When you become a Licensed Residential Appraiser in New Mexico, you will be licensed to appraise non-complex, one- to four-unit residential properties with a transaction value not exceeding $1,000,000. Licensed Appraisers are also allowed to appraise complex one- to four-unit residential properties with a transaction value of less than $250,000.
If you’re interested in becoming a Licensed Residential Appraiser in New Mexico, you need to complete 1,000 hours in no fewer than 6 months of work experience as a Trainee Appraiser. You also must pass the AQB-approved Licensed Residential Appraiser Exam to become licensed. The only other option is to successfully complete the Certified Residential or Certified General exams.
Qualifications for the Licensed Residential Appraiser Exam include the completion of 150 class hours (including the 75 hours of course work completed to become an Trainee Appraiser). Want more information? Check out the New Mexico State Appraisal Licensing Requirements page.
If you’ve completed the required education but still need to pass the exam, check out our Appraisal Review Crammer class.