Posted by: Brightwood Real Estate Education
Published: January 14, 2014
The Appraisal Foundation adopted changes to the Real Property Appraiser Qualification Criteria that represent minimum national requirements each state must implement no later than January 1, 2015. The Appraiser Qualifications Board (AQB) establishes the minimum education, experience and examination requirements for real property appraisers to obtain a state license or certification. In addition, the AQB performs a number of ancillary duties related to real property and personal property appraiser qualifications. To learn more about the changes adobted by the AQB, download the summary on the Appraisal Foundation website.
Please Note: Individual state agencies may choose to implement the criteria prior to the 2015 deadline.
Changes to the college-level education requirement:
Applicants for certified general licensure should note that 3,000 hours of appraisal experience must have been completed in no less than thirty (30) months. If this deadline has not been met, the applicants will no longer be able to substitute the ten (10) subject matter college courses in lieu of a bachelor’s degree.
Applicants for certified residential licensure should note that 2,500 hours of appraisal experience must have been completed in no less than twenty-four (24) months. If this has not been achieved the applicants will no longer be able to substitute the seven (7) subject matter college courses in lieu of an associates degree and will require a bachelors degree.
Applicants for licensed appraiser should note that 2,000 hours of appraisal experience must have been completed in no less than twelve (12) months. If this has not been achieved the applicants will be required to have an associate’s degree. See AQB January 2012 “The Real Property Appraiser Qualification Criteria and Interpretations of the Criteria”.
Applicants for registered/trainee appraiser are not required to possess a college degree or to complete any prior experience. However, there are restrictions on registered/trainee appraiser, as they may not prepare appraisals unless supervised by another appraiser holding no less than a certified level credential. Most registered/trainee appraisers will therefore strive to achieve, at the very least, the license level. They will thus be impacted by the time restrictions as stated above.
Note: some states may choose to implement dates earlier; contact your state regulator for more information.
A more detailed summary of changes is available from The Appraisal Foundation.
To learn more about becoming a licensed appraiser or upgrading your current licensure in your state, simply select your state from the list on the Appraisal Education landing page.