A career in home appraisals is as fulfilling as it is complex. Federal law requires that property appraisals be completed by a licensed or certified appraiser. Additionally, there are some restrictions or minimum requirements for inspecting specific types of property. Learn about the different types of appraisal licenses and the scope of work available for each license:
Appraisal Intern or Registered Appraiser
Once you have completed the required appraisal license courses, you will need to register with a certified or general appraiser to learn through real-world experience. The state exam is typically taken before or after the internship.
Licensed Residential Appraiser
After passing the Appraisal license course, you will now be able to perform appraisals for up to four residential units in one federally-recognized transaction that does not exceed $1,000,000.
Certified Residential Appraiser
Becoming certified requires 2,500 hours (or at least 2 years) working as an appraiser. Additional educational requirements include 20 more hours of elective courses approved by the Nevada Commission of Appraisers. This certification removes the limit of the transaction value.
Certified General Appraiser
General appraisers have no limit to the type or cost of the property being appraised. In addition to the educational requirements, you will also need to have completed 3,600 hours experience, or at least 3 years, working as an appraiser.
When starting out as a new appraiser, figuring out the different types of licenses might be overwhelming. Are you interested in becoming a Nevada appraiser? Visit KeyRealtySchool.com to get started with your Nevada appraisal license courses or renew your license.