Appraiser: One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. (USPAP, 2010-11 ed.) U-1, Line 34-35.
Individuals wishing to become certified as a real property appraiser must complete two different but somewhat similar goals. First they must become a Registered Trainee which every appraiser must do, then earn their certification either as a Certified Residential Real Estate Appraiser or as a Certified General Real Estate Appraiser by taking the required courses and earning the appropriate number of credits as prescribed by board rules.
What is the difference between these classifications?
The Registered Trainee is a person who for the first part of their endeavor are supervised on every assignment until the Supervisory Appraiser makes the decision, based on the appraiser's ability, understanding and competency, to allow the trainee to venture out on his/her own and perform appraisal assignments. Board regulations indicate this takes a minimum of 50 points (a "point" is equal to 8.33 hours).
| Offering Title | Hours | Instruction Methodology |
| Basic Appraisal Principles | 30 | In-Class |
| Basic Appraisal Procedures | 30 | In-Class |
| Residential Market Analysis and Highest & Best Use | 15 | In-Class |
| National Uniform Standards of Professional Appraisal Practice |
15 | In-Class |
| TOTAL HOURS | 90 |
The second course in the series is Basic Appraisal Procedures a four-day class that will apply the principles and concepts you learned in the Basic Appraisal Principles course which is the prerequisite for the procedures class. The course will take you step-by-step through the valuation process including defining the problem, collecting and analyzing data, reaching a final opinion of value, and communicating the appraisal. You will learn about the tree approaches to reaching an opinion of value - income capitalization, cost, and sales comparison - apply them in true-to-life case studies and problems. After examining income capitalization methods and formulas, you will learn how rates and multipliers are derived. Through case studies you will discover the steps and concepts involved in the cost approach - how appraisers estimate the cost of constructing a reproduction of or replacement for an existing structure; the three major components of depreciation and methods for estimating and allocating depreciation; and land and site valuation. The course will guide you through the sales comparison approach including researching the market, verifying information, selecting units of comparison, conducting a comparative analysis, making adjustments, and finally, reconciliation. You also will complete key sections of an appraisal report. In addition, the course provides an introduction to property description and construction and design basics.
Market Analysis and Highest and Best Use is the third course in the pre-qualifying series. Prerequisites for this class are the Basic Appraisal Principles and Procedures class. This two-day course identifies market forces affecting buyers and sellers behavior which is key understanding and reporting values. Discover where to find the information you need to make a highest and best use decision and how to interpret the information you find. Get vital instruction in how to read and map a market area segment for a subject property and discover the essential links between market analysis, highest and best use analysis, and the three approaches to value (cost, sales comparison, and income capitalization). Gain practical experience through real world situations and develop or translate theory into practice through extensive and varied classroom activities encouraging you to become actively involved in applying concepts to real-world situations.
The Financial Institutions Reform, Recovery and Enforcement Act of 1989 recognizes USPAP as the generally accepted appraisal standards and requires USPAP compliance for appraisers in federally related transactions. This course is a National USPAP Course with material developed by the sponsoring organizations of The Appraisal Foundation. This two-day course covers basic rules for ethical behavior and competent performance. Successful exam completion completes the pre-qualifying series and provides the student with the opportunity to submit an application package to the NCAB requesting permission to take the state examination and if successful, become a registered trainee.