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Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Real Estate Appraiser Licensing Requirements

South Dakota Appraiser Certification Program

308 South Pierre Street
Pierre, South Dakota 57501
Phone: 605-773-4608
Website: https://dlr.sd.gov/appraisers/default.aspx


State-Registered Appraiser Licensing Education Requirements

 

  1. Be 18 years of age or older
  2. Complete background check and submit fingerprints to state
  3. Pursuant with ruling ARSD 20:14:05 State-Registered appraisers may perform any non complex property appraisal with a transactional value of less than $250,000 and assist a certified appraiser in the preparation of federally related transaction purpose appraisals.
  4. Complete 75 hours of education to include:
    1. Basic Appraisal Principles- 30 hours
    2. Basic Appraisal Procedures- 30 hours
    3. National USPAP 15-hour Course- 15 hours
    4. Training course for Supervisory Appraisers and State-Registered Appraisers is required before becoming licensed/certified as a State-Registered Appraiser and in order to claim appraisal experience credit for an assignment requiring a supervisory appraiser.
  5. Pursuant with ruling 20:14:05:02.01 an applicant for state-registered appraiser credential is not required to have any appraisal experience. After being issued a credential by the department a state-registered appraiser may accumulate experience when the appraiser begins work on any appraisal that includes experience hours that will qualify.
  6. Pass Exam and pay applicable fees

State-Licensed Appraiser Licensing Education Requirements

 

  1. Be 18 years of age or older
  2. Complete background check and submit fingerprints to state
  3. Pursuant with ruling ARSD 20:14:05. A State-Licensed Appraiser can appraise any non-complex, non residential property appraisal or complex 1 to 4 family residential property appraisal with a transactional value of less than $250,000 and any non complex 1 to 4 family residential property appraisal with a transaction value of less than $1,000,000.
  4.  Complete 150 hours of education to include:
    1. Basic Appraisal Principles- 30 hours
    2. Basic Appraisal Procedures- 30 hours
    3. National USPAP 15- Hour Course- 15 hours
    4. Residential Market Analysis and Highest and Best Use- 15 hours
    5. Residential Appraiser Site Valuation and Cost Approach- 15 hours
    6. Residential Sales Comparison and Income Approaches- 30 hours
    7. Residential Report Writing and Case Studies- 15 hours
  5. Pursuant with ruling 20:14:05:03 an applicant for state-licensed appraiser credentials shall have a minimum of 1,000 hours of appraisal experience in no fewer than 6 months. All experience must be kept on an experience log, which additional information can be found here
  6. Pass Exam and pay applicable fees


State-Certified Residential Appraiser Licensing Education Requirements

 

  1. Be 18 years of age or older
  2. Complete background check and submit fingerprints to state
  3. Pursuant with ruling ARSD 20:14:05 a State-Certified Residential Appraiser can appraise any non complex, non residential property appraisal with a transactional value of less than $250,000 and any 1 to 4 family residential property appraisal without regard to transaction value or complexity.
  4. Complete 200 hours of education to include:
    1. Basic Appraisal Principles- 30 hours
    2. Basic Appraisal Procedures- 30 hours
    3. National USPAP 15 Hour- 15 hours
    4. Residential Market Analysis and Highest and Best Use- 15 hours
    5. Residential Appraiser Site Valuation and Cost Approach- 15 hours
    6. Residential Sales Comparison and Income Approaches- 30 hours
    7. Residential Report Writing and Case Studies- 15 hours
    8. Statistics, Modeling and Finance- 15 hours
    9. Advanced Residential Applications and Case Studies- 15 hours
    10. Appraisal Subject Matter Electives- 20 hours
  5. Possess a Bachelor’s degree or high from an accredited college or university
  6. Hold an Associate’s degree from an accredited college or university in a field of study related to:
    1. Business Administration
    2. Accounting
    3. Finance
    4. Economics
    5. Real Estate
  7. Successful completion of 30 semester hours of college-level courses from an accredited college or university or CLEP can be found here
  8. Pursuant with ruling 20:14:05:03.01. An applicant for state-certified residential appraiser credentials shall have a minimum of 1,500 hours of appraisal experience of which at least 750 hours are in residential appraiser work within no fewer than 12 months. The applicant shall submit for review at least two small income-producing property appraiser reports. Each report shall include all three approaches to value. “Residential” Is defined as 1 to 4 family residential values.
  9. Pass exam and pay applicable fees

 

State-Certified General Appraiser Licensing Education Requirements

 

  1. Be 18 years of age or older
  2. Complete background and submit fingerprints to state
  3. Pursuant with ruling ARSD 24:14:05 A State-Certified General Appraiser may appraise any type of property without regard to transaction value or complexity.
  4. Complete 300 hours of education to include:
    1. Basic Appraisal Principles- 30 hours
    2. Basic Appraisal Procedures- 30 hours
    3. National USPAP Course- 15 hours
    4. General Appraisal Market Analysis and Highest and Best Use- 30 hours
    5. General Appraiser Sales Comparison Approach- 30 hours
    6. General Appraiser Site Valuation and Cost Approach- 30 hours
    7. General Appraiser Income Approach- 60 hours
    8. General Appraiser Report Writing and Case Studies- 30 hours
    9. Statistics, Modeling and Finance- 15 hours
    10. Appraisal Subject Matter Electives- 30 hours
  5. Possess a Bachelor’s degree or higher from an accredited college or university
  6. Pursuant with ruling 20:14:05:04 an applicant for state-certified general appraiser credential shall have a minimum of 3,000 hours of which at least 1,500 hours are in nonresidential appraiser work within no fewer than 18 months. The applicant shall submit for review a minimum of two nonresidential appraisal reports. Both of the reports shall include all three approaches to value.
  7. Pass exam and pay applicable fees


Appraiser Continuing Education Requirements

 

  1. Renewal periods are odd-numbered years by September 30th
  2. Complete 28 hours of education to include the 7 hour National USPAP Update Course, which will be completed by June 30th of each even-numbered year.
  3. View all information and renewal requirements here

 

Exam Provider Information

 

  1. Applicants must submit a completed application with all required documentation and have application approved. Once application is approved, the applicant will be provided a candidate handbook for the computerized National Uniform Appraiser Examination and instructions for contacting and making arrangements with the testing company to sit for the examinations.
  2. Review all testing information here