How To Become an Appraiser

Being an appraiser is relatively easy but becoming one is a different story. Over the years it has become more challenging to break into the real estate appraisal profession. To become an appraiser, one must take numerous coursework which fortunately can be taken online, followed by finding a mentor to train you and passing difficult state exams. The most common coursework provider is through a well reputable company called, McKissock. McKissock offers individual courses, as well as package options providing all required coursework at a discount price.

Finding a mentor is very challenging, any appraiser will tell you this. The mentor must be at the certified level and at this level for a minimum of three years in order to train someone. It's especially difficult finding a mentor because appraisers don't see the logic behind training future competition. They also see a trainee as liability and time consuming. An aspiring appraiser needs to get creative and perceive. One must come up with an idea to present an appraiser with an incentive to train them. Similar to aspiring pilots, appraisers need logged experience hours. The required number of hours varies according to which licensure level one wants to obtain and what state they're getting licensed in.

Once a trainee has all coursework completed and has all required hours logged, a state exam must be taken and passed. To become certified, a passing score of 80% is required, however, I recommend an aspiring appraiser verifies this with their state board. These requirements do change from time to time.

Prior to the establishment of USPAP and the Dodd Frank Act, appraisers didn't need half the requirements today. Many older appraisers were grandfathered into the industry, at one point college degrees were not required.

This point leads to my argument that although one appraiser may be seasoned / more experienced, they likely did not have to go to hell and back to become an appraiser. The younger appraisers are college educated, obtained a +/- two-year apprenticeship and took state exams that have become significantly more difficult to pass compared to earlier days.

Once one has completed all requirements to become an appraiser, and finally get their state license in the mail, it's a very exhilarating feeling. Professions that are difficult to get into, such a lawyer, doctor, or an appraiser, typically pay well. They pay well and hold their value because of the great lengths one needs to endure in order to have such a title. So, although, it's painstaking to become a real estate appraiser, in the end it's worth it. Appraisal fees are high for good reason. Appraisers have in-depth knowledge and industry expenses. It cost money to become an appraiser and to retain as one. Appraisers have MLS multiple listing service dues which are typically semi-annual, license renewal fees keep increasing and must be renewed every two years. These are just some business expenses to be mentioned.

Being an appraiser is very rewarding. Working in this profession offers flexibility, independence and adventures. Thanks to being an appraiser, I have had the opportunity to see many unique structures and areas. My company, EFK Appraisal Services, offers appraisal services throughout Southern California, Northwestern Illionois and Eastern Iowa. I have traveled to some of the most dangerous neighborhoods, and most affluent prestigious neighborhoods of America. When I began working in the appraisal industry, I started out in the Los Angeles and Orange County market. These are very interesting market areas because of the diversity. South and east Los Angeles is about thirty to sixty minutes from places like Beverly Hills. Our Midwest branch is based out of a quaint small town in northwestern Illinois, called Galena. The town of Galena, Illinois is rich in history dating to the 1800s with strong Civil War era roots. General Grant, the leader of the Union Army and at one point the president of the United States, has a gorgeous estate in Galena along the banks of the Galena River. Former president, Abraham Lincoln once visited Galena and delivered speeches in numerous buildings which still stand today. Appraising homes in this area is fascinating due to their historical nature. Some of these homes date back to year 1800. The history comes to life in these homes while doing inspections; a staircase might have six-inch-wide steps or gaps along outside walls (former lookout and rifle points).

If one truly wants to become an appraiser, I recommend not giving up. But brace yourself, you're going to hit many roadblocks, even after becoming licensed. I'm grateful I stuck to the appraisal profession and don't plan on exiting any time soon. I look forward to having a lifelong career as a real estate appraiser and being the President of EFK Appraisal Services.

By:

EFK Appraisal Services, Inc