Do I need an Appraisal License or Appraisal Certification to be a professional Appraiser?

As of December 31,1992, individuals who appraise properties related in any way to federal transactions must have a license or certification.

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What are the various types of Appraisal Certifications?

There are four types of License/Certifications:

• Licensed Real Estate Appraiser
• Certified Residential Appraiser
• Certified General Appraiser
• Appraiser Assistant License

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What are the detailed requirements for each license/certification program?

They are as follows:

• New York State Licensed Real Estate Appraiser.

  • Authorization

    Allows an individual to appraise real property consisting of 1-4 residential units with a transaction value under $1,000,000, and real property units with a transaction value of less that $250,000.

  • Education Requirements

    Residential-1 (R-1), Residential-2 (R-2) totaling 60 hours, and Ethics and Standards of Professional Practices (E/S) 15 hours for a total of 75 hours, plus State exam.

  • Experience Criterion

    A minimum of two years full-time real estate experience within the past five years, and a total of 240 experience points with a minimum of 180 (75%) appraising Residential property.

• New York State Certified Residential Appraiser.

  • Authorization

    Allows an individual to appraise real property consisting of 1-4 residential units without regard to transaction value or complexity.

  • Educational Requirements

    Residential-1 (R-1), Residential-2 (R-2), (R-3) and Residential - 4 (R-4) totaling 105 hours, and Ethics and Standards of Professional Practices (E/S) 15 hours for a total of 120 hours, plus State exam.

  • Experience Criterion:

    A minimum of two year full-time real estate experience within the past five years, and a total of 240 experience points, with a minimum of 180 (75%) appraising Residential property.

• New York State Certified General Appraiser.

  • Authorization

    Allowed to appraise any type of real property.

  • Education Requirements

    Residential-1 (R-1) and Residential-2 (R-2) 60 hours, General-1 (G-1), General-2 (G-2), and General-3 (G-3) totaling 150 hours, and Ethics and Standards of Professional Practices (E/S) for a total of 165 hours, plus State exam.

  • Experience Criterion

    A minimum of two years full-time real estate experience within the past five years, and a total of 240 experience points, with a minimum of 180 (75%) from appraisals in the General category.

• Appraiser Assistant License.

  • Education Requirements

    NO work experience necessary! NO State exam required! Excellent opportunity to get started. Have a Licensed or Certified Appraiser sign the statement that is attached to the application. File an application and submit a fee of $300.00. Complete 75 hours of appraisal courses, which would be: (R-1) Introduction to Real Estate Appraisal 30 hours, (R-2) Valuation Principles and Procedures 30 hours, and (E/S) 15 hours.

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What is considered acceptable experience for the appraisal certification?

If you have performed at least 75% of the work associated with the appraisal (including preparation of the appraisal report), you will receive full credit for the appraisal even if the work was reviewed by a supervising appraiser who signed the report.

If you have performed a review appraisal, whether a field review or a documentary review and/or both, you will receive 25% of the points normally allotted for that appraisal.

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What is considered unacceptable experience?

Market value estimates, that is, a Comparative Market Analysis, Mass Appraisal for ad valorem tax purposes, business appraisal (commercial property not included), personal property, feasibility or market analysis (not market analysis of a proposed real estate project), and less than 75% of the work associated with the work or real estate.

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Will I receive equivalency credit for courses taken before NYS Certification qualifying courses were instituted?

NYS is continually updating the list of courses acceptable to the State, If yours is not on the list, submit a transcript and an outline from previous courses. Attach it to your application.

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What is the difference in qualifications for the NYS licensed Real Estate Appraiser and Certified Residential Appraiser?

The number of hours of education are different. Exam and experience are the same. All three require Ethics and Standards of Professional Practices (E/S) which is 15 hours.

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May I receive Continuing Education Credit toward my Real Estate License for the Appraisal qualifying course?

Yes, Real Estate Education Center provides this benefit. To our knowledge, no other institution in this area offers it. Our Residental-1, 2, 3, & 4 (R-1, 2, 3 & 4) allows you to take the course and receive full CE credit provided you pass the exam. We will qualify other courses as the need arises. What Appraisal courses is Real Estate Education Center offering?

Real Estate Education Center currently offers Residential Appraisal series R-1, R-2, R-3 and R-4 totaling 105 hours and Ethics and Standards of Professional Practices (E/S) (15 hours) for a total of 120 hours. In addition, we offer the General (Commercial) Appraisal series - G-1, G-2, and G-3 (90 hours), as well as Using HP 12C in Real Estate Appraisal (5 hours.) What other courses is New York Real Estate Institute offering? Real Estate Education Center offers the Salesperson's and Broker's qualifying courses, during the daytime and evenings on a continuous bases, and many other career building Continuing Education courses.

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