How to Become a Real Estate Appraiser

This article is part of a larger series on How to Become a real Estate Agent. Kaylee specializes in real estate of the realm, B2B, and SaaS companies. You can find her expertness in sales and real estate of the realm subject on Fit Small Business. Gina is a license real estate salesperson, experienced trainer, and former high school educator of 1,000+ learners. She writes for Fit Small Business with a concentrate on real estate contented. real estate appraisers estimate the market prize of commercial and residential properties. The requirements for how to become a real number estate appraiser disagree by state, but by and large require you to complete prelicensing courses, acquire industry experience, and pass an examination. We ’ ve assembled this bit-by-bit guide, with state-specific information and documents, to help you learn how to become a real estate appraiser.

1. Get a Trainee License by Completing Coursework

To become a real estate appraiser, you must first become a substantial estate of the realm appraisal trainee. That means you need to complete and pass specific coursework that provides a solid foundation in real number estate of the realm appraisal. The Appraiser Qualifications Board ( AQB ) sets national path requirements ; however, some states require extra coursework. The appraisal diligence is regulated differently in each state, but all require you to start your career as a trainee appraiser .

National

To become an appraisal trainee, the AQB requires you to complete a total of 75 credit hours of educational content from an approved supplier. The compulsory core course of study coursework, which can not be substituted by experience, is broken out as follows :

  • Basic Appraisal Principles (30 hours): This course introduces aspiring appraisers to basic real property concepts, legal considerations, real estate finance, economic principles, and appraisal ethics.
  • Basic Appraisal Procedures (30 hours): The procedures course teaches students about the actual valuation process, including the three traditional approaches to value—cost approach, sales comparison approach, and income approach—and how to collect data, describe the subject property, and communicate appraisal results.
  • National Uniform Standards of Professional Appraisal Practice (USPAP) (15 hours): The USPAP 15-hour course sets forth industry requirements for ethical behavior and competent performance as described in the USPAP.

You don ’ t have to meet these hours all at once as train providers, like Hondros College, let you enroll in individual courses. however, bundled classes typically price less. Although these classes are required, they are besides a good mind as they teach you how to provide an aim estimate of the value of a property for tax, mortgage, indemnity, and other purposes. class formats, hours, and locations vary among providers, but you can expect to pay from $ 500 to $ 1,400 for an approve license course .

Did you know? While the coursework is an upfront expense, it is worth noting that license real estate appraisers made an average of $ 69,000 to $ 88,000 in 2020, depending on their experience, certifications, and number of hours worked. Plus, the U.S. Bureau of Labor Statistics expects the demand for appraisers to continue growing by 7 % over the following ten .

State

In addition to the home course requirements, some states require extra classroom time to become an appraiser trainee. These states still require the 15-hour USPAP trainee class ampere well as their state-specific requirements .
here ’ s a agile breakdown of the prelicensing coursework hours required in each country :
Prelicensing Coursework Hours Requirement Per State
Learn more about your department of state ’ s requirements by visiting the country licensing board web site or by visiting an on-line training provider ’ second web site. You can find out more about the best programs in our article on the best on-line real estate coach providers .

2. Complete Appraiser Fieldwork Experience Hours

After becoming an appraiser trainee, you must start working under the rigid mentorship of a accredited very estate appraiser. Before moving on to the next level of appraiser license, you must complete somewhere from 1,000 to 2,500 hours of supervised work within about six months. See the requirements for your state of matter below :
Appraiser Fieldwork Experience Hours Requirement
trainee appraisers can frequently find positions at residential appraisal firms and banks. These organizations by and large have the greatest necessitate for real estate appraisal services, although getting a position as a real estate appraisal trainee can be challenging. Places like the american Society of Appraisers speculate bank or indeed can besides be capital resources for finding a position. just be surely you work under a certify appraiser and keep track of the hours you work .

Pro tip: Certified residential appraiser Doug Haderie gave a great tiptoe for those fair starting out : “ Go to the department of state board web site and mark out every appraiser within a 10-mile spoke, and just start calling them. ” Haderie stated that he printed out about 40 pages of information but didn ’ deoxythymidine monophosphate get down to the bottom of the second page before he had a lead for a job that ended up becoming his beginning step in very estate appraisal .

3. Pass Your State’s Appraiser Licensing Exam

once you ’ ve fulfilled your express ’ sulfur required hours of workplace experience, you can register for the real estate of the realm appraiser examination. The accredited Residential examination consists of 110 questions and must be completed within a four-hour period. Depending on your country and placement, your examination may be administered via one of these appraiser licensing examination providers :
You ’ ll have to search each web site to find the very estate of the realm appraiser examination agenda in your area. There will be an examination tip at the time of registration, which varies depending on your state. When it ’ mho prison term for your examination, make indisputable you take two forms of government-issued recognition.

Since the national first-time bye rate for the license Residential examination is 57 %, it ’ s improbable that you ’ ll be able to pass your examination without good effort and focus to learn the material. To maximize your ability to pass the examination the beginning time, use CompuCram ’ randomness Real Estate Appraisal Exam Prep path. You ’ ll get a money-back pass guarantee, six months of access, and interactional study tools that will give you wide confidence on test day .
Try CompuCram

4. Submit Your Appraiser License Application

After completing your work experience and passing your examination, you will submit a license application to your state ’ s board of real estate appraisers. State application requirements vary, but generally include setting information, attest of course completion, employment history, and an experience report .
once your license is approved, you can begin working as a real estate of the realm appraiser with limitations on what types of property you can appraise. As a license residential appraiser, you can only appraise non-complex, one- to four-unit residential properties worth less than $ 1 million and complex, one- to four-unit residential properties worth less than $ 250,000 .
For a review of your state ’ mho requirements deoxyadenosine monophosphate well as the application documents needed to apply for a real estate appraiser license/certification, choose your state from the drop-down :

5. Find Work as a Licensed Real Estate Appraiser

To find work as a license real estate appraiser, you can search for caper openings on websites like indeed. In the beginning few years of your career, you ’ ll probably oeuvre for a bank or individual appraisal company. however, according to the United States Bureau of Labor Statistics ( BLS ), employment for real estate appraisers is expected to continue growing over the future 10 years .

Did you know : The BLS reported that there were more than 55,000 real estate appraiser jobs in 2020 with a project growth rate of 3 % from 2019 to 2029 .
To appraise actual estate of the realm accurately, you ’ ll indigence access to a multiple list service ( MLS ) to inquiry closed and current properties for sale. To gain access to an MLS, you can join the National Association of Realtors ( NAR ) for alone $ 150 per year. Depending on your firm, this price may be covered by your employer .

6. Upgrade Your License

After working as a accredited residential appraiser for a few years, you may want to upgrade your license. There are two types of real number estate of the realm appraiser license upgrades : Certified Residential Appraiser and Certified General Appraiser .
Certified residential appraisers can appraise larger, more valuable residential properties, while certified general appraisers can appraise all types of veridical property. Consider upgrading your license if you want to expand your business to larger residential or commercial properties .
When upgrading your license, keep in judgment that some states require appraiser trainees to complete final preparatory coursework or degree programs, such as an associate degree degree or college-level courses. Although this has not been a national prerequisite from the AQB since May 2018, some states have kept the requirement or ask for extra coursework. For exercise, New York requires applicants to complete 30 semester hours of relevant college-level education or hold an associate degree or higher .
Appraiser License Upgrade Requirements

Benefits of Becoming a Certified Residential Appraiser

The main benefit of upgrading your license to certified residential appraiser is that you can appraise properties valued at over $ 1 million. To do so, you ’ ll have to meet national and state requirements for appraisal coursework, know, and college-level education. once certified, you ’ ll be more marketable, because many banks prefer to work with certifiable residential appraisers than licensed residential appraisers .
To become a certify residential appraiser, meet the following extra requirements :

  • Coursework: Certified residential appraisers are required to complete 200-plus hours of AQB-approved appraisal coursework, including previous coursework.
  • Experience: Certified residential appraisers must have at least 1,500 hours of experience working as an appraiser or appraisal trainee in no less than 12 months.
  • Education: Certified residential appraisers must have a bachelor’s degree, an associate degree, or complete 30 hours of college-level courses, or a combination thereof as summarized by The Appraisal Foundation. Contact your state’s agency to see how they are adopting new standards and what is required of you to meet them.

As a certified residential appraiser, you can appraise one- to four-unit residential buildings of any complexity or value. You may besides appraise vacant or unimproved domain that is use or best suited for one to four residential units. To appraise vacant or unimproved bring suited for more than four residential units, you ’ ll need extra certifications .

Benefits of Becoming a Certified General Appraiser

appraisal professionals can besides become license general appraisers. As a certify general appraiser, there are no limitations on the character of real place you can appraise. To attain this certification, the AQB requires a minimum of 300 hours of qualifying education and a knight bachelor ’ randomness degree or higher. Professionals must besides complete a minimum of 3,000 hours of fieldwork in no fewer than 30 months, including at least 1,500 hours of nonresidential experience .
If you ’ re looking for a different career in the real estate industry, read how to become a real estate of the realm agentive role and learn about the best accredit actual estate of the realm schools .

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