How to Become a Real Estate Appraiser in Nevada

 

To become a real estate appraiser in Nevada, you must first start out as a Registered Intern.

 

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 Nevada:

1) Real Estate Appraiser Licensing Requirements in Nevada

2) Real Estate Appraiser Job Duties

3) Income Potential

4) Nevada Real Estate Appraisal Schools

 

How to Become a Real Estate Appraiser in Nevada

 

1) Real Estate Appraiser Licensing Requirements in Nevada

In Nevada, real estate appraisers MUST be licensed by the Nevada Real Estate Appraisal Commission. 

 

To become a Registered Intern, you must:

 

After receiving a minimum of 2400 hours of appraisal experience in no less than 2 years, you may apply to become a Licensed Residential Appraiser. There is a $100 application fee. The license costs $290 and is valid for 2 years.

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

 

 License Levels Education Requirements Experience Requirements Exam Scope of Practice
 Licensed Residential Appraiser A minimum of 90 hours of required appraisal  education , with 30 hours in residential and 15 hours on USPAP. Minimum 2,400 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.
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 3,600 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:

 

 

3) Income Potential in Nevada

According to the Nevada Department of Employment, Training & Rehabilitation, the 2004 average hourly salary of Real Estate Appraisers in Nevada was approximately $67.63/hour.

 

4) Real Estate Appraisal Schools in Nevada

If you are interested in becoming a real estate appraiser in Nevada, you will need to take classes that are approved by the Nevada Real Estate Appraisal Commission

School status may change so please call them at 702.486.4033 prior to signing up for classes.

 

Real Estate Appraisal Schools in Nevada:
   

American Society of Farm Managers and Rural Appraisers
303-758-0190
 

American Society of Appraisers
703-478-2228
 

Appraisal Academy, The
309-681-8100
 

Appraisal Institute, National
312-335-4100

 

Appraisal Institute, Las Vegas Chapter
702-658-0816
 

Appraisal Institute, Reno-Carson-Tahoe Chapter
775-240-7529
 

Appraisal Institute, Sacramento-Sierra Chapter
916-452-1200
 

Chicopee Group, The
888-212-7341

International Association of Assessing Officers
312-819-6100
 

International Right of Way Association
310-538-0233
 

Key Realty School
702-313-7000 or 1-800-472-3893
 

Lincoln Graduate Center
800-531-5333
 

 

 

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