Though specific state requirements vary, real estate appraisers must be licensed or certified in all states; there may also be federal certification requirements depending on the type of appraisal to be performed. Typically, a bachelor's degree is usually required. Though, in some states, a high school diploma may suffice.
In addition, appraisers need to take courses in appraisal, participate in on-the-job training and complete the number of work hours required for licensure in their state. Real estate appraisal courses may be offered as certificate programs in community college and/or continuing education programs.
Here are some common concepts taught in appraisal classes:
- Ethics in appraisal
- Industry standards
- Legal issues
- Home improvements
- Home evaluations
- Regulatory guidelines
List of Appraisal Classes
National Uniform Standards of Professional Appraisal Practice Class
Students develop an understanding of the principles and standards that direct the appraiser's activities. They discuss the Uniform Standards of Professional Appraisal Practice (USPAP) manual and analyze the guidelines, learning when and how to effectively apply those standards to their work. The course includes a final exam, which some states require for the appraiser's license.
Real Estate Appraisal Principles Class
Participants talk over examples and theories used to form appraisal principles. They survey real estate characteristics, learn about value influences and understand legal considerations. Additional topics include real estate finance, real estate markets and appraisal ethics.
Real Estate Appraisal Procedures Class
The class introduces real estate valuation procedures, including property descriptions, home inspections and analysis of improvement construction. Students review case histories and apply appraisal procedures to them. Additional topics include residential applications, appraisal math and commercial applications.
Real Estate Appraisal Practices and Analysis I Class
Students develop the ability to collect marketing data and analyze it. They discuss techniques for identifying market forces and learn how those forces affect the behaviors of sellers and buyers. Additional topics include Highest and Best Use theory, two-step analysis and value reporting.
Real Estate Appraisal Practices and Analysis II Class
Through a review of case studies, participants acquire an understanding of two common methods for assessing property values. Course assignments develop the students' skill with income approaches and residential sales comparisons. Additional materials include gross rent multipliers, capitalization rates and matched pairs in market analysis.
Residential Real Estate Report Writing and Case Studies Class
Course assignments teach the proper use of common appraisal reporting formats. Students practice using the 2055-drive-by-format and the USAR report, entering data according to state and USPAP guidelines. Additional topics include learning to use census tract maps, comparable sales data and flood mappings when creating reports.