How to Become an Industrial Real Estate Appraiser

An industrial real estate appraiser is a professional employed by a bank, mortgage or lending company, or by a private third party to assess the value of commercial land zoned for industrial applications. To become one, you'll need to go through an intensive training and apprenticeship program offered by an accredited organization that will prepare you to meet state licensing requirements.

Instructions

Difficulty: Challenging

Things You’ll Need:

• Bachelor's degree (highly recommended)

1. Obtain a four-year Bachelor's degree, ideally in a liberal arts field of study. These aren't official requirements, but many real estate appraisal course providers favor applicants with a minimum of a Bachelor's degree.
2. Familiarize yourself with the licensing requirements for commercial real estate appraisers, as set forth by your state's licensing bureau. Every state has one, and each state has varying requirements.
3. Consult your state's licensing board to find a list of reputable institutions that offer the in-class training you'll need to complete. Apply and enroll for in-class training leading to a real estate appraiser trainee designation, usually 75 course hours.
4. Locate a practicing industrial real estate appraiser who is willing to supervise your practical experience internship. Depending on what level of qualification (licensed or certified) you're planning to attain, you'll require differing amounts of work experience, measured in hours. A minimum of 2,000 hours is required by most states to become a licensed industrial real estate appraiser, and more if you want to become certified.
5. Take the written examination required by your state's licensing board to complete your formal training to become an industrial real estate appraiser. You'll be permitted to sit an examination once you've completed the required amount of in-class training and have a supervising appraiser sign off on your hours of practical experience.
6. Look for work. Any institution that finances or deals with the purchase or sale of industrial real estate will need appraisers. You can also work independently, on a contract basis for individuals or smaller companies who want to ensure they're receiving a fair price for their land.

Tips & Warnings

• Check to see what specific requirements your state demands of its licensed and certified real estate appraisers. The Appraisal Institute provides a handy set of state-by-state links (see Resources below).
• Ensure that your appraiser education includes instruction in how to protect your legal rights when performing an appraisal. Lawsuits are not uncommon against appraisers whom clients claim misrepresented the true value of the property.

Who Can Help:

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