8 steps to become a real estate appraiser

8 steps to become a real estate appraiser

Have you ever thought about how the prices of homes and plots are fixed? If you are curious to know, here you will learn in this article that how a real estate appraiser set a stage for investors and buyers. Real estate appraisers can find the value of real estate. They make their relations closely with agents, 

investors, banks, buyers and sellers.

However, becoming a real estate appraiser is not a difficult task. However, it requires time and effort. Therefore, you need to follow the following steps.  

1.Age limit

There is no age limit for maximum age, but you must be at least 18 years of age when applying to becoming a real estate appraiser. It does not need any degree from a university or college. You can step into the field of real estate after finishing your school studies. Remember, you can only become a real estate appraiser if you are interested in housing analysis, market research, and report writing.

2.150 hours of coursework

As you read above, becoming a real estate appraiser does not need any degree from a recognized university, but you have to complete 150 hours of coursework. Getting into real estate requires an essential course to apply for an exam. After the course, you have three attempts to pass the exam. You have to complete the coursework again if you failed the exam, even in the third exam.

3.Apply for an appraisal license

You need to download an application form for a license from the website of the department of real estate. In addition, you will need an approval and course completion certificate from the institution where you had completed your coursework.

4.Background checking

After you apply for the license, the office of real estate appraisers will verify your documents. After that, they will issue you a date for your license exam. You will also receive a letter in which you will be required to provide all your detail. After the submission of the fee and essential documents now you are ready for the exam.

5.Pass the Exam

Now you are ready for the exam. You can pass the exam for one year. If you do not pass the exam in that duration or do not appear in any exam, you have to follow the whole procedure again. After passing the exam, pay some additional charges and get your license. But keep in mind, you don’t have to appraise solely. You should take help from some skilled appraised who can sharpen and polish your knowledge.

6.Become a trainee

The real estate sector is a wide field. First, you must become a trainee and work there at least 2000 hours to become a real estate appraiser. Then, if you find a good trainer, help him in writing reports and inspections for almost 50 weeks. Once you completed your time as a trainee, your work will require approval from an established appraiser. However, it is not necessary that the one with whom you were trainee approved your work. It could be another, too.

7.Get Approval

As we discussed above, to become a trainee with a professional appraiser and you completed that 2000 hours training. Now, you are a certified real estate appraiser. You can now schedule your own task and projects. But, get final approval from your trainer. In approval, he will also include the quality of your work and ethics.

8.Become a residential real estate appraiser

Don’t stop at the place where you are. After getting approval from your instructor, now apply to become a Taj residential real estate appraiser. For the license eligibility, you are required to receive supervisor approval, practised report writing, and practised appraising. Now, send your application to the office of the real estate appraiser.

Conclusion

Now you are a professional real estate appraiser. You need to showcase yourself now and make yourself available to investors and buyers. You can also do a job with any real estate company. Many companies are willingly ready to hire you. However, self-employment is a better option. Once you become a qualified appraiser, ‘sigma properties’ welcomes you.

Author Bio

Muhammad Junaid is a senior Analyst and Search Engine Expert. Extensive experience being a lead writer in Sigma Properties | Nova City. Work for years with local and international enterprises. Also, represent well-known brands in the UAE.

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