The state of Nevada has similar requirements to most states. The exception is the number experience houses for a licensed appraiser and certified general higher are higher than most. 2,400 hours are required for the license and 3,500 hour are required for the certified general.
The Nevada Real Estate Division handles appraisal licensing. Note that all pre-licensing education must be approved by the Nevada Commission of Appraisers. A list of course providers is available on the division’s website.
Note that the qualifying course hours required are cumulative; the hours indicated for each level is the number of hours required overall and not the total for each license level.
Nevada Registered Intern
As a Nevada licensed real estate appraiser trainee, you will be able to complete inspections and appraisal reports under the direct supervision of a certified appraiser. However, the amount of work you do depends on the amount your supervisory appraiser allows you to do. He or she may just give you the task of researching property data and filling out reports. Ideally, the supervisory appraiser is a mentor who works with you through the entire appraisal process, helping and guiding you and answering questions. Finding a mentor (especially a good mentor) and obtaining experience hours can be the most challenging part of becoming a real estate appraiser.
Real estate appraising is a diverse field. There are many different factors and scenarios you will encounter and each appraisal assignment is unique. After completing your first few appraisals, you will understand the purpose of field work under a supervisory appraiser and on the job training (which can take six months to two years, depending on the minimum time requirements and how often you can do appraisal work). It requires specialized knowledge. Obtaining your trainee license demonstrates that you have the elementary knowledge necessary to begin your journey.
Basic Requirements: Must be registered under a Nevada certified appraiser and submit a completed application
Training Requirements: None
Education Requirements: 75 hours of qualifying education courses and three hours of Nevada law from a provider such as McKissock, a leading provider in appraisal education. Sign Up to get FREE Career Advising from McKissock!
Fee: $290.00
State Required Test: None
Nevada Licensed Residential Appraiser
A licensed real estate appraiser is the first level of licensing for appraising real property without a supervisory appraiser. With this credential, you are able to appraise non-complex one to four family residential units having a transaction value less than one million dollars ($1,000,000), complex one to four family residential units having a transaction value less than two hundred fifty thousand dollars ($250,000) and other types of real property having a transaction value less than two hundred fifty thousand dollars ($250,000) . While most states have adopted this kind limitation for this credential, some states may vary.
As a Nevada licensed real estate appraiser you may find yourself working for an appraisal firm or for yourself as a fee based appraiser in any of the dozens of cities and towns throughout the state. Your clients may be local, such as individuals, lawyers, accountants and small banks, or national clients such as from large appraisal management companies (AMCs), national lenders or government sponsored enterprises (Fannie Mae). Keep in mind, however, that many larger lenders and financial institutions may enlist only certified appraisers to complete their appraisals. The exception is if a certified appraiser accompanies you on the inspection and signs as the supervisory appraiser on the report. Regardless, as a field appraiser, your day will be divided between property inspections and completing research online and at local court houses and/or assessor’s offices. For most purposes you will be completing appraisals for home purchases, refinancing, divorces, estates and portfolios.
Basic Requirements: Submit a completed license application, show proof of passing the Appraisal examination and pay required fees
Training Requirements: 2,400 hours of experience in no fewer than 2 years
Education Requirements: Must have an associate’s degree, or higher, from an accredited college or university or successfully complete 30 semester hours of college-level courses from an accredited college or university; 150 hour of qualifying education courses and three hours of Nevada law from a provider such as McKissock, a leading provider in appraisal education. Sign Up to get FREE Career Advising from McKissock!
Fee: $420.00
State Required Test: Yes
Nevada Certified Residential Appraiser
A certified real estate appraiser is the second level of Nevada state licensing for the appraisal of real property. It is one above from licensed and one under general certified (commercial). With this credential you are able to appraise all types of non-complex one-to-four family residential property without regard to the transaction value and other types of real property having a transaction value of less than $250,000 (two hundred fifty thousand dollars) (exact limitations may vary by state).
Just like as a licensed real estate appraiser, you may find yourself working for an appraisal firm or for yourself as a fee based appraiser. Your clients may be local, such as individuals, lawyers, accountants and small banks, or national, such as from large appraisal management companies (AMCs), national lenders or government sponsored enterprises.
As a Nevada state certified appraiser, you would meet the requirements of many larger lenders and financial institutions which enlist only certified appraisers to for their transactions. Likewise, as a field appraiser, your day will be divided between property inspections and completing research online and at local court houses and/or assessor’s offices. For most purposes, you will be completing appraisals for home purchases, refinancing, divorces, estates and portfolios.
As a state certified appraiser, you will also qualify for many in-house positions at large financial institutions and AMCs (generally as a review appraiser). Although years of experience is often desired, having the state certification meets one of the basic requirements set by many employers and makes you more qualified than if you only have your license. Check out job postings for real estate appraisers to get an idea of what positions are available, what they entail and their exact requirements and qualifications. Working an in-house position is one of the alternatives to field work and you also get to enjoy salary pay and health benefits.
Basic Requirements: Submit a completed license application, show proof of passing the Appraisal examination and pay required fees
Training Requirements: 2,500 hours of experience in no fewer than 2 years including not less that 500 hours of experience relating to complex property
Education Requirements: Hold a bachelor’s degree or higher from an accredited college or university. (Official transcript required); 200 hours of qualifying education courses and three hours of Nevada law from a provider such as McKissock, a leading provider in appraisal education. Sign Up to get FREE Career Advising from McKissock!
Fee: $420.00
State Required Test: Yes
Nevada Certified General Appraiser
A certified general appraiser is the highest level of licensing. He or she is able to appraise all types of property – residential or commercial – with no value limit. Typically, these appraisers will spend the majority of their time appraising commercial properties. The type of appraisal could vary from a small, one-story office building valued at $250,000 to a high-rise apartment building with a value of $20,000,000.
The main differences between a certified appraiser and certified general appraiser are many additional hours of coursework and 1,500 of commercial appraising (non-residential) experience under a certified general appraiser and a bachelor’s degree. Commercial appraisals are much more complex and time consuming and require far more research. There is far less margin of error. The intended user of the appraisal may be basing a significant business decision on the outcome and an erroneous appraisal could result in a loss of millions of dollars. As a result, the requirements to become a certified general appraiser are more stringent.
As a Nevada certified general appraiser, you will typically work in a small to medium sized firm devoted to commercial work. You may but will rarely complete residential assignments. But if you do decide to complete residential appraisals you can (just like licensed or certified appraisers) do work for local and national clients devoted to residential transactions.
Basic Requirements: Submit a completed license application, show proof of passing the Appraisal examination and pay required fees
Training Requirements: 3,600 hours of experience in no fewer than 3 years including not less than 1,500 hours of experience of appraising commercial real estate.
Education Requirements: Hold a bachelor’s degree or higher from an accredited college or university. (Official transcript required); 300 hours of qualifying education courses, plus three hours of Nevada law from a provider such as McKissock, a leading provider in appraisal education. Sign Up to get FREE Career Advising from McKissock!
Fee: $520.00
State Required Test: Yes
Interested in Appraising? Check out the Ultimate Appraiser Career Guide!
Get an inside look at being a real estate appraiser
- Determine whether appraising really is the right career choice for you
- Discover the little known experience hour “loop hole”and how it can help you get more hours
- …and Much More!
When Should You Take The Appraisal Courses?
It is not required to take the required appraisal courses before finding a mentor.
However, I suggest taking the courses first for three reasons:
1) It will help you determine your level of interest and aptitude for actual appraising. Maybe you’ll change your mind after going through the courses, or maybe you’ll become much more interested. I offer an eBook about being an appraiser, but the courses will show you actual appraising and you’ll do it in theory by completing samples (case studies).
2) If you find a supervisory appraiser, he/she may tell you to come back later once you complete the courses for the trainee level (at a minimum) and obtain the trainee license, which could take two months, depending how quickly you can complete the courses. In the meantime, someone else could take your spot.
3) Your experience hours don’t count until you’ve taken the courses and obtained your trainee license. So if you wait to find your supervisory appraiser before taking the courses, you’ll lose two months worth of experience hours (or however long it takes you to get through the courses). You’ll get the experience, but the hours won’t officially count.
Here’s an example of a trainee posting from Craigslist illustrating this:
“Certified Residential Appraiser looking to take on a trainee… Preferable applicant will have a minimal 2 year degree and will have completed all required basic level training to acquire an appraiser trainee license. Please submit a resume for consideration.”
Of course, if you find a supervisory appraiser who is willing to take you on immediately even before you complete the courses or obtain your trainee license, do it! You don’t want to lose the supervisory appraiser. Just accept the loss of initial “log” hours for the immediate opportunity you have.
Appraiser Resources
Interested in knowing more? Join an appraiser on real appraisal inspections in our video series!
Get an inside look at being a real estate appraiser
- Determine whether appraising really is the right career choice for you
- Discover the little known experience hour “loop hole”and how it can help you get more hours
- …and Much More!