How to Become a Real Estate Appraiser in Louisiana
To become a real estate appraiser in Louisiana, you must first be licensed as a Real Estate Appraiser Trainee.
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 Louisiana:
1) Real Estate Appraiser Licensing Requirements in Louisiana
2) Real Estate Appraiser Job Duties
3) Income Potential
4) Louisiana Real Estate Appraisal Schools
How to Become a Real Estate Appraiser in Louisiana
1) Real Estate Appraiser Licensing Requirements in Louisiana
In Louisiana, real estate appraisers MUST be licensed by the Louisiana Real Estate Appraisers Board.
To be a licensed Real Estate Appraiser Trainee, you must:
- Complete the 75-hour minimum education requirements including 30 hours in Appraisal Principles, 30 hours in Appraisal Practice and a minimum of 15 hours of Uniform Standards of Professional Appraisal Practice (USPAP)
- work under the technical supervision of an Louisiana licensed or certified appraiser
- Complete and file a Real Estate Appraiser Trainee application with a $245 fee
After receiving a minimum of 2500 hours of appraisal experience in no less than 2 years, a Trainee may apply to become a Licensed Real Estate Appraiser. There is a $245 license fee.
There are 2 levels of real estate appraiser licensing in Louisiana:
- Certified Residential Real Estate Appraiser
- Certified General Real Estate Appraiser
| License Levels | Education Requirements | Experience Requirements | Exam | Scope of Practice |
| Certified Real Estate 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 Real Estate 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 3 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 Louisiana
According to the Louisiana Department of Labor, the 2004 average salary of Real Estate Appraisers in Maryland was approximately $43,298 per year.
Salaries were reported to range from under $20/hour to over $28/hour.
4) Real Estate Appraisal Schools in Louisiana
If you are interested in becoming a real estate appraiser in Louisiana, you will need to take classes that are approved by the Louisiana Real Estate Appraisers Board.
School status can change so please call the Board at 225-765-0191 prior to signing up for classes.
BURK BAKER SCHOOL OF REAL ESTATE AND APPRAISING
2834 South Sherwood Forest Blvd., Suite B-9
Baton Rouge, LA 70816
(800) 222-3295 or (225) 293-6000
BAKER’S PROFESSIONAL REAL ESTATE COLLEGE
1612 Fairfield Avenue
Shreveport, LA 71101
(318) 222-7459
BOSSIER PARISH COMMUNITY COLLEGE
2719 Airline Drive
Bossier City, LA 71111
(318) 746-6120
DELGADO COLLEGE
501 City Park Avenue
New Orleans, LA 70119-4399
(504) 388-4083
DONALDSON REAL ESTATE SCHOOL, INC.
2540 Severn Avenue, Suite 103
Metairie, LA 70002
(800) 257-2741 or (504) 456-1785
EXECUTIVE TRAINING CENTERS, LLC
4200 South I-10 Service Road West, Suite 134
Metairie, LA 70001
(800) 966-9866 or (504) 454-9866
LOYOLA UNIVERSITY
6363 St. Charles Avenue
New Orleans, LA 70118
(504) 865-2011
LOUISIANA STATE UNIVERSITY
College of Business Administration
Baton Rouge, LA 70803
(225) 578-3211
LOUISIANA STATE UNIVERSITY –Shreveport
Department of Economics and Finance
One university Place
Shreveport, LA 71115-2399
(318) 797-5241
LOUISIANA TECH UNIVERSITY
College of Administration and Business
Department of Economics and Finance
Ruston, LA 71271
(318) 257-4149
NICHOLLS STATE UNIVERSITY
Department of Economics and Finance
P. O. Box 2015
Thibodaux, LA 70310
(985) 448-4232
NORTHEAST LOUISIANA UNIVERSITY
College of Business Administration
Department of Economics and Finance
Monroe, LA 70129
(318) 342-1150
NORTHWESTERN STATE UNIVERSITY
College of Business and Applied Sciences
Division of Business
Natchitoches, LA 71497
SOUTHERN UNIVERSITY (New Orleans)
6400 Press Drive
New Orleans, LA 70126
(504) 286-5000
TULANE UNIVERSITY
6823 St. Charles Avenue
New Orleans, LA 70118
(504) 865-5555
UNIVERSITY OF LOUISIANA – LAFAYETTE
College of Business Administration
ULL Box 40200
Lafayette, LA 70504
(337) 472-6662
UNIVERSITY OF NEW ORLEANS
Department of Economics and Finance
Lakefront Campus
New Orleans, LA
(504) 280-6485
UPTOWN PROFESSIONAL REAL ESTATE SCHOOL
4640 South Carrollton Avenue Suite 2B-204
New Orleans, LA 70119
(504) 482-0109
W. ROSS SHUFFIELD
2133 Silverside Drive, Suite L
Baton Rouge LA 70808
(225) 769-8284
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