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Become An Appraiser
To become an licensed/certified appraiser in the State of Utah,
you will want to do the following:
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Contact
the Division of Real Estate at 801-530-6747 or Division
of Real Estate for licensing requirements. The Division
of Real Estate is the licensing entity for appraisers.
Any questions you have on licensure, including approved education
and mentorship requirements should be directed to them.
You must obtain 75 hours of education before you sign up as
a trainee with the State of Utah.
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Contact
an approved school for your education. The Appraisal
Institute is a nationwide organization that provides the highest
quality pre-licensure and continuing education available.
For upcoming classes, please check our Education
Calendar. Always check with the Division of Real
Estate on educational requirements.
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Education
- The three courses, provided
by the Appraisal Institute, to obtain your 75 hours of trainee
education are:
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Basic
Appraisal Principles
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Basic
Appraisal Procedures
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15-hour
USPAP Course
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These
courses will be offered again in beginning in March 2008. Details
are on the Chapter website under Education.
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Contact
a mentor. Check with the Division of Real Estate on
this requirement. The mentorship/apprentice relationship
is your responsibility to procure and the agreement is between
you and the mentor. Be certain you have your 75 hours
of education before you sign up as a trainee.
Note:
Information on this page is taken from the Division of Real
Estate website at www.commerce.utah.gov/dre.
Check this website for current information.
TEN
STEPS ON
HOW TO BECOME A REAL
ESTATE APPRAISER
Under
the
Utah
Rules Effective September 10, 2004, as
Published
in “
Utah
Real
Estate Appraiser Review”,
August 2004,
and
Interpreted by J Allan Payne, MAI, SRA
And
Updated February, 2005
Step #1: Take
and complete 75 credit hours of pre-license real estate
appraisal classes, including USPAP.
The classes must be approved by the State and completion
requires attending 90% of the scheduled classroom hours and
passing a test.
Step #2: Find a position as an appraiser’s trainee.
To be a trainee you have to have a designated superior.
Step #3: Apply to the State to be an Appraiser Trainee and
fill out the two-page Registration Form.
This requires that you have a supervisor and that your
supervisor provide his or her license number, place of business,
and signature. It
also requires that you document the classes you have completed.
Please
note that if you have appraisal experience credits prior to
September 10, 2004, you have to declare the number of points
that you claim at the time you turn in this registration form.
The points also have to be signed off by your supervisors
with whom you have work.
As
an Appraiser Trainee in residential, you will be required to
have your supervisor accompany you on at least 100 inspections.
As an Appraiser Trainee in the General category, you will
be required to have the supervisor accompany you on inspections
until you have accumulated 20 experience points.
Step #4: From this point, in order to become a Licensed Appraiser,
you will have to take an additional classes so that your total
class hours will equal 150.
Note that these have to be pre-approved, pre-license appraisal
classes. In addition,
you will have to keep track of your experience points until you
have the required points.
This can be done in as short as two years or as long as
five years. The points
have to be recorded on the state approved form and signed off
by your supervisor. Your
supervisor is responsible for training you and his or her license
or certification is in jeopardy for any mistakes you commit.
Step #5: When you have all of the experience points and
education credits you need, you can then apply for the State
License Examination. You
do that by turning in your application, with documentation and a
sample of your appraisals, to the State to be reviewed by the
Experience Review Committee.
Also, you will have to turn in proof that you have
completed the classes you have taken.
Once the State approves your education and your
experience, you will be given permission to take the
examination.
Step #6: Sign up for the examination, take it, and pass it.
Show the State proof that you have passed the examination
and pay your license fee. You
will then be a Licensed Appraiser.
As
a Licensed Appraiser, you are able to go on inspections by
yourself, sign or co-sign appraisals, appraise any type of
property (as long as it is under $250,000), and you can appraise
any one-to-four family residence that is under $1,000,000 and
non-complex in nature (meaning no Income Approach is required)
all without the assistance of a supervisor and you can split
fees.
Step #7: Once Licensed, you can pursue a Certification, which
is the next level. Certified
Residential Appraiser requires classes, bringing your education
credits to 210 hours and an associate’s degree or equivalent education
as stated by the Appraisal Qualification Board (AQB).
It also requires additional experience points.
A Certified Residential Appraiser must have three quarters
of all their experience points in residential properties.
They are allowed to have one quarter of their points in
non-residential properties.
A candidate for the Certified Residential Appraiser designation
must have a minimum of 24 months experience as well as 500 points.
Step #8: A Certified General Appraiser applicant must increase
their experience points to 600, of which ˝ of the total points
must be non-residential; that is, only half can be 1-4 family
residential. An applicant
for Certified General Appraiser must bring their education hours
up to 300 hours and a bachelor’s degree or equivalent educaton.
A Certified General Appraiser must have 30 months of total
experience as well as 600 points.
Step #9: Once you have become Licensed and completed your
experience and education to become Certified (either Residential
or General), you can apply for the appropriate examination.
Again, this requires turning in a sample of your work and
proof of your classes and waiting for the State to review your
application. Once
this is done, you can sign up for the examination, take the
examination, and pass it. When
you show proof of passing the examination to the State, you can
pay your required fee and you become a Certified Appraiser.
As
a Certified Residential Appraiser, you will be allowed to
appraise all residential properties, complex or non-complex, up
to and including four units of any value.
As a Certified General Appraiser you will be allowed to
appraise all kinds of property in the State of
Utah
.
Step #10: Once you are a Certified Appraiser, you will want
to advance to a professional level and become designated in one
of the recognized professional associations.
Some of these associations that may be of interest to you
include the , International Right-of-Way Association, the American
Society of Farm Managers and Rural Appraisers, the International
Association of Assessing Officers, the Independent Fee Appraisers,
the American Society of Appraisers, or others.
These organizations each have their own requirements.
Typically, they require a college degree, a demonstration
appraisal report, additional specific experience,
more classes, and a very difficult comprehensive examination.
There are designations available for Right-of-way Officers,
Assessment Officers, Commercial Appraisers, Farm Appraisers, Residential
Appraisers, Relocation Appraisers, and other specialties.
Once you have achieved a professional designation, you will
be able to practice at the highest levels of professional appraising.
How
Long Does it Take to Become an Appraiser?
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Licensed
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1-5 Years
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Certified Residential
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2-7 Years
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Certified General
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2 ˝ to 7 ˝ Years
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Professionally
Designated
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3 to 10 Years
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How
Much Does it Cost to Become an Appraiser?
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Licensed
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$1000 to $1,500
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Certified Residential
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$1,500 to $2,000
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Certified General
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$2,000 to $2,500
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Professionally Designated
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$5,000 to $50,000 (Post
Graduate)
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How Much Can a Full Time
Appraiser Earn?
$30,000
to $300,000 per year. The
range varies widely depending upon specialty and level of
professionalism. The
field is open and there is room at the top of any of the
appraising subcategories.
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