How to Become a Real Estate Appraiser in New York

 

To get started as a real estate appraiser in New York, you must first satisfy all the requirements and apply to be a State Licensed Real Estate Appraiser Assistant.

 

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 New York:

1) Real Estate Appraiser Licensing Requirements in New York

2) Real Estate Appraiser Job Duties

3) Income Potential

4) New York Real Estate Appraisal Schools

 

How to Become a Real Estate Appraiser in New York

 

1) Real Estate Appraiser Licensing Requirements in New York

In New York, real estate appraisers MUST be licensed by the New York Department of State, Division of Licensing. 

 

To apply to be an Appraiser Assistant, you must:

 

After receiving a minimum of 2000 hours of appraisal experience in no less than 2 years, you may apply to become a Licensed Residential Appraiser. The license cost is $300 and is valid for 2 years.

There are 3 levels of real estate appraiser licensing in New York:

 

 License Levels Education Requirements Experience Requirements Exam Scope of Practice
State Licensed Real Estate Appraiser 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 commercial properties up to $250,000.
State 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.
 State 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 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 New York

According to the New York State Department of Labor, the median salary of Real Estate Appraisers in New York is approximately $54,680/year.

Salaries range from under $33,200/year for entry-level to over $64,000 for those with experience.

 

4) Real Estate Appraisal Schools in New York

If you are interested in becoming a real estate appraiser in New York, you will need to take classes that are approved by the New York Department of State

School status may change so please call the DOS at 212.417.5747 prior to signing up for classes.

 

Real Estate Appraisal Schools in New York:
   

American Real Estate School/Real Estate School of the Northeast

517 Route 111, Suite 217

Hauppauge, NY   11788

(631) 724-8844

  

Appraisal Education Network School

1461 Lakeland Avenue

Bohemia, NY   11716

(631) 563-7720

   

Baruch College CUNY/The Newman Institute

137 East 22nd Street

Box C-0120

New York, NY   10010

(212) 802-5940

 

Brooklyn School of Real Estate

157 Kings Highway

Brooklyn, NY   11223

(718) 621-7000

 

New York Real Estate Institute, Inc.

132 W 36th Street

Second Floor

New York, NY   10018

(212) 967-7508

 

New York State Association of Realtors

130 Washington Avenue

Albany, NY   12210

(518) 463-0300

 

The Professional Career Center

6443 Ridings Road

Suite 108

Syracuse, NY   13206

(315) 432-1045

 

Real Estate Education Center

407 Avenue P

Brooklyn, NY   11223

(718) 375-2266

 

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