Real Estate Appraisal License Preparation

Real Estate Appraiser Trainee license is required of individuals who are to be employed as appraisers under the control and supervision of licensed or certified real estate appraisers. A license may be obtained by a person who does not immediately intend to be employed by an appraiser. However, no real estate appraisal activity may be performed unless the trainee is in the employ of a licensed or certified real estate appraiser.

An applicant to take the Real Estate Appraisal examination must:

1. Be at least 18 years of age or older.
2. Meet minimum Educational requirements: Applicants for the Trainee or Residential license must provide evidence of successful completion of 150 hours of real estate appraisal education, including 15 hours of USPAP (Uniform Standards of Professional Appraisal Practice). Applicants for the Certified Residential license must provide proof of completion of 200 hours of real estate appraisal education (including 15 hours of USPAP). Palomar College does NOT provide further training that will prepare a student to take the Certified General License.
3. Have the appropriate Experience: No experience is required before obtaining the Real Estate Appraiser Trainee license. 2,000 hours and encompassing no less than 12 months of acceptable appraisal experience is required before obtaining the residential license. 2,500 hours and encompassing no less than 2.5 years of acceptable appraisal experience is required before obtaining the Certified Residential License. This program is designed to meet the educational requirements of two licensing levels of the Office of Real Estate Appraisers (Trainee, and Residential). RE 105, RE 115 or RE 130 is recommended to meet the additional requirements of the Certified Residential License. The program does NOT meet the requirements to prepare a student for the Certified General License.

AQB/OREA Real Property Appraiser Qualifying Criteria (Effective January 1, 2008)

OREA License Levels

Basic Education Requirements

College Level Requirements

Experience

Trainee (AT)

150 Hours

N/A

N/A

Residential

150 Hours

N/A

2,000 Hours (accumulated over at least a 12-month period)

Certified Residential (AR)

200 Hours

Associate Degree*

2,500 Hours (accumulated over at least a 30-month period)

Certified General (AG)

300 Hours

Bachelor’s Degree**

3,000 Hours (accumulated over at least a 30-month period)

*In lieu of the Associate Degree, an applicant can complete 21 college semester credits in courses covering: English Composition; Principles of Economics (Micro or Macro); Finance, Algebra, Geometry, or higher mathematics; Statistics; Introduction to Computers; and Business or Real Estate Law.

**In lieu of the Bachelor’s Degree, an applicant can complete 30 college semester credits in courses covering: English Composition; Micro Economics; Macro Economics; Finance, Algebra, Geometry, or higher mathematics; Statistics; Introduction to Computers; Business or Real Estate Law; and two elective courses in accounting, geography, ag-economics, business management, or real estate.

Learning Outcome(s):

1. Interpret and explain the findings from a Uniform Appraisal Report and prepare a standard appraisal form in compliance with residential and commercial and industrial property appraisal guidelines.
2. Recognize and apply the requirements for ethical behavior and competent performance by appraisers that are set forth in the Uniform Standards of Professional Appraisal Practice (USPAP).
3. Utilize all three major methods of real estate appraisal: sales comparison, cost approach, and income approach, and reconcile methods to assess propery values; Recommend a highest and best use and defend your preliminary conclusions after cumulative analysis.