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Appraisal Education
On February 20, 2004, the Appraiser Qualifications Board of The Appraisal Foundation adopted changes to the Real Property Appraiser Qualification Criteria that became effective on January 1, 2008. These changes represent the minimum national requirements that each state must implement for individuals applying for a real estate appraiser license or certification as of January 1, 2008. The educational requirements prior to January 1, 2008 are shown below:
| Current & Prior Required Minimum Appraisal Education Hours |
| |
Current |
Upcoming
(1/1/08) |
| Apprentice Classification |
75 |
75 |
| Licensed Residential Real Property Appraiser |
90 |
150 |
| Certified Residential Real Property Appraiser |
120 |
200 |
| Certified General Real Property Appraiser |
180 |
300 |
The hours shown above all include a requirement to complete the 15 hour National USPAP course.
Until December 31, 2007, the only requirement relating to specific topics is that Certified General appraiser candidates must complete 50 hours of education on "capitalization".
After January 1, 2008, the education for each level will require that a certain amount of time be spent on specific topic areas to be covered by these courses. These are listed below:
| REQUIRED CORE CURRICULUM EDUCATION HOURS EFFECTIVE JANUARY 1, 2008 |
| |
AA |
LR |
CR |
CG |
| Basic Appraisal Principles |
30 |
30 |
30 |
30 |
| Basic Appraisal Procedures |
30 |
30 |
30 |
30 |
| 15-Hour National USPAP Course (or its equivalent) |
15 |
15 |
15 |
15 |
| Report Writing and Case Studies* |
-- |
15 |
15 |
30 |
| Market Analysis and Highest and Best Use* |
-- |
15 |
15 |
30 |
| Site Valuation and Cost Approach* |
-- |
15 |
15 |
30 |
| Residential Sales Comparison and Income Approaches |
-- |
30 |
30 |
-- |
| Statistics, Modeling and Finance |
-- |
-- |
15 |
15 |
| Advanced Residential Applications and Case Studies |
-- |
-- |
15 |
-- |
| General Appraiser Sales Comparison Approach |
-- |
-- |
-- |
30 |
| General Appraiser Income Approach |
-- |
-- |
-- |
60 |
| Appraisal Subject Matter Electives ** |
-- |
-- |
20 |
30 |
| Total Required |
75 |
150 |
200 |
300 |
* There is a different course for residential & general candidates
** Electives may include hours over minimum shown above in other modules
Credit is only granted for the successful completion of courses that are approved by the NHREAB, except that 15 hours of credit will be given for each college credit hour earned at accredited colleges and universities provided those courses are specifically related to real estate appraisal.
Copies of the completion certificates obtained for each class must accompany the application. After January 1, 2008, all applicants will be required to submit a completed course tracking worksheet. Later in the year we will post worksheets for each level of credential.
An applicant who has met the pre-January 1, 2008 education requirements will have until June 30, 2008 to meet the other requirements.
College Degree Requirements
Until December 31, 2007, there are no requirements for a college degree.
After January 1, 2008, applicants for Certified General must possess a Bachelor's degree or an equivalent as specified in the new AQB criteria.
After January 1, 2008, applicants for Certified Residential must possess an Associates degree or an equivalent as specified in the new AQB criteria.
An applicant who has met the pre-January 1, 2008 education requirements will have until June 30, 2008 to meet the other requirements.
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