How to Become a Real Estate Appraiser in Arkansas

 

To become a real estate appraiser in Arkansas, you must first work under the supervision of a licensed or certified appraiser and obtain the 2000 hours of experience required to apply for licensure.

 

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 Arkansas:

1) Real Estate Appraiser Licensing Requirements in Arkansas

2) Real Estate Appraiser Job Duties

3) Income Potential

4) Arkansas Real Estate Appraisal Schools

 

How to Become a Real Estate Appraiser in Arkansas

 

1) Real Estate Appraiser Licensing Requirements in Arkansas

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

 

After receiving a minimum of 2000 hours of appraisal experience in no less than 2 years,  you may apply to become a State Licensed Real Estate Appraiser. There is a $200 license fee.

There are 3 levels of real estate appraiser licensing in Arkansas:

 

 License Levels Education Requirements Experience Requirements Exam Scope of Practice
State 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 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.
State 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.
State 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 Arkansas

According to the Arkansas Labor Department, the 20035 median salary of Real Estate Appraisers in Arkansas was approximately $29,600/year.

Salaries ranged from under $18,000/year to over $54,000 per year.

4) Real Estate Appraisal Schools in Arkansas

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

School status may change so please call 501.296.1843 prior to signing up for classes.
 

Real Estate Appraisal Schools approved by the Arkansas Real Estate Appraisers Board:

 

RCI Career Enhancements

479.968.7752

 

Delta Seminars

870.731.8008

 

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