Appraisal training in Michigan can often be found within real estate certificate and degree programs. Students learn about the process for evaluating the price of property, as well as real estate investing, real estate law and property development. These programs are designed for experienced real estate professionals looking to enhance their knowledge, as well as for those preparing for the appraisal licensing examination. Below are short summaries of those five schools in Michigan that have real estate appraisal programs.
Central Michigan University
Founded in 1892, Central Michigan University offers a real estate development & finance major through its Bachelor of Science in Business Administration program at its Mount Pleasant campus. The program requires at least 124 credit hours for completion and consists of general education, business and real estate classes. Some of the classes explore real estate principles, real estate appraisal and valuation, real estate law, capital markets, real estate development and investments. Students are also required to participate in a professional internship and complete a senior capstone project in order to graduate.
Ferris State University
Located in the western part of the state in Big Rapids, Ferris State University has a student population of approximately 14,600. Students interested in appraisal training can enroll in the school's certificate in real estate program, which includes courses in investment and management, real estate appraisal and finance. The program is designed to aid students toward careers in appraisal, property management, urban planning and land development.
Lansing Community College
In 1957, Lansing Community College opened its doors to provide technical and specialized career development programs to local Lansing residents. The institution's real estate programs are available through the business and economics department. The certificate of completion in real estate program offers a practical guide to real estate for students. Through the course in residential appraisal, students learn how to evaluate real estate property. The program also addresses sales, real estate law, property management and real estate financing.
In the real estate associate's degree program, students learn how to study the real estate market in terms of what is for sale and what is actually selling. In addition to standard general education courses, students complete real estate classes such as architectural drawings, surveying, real estate transaction, time management and consumer behavior.
Northern Michigan University
Located in Marquette on Michigan's Upper Peninsula, Northern Michigan University (NMU) offers about 147 degree programs to its students. The school offers both graduate and undergraduate programs, and all full-time students receive an iBook or ThinkPad as a part of tuition.
NMU offers several classes for aspiring real estate appraisers, including a class on the USPAP and Michigan real estate law. Other classes include report writing, appraisal scenarios and residential appraisal review. These classes typically take 1-2 days, meet state continuing education requirements and may be held in locations throughout the peninsula.
University of Michigan - Ann Arbor
The University of Michigan opened its Ann Arbor campus in 1837 and has 19 different academic schools and colleges. The interdisciplinary program prepares students for the many different aspects of real estate. Through the program, students identify ways to meet housing concerns for the underserved and ways to participate in urban development. The program awards 17 credits and includes classes like real estate essentials, real estate finance, land use law, real estate development and green development. The program can take up to a year to complete.
Michigan State's Department of Licensing and Regulatory Affairs recognizes four different levels of real estate appraisers. The lowest level of licensure is the Limited Appraiser License, which requires a minimum of 75 hours of state-approved pre-licensure education. The highest level is the Certified General Appraiser, which requires applicants to complete 300 hours of training and pass a state licensure exam. This level of licensure also requires 3,000 hours of work experience. All levels of state licensure require applicants to complete the 15-hour national Uniform Standards of Professional Appraisal Practice (USPAP) training. Below is a comparison table offering specific degree programs and tuition information.
School Comparison: At a Glance
|School Name||School Type & Setting||Real Estate Appraisal Programs Offered||Undergraduate Tuition & Fees (2018-19)|
|Central Michigan University||4-year, public; distant town||Bachelor of Science in Business Administration - Real Estate Development and Finance|| $12,960 in-state;
|Ferris State University||4-year, public; distant town||Certificate in Real Estate||$11,788*|
|Lansing Community College||2-year, public; midsize city|| Certificate of Completion in Real Estate,
Associate in Business in Real Estate
| $3,530 in-district;
|Northern Michigan University||4-year, public; remote town||Real Estate Appraisal Education Program|| $10,729 in-state;
|University of Michigan - Ann Arbor||4-year, public; midsize city||Graduate Certificate in Real Estate Development|| $15,262 in-state;
Source: *NCES College Navigator