How to Become an Appraiser in Colorado

If you want to become an appraiser in Colorado, you must be licensed by the state. The process can be complicated and time-consuming, but it’s worth it if you want to work as a real estate appraiser. To get started, follow these steps:

Step 1: Get Your Education

First things first: You have to have some education. You’ll need at least a bachelor’s degree in a related field like business administration or finance. If your degree is not related to real estate or finance, you may be able to substitute work experience for education; talk with your school’s career services office about this option. If you don’t have any formal training in real estate appraisal, consider taking courses through a local community college or university that offer courses specifically designed for people who want to become appraisers. These courses will help prepare for the exams required by the state of Colorado and give you some hands-on training as well.

Step 2: Take Your Exams

The first step toward becoming an appraiser is passing two exams: one given by the National Association of Realtors (NAR) and another given by the Appraisal Institute of Colorado (AIC).

How To Become An Appraiser In Colorado

The Colorado Board of Real Estate Appraisers has established the minimum educational requirements for an appraisal license. The minimum educational requirements include the following:

Licensed Appraiser

1. Complete at least 150 hours of appraisal education and training, including 15-Hour National USPAP, Basic Appraisal Procedures, Basic Appraisal Principles, Residential Market Analysis & Highest & Best Use, Residential Appraiser Site Valuation & Cost Approach, Residential Sales Comparison and Income Approaches, and Residential Report Writing and Case Studies
2. Obtain 1,000 hours of appraisal experience over at least 6 months
3. Pass the Level A appraiser licensing examination. The Licensed Appraiser exam must be repeated for this requirement if more than one year has elapsed since passing it for the registered appraiser level. College-level requirements: Associate degree or higher. In lieu of the required degree, 21 semester credit hours covering the following subject matter courses: English Composition; Principles of Economics (Micro or Macro); Finance; Algebra, Geometry

Certified Residential Appraiser

1. Complete least 200 hours of appraisal education and training, including 15 hours of ethics and standards of practice; 2,500 hours (including 1,500 hours non-residential) of appraisal experience across at least 30 months; and passing the Certified Residential Appraiser examination.

College-Level Requirements

Associate degree or higher. In lieu of the required degree, 21 semester credit hours covering the following subject matter courses: English Composition; Principles of Economics (Micro or Macro); Finance; Algebra, Geometry or higher mathematics; Statistics; Computer Science; and Business or Real Estate Law.

Certified General Appraiser

1. Complete at least 300 hours of appraisal education and training, including 15 hours of ethics and standards of practice; 3,000 hours (including 1,500 hours non-residential) of appraisal experience across at least 30 months; and passing the Certified General examination.

College-Level Requirements

Bachelors degree or higher. In lieu of the required degree, 31 semester credit hours covering the following subject matter courses: English Composition; Principles of Economics (Micro or Macro); Finance; Algebra, Geometry or higher mathematics; Statistics; Computer Science; and Business or Real Estate Law; and 2 elective courses in accounting, geography, ag-economics, business management, or real estate.

PLEASE NOTR

Fifteen (15) hours of Uniform Standards of Professional Appraisal Practice are required prior to becoming any level of Appraiser.

Colorado Appraisal Regulatory Agency

Colorado Board of Real Estate Appraisers
Marcia Waters:

1560 Broadway, Suite 925
Denver, CO 80202
(303) 894-2166 x 319

Recent Changes to Real Property Appraiser Qualifications

Beginning January 1, 2015, the AQB has made significant changes to appraisal qualifications. Some states may choose to implement the changes sooner, so be sure to check with your state regulator.

Several important changes are outlined below, with complete details available on this AQB publication:

UPCOMING CHANGES TO REAL PROPERTY APPRAISER QUALIFICATIONS 

IMPORTANT CHANGE: Increased College Degree Requirements

IMPLICATIONS: After January 1, 2015, you must hold a bachelor’s degree to obtain the Certified Residential license level or beyond. If you achieve this license level prior to January 1, 2015, you will be grandfathered in under the old regulations.

IMPORTANT CHANGE

Experience Hours are Required BEFORE taking the licensing exam.

Implications: For the Licensed, Certified Residential and Certified General license levels, the required coursework must be completed prior to taking the licensing exam. If you intend to upgrade your license prior to the January 1, 2015 rules change, you need to be sure that you have enough time to complete your experience hours.