So… you
want to become an appraiser?
I have
been an appraiser since 1986, I love what I do and I hope to do it for the rest
of my life. I am always being contacted by people who would like to become an
appraiser. Remember, the grass is always greener on the other side of the
fence. If you are truly drawn to the action packed lifestyle of a real estate
appraiser, I have an offer for you: take me out for lunch and I’ll answer any
questions you have. As I said, I love what I do and I love talking about
it.
If that
seems too scary, what follows is the free version of what you need to know. In
a prior life, I was responsible for the training of a lot of appraisers.
I can tell you there is a big learning curve. There are three things to keep in
mind:
Yes,
you must have permission from the state you will be working in to be an
appraiser. You may call it a license if you’d like, but remember, a license is
simply a revocable permission. Contact the agency in your state that
administers appraiser licensure for the procedures you must follow to get permission.
Here are some links:
New
Hampshire: http://www.state.nh.us/nhreab/
Massachusetts:
http://www.state.ma.us/reg/boards/ra/default.htm
Maine: http://www.state.me.us/pfr/olr/categories/cat37.htm
As you
will learn from the licensing agency, there are mandatory education
requirements. These classes will only teach you the fundamentals. You will
probably also keep learning throughout your career (if you are any good). There
are a lot of accredited schools out there. I have no doubt that many will give
you the education you need. I will only recommend one though: http://www.appraisalinstitute.org/education/edsched.asp.
Make sure to
rummage around on the Appraisal Institute’s site; you’ll find more info on
becoming an appraiser.
None of
the courses that you will be required to take will actually teach you how to
appraise; they simply teach the fundamentals. Think of it like driver’s
education, back in high school… there were two parts: the classroom stuff and
the driving practice. What you will learn in your appraisal classes does not
include a practical part. That you must learn in the trenches. Your first
license will be as an apprentice… you will need to associate yourself with an
appraiser who will train you. Sorry, that person isn’t me and unfortunately, I
do not know of anybody who is hiring. That does not mean that nobody is hiring,
it just means that I do not know who is. You are going to have to work the
phone book, ask around when you take your classes, attend monthly meetings of
an appraiser’s association, etc. Here is one job posting web site: http://www.appraisalinstitute.org/resources/positions_available.asp
This
page has a number of pamphlets you can download:
http://www.appraisalinstitute.org/resources/downloads/brochures/Commonly_Asked_Qs.asp
Here is
some info from the folks who make the rules at the Federal level:
http://www.appraisalfoundation.org/s_appraisal/sec.asp?CID=148&DID=206
These
are links to the main websites of some well regarded professional organizations:
http://www.appraisalinstitute.org/
Good
luck!!
Steve