How to Become an Appraiser . . .
Certified GeneralReal Estate Appraiser – License Requirements
College Level
Applicants for the Certified Generalcredential must hold a Bachelor’s Degree, or higher, from an accredited college or university.
Qualifying Education – specialized appraisal courses
The prerequisite for application for a license is 300 hours of qualifying education (QE). A final exam must be passed when a course is completed.
The required courses are:
- Basic Appraisal Principles – This is a 30 hour credit course. It provides an introduction to real estate concepts and characteristics, legal aspects of property, influences on real estate values, types of value, economic principles and real estate markets.
- Basic Appraisal Procedures – Also a 30 hour credit course. It covers the process of completing an appraisal, particularly the three approaches to valuing real estate, plus how to report the results of an appraisal.
- 15-Hour National USPAP – The Uniform Standards of Professional Appraisal Practice course. It focuses on the requirements for ethical behavior and competent performance by appraisers. USPAP requirements are incorporated into state licensing law, which makes the standards a legal obligation for all appraisers.
- General AppraiserMarket Analysis and Highest and Best Use – 30 hours QE credit
- Statistics, Modeling and Finance – 15 hours QE credit
- GeneralAppraiser Sales Comparison Approach -30 hours QE credit
- GeneralAppraiser Site Valuation and Cost ApproachApproaches – 30 hours QE credit
- General Appraiser Income Approach– 60 hours QE credit
- General Appraiser Report Writingand Case Studies – 30hours QE credit
- Appraisal Subject Matter Electives – 30 hours QE credit
Qualifying Experience
The Certified Residential Appraiser applicant must complete three thousand (3,000) hours of qualifying experience obtained in no fewer than eighteen (18) months. The experience must include a minimum of one thousand five hundred (1,500) hours of non-residential appraisal work.
Examination
Successful completion of the AQB-approved Certified GeneralReal Property Appraiser examination.
To view the Real Property Appraiser Qualification Criteria and Interpretations of the Criteria, click the link: AQB Qualifications Criteria 2018.