APPRAISING
ASSOCIATION OF
Plymouth, MI, 48170 Phone: (734)207-5050
AREAI@comcast.net
STATE APPRAISER LICENSING INFORMATION
Classes are designed to meet State requirements for pre-licensing of all levels of licensing and for continuing education. All classes and seminars have been accepted by the State of Michigan, Board of Real Estate Appraisers, for the number of hours indicated. Our instructors are all experienced appraisers, licensed or certified, and experienced teachers. Classes taken for continuing education may be repeated in another two year cycle. Fifteen hour classes may be used for 14 hours of continuing education.
2008 AQB
QUALIFICATION CRITERIA
Level of Licensure
|
Education |
Experience |
Exam |
|
Limited Real Estate
Appraiser |
75 hours
of approved pre-licensure appraiser education
(see specific course requirements in Table I
below) |
None |
None |
|
State Licensed Real
Estate Appraiser |
150 hours
of approved pre-licensure appraiser education
(see specific course requirements in Table I
below) |
*2,000
hours of appraisal experience including at least
1,500 hours of residential experience over at
least 12 months |
2008
National exam |
|
Certified Residential
Real Estate Appraiser |
200 hours
of approved pre-licensure appraiser education
(see specific course requirements in Table I
below) and an associate degree or 21 college
semester credit hours (see Table II below for in
lieu of requirements)
|
*2,500
hours of appraisal experience including at least
2,000 hours of residential experience over at
least 24 months |
2008
National exam |
|
Certified General Real
Estate Appraiser |
300 hours
of approved pre-licensure appraiser education
(see specific course requirements in Table I
below) and a bachelor degree or 30 college
semester credit hours (see Table II below for in
lieu of requirements) |
*3,000
hours of appraisal experience including at least
1,500 hours of non-residential experience over
at least 30 months |
2008
National exam |
•
LIMITED REAL
ESTATE APPRAISER
o
75 hours of
appraisal pre-licensure education Basic Appraisal Principles (30 hours), Basic
Appraisal Procedures (30 hours), National Uniform Standards of Professional
Appraisal Practice (15 hours)
o
150 (or an
additional 60 hours) hours of appraisal pre-licensure education;
Residential Market Analysis and Highest and Best Use (15 hours),
Residential Appraiser Site Valuation and Cost Approach (15 hours), Residential
Sales Comparison and Income Approaches (30 hours), Residential Rreport Writing
and Case Studies (15 hours)
o
2000 hours of
appraisal experience including 1500 hours of residential experience over 12
months or more supervised by a certified residential or certified general real
estate appraiser
o
Successful
completion of the state exam
o
200 hours (an
additional 50 hours) including Statistics, Modeling, and Finance (15 hours),
Advanced Residential Applications and Case Studies (15 hours), Appraisal Subject
Matter Elective (20 hours)
o
2500 hours of
appraisal experience including the previous 2000 hours experience obtained over
a minimum of 24 months
o
Associate
degree or 21 semester credit hours consisting of
§
English
Composition
§
Principles of
Economics (Micro and Macro)
§
Finance
§
Algebra,
Geometry or higher mathematics
§
Statistics
§
Introduction to
Computers—Word Processing/spreadsheets
§
Business or
Real estate Law
o
Successful
completion of state exam
•
CERTIFIED
GENERAL REAL ESTATE APPRAISER
o
300 Hours of
Appraisal pre-licensure education:
General Appraiser Market Analysis and Highest and Best Use (30 hours), General
Appraiser Site
Cost Approach (30 hours), General
Appraiser Sales Comparison Approach (30 hours), General Appraiser Income
Approach (60 hours), General Appraiser Report Writing and Case Studies (30
hours)
o
3000 hours of
appraisal experience including at least 1500 hours of non-residential experience
obtained over a minimum of 30 months
o
Bachelor degree
or 30 semester credit hours
§
English Composition
§
Micro Economics
§
Macro Economics
§
Finance
§
Algebra, Geometry, or higher mathematics
§
Statistics
§
Introduction to
Computer—Word Processing/spreadsheets
§
Business or
Real Estate Law
§
Two elective
courses in accounting, geography, economics, business management or real estate
o
Successful
completion of the state exam
Statistics, Modeling
and Finance 15 Hours
Advanced Residential
Applications and Case Studies 15 Hours
Appraisal Subject
Matter Electives 20 Hours
Total 50 Hours, plus
you need your associate degree or the equivalent.
You will need to take the state test.
Residential Market Analysis and Highest and Best Use 15 Hours
Residential Appraiser
Site Valuation and Cost Approach 15 Hours
Residential Sales
Comparison and Income Approaches 30 Hours
Residential Report
Writing and Case Studies 15 Hours
Total 75 Hours
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