If you are interested in getting your Appraisal License, BKREI offers an extensive list of courses that are required by the State Appraisal Board.
An appraiser develops and reports an opinion of value on a specific type of property. Appraisers may opt to specialize in various disciplines such as: Real Property Appraisal, Personal Property Appraisal, Business Valuation or Mass Appraisal.
While most appraisers specialize in just one area of practice, some appraisers represent more than one discipline.
There are three classifications for appraisers:
- Appraiser Assistant License (no experience required)
- Certified Residential Appraiser (appraises 1-4 unit residential properties)
- Certified General License (appraises all types of real property)
*For specific questions about requirements for your Appraisal License, you must contact the State Appraisal Board. Click on the following link to get state-specific information: Appraisal Foundation State Directory
What Is An Appraiser?
An appraiser is one who develops and reports an opinion of value on a specific type of property. Appraisers may opt to specialize in various disciplines such as:
Real Property appraisal, which is the valuation of real estate. Real Property appraisers can choose specialties to practice within such as residential, commercial and agricultural. Personal Property appraisal, which encompasses all types of personal property such as fine and decorative arts, antiques, gems and jewelry and machinery and equipment. Business Valuation which is the valuing of businesses including all tangible and intangible assets ranging from the value of the equipment to the value of the business name or logo. Mass Appraisal which encompasses techniques that are used when valuing multiple types of real property or personal property using general recognized formulas.
While most appraisers choose to specialize in just one area of practice, many appraisers practice in more than one discipline.
The Appraiser Qualifications Board (AQB) of The Appraisal Foundation recommends the following minimum criteria for state licensed/certified real property appraisers.
Appraiser Assistant License
This classification requires the trainee to work under the direct supervision of a certified or licensed real property appraiser. The scope of practice for the appraiser trainee classification is the appraisal of those properties, which the supervising appraiser is permitted to appraise.
The “Appraiser Assistant License/Trainee Real Property Appraiser” – no experience required. Applicant must provide proof of 150 classroom hours appraisal education completed during last ten years, including 15 hours of the Uniform Standards of Professional Appraisal Practice during last two years. Trainee’s appraisal experience must be under the direct supervision of a Licensed or Certified Real Property appraiser. If the Trainee plans to use these experience points as part of the experience needed for licensure, the work must be included in the Trainee’s assignment log, and the appraisal report must be signed by the supervising appraiser.
NYS Certified Residential Real Estate Appraiser is able to appraise residential property of 1-4 units, without regard to transaction value or complexity.
This classification refers to those individuals licensed by the Board as being qualified to perform federally-related residential real estate appraisals on 1 to 4 unit residential properties without regard to the complexity or dollar amount. These appraisers are also permitted to appraise non-residential properties having a transaction value of $250,000 or less. The Certified Residential Real Property Appraiser is authorized to give a “certified appraisal” on a federally-related transaction in accordance with FIRREA requirements.
Applicant must have been an appraiser in two of the last five calendar years, with a minimum of 250 points of actual appraisal experience, which represents approximately 2500 hours. Applicant must provide proof of satisfactory completion of at least 200 in-class hours appraisal related courses taken during last ten years, that includes a 15-hour Uniform Standards of Professional Appraisal Practice course taken during the last two years.
NYS Certified General real estate Appraiser is able to appraise all types of real property.
This classification shall consist of those persons certified by the Board as qualified to perform appraisals on all types of real estate, regardless of complexity or transaction value. This classification allows the appraiser to give a “certified appraisal” on a federally-related transaction in accordance with FIRREA requirements.