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So, you want to become a real estate appraiser. Perhaps you’ve been in the real estate industry for a while, and you’ve decided to take your career in a different direction. Or maybe real estate is a brand new field for you. Either way, here is some important information on real estate appraisal in Georgia that you’ll want to know.
An appraiser's job is to supply impartial and unbiased information in order to estimate the value of a property. Each appraiser has to have the ability to analyze information from multiple sources and use sound judgment to determine the worth of a property. To be an appraiser, you need:
Beyond these skills, an appraiser also needs to obtain an appraisal license. A licensed real estate agent cannot perform an appraisal unless they are also a licensed appraiser. Here are specific steps in the appraisal process:
Appraisers in Georgia are regulated by the Georgia Real Estate Appraisers Board (GREAB). Besides GREAB, anyone interested in appraisal should know about the Uniform Standards of Professional Appraisal Practice (USPAP). This is the ethical code that appraisers in the United States must follow. All state-certified, practicing appraisers must follow these guidelines.
The following list represents the requirements to obtain a State Registered or State Trainee appraiser classification:
All applicants for the State Trainee classification must have also completed an AQB approved Supervisory/Trainee Course. Applicants for the State Registered classification are not required to complete the Supervisory/Trainee Course to obtain the classification; however, they will need to have completed the course prior to completing any supervised assignments that will be used to meet the experience requirements for obtaining a higher classification level.
There are three different levels of licensed or certified appraiser that a State Registered or State Trainee appraiser can aspire to attain:
To become a State Licensed Appraiser, a State Registered or State Trainee appraiser needs:
After State Licensed Appraiser, the next level up is the State Certified Residential Appraiser. In addition to what is required of the previous levels, an applicant for State Certified Residential Appraiser will need:
To progress from a State Registered or State Trainee Appraiser to State Certified General Appraiser, there’s a big jump in what needs to be accomplished. This is the top tier of appraisers, after all. In addition to what is required of the previous levels, an applicant for State Certified General Appraiser will need:
Applicants for State Licensed, State Certified Residential, and State Certified General Real Property Appraisers must take and successfully pass a qualifying examination prior to classification approval. The exam is administered by Applied Measurement Professionals (AMP) and has been developed to ensure that applicants have the knowledge necessary to protect the consumer and the applicant's ability to apply that knowledge to a consumer's particular situation.
Details regarding the test content as well as sample questions and all other details relative to applying for and taking the exam can be found within the Candidate Handbook available through the AMP website.
Note: State Registered and State Trainee applicants are not required to take an exam in order to obtain a Georgia classification, but must submit the Application for State Registered or the Application for State Trainee.
Maybe you’re still exploring which real estate path you want to take. Learn more about the requirements for a Georgia real estate license here!