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.”

In the future, it could become much easier for trainees and licensed appraisers to become a certified appraiser.Click To Tweet

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

Current

  • Licensed Residential – 2000 hrs – 1 year min
  • Certified Residential – 2500 hrs – 2 year min
  • Certified General – 3000 hrs – 2.5 year min

Proposed

  • 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.

Our 2018 trainee classes are scheduled to start January in Charlotte, February in Wilmington, and March in Raleigh-Durham.

For more on becoming a trainee and then being certified, visit the NC Appraisal Board or the Appraisal Foundation. Also see this Information Booklet.

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?