Level 1 Appraisal Trainee:
This level is the beginning level for a career in appraisal. There is no prerequisite experience at this level.
To "qualify" to become an Appraisal Trainee, a person must complete the required education: 75 hours of state-approved coursework usually consisting of Basic Appraisal Principles, Basic Appraisal Procedures and the 15-hour USPAP.
This level is also referred to as Registered Appraiser, Apprentice Appraiser or Beginning Appraiser. As an Appraisal Trainee, you must be under the direct supervision of a Certified Appraiser at all times.
To see the list of states for which CWS offers Qualifying Appraisal Education, Click Here.
Level 2 Licensed Residential Appraiser:
In some states this level of appraiser is referred to as a Licensed Appraiser. Prerequisites include: Additional 75 hours of education is required to reach this level as well as 2,000 hours of experience accrued in no less than a year.
Candidates must also pass an AQB-approved Licensed Residential Real Property Appraiser exam. As of 2015, 30 hours of college-level coursework will also be required to qualify for this level.
Licensed Residential Appraisers can provide unsupervised appraisals of non-complex residential properties that are 1 to 4 units, less than $1 million and also complex 1 to 4 unit residential properties whose market value falls below $250K.
Level 3 Certified Residential Appraiser:
As with a career in real estate, appraisers don't have to keep a strict 9-5 schedule. This can be beneficial for parents who require flexible schedules.
Prerequisites include: A minimum of 200 hours of appraisal education and training, including 15 hours of ethics and standards of practice, 2,500 hours of experience in appraisal and the successful completion of Level B licensing examination.
As of 2015, a bachelor's degree from an accredited institution will be required as a prerequisite for the Certified Residential Appraiser level (also referred to as the Certified Residential Real Property Appraiser).
Level 4 Certified General Appraiser:
Achievement of this highest level of appraiser is required in order to perform appraisals unsupervised on commercial properties.
To become a Certified General Appraiser, a person must have 300 (minimum) hours of appraisal education and training, 3,000 hours (including 1,500 hours non-residential) of appraisal experience and successfully complete and pass the Level C certification examination. This level also requires that the candidate have a bachelor's degree.
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75 hours of education
Must be under supervision of Certified Appraiser
Licensed Residential Appraiser
Additional 75 hours of education + 2,000 experience hours
As of 2015, 30 hours of college coursework
Certified Residential Appraiser
200 hours of education (including 15 hours of ethics and standards of practice) + 2,500 hours of experience
As of 2015, bachelor's degree
Certified General Appraiser
300 hours of education + 3,000 experience hours (including 1,500 non-residential)