Ever consider becoming a real estate appraiser or wonder where to start? What is a Real Estate appraiser assistant and where could it lead? Firstly, the appraiser assistant usually works with a supervisory appraiser or a team of appraisers. These assistants generally work in an office setting. Some travel may be possible depending on the employer and position. Moreover, typical employers for real estate appraiser assistants include real estate appraisal companies, realtors and banks.
While many appraisers enjoy the benefits of an independent contractor. For example, positions with but not limited to, firms such as appraisal companies, financial institutions, private review appraisers, and county assessor’s offices are just a few of the many opportunities for employment and on-the-job training.
Levels of the Appraisal Licensee
Most importantly, there are four levels that a professional appraiser can achieve. While the Appraisal Foundation is the national source of Appraisal Standards and Appraiser Qualifications. In conclusion, each state may have different regulations to follow. Make sure you check with the New York State Appraiser board for additional information.
Below is an outline of the different appraisal license levels.
Real Estate Appraiser Assistant
Firstly, this level is not required to have previous appraisal experience. However, you may only perform appraisal duties under the direct supervision of a Certified Residential Appraiser. This is the first step in your career as an appraiser.
Licensed Residential Appraiser
Secondly, this level is able to perform unsupervised appraisals of non-complex, one- to four-unit residential properties. Transaction values less than $1 million and complex one-to four-unit residential properties with a transaction value less than $250,000. This is the next step in the progression of your career as an appraiser.
Certified Residential Appraiser
Thirdly, this level is able to perform unsupervised appraisals of one to four-unit residential properties without regard to transaction value or complexity. This is the most sought-after level of appraisal licensing for residential appraisers. Keep in mind, 85% of all the opportunity is here. Federally chartered loans require the Certified Residential Appraisal.
Certified General Appraiser
Fourthly, this level is able to appraise all types of properties. Appraisers who wish to appraise commercial properties unsupervised must attain this level of licensing. This is the highest level of licensing available in the appraisal profession.
Whether you’re just starting your career as an appraiser or working toward your Certified Residential Appraiser, Manfred Real Estate School has the courses to help you advance in your career via live webinars or in the classroom. We recognize that the laws regulating this business are confusing. This is the reason why all our customer service specialists are very knowledgeable and up-to-date in all the recent changes. Consider becoming a real estate appraiser.