How to Become a Commercial Real Estate Appraiser
Find out what the requirements are to be certified as a commercial real estate appraiser in your state., Obtain a college degree., Attend the required training courses., Work under the supervision of a certified general real estate appraiser., Take...
Step-by-Step Guide
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Step 1: Find out what the requirements are to be certified as a commercial real estate appraiser in your state.
The Appraisal Qualifications Board lists the minimum requirements for all appraisers nationally, but each state may impose additional requirements.
Check to see if your state puts limits on what you can do based on your experience and education.
You may be limited in the dollar value of the properties you can appraise, or whether you can testify in court.
Apply for a certification or a license after passing all the required courses and working under a licensed appraiser for the required number of hours.
You may also have to pass a licensing exam administered by the state body charged with overseeing real estate appraisers.
National requirements are as follows Licensed Residential: 2,000 Experience hours, 150 License Education hours Certified Residential: 2,500 Experience hours, 200 License Education hours Certified General: 3,000 Experience hours, 300 License Education hours -
Step 2: Obtain a college degree.
Most states require one for commercial appraisers, but you may still qualify without a degree if you've completed a certain number of credit hours.
It's very helpful to take courses in finance, economics, business and similar subjects, including English.
Ask an adviser at your college or university for advice in which degree program to pursue. , You can take classes at night while working other jobs, save enough money to meet your living expenses and pay tuition while you attend classes during the day or take classes online.
Your state's real estate regulatory agency can help you choose a quality training program. , You will have to work a minimum number of hours as a trainee doing commercial appraisals before you can obtain a certification, and it's unlikely you will be hired to perform appraisals without being certified.
The number of hours you must work as a trainee vary by state. , Exams are administered by the states but are overseen by the Appraisal Subcommittee of the Federal Financial Institutions Examination Council, a federal government organization that ensures all real estate appraisers meet certain requirements.
You will also be required to sign off on a code of ethics. -
Step 3: Attend the required training courses.
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Step 4: Work under the supervision of a certified general real estate appraiser.
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Step 5: Take your state's certification or licensing exam.
Detailed Guide
The Appraisal Qualifications Board lists the minimum requirements for all appraisers nationally, but each state may impose additional requirements.
Check to see if your state puts limits on what you can do based on your experience and education.
You may be limited in the dollar value of the properties you can appraise, or whether you can testify in court.
Apply for a certification or a license after passing all the required courses and working under a licensed appraiser for the required number of hours.
You may also have to pass a licensing exam administered by the state body charged with overseeing real estate appraisers.
National requirements are as follows Licensed Residential: 2,000 Experience hours, 150 License Education hours Certified Residential: 2,500 Experience hours, 200 License Education hours Certified General: 3,000 Experience hours, 300 License Education hours
Most states require one for commercial appraisers, but you may still qualify without a degree if you've completed a certain number of credit hours.
It's very helpful to take courses in finance, economics, business and similar subjects, including English.
Ask an adviser at your college or university for advice in which degree program to pursue. , You can take classes at night while working other jobs, save enough money to meet your living expenses and pay tuition while you attend classes during the day or take classes online.
Your state's real estate regulatory agency can help you choose a quality training program. , You will have to work a minimum number of hours as a trainee doing commercial appraisals before you can obtain a certification, and it's unlikely you will be hired to perform appraisals without being certified.
The number of hours you must work as a trainee vary by state. , Exams are administered by the states but are overseen by the Appraisal Subcommittee of the Federal Financial Institutions Examination Council, a federal government organization that ensures all real estate appraisers meet certain requirements.
You will also be required to sign off on a code of ethics.
About the Author
Cheryl Shaw
Experienced content creator specializing in organization guides and tutorials.
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