Sunday, February 22, 2009

Get a real estate appraiser's license

First off you will need to take certification courses. The appraisal foundation has some requirements in terms of what hours of class work you need. These requirements are outlined in USPAP-the uniform standards of professional appraisal. One school, The Anthony Schools (owned by the Kaplan Company), actually has some the best programs to be completed in a short time frame with the appropriate sequence of courses (USPAP course required) and high passing rate for the appraisal exam.

After you complete your courses you will need to sign up for the test. You will need to submit your course records to the Office of real estate Appraisers (OREA) in Sacramento along with live scan report and a check. It'll take about 90 days to process. In the meantime, start searching for jobs with a real estate appraisals firm because at some point you will need to have a supervisor sign off on your reports. Depending on what you're interested in, you can align yourself with commercial properties firm or residential. The difference in reportage is that commercial properties tend to be a lot more complex and less straightforward than residential but overall has a higher rate of pay from most lending institution for reportage services.

Once you become aligned with a firm you can determine how many hours should be spent on getting certified (certified general tends to take longer than certified residential). It would also be a good thing to let your employers know that you're nearly set to be a trainee--that way you can rise up the ranks a bit faster than others in the office who have been kicking around with the idea of becoming an appraiser in their heads. Once OREA calls you in for testing you should probably take a cram course ahead of time to refresh your memory. Most companies, once employed, will pay for your courses.

After you complete your test you should receive your certificate for appraiser-trainee in the mail. Once you've convinced your boss this is the direction you want to take start logging in those hours. It will take about 2 & 1/2 years (required for certified general) to get this done and anything, from taking comp pictures to property inspections (you won't need a license for this) will help you further along with your hours (about 3000 for CG but check with OREA for the latest on this). At some point when you're actually doing reportage work you will need to include your name and trainee-license number at the end of the report.

Once you get your log signed off from your boss you will need to take 90 more hours of class time. Submit all the information and you should be getting your certificate in the mail. Depending on what you want to pursue you can stay with your company or become a freelance contractor. Either way you'll be able to work from home from now on. Don't forget to renew your license!

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