How to Be a Real Estate Appraiser in New Jersey
As a real estate appraiser in New Jersey, you will have a challenging job: You will determine the worth of residential or commercial properties in the state, often setting this figure so that homeowners can best determine at what price to list their homes when they place them on the market. Becoming an appraiser is no easy task. You'll have to complete classroom training, pass an exam and pay a fee.
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Instructions
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For the Certified General Real Property Appraiser license in New Jersey, which qualifies you to appraise all types of property, applicants need either earn a bachelor's degree from an accredited college or university or 30 credit hours in classes including English composition, statistics, finance, algebra, geometry, and business or real estate law.
There are two lower levels of certification for those interested in appraising only residential property in New Jersey. The Licensed Residential Real Property Appraiser and the Certified Residential Real Property Appraiser require less formal education, fewer hours of appraisal training and less in-the-field experience. See the document listed under Resources for more information.
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For the Certified General Real Property Appraiser certification, you must complete 300 hours of appraisal education courses that are approved by the Appraisal Institute, a professional association. This includes the 15-hour national Uniform Standards of Professional Appraisal Practices course administered by the Appraisal Institute.
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Complete at least 3,000 hours of appraisal work during no more than 30 months to qualify for a Certified General Real Property Appraiser license.
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Take and pass the Appraisal Qualifications Board exam administered by the Appraisal Foundation. This exam will test your knowledge of how to value a home and how market conditions impact a structure's appraised value. .
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Send in your application to the state of New Jersey's Department of Law & Public Safety Division of Consumer Affairs' State Real Estate Appraisers Board at P.O. Box 45032, Newark, NJ 07101. Attach your fee -- which ranges from $75 to $125 depending on which type of license you are applying for -- and a passport photo of yourself, taken within the last six months, to your application. Also include an authorization for the state of New Jersey to run a criminal background check on you.
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References
Resources
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