How to Become an Appraiser

Real estate appraising is a unique and fun career that doesn’t require a college degree. Home appraisals are an important aspect of the home buying process. As a result, mortgage brokers and lenders typically contract or hire appraisers to inspect a real estate property and assess the property’s worth.

Difficulty: Moderate

Instructions

1. Research your state’s licensing requirements. The minimum requirements to become a real estate appraiser vary from state to state. In most instances, you’ll have to complete a combination of hands-on training and classroom instruction.

2. Enroll in a real estate appraisal class. Although a college degree isn’t required to become an appraiser, you’ll need to complete approximately 120 hours of formal training. You’ll receive a trainee license upon successful completion of an appraisal course.

3. Apply for a trainee job. Before you’re able to appraise properties on your own, you have to work under the supervision of an experienced real estate appraisal. These mentor or apprenticeship programs provide you with hands-on experience, and you’ll learn the ins and outs of being an appraisal. Banks and real estate offices regularly have openings for an appraisal trainee.

4. Find additional employment. Unfortunately, new appraisers don’t make a lot of money. Hence, you may need to stay with your current employer or find part-time work until you receive your actual appraiser’s license.

5. Establish a good relationship with several mortgage banks. Once you complete the mentoring program and receive your license, you’re qualified to appraise real estate properties. Network with other appraisers, and offer your services to several banks.