NEW LICENSING REQUIRMENTS EFFECTIVE JANUARY 1, 2008
In February 2004, The Appraiser Qualifications Board (AQB) of the Appraisal Foundation adopted changes to the real property appraiser qualifications criteria that will become effective January 1, 2008. The requirements individuals must meet in order to become a licensed or certified appraiser will change significantly. The changes include increased requirements for qualifying education and experience, and a new Uniform State Appraiser Examination.
The manner in which the Office of Real Estate Appraisers will implement the new criteria is important to understand. For all initial license applications and upgrade applications received on or after January 1, 2008, applicants must meet all components (education, experience, and examination) of the new requirements.
Initial or upgrade applications received on or before December 31, 2007, will be reviewed based on current licensing requirements. However, if an examination is not taken until after January 1, 2008, the examination content will be based on 2008 criteria. Therefore, anyone wishing to test under current requirements must submit a complete application prior to September 1, 2007, in order to allow sufficient OREA processing time and examination scheduling prior to December 31, 2007. Any deficient component of an application not completed prior to December 31, 2007, will be required to meet the 2008 new requirements. This pertains primarily to the education and examination components.
Please refer to this website frequently. Additional information will be posted as it becomes available.
The real property appraiser criteria effective January 1, 2008 are summarized in the following table.
AQB Minimum Real Property Appraiser Qualifying Criteria
(Effective January 1, 2008) |
OREA
License Levels |
Basic Education
Requirements |
College Level
Requirements |
Experience |
| Trainee (AT) |
150 Hours |
N/A |
N/A |
| Residential (AL) |
150 Hours |
N/A |
2,000 Hours
(accumulated over at least a
12 month period) |
Certified
Residential (AR) |
200 Hours |
Associate Degree* |
2,500 Hours
(accumulated over at least a
30 month period) |
Certified General
(AG) |
300 Hours |
Bachelors Degree** |
3,000 Hours that include at
least 1500 non-residential
hours (accumulated over at
least a 30 month period) |
Individuals gaining experience at the AT level must be supervised by a certified licensed level appraiser under the new criteria. No supervisor can supervise more than three trainees.
* In lieu of the Associate Degree, an applicant can complete 21 college semester credits in courses covering specific subject matters: English Composition; Principles of Economics (Micro or Macro); Finance, Algebra, Geometry or higher mathematics; Statistics, Introduction to Computers; and Business or Real Estate Law.
** In lieu of the Bachelors Degree, an applicant can complete 30 college semester credits in courses covering specific subject matters: English Composition; Micro Economics; Macro Economics; Finance, Algebra, Geometry or higher mathematics; Statistics, Introduction to Computers; and Business or Real Estate Law; and two elective courses in accounting, geography, ag-economics, business management, or real estate.
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