How to Become a Real Estate Appraiser in Massachusetts

 

To become a real estate appraiser in Massachusetts, you must first be licensed as a Trainee, gain experience and work your way up the appraisal licensing ladder.

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 especially that in the Boston MA area.

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 Massachusetts:

1) Real Estate Appraiser Licensing Requirements in Massachusetts

2) Real Estate Appraiser Job Duties

3) Income Potential

4) California Real Estate Appraisal Schools

 

How to Become a Real Estate Appraiser in Massachusetts

 

1) Real Estate Appraiser Licensing Requirements in Massachusetts

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

 

To be licensed as a Trainee in MA, you must:

Once you have your Trainee License, you will be able to work under a licensed appraiser. Upon receiving a minimum of 2000 hours of appraisal experience in at least 2 years, you may apply to become a Licensed Residential Appraiser.

There are actually 4 levels of real estate appraiser licensing in Massachusetts:

OREA License Levels Education Requirements Experience Requirements Exam Scope of Practice
Trainee A minimum of 45 hours of approved appraisal  education, with at least 15 hours on the Uniform Standards of Professional Appraisal Practice (USPAP). None None Must work under the technical supervision of a licensed appraiser. May assist on any appraisal within the scope of practice of the supervising appraiser.
Licensed Residential A minimum of 90 hours of required appraisal  education , with 30 hours in residential and 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 complex 1-to-4 unit residential and all non-residential property for transaction values less than $1 million.
Certified Residential A minimum of 120 hours of appraisal related education covering the specific topics required by AQB, 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 A minimum of 180 hours of required appraisal  education with 60 hours on non-residential properties and 15 hours on USPAP. Minimum 3,000 hours of acceptable appraisal experience, of which at least 1,500 hours must be non-residential and over at least 30 months. 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 Massachusetts

The median salary of Real Estate Appraisers in Massachusetts in 2003 was approximately $58,100/year.

Salaries can range from $30,000/year for entry-level positions to over $90,000 for those with experience.

 

4) Real Estate Appraisal Schools in Massachusetts

If you are interested in becoming a real estate appraiser in Massachusetts, you will need to take classes that meet standards set by the Massachusetts Board of Registration of Real Estate Appraisers.

School status may change so please call the Board at 617.727.3074 prior to signing up for classes.

 

Real Estate Appraisal Schools in MA


Alstate Home Inspections 	1-802-728-4015
American Real Estate Academy 	(617) 893-2832
American Society of Appraisers 	(703) 733-2123
American Society of Farm Managers and Rural Appraisers 	(303) 758-3513
Appraisal Institute 	303-758-3513X23
Appraisal Institute of Rhode Island 	(401) 433-6985
Appraisal Institute Western Mass Chapter 	(413) 786-8651
Appraisal Standards Board 	(202) 347-7722
Berkshire Community College 	(413) 499-4660
Boston University 	(617) 353-4497
Brooks Real Estate Services 	1-603-666-4565
CLE International 	1-303-377-6600
Commercial Investment Real Estate Institute 	(312) 321-4460
Counselors of Real Estate 	(312) 329-8430
Day One, Inc 	1 800-204-3319
Dearborn Real Estate Education 	1-312-894-0378
Employee Relocation Council 	(202) 857-0144
Federal Deposit Insurance Corporation 	(781) 794-5500
Foundation of Real Estate Appraisers 	(714) 935-0189
Future Value LLC 	1-303-758-3513 x22
International Association of Assessing Officers 	(312) 819-6136
International Right of Way 	(310) 538-0233
JMB Real Estate Academy, Inc 	(978) 454-7314
JVI 	1-407-774-3344
Lee Institute, Inc. 	(617) 734-3211
Lincoln Institute of Land Policy 	(617) 661-3016
Marshall and Swift 	 
Massachusetts Association of Assessing Officers 	(508) 295-0963
Massachusetts Board of Real Estate Appraisers 	(781) 329-1996
Massachusetts Chapter of the Appraisal Institute 	781-397-8922
McKissock Incorporated dba McKissock Appraisal School 	1-800-328-2008 x219
Mount Wachusett Community College 	508-632-6600
National Association of Independent Fee Appraisers 	(314) 781-6688
National Association of Realtors 	(312) 329-8200
National Association of Reivew Appraisers and Mortgage Underwriters 	(602) 998-3000
New England Real Estate Institute, Inc. 	(401) 278-3401
Prosource Educational Services 	(651) 641-1000
Rhode Island Association of Realtors 	(401) 785-9380 x233
Rhode Island Chapter of the Appraisal Institute 	1-401-433-6985
The Beckman Company 	(206) 271-2402
U.S. Department of Transportation/Federal Highway Administration 	(617) 494-2162
Valuation Administrators, a Service of Fidelity Residential Solutions 	(508) 482-5551
Van Education Limited Liability Company (dba: Van Education Center) 	(800) 455-8348
World Savings 	(210) 543-4658
World Savings and Loan Association 	(210) 543-4658

 

Back to Massachusetts Real Estate Agent