Certified Residential Real Property Appraiser

What can I appraise as a Certified Residential Real Property Appraiser?

A Certified Residential Real Property Appraiser can appraise one to four residential units without regard to value or complexity.

What steps do I need to take?

Step 1: You must hold a bachelor’s degree (or equivalent)

Step 2: Complete at least 200* hours of qualifying education

• Basic Appraisal Principles (30 Hours)
• Basic Appraisal Procedures (30 Hours)
• 15-Hour National USPAP Course (15 Hours)
• Valuation Bias and Fair Housing Laws and Regulations (8 hours)
• Residential Market Analysis and Highest & Best Use (15 Hours)
• Residential Site Valuation and Cost Approach (15 Hours)
• Residential Sales Comparison and Income Approaches (30 Hours)
• Residential Report Writing and Case Studies (15 Hours)
• Real Estate Finance, Statistics, and Valuation Modeling (15 Hours) 
• Advanced Residential Applications and Case Studies/Part 1 (15 Hours)
• Elective – one of the following: Advanced Residential Report Writing/Part 2 (30 Hours) or Review Case Studies – Residential (15 Hours) or Review Theory – Residential (17 Hours)

OR

If you hold a valid Trainee Real Property Appraiser credential, you must complete the following additional courses:

• Residential Market Analysis and Highest & Best Use (15 Hours)
• Residential Site Valuation and Cost Approach (15 Hours)
• Residential Sales Comparison and Income Approaches (30 Hours)
• Residential Report Writing and Case Studies (15 Hours)
• Real Estate Finance, Statistics, and Valuation Modeling (15 Hours) 
• Advanced Residential Applications and Case Studies/Part 1 (15 Hours)
• Elective – one of the following: Advanced Residential Report Writing/Part 2 (30 Hours) or Review Case Studies – Residential (15 Hours) or Review Theory – Residential (17 Hours)

OR

If you hold a valid Licensed Residential Real Property Appraiser credential, you must complete the following additional courses:

• Real Estate Finance, Statistics, and Valuation Modeling (15 Hours) 
• Advanced Residential Applications and Case Studies/Part 1 (15 Hours)
• Elective – one of the following: Advanced Residential Report Writing/Part 2 (30 Hours) or Review Case Studies – Residential (15 Hours) or Review Theory – Residential (17 Hours)

*Check with your state to see if additional courses (or criteria) are needed.

Step 3: Obtain 1,500 hours of experience in no fewer than 12 months. Be sure to consider our PAREA alternative for gaining your experience.

Step 4: Pass the National Certified Residential Real Property Appraiser Exam.