Why Choose a Certified Appraiser Over a Licensed Appraiser?

Appraise your home.

Both licensed and certified residential appraisers appraise residential properties. However, a certified residential appraiser has more education and experience, and can conduct a wider range of residential appraisers than a licensed appraiser.

Education

Compared to a licensed appraiser, a certified residential must have at least 50 more hours of appraisal coursework and hold, at minimum, an associate's degree. Those 50 additional hours and college coursework expose the certified residential appraiser to a wider range of appraisal, economic and financial topics than a licensed appraiser.

Experience

A certified residential appraiser must have at least 500 more experience hours and an additional 12 months in the field than a licensed appraiser. Five hundred more hours equates to about 100 to 200 additional appraisals. A certified residential appraiser has obtained more real-world experience, has seen a wider range of appraisals and properties being appraised and has received more supervised training.

Scope of Practice

A certified residential appraiser can undertake more complex appraisals so long as they are competent. Both types of appraisers can appraise from single family units to fourplexes; however, the $1 million threshold is removed for the certified residential appraiser.

Choosing an Appraiser

Choose the most experienced and educated appraiser for your particular valuation job; ask for their qualifications. Although a licensed appraiser can be qualified for your specific need and should be given adequate consideration, a certified residential appraiser will trump a licensed appraiser in terms of education and experience and is often the preferred choice.

Warning

Before hiring an appraiser, it would be wise to check with the state regulatory board to see if any disciplinary action has been taken against the license holder.

References

• The Appraisal Foundation