CRA License Requirements

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Residential certified real estate appraiser means any person who holds a current, valid license issued by the board to appraise one to four residential units, without regard to transaction value or complexity, and perform appraisals of other types of real estate having a transaction value of two hundred fifty thousand dollars or less. This includes the appraisal of vacant or unimproved land that is utilized for one to four family residential units.

Education Criteria - 200 hours of AQB required Core Curriculum courses as listed here AND an Associate Degree or higher OR 21 semester credit hours in the following courses: English Composition; Principles of Economics (Micro or Macro); Finance; Algebra, Geometry or higher math; Statistics; Computer Science; and Business or Real Estate Law.

Experience Criteria - A minimum of 3500 hours of appraisal experience in no fewer than 24 months is required. The maximum allowable credit that shall be applied toward the experience requirement in a 12-month period is 1750 hours.

Examination Criteria - The education and testing requirements for a license as a Residential Certified Real Estate Appraiser must be satisfied prior to submission of the application for experience review. Candidates must successfully complete the Residential Certified Appraiser Examination with a passing score of 75%. Click on the following link to register, with PSI, for the exam: http://www.psiexams.com.

     
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