The Education of an Appraiser

We’ve blogged about many different aspects of real estate appraisal, but where does it all begin? What does it take to become a real estate appraiser? And, what should you look for before engaging an appraiser? It can be somewhat confusing, so here is a brief overview of the education of an appraiser.

To become a real estate appraiser in Massachusetts, the first step is getting a trainee license. A trainee license is awarded after the successful completion of 75 hours of appraisal-specific education. This consists of three classes – Basic Appraisal Principles (30 hours), Basic Appraisal Procedures (30 hours), and National Uniform Standards of Professional Appraisal Practice (15 hours). Trainees must attend all of the classes and pass a written exam to receive credit.

After obtaining the license, the trainee needs to find an appraiser to be his or her mentor. This appraiser will teach the trainee the tricks of the trade and help with experience hours that need to be completed. The supervising appraiser signs off on all of the trainee’s work.

Many trainees get jobs at real estate appraisers’ offices, and others choose to pursue trainee positions at banks. Banks hire trainee appraisers who have obtained their trainee licenses directly, and the trainee gets an education and paid at the same time.

Once the required hours are completed, the trainee submits an application to the Massachusetts Board of Registration of Real Estate Appraisers. He or she then takes the real estate appraiser exam, a multiple answer test that covers the full spectrum of knowledge and skill set for a real estate appraiser.

Upon successfully passing the exam, the trainee receives his or her certification and is a licensed Massachusetts real estate appraiser. Different states have different requirements and certifications, and it’s possible for a real estate appraisal company, like Present Value, to be licensed in multiple states.

By: Present Value

Tags: appraiser, certification, education
Posted in Real Estate Appraisal | 1 Comment »