How to Become a House Appraiser in Illinois
Appraisers serve the function of estimating the value of real property. Times at which clients hire appraisers include when property is sold, taxed, insured, developed or mortgaged. Appraisers must be familiar with the locality in which they work. By looking at comparable home sales, lease records, location, view and income potential appraisers must accurately estimate the value of property. In Illinois, appraisers must meet a strict set of guidelines to be licensed.
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Instructions
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Become a House Appraiser in Illinois
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Obtain a bachelor's degree in economics, finance, mathematics, computer science, English and business or real estate law. Though not mandatory, the bachelor's degree certainly makes you more marketable to prospective clients and allows you to appraise high-value housing. An associate's degree with appraiser training is the minimum educational level for a licensed appraiser.
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Obtain a federal license. You must be a Certified Residential Real Property Appraiser to legally valuate any property with value in excess of $250,000. To obtain this license, you must have at least an associate's degree or 21 units of specific college education. Further, you must have 200 hours of appraiser classroom training and 2,500 hours of work experience in the past two years. Since you will not be licensed during this time, you will be designated as a "trainee" until you pass the license requirements.
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Obtain an Illinois appraisal license. To do so you must have completed a minimum of 150 hours of appraisal education, 15 of which must be in the National Uniform Standards of Professional Appraisal Practice (USPAP) course. Finally, you need to have obtained at least 2,000 hours of appraisal experience over a period of 12 months. Again, you will be a "trainee" until you reach the requisite level to obtain a license.
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