Is an exam required to become an Appraiser? There is no state examination for classification as a Registered Appraiser. You need only to complete the 90 hours of classroom courses and pass the final exams associated with each of the courses which comprise the 90 hours of instruction. A state examination is required for licensed and certified appraisers.
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What are the requirements for becoming a Registered Appraiser? To qualify as a state registered real property appraiser, an applicant must: A) be 18 years old; B) be a Georgia resident (or comply with non-resident statutes); C) be a high school graduate (or holder of a GED); D) complete 90 hours of appraisal courses approved by the Georgia Real Estate Appraisers Board (at least 15 hours covering the Uniform Standards of Professional Appraisal Practice - USPAP). Back to Top
What can a Registered appraiser appraise? A Registered appraiser may perform appraisals on any type of property except when the purpose of the appraisal is for use in a federally related transaction. Back to Top
What is a federally related transaction? A federally related transaction means any real estate related financial transaction, which A) a federal financial institutions regulatory agency engages in, contracts for, or regulates; and B) requires the services of an appraiser. Back to Top
What appraisals can the Registered Appraiser make (what appraisal assignments are not federally related transactions)? Registered Appraisers can perform a number of appraisal assignments. Just a few examples of situations that may require appraisals that are not federally related transactions include the following: A) When couples get divorced it may be necessary to value property for division of the assets. B) Property owners who want to sell may want to know the value before offering if for sale. C) Purchasers of property should want appraisals to be sure they are not paying too much. D) When property owners die, the estate may need to be valued for tax purposes or the purpose of selling the property. E) When someone is in jeopardy of losing their property through forced sale (condemnation) they may challenge the price offered by the condemning authority. Back to Top
Is continuing education required? Yes. All classifications of appraisers are required to take 14 hours of continuing education per year. Appraisers must take a minimum of 7 hours of USPAP every 2 years for their renewal. Back to Top
Is it going to be more difficult to obtain an appraiser classification in the future? It appears as though higher education levels and more stringent guidelines will continue to be added. The Appraiser Qualifications Board establishes educational and experience standards for Appraisers. Periodically they adopt rules requiring additional education or higher levels of training. The Georgia Appraisers Board then reviews and considers adopting these changes and including them within state requirements. Licensees typically are grandfathered in for a period of time and do not have to meet new changes to elevate their classification status before being subject to any new regulations.
In July 2005 new regulations were implemented. These changes will not require someone who has attained a classification prior to July 2005 to comply with the new changes unless the licensee wants to change his/her classification after 12/07.
The bottom line is, you should obtain a license as soon as you are able as over time more licensing regulations will continue to be added. A current requirement chart is posted under the Appraisal button or can be obtained from the school office. Back to Top
Can appraisers be home inspectors? Absolutely. The training for becoming a home inspector will make the appraiser a much better property inspector. The property's value (appraiser's function) is directly dependent on the property's condition (home inspector's job). These professions complement each other nicely. Back to Top
How much money does a Registered Appraiser make? This depends upon you. How hard do you want to work? You can earn money on any transaction you are qualified to perform on your own or you can work under another Appraiser who is more qualified and establish a pay scale while you earn experience. Back to Top
