To become a certified home appraiser, you need a college degree, graduate appraising certification, 200 hours of post-secondary assessment coursework, supervised appraisal experience, and passing the appraisal licensing exam. A high GPA and real estate courses can help.
Certified home appraisers make appraisals of residential properties such as houses or apartments. The job involves doing an appraisal with the aim of discovering the value of a property. To become a certified home appraiser, you’ll generally need a college degree and a graduate appraising certification.
It may be helpful to obtain a four-year college degree if you want to become a certified home appraiser; however, you are not limited to just one area of study. In fact, you can specialize in any subject you choose. Granted, it might be helpful to take business or real estate courses as part of your coursework. Subjects such as business and real estate provide useful background information applicable to property valuation and this can help you as you learn to value property.
Also, regardless of which course you choose, getting good grades can be important. Once you earn certification as a home appraiser, a college grade point average (GPA) is something that sets you apart from the competition. Thus, a high GPA can help you more easily get a job as an appraiser.
States vary slightly in terms of specific requirements; however, generally speaking, you will need at least 200 hours of post-secondary assessment coursework. Aspiring certified home appraisers typically enroll in an appraisal course offered by a real estate school. The course usually includes real estate topics such as real estate laws, ethics and local laws. Then a certified appraiser is found who is willing to supervise you as you complete an internship in appraisal, where you typically gain at least 2,500 hours of supervised appraisal experience while taking additional appraisal courses. Courses must adhere to the National Uniform Standards of Professional Assessment Practice (NUSPAP).
Passing the appraisal licensing exam is the next step if you want to become a certified home appraiser. This six-hour exam is scored on a pass/fail basis and includes topics such as valuation ethics, factors that affect value, legal issues, math and statistics in valuation, site value methods, cost approach, or economic principles. The exact number of answers required to pass the exam varies depending on the location or jurisdiction you are in.
After passing the exam, you must submit an application to the local board, which will include a statement of your education, your appraisal training, and the results of the real estate appraisal licensing exam. Additionally, you will likely be asked to submit a criminal background check. Upon approval of your application, you will be eligible to work as a certified home appraiser. As a certified home appraiser, you can appraise properties with less than five units.
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