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How to Become a Certified Residential Appraiser

How to Become a Certified Residential Appraiser

Posted by: Brightwood Real Estate Education
Updated: April 24, 2018

Do you want to upgrade your appraisal license to become a Certified Residential Appraiser? A Certified Residential Appraiser is qualified to appraise one-to-four residential units without regard to value or complexity. Once you complete the criteria below, you can apply for a Certified Residential Appraiser license. Note that some states may have additional requirements. You can learn more about your state’s requirements by visiting their respective regulatory website. To find your state, visit the Appraisal Subcommittee website.

Not yet a licensed appraiser? See our How to Become a Licensed Appraiser article to learn how. 

Education

Complete a total of 200 hours of education. The 200 hours includes the courses required for trainee and licensed level appraisers, plus at least three additional courses:

Statistics, Modeling and Finance                                     15 hours
Advanced Residential Applications and Case Studies    15 hours
Appraisal subject matter electives course                        20 hours

Experience

On February 1, 2018, the AQB adopted new experience requirements to become a Licensed or Certified Appraiser. The requirements are effective May 1, 2018 in states that choose to adopt these criteria. States can opt to keep the old criteria as these are more stringent than the new requirements. You are required to complete a total of 1,500 hours of experience in no less than 12 months. The total number of hours can include the initial 1,000 hours obtained for the Licensed Appraiser level, plus 500 additional hours. Many states require these additional hours to be on complex appraisal assignments. These hours should be directly supervised by an acceptable supervisory appraiser. Appraisers are required to maintain a log jointly with the supervisory appraiser.

Examination

The AQB-approved Certified Residential Real Property Appraiser examination must be successfully completed. All education, degree, and experience hours must be completed prior to taking the national exam. All end-of-course exams must be passed.

Degree

Effective May 1, 2018, an applicant for the certified license must meet one of the five degree requirements for the certified license:

  • Bachelor’s degree in any field of study
  • Associate's degree in business administration, accounting, finance, economics, or real estate.
  • Successful completion of 30 semester hours of college-level courses with a 3 semester hours each in the following topics: English composition, microeconomics, macroeconomics, finance, algebra, geometry, other higher math, statistics, computer science, business or real estate law plus two elective courses in those topics or accounting, geography, agricultureal economics, business management, or real estate.
  • Successful completion of at least 30 semester hours of College Level Examination Program (CLEP) examinations in the following topics: college algebra (3 semester hours). college composition (6 semester hours), college composition modular (3 semester hours), college mathematics (6 semester hours), principles of macroeconomics (3 semester hours), principles of microeconomics (3 semester hours), introductory business law (3 semester hours), and information systems (3 semester hours)
  • Any combination of college-level courses or CLEP examinations that ensures coverage of all topics and hours required in the 30 semesters of college level colleges option.

In the alternative, those who have a licensed residential credential with at least five years of experience may qualify in lieu of a degree by meeting all of the following requirements:

  • No disciplinary actions in the years preceding application that were adverse, final, and non-appealable
  • Completion of additional education required for the Certified License level
  • Successful completion of the required experience for Certified Residential level and
  • Passing the Certified Residential Exam

These criteria are national criteria, so students should check with their state for additional or alternative requirements. Note: All states may not adopt these criteria with the May 1, 2018 effective date.

Application

Once all of the education and experience requirements are completed and documented, you can submit an application to the appropriate state board. Be check with the state for specific requirements for application for a license. To find your state licensing board, visit the Appraisal Subcommittee website.