A licensed residential appraiser may appraise one-to-four (non-complex) residential units with a transactional value less than $1 million and one-to-four (complex) residential units with a transactional value less than $400,000.

Step 1. License and Education

Education requirement: at least 150 hours* of qualifying education:

1. Trainee Real Property Appraiser License OR appraiser trainee qualification education (at least 75* hours)
2. Residential Market Analysis and Highest & Best Use (15 hours)
3. Residential Site Valuation and Cost Approach (15 hours)
4. Residential Sales Comparison and Income Approaches (30 hours)
5. Residential Report Writing and Case Studies (15 hours)

*Certain states may require additional education, so please refer to the state's requirements.

Appraisal Institute Online Education Packages  (pricing)

FLORIDA licensees: The state of Florida has different versions of the following courses: Residential Site Valuation and Cost Approach - Florida Version and Residential Report Writing and Case Studies - Florida Version.

Step 2. State Examination

The successful pass of the Licensed Residential Real Property Appraiser examination.

Step 3. Work Experience

• The accumulation of 1,000 hours of experience in six months (or more) - experience minimums may vary in each state, so please refer to the state's requirements, or;
• By satisfying Practical Applications of Real Estate Appraisal (PAREA). Learn more!