Complete and pass 75 hours of basic appraisal education, which includes three courses:
- Basic Appraisal Principles 30 hours
- Basic Appraisal Procedures 30 hours
- 15-hour Universal Standards of Professional Appraisal Practice (USPAP) 15 hours
The Trainee Appraiser level does not have an experience requirement. Each Trainee Appraiser must be supervised to get the required hours of experience before applying for the Licensed Residential Appraiser level. Locating a certified appraiser is a very important step to becoming an appraiser. The trainee and supervisory appraiser must keep a log of work completed that will be reviewed when the trainee applies for any license to the state regulatory body.
You are not required to pass an exam to become a Trainee Appraiser on the national level; however, some states do require it. To find your state’s requirements, visit the Appraisal Subcommittee website.
The national criteria do not require a license, so application is not mandated. However, check with your state to see if they have additional requirements for this level.
Step 2: Become a Licensed Residential Appraiser
Once you become a Licensed Appraiser, you will be able to perform appraisals on your own. At the Licensed Appraiser level, you can appraise non-complex, one- to four-unit residential properties less than $1,000,000 and complex one- to four-unit residential properties with a transactional value of less than $250,000 in market value. Once you complete the criteria below, you can apply to become a Licensed Appraiser.
You must complete a total of 150 hours of education. The 150 hours includes the 75 hours required for the trainee level and four additional courses:
- Residential Market Analysis and Highest and Best Use 15 hours
- Residential Appraiser Site Valuation and Cost Approach 15 hours
- Residential Sales Comparison and Income Approaches 30 hours
- Residential Report Writing and Case Studies 15 hours
On February 1, 2018, the AQB adopted new experience requirements to become a Licensed or Certified Appraiser. The requirements are effective May 1, 2018 in states that choose to adopt these criteria. States can opt to keep the old criteria as these are more stringent than the new requirements. You are required to complete 1,000 hours of experience in no less than 6 months. These hours must be directly supervised by an acceptable supervisory appraiser. Appraisers are required to maintain a log jointly with the supervisory appraiser. This announcement has all the details.
The Appraisal Qualifications Board (AQB)-approved Licensed Residential Real Property Appraiser examination must be successfully completed. All education and experience hours must be completed prior to taking the national exam.
Effective May 1, 2018, the AQB has removed the degree requirement for Licensed Residential Appraiser credential. States may adopt more stringent requirements, so applicants should check with their state for additional information.
Once all of the requirements are completed and documented, you can submit an application to the appropriate state board. Be sure to check with the state for specific requirements for application for a license. To find your state licensing board, visit the Appraisal Subcommittee website.