Appraisal Careers Overview
Every time a property is built, bought, or sold; there exists a need of an Appraiser. Think about how often that happens each day in New York. Every transaction in the real estate industry depends on the knowledge of an Appraiser. An Appraiser focuses on the value at a particular time of the real estate market; essentially, it is the art of accurate property valuation. As determined by a number of factors such as location, architecture, age, and physical condition, an Appraiser arrives at a professional opinion.
Appraisal Professionals are a critical and integral part of the real estate world. They bring objectivity as an impartial and trusted third party to the valuation of every real property transaction in America.
What Makes Real Estate Appraisers Useful?
Investors and developers who master the financial side of the Appraisal process are able to make smarter choices that increase the overall ROI of their efforts.
Appraisal professionals take into consideration things such as the age of the property, quality of the materials and infrastructure, location, and amenities such as a view or proximity to the downtown area. Appraisers are used by banks to determine valuation vs. the amount of money being lent to buy the property. They are also useful for buyers as an indicator of whether they are paying a fair market price or not.
Appraiser Courses
New York Appraiser Assistant
No experience necessary
87 Hours
Start your appraisal career at the entry level. Complete New York’s required qualifying education, then gain experience working under a licensed appraiser.
Course is coming soon.
New York Certified Residential Appraiser
2+ years of experience
203 Hours
Step up to higher-value residential assignments. Certification requires supervised experience and a bachelor’s degree or an approved alternative.
Course is coming soon.
Greg was a great instructor. He makes the class fun and keeps you awake especially on those last couple of classes when you’re pulling 3 classes a day so you can get it over with. I’m super excited to start my career as a Real Estate agent thanks to REEDC. I got a deal through LivingSocial which also helped out.
El H.
This recommendation is for Garry, one of the Property and Casualty Insurance Broker Pre-Licensing course instructors. He kept class interesting and fun and almost my whole class passed the exam the first time. He really seemed to care about his students and their comprehension of the material as opposed to just drilling the correct answers into us.
Jillian R.
At the time of writing this, I am about 75% done with my classes at REEDC and I am having such a great time that I felt compelled to write a review.
The instructor is very knowledgeable, funny and engaging. When you are there, you genuinely follow the material because it is taught so well.
Todd M.
I have just finished my course and exam here. I cannot say enough about this wonderful place! There is a great concern and devotion on the part of everyone there that your experience is positive and you are happy with your learning. Most impressive was the incredible effort put towards job placement, recruiting, and real world networking.
Jessie B.
The Property Casualty Insurance course was taught by Garry Smalley, a great instructor who engaged the class and made the whole experience worthwhile. Believe it or not, I remember laughing a few times in the class from some of the stories. I just got my license today! Passed on my first try, the course was more then enough if you are willing to study 1-2 hours a few nights a week
Paul L.
Just finished two weeks of classes, and I couldn’t be more pleased. The teacher, Greg is very impressive, having been in the field, and is a wealth of knowledge. He always has time to answer my many questions. I live in Brooklyn, and work in Manhattan, and if I don’t feel like coming into NY on weekends, I can go to their Brooklyn office, which works out well for me.
Susan M.
Frequently Asked Questions
How do I qualify as a New York Appraiser Assistant?
To become a State Licensed Real Estate Appraiser Assistant in New York, you must:
- Be at least 18 years old.
- Complete 87 hours of qualifying education, including Basic Appraisal Principles, Basic Appraisal Procedures, the 15-hour National USPAP course and the 8-hour Valuation Bias & Fair Housing course.
- Work under a New York State licensed or certified appraiser, who must cosign any appraisal report for a federally related transaction.
- Follow the same Uniform Standards of Professional Appraisal Practice (USPAP) as licensed and certified appraisers.
Once approved, the Department of State issues a two-year Appraiser Assistant license that you can renew. When you have enough experience to move up to licensed or certified appraiser, you’ll need to meet the education and exam requirements for that level at the time.
What are experience requirements?
The New York Department of State requires appraisers to log a minimum number of supervised experience hours before moving up a level. As an appraiser assistant, you build these hours on the way to becoming licensed or certified.
| REEDC program | Experience required | Max. credit for review appraisals |
|---|---|---|
| Appraiser Assistant | None | n/a |
| Certified Residential Appraiser | 1,500 hours over at least 24 months |
375 hours |
Note: To evaluate experience consistently, the Department of State uses an hourly system as a guideline. It takes into account the number and type of appraisals you performed and the hours you worked, including travel.
What is considered acceptable experience?
- Standard Appraisals
- If you performed at least 75% of the work associated with an appraisal (including preparation of the appraisal report), you will receive full credit for that appraisal, even if your work was reviewed by a supervising appraiser who signed the appraisal report. You must complete Attachments C and D. of the application
- Review Appraisals:
- If you performed a “review appraisal,” whether defined as a “field review” or a “documentary review” or a combination of both, you will receive 25% of the hours normally assigned for that appraisal. You must complete Attachments C and D of the application.
- Note: Review Appraisals may be used for qualifying experience credit only up to a maximum of 25% of the required hours.
What is considered unacceptable experience?
- Market value estimates as a real estate licensee in connection with the listing and/or sale of real estate (i.e., “comparative market analysis”) are unacceptable.
- Business appraisals are unacceptable. (Credit will be given for appraisals of individual parcels of commercial real estate.)
- Personal property appraisals are unacceptable.
- Feasibility or market analysis is unacceptable, except to the extent that the “market value” of a proposed real estate project is being estimated
How do I renew my real estate appraiser license/certification?
The renewal application is posted to the appraiser approximately three months prior to the expiration of his or her license/certification. All real estate appraisers and apprentices are required to successfully complete 28 hours of approved appraiser continuing education courses which must include the 7-hour National USPAP course and a Valuation Bias & Fair Housing course (7 hours for your first renewal, 4 hours after that), within their two-year license/certification period prior to renewal. You can renew your license/ certification online here.
What are the continuing education requirements?
All real estate appraisers and appraiser assistants must complete 28 hours of approved appraiser continuing education within each two-year license period. This must include the 7-hour National USPAP course and a Valuation Bias & Fair Housing course (7 hours for your first renewal, 4 hours for each renewal after that).
What if it's been more than two years since my license expired?
If it has been more than two years since the expiration of the applicant’s last license, the applicant must file a new application, meet the current qualifying education requirements, meet the current experience requirements, and pass the appropriate appraiser examination.