Chicago Real Estate Appraisal Course Summaries with School Info

Jan 29, 2019

Real estate appraisal schools prepare students to become licensed real estate appraisers, who valuate properties for sale or insurance purposes. This article details a couple of real estate appraisal schools in and around Chicago, Illinois.

What Chicago Schools Offer Real Estate Appraisal Courses?

Chicago real estate appraisal courses often lead to Illinois real estate appraisal certificates. Students have plenty of options to choose from, as several schools and institutions offer training courses that can lead to certification. Two such programs include:

  • Appraisal Institute offers a series of Qualifying Education programs which prepare students for various real estate specialties. One of these programs, the Appraiser Trainee program, is specifically designed for students looking to study appraisal.
  • More experienced students can enroll in the Certified Residential Appraiser at Appraisal Education Inc. This program grants a higher-level certification, allowing for career advancement and better job prospects.

School Comparison Chart

The following table contains some important figures about these two programs, including tuition and school location.

Appraisal Institute Appraisal Education Inc.
Tuition N/A $2,875
Location Chicago, IL Addison, IL
Program Length 75 credits 125 credits

Appraisal Institute

The Appraisal Institute has many locations all over the U.S., though its main headquarters is in Chicago, Illinois. Classes are taught in person and text materials are included in the student's tuition. The Appraiser Trainee program is an excellent option for novice students looking to enter the field.

Qualifying Education: Appraiser Trainee

Students striving to become real property appraisers must first become Appraiser Trainees. These trainees learn under the direct supervision of an experienced and certified appraiser and are also required to complete a training program, such as the one offered by Appraisal Institute. This program consists of three courses and introduces students to fundamental appraisal practices and procedures. Students also complete a course on the National Uniform Standards of Professional Appraisal Practice (USPAP), in which they will learn about performance standards and appraisal ethics.

Appraisal Education, Inc.

This institution offers several different programs for both beginners and experienced professionals. Those who already hold entry-level certification can bolster their credentials by seeking the Certified Residential Appraiser credential.

Certified Residential Appraiser

Should a Trainee Appraiser wish to acquire the certification, he or she must have no fewer than 2,500 hours and 24 months of experience. Individuals will also need to complete state-approved coursework and pass a state examination for an Illinois appraisal license. Students can complete these courses by enrolling in a Certified Residential Appraiser program. Building off of knowledge learned in the entry-level program, these courses cover more advanced appraisal topics such as market analysis, cost approach, site valuation, and report writing.

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