Becoming a Licensed Real Estate Appraiser in Indiana

A licensed real estate appraiser in Indiana must have training and experience.

Real estate appraisers estimate the value of a property for many reasons whether it's for a sale, divorce resolution or tax purposes. They consider things such as building style, home sales in the area for similar properties and public infrastructure such as roads and nearby parks. Taking photographs of properties and preparing detailed reports are part of the job. Becoming a licensed real estate appraiser in Indiana requires several steps, including training, experience and applying for a license.

Instructions

1. Complete the required hours of appraiser qualifications board approved courses. In Indiana, it is 90 hours for a trainee appraiser, 200 hours for a certified residential appraiser and 300 hours for a certified general appraiser. You can take these courses at real estate schools and some community colleges. or four-year universities. You will be taking courses such as basic appraisal principles and procedures, residential market analysis and site valuations and cost approaches.

2. Take college courses dependent on the type of appraiser license you wish to achieve. There are no college courses required for an appraiser trainee, but if you wish to become a residential appraiser, you will need an associate's degree from an accredited college or 21 hours of approved courses. For a general appraiser's license, you will need a bachelor's degree or 30 semester hours from an accredited college or university in approved courses.

3. Achieve appraisal experience. You can coordinate this through work with a real estate office under supervision or through your real estate school. You will need 2,500 hours of experience within the 24 months prior to applying for your license as a residential appraiser and 3,000 hours of appraisal within the 24 months before applying for your license as a general appraiser.

4. Complete 15 hours of Uniform Standards of Professional Appraisal Practice. This is a requirement for all levels of licensing and can be completed through your real estate school.

5. Apply for your license through the Indiana Professional Licensing Agency. Provide proof of education, training, experience and submit to an FBI criminal history background check. Pay associated fees. As of 2010, the application fee is $100. The contact information for the IPLA is: Indiana Professional Licensing Agency, 302 West Washington Street, Room EO34, Indianapolis, Indiana, 46204-2700; [phone]; in.gov/pla.

6. Renew your license every two years. In Indiana, you must complete 28 hours of continuing education credits mandated by the state as well as seven hours of the USPAP.

Tips & Warnings

• Residential appraisers focus solely on residential properties and general appraisers can appraise any type of property.

• Approved courses for a residential appraiser if you don't have your associate's degree are English composition, principles of microeconomics or macroeconomics, finance, algebra, geometry or higher mathematics, statistics, introduction to computers, including word processing and spreadsheets, business or real estate law.

• Approved courses for a general appraiser if you don't have your bachelor's degree are the same, plus two elective courses in any of the following: accounting, geography, ag-economics, business management or real estate.

• If you have a degree, it is suggested to have a major or minor in real estate, but if you don't, you can combine your degree with appraisal experience.

References

• Indiana.gov: Real Estate Appraiser Licensure & Certification Board