What is a Real Estate Appraiser?
Before we dive into the steps to become a certified real estate appraiser, let's first understand what this profession entails. A real estate appraiser is responsible for determining the value of a property, whether it's a residential home, commercial building, or piece of land. Their appraisal helps buyers, sellers, lenders, and other stakeholders make informed decisions about real estate transactions.
Obtain a Bachelor's Degree
The first step to becoming a certified real estate appraiser is to obtain a bachelor's degree. While the specific major may vary by state, common areas of study include real estate, finance, economics, or a related field. A strong educational background will provide you with the knowledge and skills needed to succeed in this profession.
Gain Work Experience
After obtaining a bachelor's degree, you will need to gain work experience in the field of real estate appraisal. Most states require aspiring appraisers to complete a certain number of hours under the supervision of a certified appraiser. This hands-on experience will allow you to apply your knowledge in a real-world setting and learn from seasoned professionals.
Complete a Real Estate Appraiser Course
In addition to work experience, you will need to complete a real estate appraiser course approved by the Appraiser Qualifications Board (AQB). These courses cover topics such as appraisal principles, appraisal procedures, and USPAP (Uniform Standards of Professional Appraisal Practice). Successfully completing these courses will provide you with the necessary education to become a certified appraiser.
Pass the Real Estate Appraiser Exam
Once you have completed the required education and work experience, you must pass the real estate appraiser exam. This exam tests your knowledge of real estate appraisal principles and practices and is a crucial step towards obtaining your certification. Be sure to study diligently and prepare thoroughly to increase your chances of success.
Apply for Certification
After passing the exam, you can apply for certification through the Appraisal Foundation or your state's appraisal board. The certification process typically involves submitting an application, proof of education and work experience, and passing a background check. Once your application is approved, you will officially become a certified real estate appraiser.
Join Real Estate Appraiser Companies
To further enhance your career as a certified real estate appraiser, consider joining reputable real estate appraiser companies such as My Market Value Appraisal. These companies provide valuable networking opportunities, ongoing education, and support to help you grow and succeed in the industry. By associating yourself with a reputable company, you can gain credibility and visibility in the real estate appraisal market.