Appraiser Licensing

 

As of August of 2008, Nevada had four (4) levels of appraiser licensing, they are Registered Intern, Licensed Residential Appraiser, Certified Residential Appraiser and Certified General Appraiser. 

To become a Registered Intern an individual must completed the following; a 30 hour basic appraisal principles course, a 30 hour basic appraisal procedures course, a 15 hours National USPAP and a 3 hour Nevada Law course. A $ 100 application fee and and $ 190 registration fee are also required for the 2-year license.

To become a Residential Appraiser an individual must complete the following; a 30 hours basic appraisal principles course, a 30 hour basic appraisal procedures class, a 15 hours National
USPAP course, a 15 hour residential market analysis / highest and best use course, a 15 hour valuation of site and cost approach course, a 30 hour residential sales comparison and income approach class, a 15 hour residential report writing / case studies course and a 3 hour Nevada Law course. Proof of at least 2 years and 2,400 hours of experience working as an appraiser or intern is required together with proof of passing the appraisal exam or proof of active licensure in another state. A $ 100 application fee and and $ 240 registration fee and a $ 50 Federal Financial Institutions Examination Council fee are also required for the 2-year license. 

To become a Certified Residential Appraiser an individual must complete the following; a 30 hours basic appraisal principles course, a 30 hour basic appraisal procedures class, a 15 hours National
USPAP course, a 15 hour residential market analysis / highest and best use course, a 15 hour valuation of site and cost approach course, a 30 hour residential sales comparison and income approach class, a 15 hour residential report writing / case studies course, 15 hour statistic, modeling and finance course, a 15 hour advanced residential applications and case studies class, 20 hours of elected appraisal courses and a 3 hour Nevada Law course.  An applicant for a certificate as a residential appraiser must also; hold an associate degree or higher from an accredited college or university; or have earned at least a total of 21 semester credit hours or its equivalent in the following subjects, with a minimum of 3 semester credit hours or its equivalent in each of the following subjects, from an accredited college or university; English composition, Principles of micro- or macroeconomics, Finance, Algebra, geometry or a higher level of mathematics, Statistics, Introduction to computers, 
including word processing and spreadsheets; and business or real estate law.  Applicants must also show proof of at least 2 years of and 2,500 hours experience working as an appraiser or intern, including not less that 500 hours of experience relating to complex property (NRS 645C 0.55 "Complex property" defined), Show proof of passing the Appraisal examination or proof of active licensure in another state; and pay a $ 100 application fee and and $ 240 license fee and a $ 50 Federal Financial Institutions Examination Council fee are also required for the 2-year license. 

To become a Certified General Appraiser an individual must complete the following; a 30 hours basic appraisal principles course, a 30 hour basic appraisal procedures class, a 15 hours National
USPAP course, a 30 hour general market analysis / highest and best use course, a 30 hour valuation of site and cost approach course, a 30 hour general sales comparison and income approach class, a 30 hour general report writing / case studies course, a 60 hour general appraiser income approach course, a 30 hour general appraiser report writing and case studies course, a 15 hour statistics, modeling and finance course, 3 hours of Nevada Law and 30 hours of elected appraisal courses. An applicant for a certificate as a certified general appraiser must also; hold an bachelor's degree or higher from an accredited college or university; or have earned at least a total of 30 semester credit hours or its equivalent in the following subjects, with a minimum of 3 semester credit hours or its equivalent in each of the following subjects, from an accredited college or 
university; English composition, Principles of micro- or macroeconomics, Finance, Algebra, geometry or a higher level of mathematics, Statistics, Introduction to computers, including word processing and spreadsheets, business or real estate law and two (2) elective courses in accounting, geography, agricultural economics, business management or real estate.

Applicants must also show proof of at least 3 years of and 3,600 hours experience, including not less than 1,500 hours of experience appraising commercial real estate and Show proof of passing the Appraisal examination or proof of active licensure in another state; and pay a $ 100 application fee and and $ 340 license fee and a $ 50 Federal Financial Institutions Examination Council fee for the 2-year license. 

We suggest that you confirm the licensing requirements at the Nevada Real Estate Division's Internet site at http://www.red.state.nv.us . . the Nevada State Appraisal Internet site also provide a list of approved educational providers and approved appraiser licensing courses.

A number of appraisal schools offer the appraisal courses noted in the above paragraphs. Some are offered online. Seventy-five (75) hours of appraisal related course work runs about $ 15 per course hour.

 


                                       



Copyright 2007 Horizon Village Realty & Appraisal

Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.