The Appraisal Professionals
Who is an Appraiser?
An appraiser is a professional that specializes in developing opinions of value for their clients. There are appraisers in many different fields such as machinery, personal property, art, jewelry, and even antique cars. Our practice is real estate and real property.
Individual state appraisal licensing and certification became a requirement about two decades ago for appraisers that work on federally related transactions such as mortgage financing. This was a pretty large shake-up for a mostly unregulated industry and since there were no "grandfather" provisions, experienced as well as novice appraisers attended numerous classes together and took their state exams side by side.
Yes, it's technically true that appraisers don't need to have a state license or certification if their practice doesn't involve working with federally related transactions. We, however view the licensing and certification process as a bare minimum competency requirement of all real estate appraisers. All of the team at The Appraisal Professionals
adhere to state licensing and certification requirements, several of us in multiple states.
To become eligible for state licensing or certification, a person must attend anywhere from 90 to 180 hours of primary education classes and apprentice for 2000 hours of appraisal work experience over a minimum of two years. Upon completion of this criteria, the candidate is then eligible to attempt to pass the exam for the applicable state's testing company. If the candidate passes, they then pay the necessary fees to each state for their actual license or certificate.
Licensed and certified appraisers are also required to attend multiple continuing education classes totaling a minimum of 28 hours during their license cycle of two years. It is extremely important that all real estate appraisers are continually educated, competent and updated with all compliance and regulatory requirements.
In our area, the most popular sources for appraisal education are: Appraisal Institute
, the Massachusetts Board of Real Estate Appraisers
, and JMB Real Estate Academy
. Most of us here have taken several courses over the years from each of these institutions, so they all come highly recommended.