How do I become an
appraiser?
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The process of becoming
an appraiser differs according to the various appraisal disciplines.
Most appraisers are required to have a certain number of hours
of education and experience. In addition, if an appraiser wishes
to become state licensed or certified in real property they
must also pass a comprehensive examination. |
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Do I need a college
degree to become an appraiser?
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Appraisal education in
the United States has typically been provided by professional
organizations. Accordingly, at present time it is not necessary
to have a college degree in order to become an appraiser. Many
appraisers choose to receive training through traditional methods,
such as through professional appraisal organizations. It should
be noted that some of these associations require a college
degree for their advanced designations. On an increasing basis,
appraisers are supplementing their education through courses
at the community college or university level. |
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What skills are
required to become an appraiser?
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All appraisers must have
good:
-analytical skills
-skills working with numbers.
-customer service skills.
Appraisers spend much time interacting with clients.
-communication skills, both verbally and written.
Appraisers and write reports, and share finding with clients, so good communications
skills are a must.
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What are the
minimum qualifications I need in order to become a state licensed
or certified appraiser?
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The qualifications are
set by the Appraiser Qualifications Board of The Appraisal
Foundation and cover education, experience, examination and
continuing education. For example, to become a state licensed
appraiser, you will need at least 90 hours of classroom instruction,
2000 hours of experience, pass the state appraiser examination
and complete 14 hours of continuing education annually. The
minimum qualifications for all three categories (State Licensed,
State Certified Residential and State Certified General) are
contained in a publication entitled "Real
Property Appraiser Qualification Criteria and Interpretations" |
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May I appraise any
type of real property once I become state licensed?
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Generally,
real property appraisers can obtain one of three types of
credentials issued by a state. Each credential allows an
appraiser to perform assignments within the following parameters:
State Licensed Appraise: may
appraise non-complex 1-4 residential properties up to $1
million and commercial properties up to $250,000.State
Certified Residential: may
appraise all 1-4 unit residential properties and commercial
properties up to $250,000.
State Certified General: may
appraise all types of real property.
Although a license/certification might
be obtained, competency in a specific field of expertise
is needed. Certain state
appraiser regulatory boards may
have laws that differ from these (AQB) qualification criteria.
All appraisers should consult their state laws prior to accepting
certain appraisal assignments. |
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How can I
gain the necessary experience?
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One of the best ways to gain
experience is to serve in an apprentice or trainee capacity with
a state licensed or certified appraiser. Many states offer a
trainee classification that formalizes the relationship between
the state licensed or certified appraiser and someone who is
wishing to become one. Professional appraisal organizations may
also be helpful in assisting with mentor programs. |
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What do I have
to do to qualify to sit for the examination?
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In order to qualify to take the
state examination, you must have completed your qualifying education
classroom hour requirement. |
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How long is the
examination?
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Depending on the classification
you are seeking to obtain, the examination is between 100 and
125 questions and takes approximately one to three hours |
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Do appraisers
have to follow any set of performance standards or guidelines?
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The Uniform Standards of
Professional Appraisal Practice (USPAP), which is promulgated
by the Appraisal Standards Board of The Appraisal Foundation,
are the generally recognized performance standards for the
appraisal profession. Violation of these standards can lead
to disciplinary action by government regulators and appraisal
organizations. |
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Does the federal
government regulate appraisers?
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Currently, the government
regulates only real property appraisers. The power of regulation
currently rests with the individual states and territories
that issue licenses and certificates to real property appraisers.
In addition, each individual State Real Property Appraisal
Board is responsible for disciplining appraisers. At this time,
there are no immediate plans for the regulation of appraisers
who specialize in other forms of property. |
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What is the demand
for qualified appraisers?
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There is a wide array of
clients that use appraisals such as lenders, insurance companies,
attorneys, governments, museums and tax assessors. |
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How to I obtain trainee
experience?
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Trainee experience can
be gained by aligning yourself with a professional, established
appraiser as an apprentice as a trainee. Many appraisers work
as an apprentice while completing the required education. For
real property appraisers, many states have formal trainee programs. |
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