License Requirements - Real Estate Appraisers, Appraisal Management Companies and Home Inspectors
Appraiser Classifications
Licensed Real Estate Appraiser: May provide appraisal services in federally related transactions with:
- Non-complex one to four unit residential properties with a transaction value less than $1,000,000;
- Complex one to four unit residential properties having a transaction value of less than $250,000; and
- Commercial properties having a transaction value of less than $250,000
Certified Residential Real Estate Appraiser: May provide appraisal services in federally related transactions with:
- One to four unit residential properties without regard to value or complexity; and
- Commercial properties having a transaction value of less than $250,000
Certified General Real Estate Appraiser: May provide appraisal services in federally related transactions with all types of residential or commercial real property without regard to value or complexity
Appraiser Trainee: Must work under the supervision of a supervising certified appraiser
Home Inspector Classification
Home Inspector: A home inspector is an individual who provides home inspection services for compensation. A licensed home inspector means an individual who is licensed by the Commission to provide home inspection services. Home inspection means a written evaluation of one or more of the components of an existing residential building, including the heating system, cooling system, plumbing system, electrical system, structural components, foundation, roof, masonry structure, exterior and interior components, or any other related residential housing component (see the Minimum Standards of Practice and Code of Ethics).
License Qualifications
Each licensed and certified appraiser category requires the applicant to meet the following requirements in order to be eligible to take the respective real estate appraiser examination:
Licensed Real Estate Appraiser: Applicant must have completed 150 hours of courses approved by the Commission and compiled at least 1,000 hours of appraisal work experience over a period of at least 6 months.
Certified Residential Real Estate Appraiser: Applicant must have completed 200 hours of courses approved by the Commission and compiled at least 1,500 hours of appraisal work over a period of at least one calendar year (12 months).
Certified General Real Estate Appraiser: Applicant must have completed 300 hours of courses approved by the Commission, hold a bachelor's degree or higher, and compiled a minimum of 3,000 hours of appraisal work over a period of at least 1 1/2 years (18 months), at least 1,500 hours of which in non-residential real property appraisal work.
Appraiser Trainee: Within the five-year period prior to the date of submission of an application for a real estate appraiser trainee license, an applicant must have completed 75 tested hours of Commission-approved real estate appraisal courses, of which 15 hours must be in the subject of the Uniform Standards of Professional Appraisal Practice and a Commission-approved course oriented toward trainee appraiser expectations and responsibilities.
Home Inspector: An applicant for a home inspector license must complete a 72-hour on-site home inspector training course approved by the Commission and pass the National Home Inspector Examination and provide evidence of having obtained a high school diploma, GED or proof of higher education.
In order to receive a license, you will be required to remit a license fee in the amount of $325, along with proof of having general liability insurance in the amount of at least $150,000.