You must first become an Appraiser Trainee to become a Real Property Appraiser. An Appraiser Trainee works under the supervision of a Certified Appraiser to appraise those properties that his or her supervising Appraiser is permitted to appraise.
To start your career as an Appraiser Trainee, you must take the following courses for a total of 75 hours.
- Basic Appraisal Principles 30 hours
- Basic Appraisal Procedures 30 hours
- National Uniform Standards of Professional Appraisal Practice (USPAP) Course, 15 hours
A licensed Residential Appraiser may appraise non-complex 1-4 residential units having a transaction value less than $1M and complex 1-4 residential units having a transaction value less than $250,000.
To become a Licensed Residential Appraiser, you must take all the required courses for an Appraiser Trainee plus an additional 75 hours for a total of 150 hours:
- Residential Market Analysis and Highest & Best Use 15 hours
- Residential Site Valuation and Cost Approach 15 hours
- Residential Sales Comparison and Income Approaches 30 hours
- Residential Report Writing and Case Studies 15 hours
Approval #: 0009290
As one of the foundational courses for the appraisal profession, Basic Appraisal Procedures builds on the Basic Appraisal Principles course and introduces the steps for appraising all types of real property. Your instructor will review the three approaches to value, including: the Cost Approach, Sales Comparison Approach, and the Income Capitalization Approach. Each of these approaches are broken down and explored in the chapters with real-world examples. This course concludes with a three-hour proctored exam that must be taken in a monitored setting.
Basic Appraisal Principles
Hours: 30 hrs.
Approval #: 0009291
As one of the foundational courses for the appraisal profession, Basic Appraisal Principles provides an in-depth look at real property concepts, characteristics and legal descriptions with particular focus on how those influence real estate values. Your instructor will detail the different types of values and the economic principles that affect the real estate market, as well as the methods used to analyze those markets and the ethical norms that guide appraisers through the valuation process. The course concludes with a three-hour proctored exam that must be taken in a monitored setting.
Residential Sales Comparison and Income Approaches
Hours: 30 hrs
Approval #: 0009289
With a focus on two of the primary approaches used to value real property, this course reviews the income property principles that affect the appraisal of residential properties. Interactive problems and case studies help illustrate the key concepts in practical ways. In addition, this course sets a foundation for more advanced general appraiser classes by touching on the principles of income capitalization.
Following the course material is a mandatory three-hour proctored exam that must be taken in a monitored setting. An HP12C calculator is also required for certain portions of this course.
All Applicants must take:
3-hour Florida Appraisal Laws course
15-Hour National USPAP Course at http://www.myappraisalinstitute.org