When most people think of a career in real estate, they think of earning a real estate license and launching a career as a real estate agent, but there are other real estate careers with a strong outlook for the future. If sales is not the career for you, consider getting a real estate appraiser license.
Benefits of Becoming a Real Estate Appraiser
Whether you’re considering a career change or looking for new opportunities in the real estate industry, becoming a certified real estate appraiser could be the perfect path for you. Unlike traditional roles in real estate sales, a career as an appraiser offers unique benefits and growth potential.
There are so many diverse benefits in this dynamic profession, including:
- Lucrative income potential
- Flexible work schedule
- Opportunities for career advancement
- High demand for skilled professionals
- Ability to work independently or as part of a team
What Are the Qualifications for Obtaining a Real Estate Appraisal License?
Qualifications could not be simpler. Although the specifics can vary from state to state, every state requires a 15-hour USPAP course, plus 75 to 150 additional course hours, before you are eligible to take the real estate appraisal license exam.
How to Become a Real Estate Appraiser in 5 Steps
Let’s outline the process of becoming a real estate appraiser.
1. Complete appraisal pre-licensing courses.
The first step to becoming a real estate appraiser is to complete pre-licensing courses. These courses cover essential topics such as appraisal principles, procedures, and ethics. Many states require a specific number of course hours, typically ranging from 75 to 150 hours, to qualify for the appraisal license exam. Fortunately, accredited online schools offer flexible options to complete these courses at your own pace, making it convenient to balance your education with other commitments.
2. Become a trainee appraiser.
After completing the pre-licensing courses, aspiring appraisers must become trainee appraisers. This involves finding a certified mentor to supervise and guide you through the appraisal process. You’ll gain valuable hands-on experience and insights into the profession as a trainee.
Choosing a mentor with a strong reputation and extensive experience in the field is essential to maximize your learning opportunities and prepare for the next steps in your career.
3. Take a trainee exam.
Once you’ve secured a mentor, you may need to pass a trainee exam administered by your state’s appraisal board. This exam assesses your understanding of appraisal principles and practices and ensures you’re prepared to begin your training.
Be sure to review the exam requirements and study diligently to increase your chances of success. Passing the trainee exam is a significant milestone on your journey to becoming a certified real estate appraiser.
4. Log 1,000 hours with a mentor.
As a trainee appraiser, you’ll need to log a minimum of 1,000 hours of supervised experience under the guidance of your mentor. During this apprenticeship period, you’ll apply the knowledge and skills acquired in your pre-licensing courses to real-world appraisal assignments. It’s essential to actively participate in appraisal projects, ask questions, and seek feedback from your mentor to enhance your proficiency and confidence as an appraiser.
5. Pass the appraisal examination.
The final step towards obtaining your real estate appraiser license is to pass the appraisal examination. This comprehensive test evaluates your understanding of appraisal principles, valuation techniques, and regulatory standards. Prepare for the exam by reviewing course materials, practicing sample questions, and seeking guidance from experienced professionals.
Upon passing the exam, you’ll officially become a certified real estate appraiser, ready to embark on a rewarding career in the real estate industry.
How to Get Your Real Estate Appraiser License
In most states, you can find an approved online real estate school to complete your educational requirements at your own pace when it suits your schedule. Compared to many college degree programs that can put you deep in debt, the education required to earn a real estate appraisal license is significantly less than a single college course. With the anticipated growth in the field of real estate appraisals and the convenience and affordability of starting your career, it is an ideal time to consider getting a real estate appraisal license.
