Do I need an Appraisal License or Appraisal Certification to be a professional Appraiser?

As of December 31,1992, individuals who appraise properties related in any way to federal transactions must have a license or certification.

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What are the various types of Appraisal Certifications?

There are four types of License/Certifications:

• Licensed Real Estate Appraiser
• Certified Residential Appraiser
• Certified General Appraiser
• Appraiser Assistant License

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What are the detailed requirements for each license/certification program?

They are as follows:

• New York State Licensed Real Estate Appraiser.

  • Authorization

    Allows an individual to appraise real property consisting of 1-4 residential units with a transaction value under $1,000,000, and real property units with a transaction value of less that $250,000.

  • Education Requirements

    Complete the required 150 hours of class then take the State exam. Courses consists of R5, R6, R7, R8, R9, R10 & USPAP.

  • Experience Criterion

    2,000 hours of experience over a period of not less than 24 months is required, 75% (1,500 hours) of which must be from appraisals of residential properties listed on the Appraisal Experience Report.

     

• New York State Certified Residential Appraiser.

  • Authorization

    Allows an individual to appraise real property consisting of 1-4 residential units without regard to transaction value or complexity.

  • Educational Requirements

    Complete the required 200 hours of class then take the State exam. In addition, the applicant must hold an Assiciates Degree or higher or 21 college semester hours in the following courses from an accredited college junior college community college or university: English Composition, Principles Of Economics(micro or macro), Finance, Algebra Geometry or Higher Mathematics, Statistics, Introduction to Computers-Word Processing/Spreadsheets, Business or Real Estate Law.

  • Experience Criterion:

    2,500 hours of experience over a period of not less than 24 months is required, 75% (1,875 hours) of which must be from appraisals of residential properties listed on the Appraisal Experience Report. Residential experience must contain experience in single family (including single co-op or condo), two-four family, or other residential experience (vacant lot/farm). 80% (1,500 hours) of the residential experience must be in the single family category. 10% (187.5 hours) of the residential experience must be in each of the two remaining categories.
    

• New York State Certified General Appraiser.

  • Authorization

    Allowed to appraise any type of real property.

  • Education Requirements

    Complete the required 300 hours of class then take the State exam. In addition the applicant must hold a Bachelors Degree or higher or 30 college semester hours in the following courses from an accredited college junior college community college or university: English Composition, Micro Economics, Macro Economics, Finance, Algebra Geometry or Higher Mathematics, Statistics, Introduction to Computers-Word Processing/Spreadsheets, Business or Real Estate Law and two of the following five elective courses: Accounting, Geography, Ageconomics, Business Management, Real Estate.

  • Experience Criterion

    3,000 hours of experience over a period of not less than 30 months is required, 75% (2,250 hours) of which must be from appraisals of general properties listed on the Appraisal Experience Report. General experience must contain experience in multi-family, commercial/industrial, or other (land/manufacturing/institutional). 60% (1,350 hours) of the general experience must be in one of the above categories. 20% (450 hours) of the general experience must be in each of the two remaining categories.

• Appraiser Assistant License.

  • Education Requirements

    NO work experience necessary! NO State exam required! Excellent opportunity to get started. Have a Licensed or Certified Appraiser sign the statement that is attached to the application. File an application and submit a fee of $275.00. Complete 150 hours of appraisal courses, which would be: R5, R6, R7, R8, R9, R10 & USPAP.

    Note: Experience must be obtained within the 5-year period prior to submission of your application. To assure consistency and fairness in evaluating appraisal experience, the Department of State will use an "hourly system" that will serve as a guideline. The hourly system takes into consideration the number and type of appraisals performed and hours worked (including travel). However, applicants who claim mass appraisal experience have a waiver of the 5-year rule if they apply for licensure or certification before January 1, 2001.

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What is considered acceptable experience for the appraisal certification?

If you have performed at least 75% of the work associated with the appraisal (including preparation of the appraisal report), you will receive full credit for the appraisal even if the work was reviewed by a supervising appraiser who signed the report.

If you have performed a review appraisal, whether a field review or a documentary review and/or both, you will receive 25% of the points normally allotted for that appraisal.

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What is considered unacceptable experience?

Market value estimates, that is, a Comparative Market Analysis, Mass Appraisal for ad valorem tax purposes, business appraisal (commercial property not included), personal property, feasibility or market analysis (not market analysis of a proposed real estate project), and less than 75% of the work associated with the work or real estate.

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Will I receive equivalency credit for courses taken before NYS Certification qualifying courses were instituted?

NYS is continually updating the list of courses acceptable to the State, If yours is not on the list, submit a transcript and an outline from previous courses. Attach it to your application.

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What is the difference in qualifications for the NYS licensed Real Estate Appraiser and Certified Residential Appraiser?

The number of hours of education are different. Exam and experience are the same. All three require the National USPAP course which is 15 hours.

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May I receive Continuing Education Credit toward my Real Estate License for the Appraisal qualifying course?

Yes, Real Estate Education Center provides this benefit. To our knowledge, no other institution in this area offers it. Our Residental-1, 2, 3, & 4 (R-1, 2, 3 & 4) allows you to take the course and receive full CE credit provided you pass the exam. We will qualify other courses as the need arises. What Appraisal courses is Real Estate Education Center offering?
Real Estate Education Center currently offers Residential Appraisal series R-1, R-2, R-3 and R-4 totaling 105 hours and Ethics and Standards of Professional Practices (E/S) (15 hours) for a total of 120 hours. In addition, we offer the General (Commercial) Appraisal series - G-1, G-2, and G-3 (90 hours), as well as Using HP 12C in Real Estate Appraisal (5 hours.) What other courses is Real Estate Education Center offering? Real Estate Education Center offers the Salesperson's and Broker's qualifying courses, during the daytime and evenings continuously, and many other career-building Continuing Education courses.

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