College Degree Alternative and Shorter Experience Time Proposed
In the future, it could become much easier for trainees and licensed appraisers to become a certified appraiser. The Bachelor’s Degree requirement could disappear and the minimum required experience could be slashed as much as half. A recent proposal by the Appraiser Qualifications Board of the Appraisal Foundation would, if adopted, result in “requirements that are less stringent than those currently in effect” and “would go into effect immediately.”
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BACHELOR’S DEGREE ALTERNATIVES
Trainees could still use a Bachelor’s Degree as part of their qualifications for certification, but would have 4 other options to include an Associate’s Degree in certain subjects, no degree but 30 semester in hours in certain subjects, no degree but 30 semester hours gained via CLEP examinations, or a combination of these options.
Licensed Appraisers who have been licensed at least 5 years without certain disciplinary actions within 5 years will be provided an alternative to the Bachelor’s Degree requirement.
SHORTER EXPERIENCE REQUIREMENTS
- Licensed Residential – 2000 hrs – 1 year min
- Certified Residential – 2500 hrs – 2 year min
- Certified General – 3000 hrs – 2.5 year min
- Licensed Residential – 1000 hrs – 6 month min
- Certified Residential – 1500 hrs – 1 year min
- Certified General – 3000 hrs – 1.5 year min
A GREAT TIME TO BECOME AN APPRAISER
With a lower qualifications requirements proposed, in addition to a national appraiser shortage, a trend of increasing appraisal fees, and NC law requiring customary and reasonable fees, now is a great time to consider becoming a real estate appraiser.
WHAT’S YOUR OPINION?
The written comment period on the proposals listed in this article ends January 18, 2018. The AQB will accept verbal comments at its February 1, 2018 meeting. Comments will be placed on the Appraisal Foundation’s website for public viewing.
What do you think about the proposed changes? Why?