How To Become A Certified Residential Real Estate Appraiser

Did you know the employment rate for a real estate appraiser has doubled overall in recent times? Not only that, but it is expected to increase by 3% between 2019-2029! This means real estate appraiser is one of the most sought out jobs. Are you interested in this career? Are you tired of sitting behind the desk all day? If so, you probably wish to do something out in the world.

In that case, keep reading! With our easy-to-understand guide, you’ll know exactly how to get into this career line. Let’s jump right in.

Step # 1: Becoming A Trainee Appraiser
To become a certified appraiser, you first have to become a trainee appraiser. Once you’ve gone through the process of being a trainee and legally allowed to do appraisals, you may move onto step 2.

Let’s first talk about step 1; becoming a trainee appraiser, otherwise known as apprentice appraiser, registered appraiser. It mainly depends on your state laws; your state may not even require this step! So, it’s always a good idea to check beforehand.

Required Education
To become a trainee appraiser, you are required to have a certain education. It includes 79 course hours divided into four parts:

1. Learning basic appraisal principles for 30 hours
2. Learning basic appraisal procedures for 30 hours
3. Learning Universal Standards Of Professional Appraisal Practice (USPAP) for 15 hours
4. And lastly, attending a supervisory and trainee class for 4 hours

While this is true for most states, not all US states require you to go through the same 79 hours of education, states like New York and California require at least 150 hours, whereas North Carolina, Tennessee, Kentucky, and Georgia require a minimum of 90 hours. Moreover, Florida asks for 100 hours and Colorado a 110.

Experience You Need
Since we’re talking about a trainee appraiser, you’re not going to need any prior experience. What you do need, however, is 1,000 hours of supervised appraisal work.

You will need to keep a log of work that you complete because when you apply for certification to be a residential real estate appraiser, the administrator will need to review it.

Examinations To Pass
Luckily, a trainee appraiser does not need to give any exams. At least not on national criteria; there’s always a chance your state may require one. So we recommend you review your state laws.

Do I Need An Application?
Here too, you need to research your state laws to find out whether you need an application or not. The national level does not require one, but your state may.

Step 2: Becoming A Licensed Real Estate Appraiser
Now that you’ve earned yourself a trainee real estate certification, it’s time to move onto the focus of this article. How do you become a licensed real estate appraiser?

For that, you need to do as follows;

Required Education
To become a licensed real estate appraiser, you need to complete the following education:

1. Learning statistics, modeling, and finance for 15 hours
2. Learning residential applications and case studies for 15 hours
3. Lastly, learning the ‘appraisal subject matter electives course’ for 20 hours

Moreover, you need a total of 200 hours of education. It includes the above three courses and the education you receive for becoming a trainee appraiser.

Experience You Need
Since the 1st of February, 2018, the ABQ requires certified appraisers to have a minimum of 1,500 hours of experience in 12 months. These hours include the 1,000 when being supervised during your trainee appraisal period.

Here the state laws step in. Your state may either require you to follow this or not, depending on whether they follow it themselves.

Examinations To Pass
No study is ever really finished without fretting over exams. And this is no different!

Here once you’ve taken the course classes, you’ll have to take a national exam. It includes a combination of appraisal math, types of values, a variety of real estate markets, statistics, and so on.

Moreover, passing the exam is a must before you submit your application.

Degree Requirements
As above, the ABQ made several changes in 2018. The national level no longer requires specific degrees. However, several states may ask for the following:

• A bachelor’s degree, regardless of whatever field you may have chosen.
• An associate’s degree in either business administration, accounting, finance, real estate, or economics.
• Complete 30 hours each semester of college courses. It should include a minimum of 3 hours in English composition, economics, mathematics, statistics, computer science, finance, business, or real estate. Plus two elective courses like geography, agricultural economics, business management, real estate, or accounting.
• Plus, completing 30 semester hours of CLEP examinations. It includes 3 hours each of college algebra, composition modular, economics, introductory business law, and information systems – moreover, 6 hours each in college composition and college mathematics.

Do I Need An Application?
Once you’ve complied with and ticked off the requirements, it’s time to close the process. Now what you need to do is submit your license application to your state board.

Be sure to check out what specifications your state asks for when applying. Visit the Appraisal Subcommittee website to find relevant state laws. As you gain experience in the field, apply to become an appraiser with AmeriMac, we look forward to working with you.