How to Become a Real Estate Appraiser in Colorado

 

To become a real estate appraiser in Colorado, you must first apply to be licensed as a Registered 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 Colorado:

1) Real Estate Appraiser Licensing Requirements in Colorado

2) Real Estate Appraiser Job Duties

3) Income Potential

4) Colorado Real Estate Appraisal Schools

 

How to Become a Real Estate Appraiser in Colorado

 

1) Real Estate Appraiser Licensing Requirements in Colorado

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

 

To be licensed as a Registered Real Estate Appraiser, you must:

 

After receiving a minimum of 2000 hours of appraisal experience in no less than 1 year,  a Registered Appraiser may apply to become a Licensed Appraiser. There is a $112 application fee.

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

 

 License Levels Education Requirements Experience Requirements Exam Scope of Practice
 Licensed  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 year. 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 Colorado

According to the Colorado Department of Labor and Employment, the 2003 median salary of Real Estate Appraisers in Colorado was approximately $44,050/year.

Salaries ranged from $30,000/year to over $103,000/year.

4) Real Estate Appraisal Schools in Colorado

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

School status may change so please call the Board at 303.894.2166 prior to signing up for classes.
 

Real Estate Appraisal Schools for Colorado

American Real Estate College, 303 426 6443 or 800 735 8904

American Society of Appraisers, 703 733 2123

Appraisal Continuing Education School, 719 579 0420

Appraisal Institute/Colorado Chapter, 303 691 0487 or 800 571 0086

Arapahoe Community College, 303 797 4222

Armbrust Real Estate Institute, 303 904 1808

Center for Professional Education, 720 889 0797

CLE International, 303 377 6600 or 800 331 7130

Colorado Department of Transportation, 303 757 9358

Colorado Division of Property Taxation, 303 866 2371

Community College of Aurora, 303 360 4700

Emily Griffith Opportunity School, 303 575 4700

Foundation of Real Estate Appraisers, 714 935 1161

International Association of Assessing Officers, 312 819 6100

International Right of Way Association, 310 538 0233

Jones College, 303 758 1033 or 719 473 0385

National Association of Independent Fee Appraisers, 314 781 6688

National Association of Master Appraisers, 210 225 2897

University of Colorado Center for Business Development, 303 492 5148 or 800 331 2801

University of Denver, 303 871 3432

Veterans Affairs, Department of, 888 349 7541 or 303 914 5618

 

 

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