How to Become a Real Estate Appraiser in Tennessee

 

To start out as a real estate appraiser in Tennessee, you must first satisfy all the state's requirements and register as a 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 Tennessee:

1) Real Estate Appraiser Licensing Requirements in Tennessee

2) Real Estate Appraiser Job Duties

3) Income Potential

4) Tennessee Real Estate Appraisal Schools

 

How to Become a Real Estate Appraiser in Tennessee

 

1) Real Estate Appraiser Licensing Requirements in Tennessee

In Tennessee, real estate appraisers MUST be licensed by the Tennessee Real Estate Appraiser Commission. 

 

To register as a Trainee, you must:

A Trainee must work under the technical supervision of a licensed appraiser.  He/she may assist on any appraisal within the scope of practice of the supervising appraiser.

After receiving a minimum of 2000 hours of appraisal experience in at least 2 years, you may apply to become a Licensed Residential Appraiser.

There is an application fee of $125 and a hefty licensing fee of $400. The exam costs $100.

There are actually 3 levels of real estate appraiser licensing in Tennessee:

 

 License Levels Education Requirements Experience Requirements Exam Scope of Practice
Residential

License

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.
Residential

Certification

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.
 General

Certification

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 Tennessee

According to the Tennessee Department of Labor and Workforce Development, the median salary of Real Estate Appraisers in Tennessee was approximately $34,700/year.

Salaries can range from under $22,600/year to over $74,000 for those with experience.

 

4) Real Estate Appraisal Schools in Tennessee

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

School status may change so please call the Commission at 615.741.1831 prior to signing up for classes.

 

Real Estate Appraisal Schools in Tennessee:
 

CONTINUAL LEARNING INSTITUTE            

2002 RICHARD JONES ROAD, SUITE C-305                   

NASHVILLE, TN 37215     

615-297-1800

 

UNIVERSITY OF MEMPHIS

RICHARDSON TOWERS, #101

MEMPHIS, TN 38152

901-678-2381

 

SOUTHWEST TN COMM COLLEGE               

5983 MACON COVE                         

CONTINUING EDUCATION          

MEMPHIS, TN 38134     

901-382-8324

 

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