Appraiser Requirement

s

Changes to the rules

AQB stands for Appraiser Qualification Board. It is an independent board of

The Appraisal Foundation and charged with establishing the core minimum

requirements to become an appraiser.

What is the AQB?

Requirement Changes

On January 1, 2015, the requirements for becoming an appraiser will become more stringent. Much of the changes have to do

with the educational requirements involved in ascending to more advanced

categories of appraiser-ship.

This slideshow will outline these changes by first discussing things that haven’t changed in order to attain the different

appraiser levels followed by the requirements that have changed.

Basic Appraisal Principals – 30 hours

Basic Appraisal Procedures – 30 hours

Uniform Standards of Professional Appraisal Practice (USPAP) – 15 hours

Trainee RequirementsEducation

The Beginnin

g

Trainee Experience and Exams

Experience – There is no prerequisite experience necessary in becoming a Trainee Appraiser.

Examination – There is no examination requirement for becoming a Trainee Appraiser. However, there are examinations associated with each of the Core Curriculum courses detailed above.

Licensed Residential Real Estate Appraiser

Education Requirements Residential Market

Analysis and Highest and Best Use – 15 hoursResidential Appraiser Site Valuation and Cost Approach – 15 hoursResidential Sales Comparison and Income Approaches – 30 hoursResidential Report Writing and Case Studies – 15 hours

Licensed Residential Real Estate Appraiser

Experience – 2,000 hours of experience are required for this designation. These experience hours must be completed in no fewer than 12 months.Examination – There is an examination required in order to obtain this level of license. The only way to bypass this exam is to qualify for and pass the Certified Residential Appraiser or Certified General Appraiser Exam instead.

Licensed Residential Real Estate Appraiser

30 semester credit hours of college-level

education from an accredited

college, junior college,

community college, or

university OR an associated degree or higher in any

field.

•New requirement as of January 1, 2015

Certified Residential

Statistics, Modeling and Finance – 15 HoursAdvanced Residential Applications and Case Studies - 15 HoursAppraisal Subject Matter Electives – 20 Hours

Education Requirements

Certified ResidentialExperience and Examinations

Experience - 2,500 accumulated hours of experience are required for this designation. These experience hours must be completed in no fewer than 24 months.

Examination - There is an examination required in order to obtain this level of license. The only way to bypass this exam is to qualify for and pass the Certified General Appraiser Exam instead.

Certified Residential

As of January 1, 2015, you will need a bachelor’s degree or higher (in any field) from an accredited college or University.

Prior to this time, only 21 semester hours in specified subject areas were necessary.

Collegiate Coursework

Certified GeneralEducation Requirements

General Appraiser Market Analysis and Highest and Best Use - 15 HoursGeneral Appraiser Sales Comparison Approach - 15 HoursGeneral Appraiser Site Valuation and Cost Approach - 15 HoursGeneral Appraiser Income Approach – 45 HoursGeneral Appraiser Report Writing and Case Studies - 10 Hours

Certified GeneralExperience - 3,000 of accumulated hours (1,500 hours in non-residential appraisal work) of experience are required for this designation. These experience hours must be completed in no fewer than 30 months.

Examination - There is an examination required in order to obtain the Certified General Appraiser designation. There is no alternative to taking this exam.

Experience and Examinations

Certified GeneralCollegiate Coursework

As of January 1, 2015, you will need a bachelor’s degree or higher (in any field) from an accredited college or University.

Prior to this time, only 30 semester hours in specified subject areas were necessary.

More AQB ChangesEducation and experience must be completed prior to taking the AQB-approved National Uniform Licensing and Certification Examination.

All candidates for a real property appraiser credential must undergo background screening. State appraiser regulatory agencies are strongly encouraged to perform background checks on existing credential holders as well.

Credit towards qualifying education requirements may be obtained via the completion of a degree program in Real Estate from an accredited degree-granting college or university provided the college or university has had its curriculum reviewed and approved by the AQB.

States had the option to implement the 2008 Real Property Appraiser Qualification Criteria via the “segmented approach.” This implementation option will no longer be valid effective January 1, 2015.

States had the option to implement the 2008 Real Property Appraiser Qualification Criteria via the “segmented approach.” This implementation option will no longer be valid effective January 1, 2015.

A written, proctored examination is required for all qualifying education distance course offerings. The term written refers to an examination that might be written on paper or administered electronically on a computer workstation or other device.

Added topics on green building (qualifying and continuing education), seller concessions (qualifying and continuing education) and developing opinions of real property value in appraisals that also include personal property and/or business value (continuing education only).

National Uniform Licensing and Certification Exams

Background Checks

College Degree Acceptance and Core Curriculum Requirements

Deletion of the Segmented Approach to Criteria Implementation

Restriction on Continuing Education Course Offerings

Distance Education Requirements

Revisions to Subtopics in Guide Note 1 (GN-1) and Continuing Education Topics

A Word From Your Sponsor

The information for this slideshow was assembled from various articles on my site and information directly from The Appraisal Foundation. If you like what you see and want to learn more about becoming a real estate appraiser, visit my site: Howtobecomeanappraiser.com for a more in-depth view of the appraisal profession. And while you are at it, leave a comment and let us know what you think or ask a question if you can’t find the answer on the site. We’d love to hear from you.

Images from freedigitalphotos.net and Howtobecomeanappraiser.com