2,000 experience hours
90 education hours
pass the exam
To become a Certified Residential Appraiser, you will need;
2,500 experience hours
120 education hours
pass the exam
To become a Certified General Appraisal, you will need:
3,000 experience hours
180 education hours
pass the exam
Step 2: Take the Required College Courses
The new requirements as of January 1, 2008, to become a Certified Residential Appraiser can be met with either an Associates Degree or higher in any field of study or you can take 21 hours in specific fields.
To become a Certified General Appraiser you will need a Bachelors Degree or higher in any field or 30 hours in predetermined fields of study including:
English Composition
Principles of Economics (Micro or Macro)
Finance
Algebra, Geometry, or higher mathematics
Statistics
Various Computer Courses
Business or Real Estate Law
Step 3: Take Required Appraisal Courses
On top of the required college coursework, you will also be required to complete a core curriculum in appraisal courses in the following modules:
Basic Appraisal Principles
Basic Appraisal Procedures
Residential Market Analysis
Highest and Best Use
National USPAP Course
Some places will teach you principles you will need to be successful in your career. Others will simply take your money and teach you how to pass the state test. Both are important, but learning the principles properly will be better for you in the long run. Keep this in mind when searching for your appraisal school.
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