How to Become a Property Appraiser
As a property appraiser, you will be working with data to determine the value of a property. There are three approaches you can take, with one or two approaches generally being most suitable for the particular task. When choosing which approach to use, it’s important to consider the type of value you’re trying to determine, the type of property itself, and the quality of the available data. There’s no one best approach; they all have their advantages and disadvantages.
A bachelor’s degree or equivalent and at least 300 hours of approved coursework in real estate appraisal procedures are needed for certification. To become a Certified General Real Estate Appraiser (CGREA), you must complete 3,000 hours of appraisal work within a period of at least 18 months. You can earn your certification by taking specific courses or by working as an appraiser in a real estate appraisal firm.
Once you have met these requirements, you will need to obtain your appraisal license. You must have completed at least 30 semester credit hours in specific courses. You must also have completed at least 150 hours of qualifying appraisal specific education from a provider approved by the state. You may also be required to take the seven-hour National USPAP Update Course.
To become a real estate appraiser in New York, you must have completed a real estate appraisal trainee license program. The course should have a concentration in residential and commercial appraisal methods. It should also cover the ethics of appraisal. AQB recently adopted a course called Practical Applications of Real Estate Appraisal (PAREA), which simulates real-world appraisal experiences.
Career opportunities for property appraisers vary from state to state and are available in many types of organizations. They can work in an office setting or telework from home. Some property appraisers may be assigned to work on Federal or Indian trust land, which can be challenging but rewarding. You can also choose to work as an independent contractor.
Career opportunities for property appraisers are expected to increase over the next decade. There are approximately 76,100 property appraiser jobs available in the United States. The growth of this field is closely tied to the real estate market. Employment growth will also be spurred by economic expansion and population growth, as these factors contribute to demand for property. Additionally, advances in mobile technology and automated valuation models will increase productivity.
Those seeking careers as property appraisers must meet educational requirements. A bachelor’s degree in real estate appraisal or related field is required to become licensed. This degree will typically take four years to earn. However, a few states allow applicants with college credits to qualify without a bachelor’s degree. Additionally, a property appraiser must complete thousands of work experience hours in order to earn a license. However, due to the competitive nature of this profession, it can be difficult to find a mentor.