How to Become a Property Appraiser

Property Appraisal

There are many people who use the services of a property appraiser. Lenders use property appraisals to determine the value of the property used as collateral, and lawyers use property appraisals to determine value in property disputes and divorces. Becoming a property appraiser is not an easy process but can be a very rewarding career for the right person.

Difficulty:

Moderately Challenging

Instructions

1. Find out what the licensing and certification requirements are for your state. The requirements will vary from state to state so you need to be sure what they are before taking classes. Make sure the school you choose qualifies with the state.

2. Research what type of appraisal work you wish to pursue. There are many areas of appraisal such as residential, commercial, and land or other, more complex, property valuations. You may want to specialize in an area or remain a generalist. Each area of appraisal will require more specific coursework, so research the different areas before you begin your studies.

3. Take the appropriate coursework. You will need a minimum of 90 hours of appraisal coursework before you can take the state licensing exam. You can take the required coursework at a junior college or appraisal training school. The local professional appraisal organization may also offer continuing classes that you will have to take during your appraisal career.

4. Get practical work experience as an appraisal. In addition to the education requirements you will need 2500 hours of work experience as an appraisal before you can take the licensing exam. Find a more experienced appraiser to serve as your mentor.

5. Take the state licensing exam when you have completed the educational and work experience requirements. Getting licensed is the first step in becoming a qualified property appraiser. You will need to take additional coursework and an exam to get further certification in other areas of appraisal.

Tips & Warnings

• The field of appraisal is constantly changing so you need to keep up with trends in the industry. Also take continuing education classes during your career to stay abreast of new laws and methods of appraisal.

• While demand for appraisal is strong it may take many years of experience before you can make a decent living from it. Appraisal trainees start at fairly low wages until you have significant education and experience.