A Career In Appraisal...Is It Really For You?
Only you can answer this question. The First step is to learn how to appraise a home. We recommend the Appraisal Education Network School and the Merrell Institute as a great place to start. Simply click on their link to go to their web site.
In New York State, you need 90 hours of approved education. The courses include R-1, which is a 30 hour introduction course, R-2, which is a 30 hour course designed to actually teach you the mechanics of performing an appraisal, AQ-1, a 15 hour course designed to teach you Fair Housing regulations and Environmental Disclosures (both important to appraisers) and last, but certainly not least, USPAP (Uniform Standards of Professional Practice) a 15 hour course developed to assist the appraiser as to the ethical understanding of the appraisal practice. Each of these courses also includes a test at the conclusion of the course. Once you complete the courses and pass the examinations, you will receive 4 certificates (1 per course) which you will file with New York State. You will receive a License from the State as a NEW YORK STATE LICENSED APPRAISER ASSISTANT. An assistant does not have to pass a State Test. An assistant does not have any experience. Once you obtain an appraisal position with an appraisal firm, you will start performing appraisals which will be reviewed to make sure they meet lender guidelines as well as USPAP guidelines. Once you have worked in the field for 2 years and have gained the needed experience as an assistant, (and upon passing a NY State Exam) you can file to become a fully licensed appraiser. Once fully licensed, you can open your own firm and hire assistants under your supervision. There are also 2 additional licenses you may qualify for, once you have gained your experience, provided you continue your education. You may also wish to file with the Federal Government to perform FHA transactions. For more information of FHA appraisals you should refer to the R-1 course for types of assignments.
No one can guarantee you success in this field. You may not even like the job. But, for a nominal cost (less than the cost of 1 college course at a private college) you can learn what is needed to become an appraiser in New York State. Presently the cost is $ 895.00 including all the manuals, books, handouts and finals. What is terrific about this educational opportunity is very simple. It takes weeks, not months or years to see if it is for you. You may decided on part-time or full-time. The choice is up to you and the firm that employs you. Some people get into the field immediately, and others enter months or years later. The field allows itself for flexibility, and for variety. One thing that stands apart is that you are not stuck behind a desk every day. You see homes, meet people, deal with professionals in banks and lending institutions and your appraisals are relied upon when the bank make lending decisions. "Truly an executive career."
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