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APPRAISER EDUCATIONAL REQUIREMENTS


APPRAISAL RESIDENTIAL COURSES
The overall objective of the residential appraisal series is to arrive at an understanding of the appraiser's role and to better understand the qualifications and uniform standards of professional practice that help to ensure a reliable appraisal. The scope of this series examines fundamentals essential to the appraisal process. Included are considerations of basic value principles, data collection, site valuation, the three recognized approaches to determining value, reconciliation and methods of completion of the appraisal report. In addition to appraisal theory, included are applied practices using appraisal related math and statistics as well as opportunities for actual site visits and completion of standardized appraisal report forms.

APPRAISAL GENERAL
The overall objective of the general series is to arrive at an understanding of the valuation process of income producing investments, and can be further described as the appraisal of non-residential property with income producing potential. The scope of this series examines the valuation of a class of property customarily lacking adequate and ample documentation of sales, with a primary focus on the income approach to value, together with an understanding of how investors attempt to forecast income and analyze investment potential. Included in this process are the considerations of dynamic market conditions, highest and best use, area and neighborhood, site and improvements, and the effects and implications of existing leases and mortgages remaining on the property.

 



Effective Januray 1, 2015:
Appraiser license/certification candidates must satisfy the educational requirements by completing the prescribed courses indicated for each classification as follows:

Please Note:
Applicant is not eligible to take the exam for the category in which education has been completed until they meet the experience requirement for that category. Exam results are valid for 24 months only.

Appraiser Assistant (154 Hour Minimum)
Basic Appraisal Principles (R-5) - 30 Hours
Basic Appraisal Procedures (R-6) - 30 Hours
Residential Market Analysis & Highest and Best Use (R-7) - 15 Hours
Residential Site Valuation & Cost Approach (R-8) - 15 Hours
Residential Sales Comparison & Income Approach (R-9) - 30 Hours

Residential Report Writing & Case Studies (R-10) - 15 Hours
15 Hour NUSPAP Course (NUSPAP) - 15 Hours
Supervisory Appraiser/Trainee Appraiser Course (ST)- 4 Hours

Experience: None Required
Exam: None Required
 

State Licensed Residential Real Estate Appraiser (154 Hours)
Education: (154 Hours) plus Associate's Degree or higher in any field or 20 semester credit hours from an accredited college, junior college, community college or university.

Basic Appraisal Principles (R-5) - 30 Hours
Basic Appraisal Procedures (R-6) - 30 Hours
Residential Market Analysis & Highest and Best Use (R-7) - 15 Hours
Residential Site Valuation & Cost Approach (R-8) - 15 Hours
Residential Sales Comparison & Income Approach (R-9) - 30 Hours

Residential Report Writing & Case Studies (R-10) - 15 Hours
15 Hour NUSPAP Course (NUSPAP) - 15 Hours
Supervisory Appraiser/Trainee Appraiser Course (ST)- 4 Hours

Experience:2,000 hours in no less than 24 months
Exam: National Uniform Licensing and Certification Examination

State Certified Residential Real Estate Appraiser (200 Hours)
Education:
(200 Hours) plus Bachelor's Degree or higher in any field.

Basic Appraisal Principles (R-5) - 30 Hours
Basic Appraisal Procedures (R-6) - 30 Hours
Residential Market Analysis & Highest and Best Use (R-7) - 15 Hours
Residential Site Valuation & Cost Approach (R-8) - 15 Hours
Residential Sales Comparison & Income Approach (R-9) - 30 Hours

Residential Report Writing & Case Studies (R-10) - 15 Hours
15 Hour NUSPAP Course (NUSPAP) - 15 Hours
Advanced Residential Applications & Case Studies (R-11) - 15 Hours
Statistics Modeling & Finance (SMF) - 15 Hours
and one Residential Elective
Introduction to Residential Income Properties (RE-1) - 20 Hours
or
Fair Housing/Fair Lending and Environmental Issues (RE-2) - 20 Hours

Experience: 2,500 Hours in no less than 24 months
Exam: National Uniform Licensing and Certification Examination

State Certified General Real Estate Appraiser (300 Hours)
Education: (300 Hours) plus Bachelor's Degree or higher in any field

Basic Appraisal Principles (R-5) - 30 Hours
Basic Appraisal Procedures (R-6) - 30 Hours
General Market Analysis & Highest and Best Use (G-4) - 30 Hours
General Sales Comparison Approach (G-5) - 30 Hours
General Site Valuation & Cost Approach (G-6) - 30 Hours

General Income Approach (G-7) - 60 Hours
General Report Writing & Case Studies (G-8) - 30 Hours
15 Hour NUSPAP Course (NUSPAP) - 15 Hours15 Hour NUSPAP Course (NUSPAP) - 15 Hours
Supervisory Appraiser/Trainee Appraiser Course (ST)- 4 Hours
Statistics Modeling & Finance (SMF) - 15 Hours
and two General Electives
Fair Housing/Fair Lending and Environmental Issues (GE-1) - 15 Hours (Mandatory)
and
Specialty Appraisals (GE-2) - 15 Hours
or
Using the HP12C Financial Calculator (GE-3) - 15 Hours

Experience: 3,000 Hours in no less than 30 months
Exam: National Uniform Licensing and Certification Examination


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