If you are interested in becoming an appraiser in California, there are a few steps you need to take. First and foremost, you will need to become licensed. To do this, you need to pass a test called the Uniform Standards of Professional Appraisal Practice (USPAP) examination. You may also need to take additional courses depending on the type of appraisal you wish to perform (e.g., residential vs commercial).
Once you have passed your exam and taken any required courses, you can begin applying for jobs with real estate firms or banks. The most important thing when applying for these positions is that they require USPAP certification as part of their hiring process. If they don’t require it specifically, then consider another position where USPAP certification will be required as part of the job description.
If you are interested in becoming an appraiser but don’t know where to start or what steps need to be taken before getting started on your career path as one, then contact us today at [email address]!
How To Become An Appraiser In California
California Residential Appraiser License
A licensed real estate appraiser is the first level of licensing for appraising real property without a supervisory appraiser. With this credential, you are able to appraise non-complex one to four family residential units having a transaction value less than one million dollars ($1,000,000), complex one to four family residential units having a transaction value less than two hundred fifty thousand dollars ($250,000) and other types of real property having a transaction value less than two hundred fifty thousand dollars ($250,000) . While most states have adopted this kind limitation for this credential, some states may vary.
As a California licensed real estate appraiser you may find yourself working for an appraisal firm or for yourself as a fee based appraiser. Your clients may be local, such as individuals, lawyers, accountants and small banks, or national clients such as from large appraisal management companies (AMCs), national lenders or government sponsored enterprises (Fannie Mae). Keep in mind, however, that many larger lenders and financial institutions may enlist only certified appraisers to complete their appraisals. The exception is if a certified appraiser accompanies you on the inspection and signs as the supervisory appraiser on the report. Regardless, as a field appraiser, your day will be divided between property inspections and completing research online and at local court houses and/or assessor’s offices. For most purposes you will be completing appraisals for home purchases, refinancing, divorces, estates and portfolios.
Basic Requirements: Must be 18 years or older and submit an application including education, experience, background check and proof of legal presence in the United States
Training Requirements: 2,000 hours of experience in no less than 12 months
Education Requirements: No college-level education required. 150 hours of qualifying appraisal specific education courses are required. Fee: $455.00
State Required Test: Yes
California Certified Residential Appraiser License
A certified real estate appraiser is the second level of California state licensing for the appraisal of real property. It is one above from licensed and one under general certified (commercial). With this credential you are able to appraise all types of non-complex one-to-four family residential property without regard to the transaction value and other types of real property having a transaction value of less than $250,000 (two hundred fifty thousand dollars) (exact limitations may vary by state).
Just like as a licensed real estate appraiser, you may find yourself working for an appraisal firm or for yourself as a fee based appraiser. Your clients may be local, such as individuals, lawyers, accountants and small banks, or national, such as from large appraisal management companies (AMCs), national lenders or government sponsored enterprises.
As a California state certified appraiser, you now meet the requirements of many larger lenders and financial institutions which enlist only certified appraisers to for their transactions. Likewise, as a field appraiser, your day will be divided between property inspections and completing research online and at local court houses and/or assessor’s offices. For most purposes, you will be completing appraisals for home purchases, refinancing, divorces, estates and portfolios.
As a state certified appraiser, you will also qualify for many in-house positions at large financial institutions and AMCs (generally as a review appraiser). Although years of experience is often desired, having the state certification meets one of the basic requirements set by many employers and makes you more qualified than if you only have your license. Check out job postings for real estate appraisers to get an idea of what positions are available, what they entail and their exact requirements and qualifications. Working an in-house position is one of the alternatives to field work and you also get to enjoy salary pay and health benefits.
Basic Requirements: Must be 18 years or older and submit an application including education, experience, background check and proof of legal presence in the United States
Training Requirements: 2,500 hours of experience in no fewer than 30 months
Education Requirements: A Bachelor’s degree or other accepted option from the following:
1) Bachelor’s Degree in any field of study
2) Associates Degree in a field of study related to: Business Administration, Accounting, Finance, Economics; or Real Estate
3) Successful completion of 30 semester hours of college-level courses that cover each of the following specified topics
4) Successful completion of at least 30 semester hours of College Level Examination Program® (CLEP®) examinations
5) Any combination of Option #3 and Option #4 that includes all of the topics specified in Option #3
6) No college-level education is required. This option applies only to appraisers who have held a Licensed Residential credential for a minimum of five (5) years and have no record of any adverse, final, and nonappealable disciplinary action affecting the Licensed Residential appraiser’s legal eligibility to engage in appraisal practice within the five (5) years immediately preceding the date of application for a Certified Residential credential.
200 hours of qualifying appraisal specific education courses are also required. Fee: $505.00
State Required Test: Yes
After you obtain yourstate certification, you may desire to appraise commercial property. For this you will seek the certified general appraiser credential.
California Certified General Appraiser License
A certified general appraiser is the highest level of licensing. He or she is able to appraise all types of property – residential or commercial – with no value limit. Typically, these appraisers will spend the majority of their time appraising commercial properties. The type of appraisal could vary from a small, one-story office building valued at $250,000 to a high-rise apartment building with a value of $20,000,000.
The main differences between a certified appraiser and certified general appraiser are many additional hours of coursework and 1,500 of commercial appraising (non-residential) experience under a certified general appraiser, and a bachelor’s degree. Commercial appraisals are much more complex and time consuming and require far more research. There is far less margin of error. The intended user of the appraisal may be basing a significant business decision on the outcome and an erroneous appraisal could result in a loss of millions of dollars. As a result, the requirements to become a certified general appraiser are more stringent.
As a California certified general appraiser, you will typically work in a small to medium sized firm devoted to commercial work. You may but rarely will complete residential assignments. But if you do decide to complete residential appraisals you can (just like licensed or certified appraisers) do work for local and national clients devoted to residential transactions.
Basic Requirements: Must be 18 years or older and submit an application including education, experience, background check and proof of legal presence in the United States
Training Requirements: 3,000 hours of experience in no fewer than 30 months. 1,500 of those hours must be in non-residential experience.
Education Requirements: Bachelor’s degree or higher and 300 hours of qualifying appraisal specific education courses. Fee: $505.00
