How to Become a Real Estate Appraiser in Iowa

The Iowa Appraiser Examining Board issues licenses for an Associate Real Property Appraiser for those interested in become a real estate appraiser in Iowa.

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 Iowa:

1) Real Estate Appraiser Licensing Requirements in Iowa

2) Real Estate Appraiser Job Duties

3) Income Potential

4) Iowa Real Estate Appraisal Schools

How to Become a Real Estate Appraiser in Iowa

1) Real Estate Appraiser Licensing Requirements in Iowa

In Iowa, real estate appraisers MUST be licensed by the Iowa Appraiser Examining Board.

The process of becoming an appraiser is slightly different in Iowa. The first step is to become an Associate Real Property Appraiser.

To do so, you'll first have to decide whether you'd like to pursue an Associate Residential or Associate General.

An Associate Residential is the first step in the path to becoming a Certified Residential Appraiser. You'll need 120 hours of the required education.

An Associate General, meanwhile, is the first step in becoming a Certified General Appraiser. 180 hours of education is required for this license.

Upon making the decision, the next steps are:

Complete either 120 or 180 hours of the required education
Apply to sit for the state exam
Take and pass the exam
Apply for the Associate Appraiser classification
work under the supervision of a certified appraiser and obtain necessary experience. There is a $150 fee.

The levels of real estate appraiser licensing in Hawaii:

Certified Residential Appraiser
Certified General Appraiser

License Levels Education Requirements Experience Requirements Exam Scope of Practice

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:

obtaining land values from county sources and sales information about nearby properties to help establish property value
examining the income records and operating costs of income properties
estimating building replacement costs using building valuation manuals and professional cost estimators.
examining the type and location of nearby services such as shopping centers, schools, parks, and other neighborhood features in order to evaluate their impact on property values.
verifying legal descriptions of property with county records, measuring the property and comparing the measurements with the legal descriptions.
photographing interiors and exteriors of properties to help estimate property value, substantiate findings and complete appraisal reports
preparing written reports that estimate the property value, outline methods used in estimations and meet appraisal standards

3) Income Potential in Iowa

According to the Iowa Workforce Development, the 2003 median salary of Real Estate Appraisers in Iowa was approximately $41,400/year.

Salaries ranged from under $29,000/year to over $62,000/year.

4) Real Estate Appraisal Schools in Iowa

If you are interested in becoming a real estate appraiser in Iowa, you will need to take classes that are approved by the Iowa Appraiser Examining Board.

Please call the Board at 515.281.7393 prior to signing up for classes.

Name of Provider

Real Estate Appraisal Schools for Iowa

Allied Business Schools

888-501-7686
(offers approved 90 hour on-line)

Appraisal Institute

312-335-4100

Lincoln Graduate Center

800-531-5333

Pro Ed

800-658-3959

ProSource

800-373-1295

Trans-American Institute

308-237-4160

Van Education Center

800-455-8348
(offers approved 75 hour on-line)

IAR Calvert School

515-453-1064 (USPAP only)

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License Levels	Education Requirements	Experience Requirements	Exam	Scope of Practice
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.