APPRAISAL LICENSE REQUIREMENTS
New entry requirements in effect as of January 1, 2008
Virginia has adopted the Segmented Scenario listed in the Executive Summary of the 2008 Real Property Appraiser Qualification Criteria found here.
Effective January 1, 2008:
| LICENSED APPRAISER TRAINEE |
| This license gives recognition to the trainee/apprentice and allows the trainee to perform real estate appraisals under the supervision of a licensed appraiser. This license is NOT mandatory at this time. |
| Education: |
75 hours of appraisal education of which 15 hours must be in Uniform Standards of Professional Appraisal Practice. |
| Experience: |
None required. |
| LICENSED RESIDENTIAL REAL ESTATE APPRAISER |
| This license permits the holder to appraise non-complex residential properties of one to four residential units up to a transaction value of one million dollars and non-complex non-residential properties up to a transaction value of $250,000. |
| Education: |
150 hours of appraisal education of which 15 hours must be in Uniform Standards of Professional Appraisal Practice. |
| Experience: |
2,000 hours of appraisal experience in no fewer than 12 months. |
| CERTIFIED RESIDENTIAL REAL ESTATE APPRAISER |
| This license permits the holder to appraise any residential property regardless of the transaction value and any non-residential property with a transaction value of no more than $250,000. |
| Education: |
200 hours of appraisal education of which 15 hours must be in Uniform Standards of Professional Appraisal Practice. Associates degree or higher in any field of study; or, in lieu of the required degree, 21 semester credit hours covering the following subject matter courses: English Composition; Principles of Economics (Micro or Macro); Finance; Algebra, Geometry or higher mathematics; Statistics; Computer Science; and Business or Real Estate Law. |
| Experience: |
2,500 hours of appraisal experience during no fewer than 24 months. |
| CERTIFIED GENERAL REAL ESTATE APPRAISER |
| This license permits the holder to appraise any real property. |
| Education: |
300 hours of appraisal education of which 15 hours must be in Uniform Standards of Professional Appraisal Practice and 30 hours in Advanced Income Appraisal. Bachelors degree or higher in any field of study; or, in lieu of the required degree, 30 semester credit hours covering the following subject matter courses: English Composition; Prinicples of Economics (Micro or Macro); Finance; Algebra, Geometry or higher mathematics; Statistics; Computer Science; and Business or Real Estate Law; and two elective courses in accounting, geography, agricultural economics, business management, or real estate. |
| Experience: |
3,000 hours of appraisal experience during no fewer than 30 months. A minimum of 1,500 hours must be in non-residential appraisal assignments and include assignments, which demonstrate the use and understanding of the income approach. |
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"I would go to the moon if Alpha taught classes there! Best class of the year!" -William C. Green, GSH Real Estate
"I was told Alpha was the best and George [Safire] was the best. So much so, that I commuted 300 miles/6 hours a day just to attend this specific class. They were all correct." -Frank D'Angelo
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