Real estate appraisal is a hot career because it provides solid income potential with no college degree required.
As a certified appraiser in Florida, you’ll likely earn around $76,000 per year, which is the average amount for the state. But those in the top ninetieth percentile are earning more like $116,580 per year! When you choose to work independently, you set your own hours and can unlock your income potential. But if you’d prefer stability to big bucks, you can always take a job with an appraisal firm.
As long as you are at least 18 years old, have a social security number, and have a high school diploma (or equivalent), you meet the basic requirements to be a Florida appraiser. Now you just need to follow these simple steps.
Appraisers play a vital role in determining the value of real estate properties If you are interested in a career that allows you to work independently, utilize analytical skills, and gain expertise in real estate markets, becoming an appraiser may be an ideal path for you
In this comprehensive guide we will walk through the key steps and requirements for starting your career as a real estate appraiser.
What is a Real Estate Appraiser?
Real estate appraisers analyze properties to determine their fair market value. Appraisals are needed to facilitate real estate transactions secure financing, divide assets in court cases calculate property taxes, and more.
Appraisers inspect properties inside and out, research market data on comparable sales, and consider factors like location, condition, renovations and demand. They synthesize data into a final estimate of value for the property.
Appraisers often specialize in commercial or residential appraisals. Niche specialties also exist like agricultural, industrial or right-of-way appraising. Self-employed appraisers may work for banks, attorney’s offices, individuals or real estate firms.
Key Steps to Becoming an Appraiser
Follow these steps to launch your appraisal career:
1. Earn the Required Education
All appraisers must complete qualifying education to apply for a state license or certification. Required coursework covers topics like valuation methods, reporting, standards and ethics.
Education minimums range from 75-300 hours depending on your desired credential level. You can complete classroom, online or distance education courses from approved providers.
2. Gain Supervised Experience
In addition to education, you will need experience working under the supervision of a state-certified appraiser. This allows you to gain hands-on training in the appraisal process.
Some experience requirements can be fulfilled through a practicum course involving simulated appraisals. The amount of experience needed ranges from 1,000-3,000 hours depending on the license type.
3. Choose Your Credential Path
There are several appraiser credential levels with varying permitted scopes of work. Consider your long-term career goals. Common options include:
- Trainee Appraiser
- Licensed Residential Appraiser
- Certified Residential Appraiser
- Certified General Appraiser
Review your state’s specific credential requirements and determine your desired path.
4. Check Your State’s Licensing Laws
Licensing requirements are established at the state level. Contact your state’s appraiser regulatory agency to confirm requirements and process. Some states have more stringent criteria beyond the national minimums.
5. Pass the National Licensing Exam
After completing your education and experience, you must pass the National Uniform Licensing and Certification Examination to earn your appraiser license. Exam fees apply.
6. Earn Your License
With all requirements met, apply for your appraiser license/certification through your state appraiser regulatory agency. Fees and forms vary by state. Congrats – you can now begin your appraisal career!
7. Seek Out Continuing Education
Active appraisers must complete continuing education periodically to renew their license. This education keeps your valuation skills sharp.
Educational Pathways to Becoming an Appraiser
Let’s explore the standard education requirements at each appraiser licensure level in more detail:
Trainee Appraiser
Aspiring appraisers can work under supervision to gain experience before completing education. Trainees must take a course in basic appraisal principles and pass a background check.
Licensed Residential Appraiser
To appraise simple residential properties under $1 million, applicants need 150 hours of appraisal education. Topics include valuation methods, property types, ethics and residential report writing.
Certified Residential Appraiser
This credential, which allows appraising of dwellings up to $4 million, requires 200 educational hours. In addition, applicants need college coursework equivalent to an associate’s degree or higher.
Certified General Appraiser
For appraising properties of all types and values, the education requirement is 300 hours. Applicants must also hold a bachelor’s degree to qualify for this top-tier credential.
Gaining Valuable Appraisal Experience
In addition to education, appraisers gain experience through hands-on training under supervision. Here are options for obtaining required experience hours:
- Traditional Supervision – Work under a state-certified appraiser who oversees your reports
- Practical Applications of Real Estate Appraisal (PAREA) – Part-time training program under supervising appraiser
- Practicum Courses – College courses involving simulated appraisals, sometimes using case studies
Documented hours spent on activities like creating reports, observing inspections, researching markets and analyzing comparables count toward your experience minimum.
Choosing Your Appraiser Specialty
Within real estate appraisal, consider focusing on a specific specialty like:
- Residential – Valuing single-family homes, condos, townhomes
- Commercial – Appraising apartments, retail, offices, industrial properties
- Right-of-way – Assessing property values for public domain use
- Litigation – Supporting settlement of disputes through appraisals
- Business Valuation – Appraising equity value of companies and partnerships
Specializing allows you to gain deeper expertise in a property type and industry networks. But you can always expand your specialty areas later in your career.
Advantages of a Career in Real Estate Appraisal
Pursuing a career as an appraiser offers many rewarding benefits:
- Be your own boss – Appraisers often work independently or in small firms
- Varied assignments – Each appraisal provides new learning experiences in the field
- Flexibility – Make your own schedule and manage your own clients
- Specialized knowledge – Build in-demand niche expertise around a property type
- Work/life balance – No need to work regular “9 to 5” office hours
- Essential service – Appraisals support major financial transactions
- Stable industry – Real estate markets fluctuate, but properties need appraising in any economy
If you are interested in real estate, analytics and working independently, appraising can be a fulfilling lifelong career.
How Much Do Appraisers Earn?
According to the U.S. Bureau of Labor Statistics, appraisers earn a median annual salary of about $54,000. With experience, appraisers can earn $80,000 or more.
Initially you may start out working for another appraiser, but you can eventually build your own client base as you gain expertise. Strong earnings potential exists by specializing in commercial or niche appraisal work.
Tips for Aspiring Real Estate Appraisers
If starting an appraisal career appeals to you, here are some tips as you work toward licensure:
- Immerse yourself in the field by reading books, journals and job forums
- Take photographs and mental notes when viewing open houses or model homes
- Build connections through appraiser networking groups and conferences
- Seek a mentor who can advise you on the profession
- Familiarize yourself with appraisal software tools and property data services
- Consider an appraisal, real estate or valuation degree to build credentials
- Explore niche specialties that align with your unique interests
Pursuing Your Appraisal Career
A career as a real estate appraiser allows you to meld analytical skills with an interest in real estate markets and valuation. With diligent preparation, you can join this rewarding field.
Follow the steps covered in this guide to gain the necessary appraisal education, experience and licensure for your state. Joining this essential profession allows you to apply your expertise toward supporting significant financial transactions related to real estate.
Step 2: Find a Certified Appraiser to Supervise Your Work
Registered Trainee Appraisers must be supervised by a Florida-Certified Appraiser in good standing. And you’ll need to log some serious work experience under your supervising appraiser before you can apply to be a Certified Residential Appraiser.
You’ll need to use the DBPR-approved experience log to record a minimum of 1,500 working hours over a period of at least 12 months. This experience must include a minimum of 150 appraisal reports.
Step 1: Complete Your Education Requirements
To begin your real estate appraiser career in Florida, you’ll need to complete 100 hours of appraisal education from a DBPR-approved Florida real estate school:
- Basic Appraisal Principles (30 hours)
- Basic Appraisal Procedures (30 hours)
- Appraisal Subject Electives (25 hours)
- National USPAP Course (15 hours)
These courses will give you the foundation of knowledge needed to be successful in your new career as a Florida appraiser.
Completing your real estate appraisal education will allow you to apply with the DBPR as a Registered Trainee Appraiser You’ll just need to submit the application along with a $230 application fee and official fingerprints.
How to Become a Woman Appraiser in a Male Dominated Industry
How do I become a residential or commercial appraiser?
Whether you decide to become a residential or commercial appraiser, you’ll need to meet education, experience, and state licensing or certification exam requirements. Step 1: Complete three qualifying education courses and one training course (75 hours).
How do I become a real estate appraiser?
How to become a real estate appraiser. Review the minimum requirements in your state. Become a trainee appraiser. Find a mentor. Complete required real estate appraiser coursework. Register for the Licensed Residential Exam. Submit your application to become a licensed residential real estate appraiser. How Much Does It Cost to Sell Your Home?
Do you need a license to be an appraiser?
As an appraiser, you will typically perform appraisals before a property is mortgaged, sold, taxed, insured, and more. The specific license and education requirements you need to work as an appraiser vary from state to state. You’ll need to research the qualifications required for the state you want to work in to ensure you meet them.
Do appraisers need a degree?
Trainees and licensed residential appraisers don’t have specific degree requirements in every state. In some cases, you must first complete just 30 credit hours of relevant coursework. However, certified general and residential appraisers will always require obtaining a bachelor’s degree.
