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