LeMay School of Real Estate's
Real Estate Appraiser Qualifications Guide
(as of 3/23/15)

Student Appraisers, trainees, and instructors sometimes have a hard time remembering what the different kinds of licensing/certification allow, and exactly what is required to become a Licensed or Certified Real Estate Appraiser. Here is a summary of what is needed to become a federally certified or licensed Real Estate Appraiser according to the Appraisal Foundation. The table summarizes the differences between licensed and certified appraisers, and lists the minimum qualifications to become a licensed or certified appraiser. Your state may have other, additional requirements, but most follow these guidelines. Other stuff you should know...

General Requirements

Licensure level Trainee Licensed Residential Certified Residential Certified General
Permitted fields of work May appraise all types of real property under supervision of a certified appraiser in good standing, as long as the supervising appraiser is qualified to perform the appraisal assignment. May appraise non-complex 1-4 family residential properties worth  $1,000,000 or less and complex 1-4 family residential properties worth $250,000 or less. May not appraise subdivisions if development analysis is needed. May appraise 1-4 family residential property without regard to value or complexity. May not appraise subdivisions if development analysis is needed. May appraise all type of real property.
Minimum Experience hours none 2,000 hours obtained in no fewer than 18 months 2,500 hours obtained in no fewer than 24 months 3,000 hours, 1,500 of which must be non-residential appraisal work (ie, properties exceeding scope allowed under residential licensure or certification) obtained in no fewer than 30 months
Post-Secondary Education none an associates degree or higher or
30 semester credit hours of college level education from a college, junior college, community college, or university accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the U.S. Secretary of Education.		 Bachelors (4-year) degree or higher Bachelors (4-year) degree or higher
Pass National Exam No Yes Yes Yes


Real Estate Appraisal Education Requirements

Licensure level Trainee Licensed Residential Certified Residential Certified General
Required Education 75 hours total 150 hours total 200 hours total 300 hours total
  Basic Appraisal Principles
30 hours		 Basic Appraisal Principles
30 hours		 Basic Appraisal Principles
30 hours		 Basic Appraisal Principles
30 hours
  Basic Appraisal Procedures
30 hours		 Basic Appraisal Procedures
30 hours		 Basic Appraisal Procedures
30 hours		 Basic Appraisal Procedures
30 hours
  2-day, USPAP
15 hours		 2-day, USPAP
15 hours		 2-day, USPAP
15 hours		 2-day, USPAP
15 hours
    Residential Market Analysis and Highest and Best Use
15 hours		 Residential Market Analysis and Highest and Best Use
15 hours		 General Appraiser Market Analysis and Highest and Best Use
30 hours
    Residential Appraiser Site Valuation and Cost Approach
15 hours		 Residential Appraiser Site Valuation and Cost Approach
15 hours		 General Appraiser Site Valuation and Cost Approach
30 hours
    Residential Sales Comparison and Income Approaches
30 hours		 Residential Sales Comparison and Income Approaches
30 hours		 General Appraiser Sales Comparison Approach
30 hours
    Residential Report Writing and Case Studies
15 hours		 Residential Report Writing and Case Studies
15 hours		 General Appraiser Income Approach
60 hours
      Statistics, Modeling, and Finance
15 hours		 Statistics, Modeling, and Finance
15 hours
      Advanced Residential Applications and Case Studies
15 hours		 General Report Writing and Case Studies
30 hours
      Appraisal Subject Matter Electives
20 hours		 Appraisal Subject Matter Electives
30 hours

The primary source document for this guide: New Hampshire Real Estate Appraiser Board rules http://www.gencourt.state.nh.us/rules/state_agencies/rab100-500.html.

Contact us ~ LeMay School of Real Estate Home
www.lemayschoolofrealestate.com
Copyright (c) 2008-2015 - LeMay School of Real Estate