Residential Appraising Services
Residential appraisers provide an unbiased estimate of a home or residential unit’s value. There are two tracks for residential appraisers: You can become a licensed residential real property appraiser or a certified residential real property appraiser. We`ve broken it all down so you can further explore the pathway to become a residential real estate appraiser.
Residential appraisers provide an unbiased estimate of a home or residential unit’s value.
Read on to find answers to your questions about residential appraisers to see if it`s a career that fits you! We are here to help you get started on your career journey with a clear path and guidance through licensing and certification.
What else do residential appraisers do?
Residential appraisers provide an unbiased estimate of a home or residential unit’s value, but they also do so much more:
- Help a seller establish an acceptable sales price, and a buyer establish a reasonable offering price.
- Estimate the value of a home for a potential refinance.
- Identify areas that could be improved to enhance a property`s value before listing it for sale.
- Establish a starting point to combine the ownership of various properties under one owner.
- Provide expert testimony and valuation reports in legal cases involving divorces, property disputes, or eminent domain proceedings.
- Establish the value of residential properties for taxation and equitable distribution in estate planning.
- Provide evidence for a tax appeal for homeowners who believe their property has been overvalued for tax assessment purposes.
You’ll need to hold a licensed or certified residential real property credential to become a residential appraiser.
Licensed Residential Real Property Appraisers appraise properties below a certain value and at a lower value cap for complex properties. Certified Residential Real Property Appraisers don’t have value or complexity limitations for residential appraisals on homes with up to four units.
Each state has different requirements for becoming certified or licensed, including qualifying education, experience requirements and exams. Certification requires more education and experience. To work toward either license, you’ll first complete introductory courses then check with your state regulatory board on specific requirements.
Don’t worry! We’ve outlined the path for you. If you choose either residential license type, we offer qualifying education courses and have fully mapped out your path to licensing and certification.