An appraiser’s credentials are based off their licenses, memberships, and years of experience. Yet with a wide variety of licenses and memberships being offered to appraisers, being able to distinguish the different types of appraisers is important.
Appraiser Assistant
To become an assistant to an appraiser, an individual must complete 75-hours of coursework. The course work is divided into 30-hours of basic appraisal principle explaining common laws, tools, and definitions. Then, they must complete 30-hours of coursework explaining appraisal practices and 15-hours of Uniform Standards of Professional Appraisal Practice.
Licensed Appraiser
After gaining 2,000-hours of experience as an appraiser’s assistant, the next step is to become a licensed appraiser. Besides the experience, this license also requires 150-hours of coursework and passing a licensing exam.
A licensed appraiser can appraise any residences/rentals under $1,000,000 dollars. They can also appraise any other type of property under $250,000.
Certified Residential Appraiser
A Certified Residential Appraiser can evaluate any type of property under $250,000 but the licensing process is slightly different. This individual must have 200-hours of coursework, a 2-year degree, 2,500 hours of experience within 2 years, and pass a state exam.
Certified General Appraiser
Now, you are probably wondering who can appraise a property at any price level? Well, that would be a Certified General Appraiser. To become a Certified General Appraiser, one must have a bachelor’s degree, 300-hours of coursework, 3,000-hours of experience including 30 months in non-residuals, and a passing score on the state exam.
Appraisal Institute Member
Individuals that are members of this institute are considered the most prestigious appraisers. In order to become a member, they must complete 380 hours of coursework, have 4,800-hours of experience, pass a 2-day comprehensive exam, and give a demonstration report.
There are also other appraisal associations that are tailored to specific fields. For example, there are associations for rural appraisers, independent-fee appraisers, business appraisers, and many more.
By Anna Hellman
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