How to Become a Real Estate Appraiser in New York
Real estate agents, banks and homeowners depend on property assessments from real estate appraisers when buying, selling or refinancing a property. In general, real estate property valuations are subjective, however a licensed real estate appraiser typically has sufficient experience to complete most tasks. The New York Department of State, Division of Licensing Services regulates professional real estate appraisers. A real estate appraiser who is licensed in New York can cover the entire state and embark on a rewarding career.
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Instructions
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Take the required sequential courses to obtain your New York Appraiser's Assistant License. To become a licensed appraiser's assistant, you will need 150 hours of prescribed appraisal courses to include; basic appraisal principles, basic appraisal procedures, 15-hour National Uniform Standards of Professional Appraisal Practice, residential market analysis, residential appraiser site evaluation and cost approach, residential sales comparison and income approach, residential report writing and case studies. These courses are available at real estate schools in New York. The Appraiser's Assistant License does not require experience, college courses or exams.
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Pay the required fees to take the test and apply for your New York Appraiser's Assistant License. Send a check or money order for $275. along with your application to: New York State, Department of State, Division of Licensing Services P.O. 22001 Albany, NY. 12201-2001. The fee includes a $25 examination fee that is used to pay test providers. A passing grade on the examination will count toward your certified residential real estate license.
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Work as an assistant appraiser to qualify for your state certified residential real estate appraiser's license. The Division of Licensing Services requires 2,500 hours of appraisal experience, which encompasses 1,500 hours of residential property appraisals. You will need to document your experience of greater than two years and list the properties that you inspected on the application for your certified residential real estate license. Additionally, an associate's degree or 21 prescribed college credits are required for the New York certified real estate appraiser's license.
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Apply for your New York certified real estate appraiser's license. You will need to document your employment history, appraisal experience, education, and complete a log for appraisals that you performed. An assistant appraiser who has passed the examination, completed the educational and experience requirements will be eligible to become a New York certified real estate appraiser.
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Tips & Warnings
Keep accurate records for properties that you appraise.
Additional appraisal courses and college degree requirements can prepare you for other appraisal license types.
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