How to Become a Real Estate Appraiser in Alabama

 

To become a real estate appraiser in Alabama, you must first obtain classification as a Trainee Real Estate Appraiser.

 

Real estate appraisers inspect and take measurements of real property (land, homes, apartments, office buildings, etc.) in order to arrive at an accurate value of the property.

In any real estate transaction that needs a loan, a real estate appraisal will be required by the bank or lender. This includes purchase as well as refinancing transactions.

Consequently, there are many career opportunities for real estate appraisers in active real estate markets.

Real estate appraisers can be self-employed and work for themselves or they can work for mortgage firms, banks, lenders and government agencies.

 

Here's what you need to know to become a real estate appraiser in Alabama:

1) Real Estate Appraiser Licensing Requirements in Alabama

2) Real Estate Appraiser Job Duties

3) Income Potential

4) Alabama Real Estate Appraisal Schools

 

How to Become a Real Estate Appraiser in Alabama

 

1) Real Estate Appraiser Licensing Requirements in Alabama

In Alabama, real estate appraisers MUST be licensed by the Alabama Real Estate Appraisers Board

 

To become a Trainee Real Estate Appraiser, you must:

 

After receiving 1000 hours of appraisal experience and completing 90 hours of approved education,  a Trainee may apply to become a State Registered Real Property Appraiser. There is an application fee of $250 and a license fee of $225.

A State Registered Real Property Appraiser may perform real estate appraisals on non-federally related transactions.

There are 3 other levels of real estate appraiser licensing in North Carolina:

 

 License Levels Education Requirements Experience Requirements Exam Scope of Practice
 Licensed

Real Property Appraiser

A minimum of 90 hours of required appraisal  education , including 15 hours on USPAP. Minimum 2,000 hours of acceptable appraisal experience over at least 2 years. Must pass the AQB approved residential examination. May appraise non-complex 1-to-4 unit residential property up to a transaction value of $1 million, and commercial properties up to $250,000.
Certified Residential Appraiser A minimum of 120 hours of approved appraisal  education, with at least 15 hours on USPAP. Minimum 2,500 hours of acceptable appraisal experience over at least 2 years. Must pass the AQB approved certified residential examination. May appraise all 1-to-4 unit residential property.
Certified General  Appraiser A minimum of 180 hours of approved appraisal  education  and 15 hours on USPAP. Minimum 3,000 hours of acceptable appraisal experience, over at least 2.5  years. Must pass the AQB approved certified general examination. May appraise all types of real estate.



 

NOTE: Education, Experience, Testing, and Continuing Education are subject to change based upon criteria established by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation

 

 

2) Duties of Real Estate Appraisers

A real estate appraiser's job is to estimate the value of real property. Real property consists of land, buildings, and even natural resources such as water, oil, or minerals.

The estimate of value is known as an appraisal. A real estate appraisal is made when real property is bought, sold, assessed, taxed, condemned, insured, or mortgaged.

A real estate appraiser's job duties also include:

 

 

3) Income Potential in Alabama

According to the Employment Security Commission of North Carolina, the 2003 median salary of Real Estate Appraisers in Alabama was approximately $44,600/year.

Salaries ranged from under $24,000/year to over $73,000/year.

 

4) Real Estate Appraisal Schools in Alabama

If you are interested in becoming a real estate appraiser in Alabama, you will need to take classes that are approved by the Alabama Real Estate Appraisers Board.

Please call the Board at 334-242-8747 prior to signing up for classes.
 

Name of Provider

Real Estate Appraisal Schools for Alabama

 

Alabama Appraisal Academy

205.870.4666

 

Appsal Educators, Inc.

812.925.6421

 

Area, Alabama Association of RE Appraisers

888.228.7760

 

Charles Gaba RE Institute

251.661.8447

 

Cosby Appraisal Service

205.824.6063

 

East Al Institute

205.814.9027

 

IAAO International Association of Assessing Officers

312.819.6135

 

Jefferson State Community College

205.856.7710

 

Negara RE Appraisal School

706.546.0443

 

REAE, Real Estate Appraisal Education

334.315.5102

 

School Of Real Estate Concepts

678.454.5512

 

Schoals School of Business

256.764.7007

 

University of North AL

256.765.4270

 

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