How to Become a Real Estate Appraiser in Arizona

 

The Arizona Board of Appraisal has not created an official Trainee Classification. So. to become a real estate appraiser in Arizona, you'll have to obtain the required education and experience and then apply for the Licensed Residential Appraiser license.

 

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 Arizona:

1) Real Estate Appraiser Licensing Requirements in Arizona

2) Real Estate Appraiser Job Duties

3) Income Potential

4) Arizona Real Estate Appraisal Schools

 

How to Become a Real Estate Appraiser in Arizona

1) Real Estate Appraiser Licensing Requirements in Arizona

In Arizona, real estate appraisers MUST be licensed by the Arizona Board of Appraisal

After receiving 2000 hours of appraisal experience and completing 90 hours of approved education,  you may apply to become a Licensed Residential Appraiser. There is a $450 fee.

 

The levels of real estate appraiser licensing in Arizona:

 

 License Levels Education Requirements Experience Requirements Exam Scope of Practice
 Licensed

Residential 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 1.5 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 Arizona

According to the Arizona Department of Economic Security, the 2003 median salary of Real Estate Appraisers in Arizona was approximately $36,800/year.

Salaries ranged from under $28,000/year to over $53,000/year.

 

4) Real Estate Appraisal Schools in Arizona

If you are interested in becoming a real estate appraiser in Arizona, you will need to take classes that are approved by the Arizona Board of Appraisal.

Please call the Board at (602) 542-1539 prior to signing up for classes.
 

Name of Provider

Real Estate Appraisal Schools for Arizona

 

Arizona School of Real Estate and Business - Scottsdale, AZ

480.946.5388

 

Best School of Real Estate and Appraisal - Sedona, AZ

928.282.1611

 

Hogan School of Real Estate - Tucson, AZ

800.794.1390

 

Westford College - Glendale, AZ

602.995.9000

 

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