Becoming a certified appraiser can be a challenge for some. The challenge lies in the pre screening, training and the exam that you must pass to become certified. In this article we will go over how to become a certified appraiser so you can start making business.
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Becoming a certified appraiser is a long and arduous process. It takes time, dedication, and focus to complete all the necessary steps. But if you’re passionate about helping people get access to the best loan products at reasonable rates, it might be worth it for you.
Here are some tips on how to become a certified appraiser:
1) Get your education in place
You need an undergraduate degree from an accredited college or university before you can take any appraisal courses or exams. Most states require appraisers to hold a bachelor’s degree in real estate appraisal or business administration with a concentration in finance or economics. A few states also require applicants to pass an exam before they can become certified appraisers.
2) Complete a formal appraisal training program
After you’ve been accepted into an approved training program, it will take three years of study before you can take the required exam to become certified by the Appraisal Foundation (the organization that sets standards for appraisal practices). The program consists of both classroom-based instruction and hands-on practice; most students must pass exams on topics like value theory and appraisal techniques before becoming eligible for certification exams.
How to become a certified appraiser
Get a high school diploma or GED
Before you can become a certified appraiser, you’ll need to have a high school diploma or GED. GED stands for “General Educational Development.” A GED is an alternative way of getting your high school diploma if you’ve been out of school for a while or didn’t finish high school the first time around. You can take the test in person at locations throughout the country, or online through various providers.
The tests cover four subjects: reading, writing, math and science; they’re timed; and they’re scored on a scale of 200-800 points (600 is passing). Your scores will determine whether you pass or fail overall as well as in each subject area (you must pass all four). If you want your GED credential immediately after taking the test, make sure that’s an option at the testing center where you sign up!
Take three university-level courses in art history, economics, finance or business.
Take three university-level courses in art history, economics, finance or business. These courses can be taken at any accredited college or university. You can take the classes online and you don’t have to be enrolled in a degree program to take them as continuing education classes.
Complete an apprenticeship.
An apprenticeship is an opportunity to get practical experience in a field through on-the-job training. Many states require that you have completed an apprenticeship program before you can become licensed, though some only require it of certain professionals (such as real estate appraisers).
An apprenticeship typically lasts anywhere from six months to several years and requires that the apprentice work under the guidance of a master craftsman, or senior professional. Apprenticeships are great for people who don’t want to go to college, but still want to learn their trade through hands-on experience. They’re also good for people who struggle with sitting in classrooms due to attention or auditory processing issues; instead of spending time taking tests and writing essays about subject matter they’ve heard before (and haven’t fully grasped), apprentices will spend their time learning how things work by actually doing them—and then using those skills later on in their careers.
Pass a background check.
All appraisers are required to undergo a criminal background check. This process usually takes two to three weeks and can be done by mail, phone or internet. Sometimes an appraisal firm will do the check in person at your home if you live out of state.
Get certified.
Getting certified is voluntary and not required to become a real estate appraiser. However, it can help in getting the job done by ensuring that you have the necessary knowledge and expertise to perform the work.
Certifications are issued by appraisal organizations such as the Appraisal Institute and Society of Real Estate Appraisers (SREA). Both organizations offer multiple certification levels: Certified Residential Appraiser (CRA), Certified General Appraiser (CGA), Certified Senior Appraiser (CSa) and so on. There are also specialized certifications for high-value properties such as Historic Preservation and Automobile Dealerships.
The most rigorous is the CAPP—Certified Appraiser of Personal Property—which requires college degree in an appropriate field plus four years of practical experience or one year with two years’ continuing education credits within a five-year period after obtaining your degree or license.
Becoming a certified appraiser requires a good bit of schooling and on-the-job experience but it is possible to do with the right commitment.
Becoming a certified appraiser requires a good bit of schooling and on-the-job experience but it is possible to do with the right commitment. Appraisers work for government agencies, banks, real estate firms and other businesses that need to assess the value of property. The job market for appraisers is strong, especially in urban areas where there are significant numbers of older or historic buildings.
The benefits of becoming a certified appraiser include higher pay rates than those who are not certified; job security due to the need for qualified professionals; travel opportunities if you are interested working outside your home area; the chance to meet people from many different occupational backgrounds; and more freedom at work because you’ll be able to decide what kind of properties you want to evaluate instead of being required by management duties such as sales activities or administrative tasks like filing reports every month which may not suit your personality type well enough.”
