How to Become a Real Estate Appraiser in Ohio

How to Become a Real Estate Appraiser in Ohio

ohThe Ohio Division of Real Estate & Professional Licensing in Columbus is in charge of the receiving, approving and processing of real estate appraising applications. In Ohio, an appraiser trainee is titled as a Registered Appraiser Assistant. You must get this license to obtain the experience hours that qualify you to take the test for licensed, certified, and certified general licenses. Note that you do not need to take each test for each level. You can go straight to the certified or certified general tests if you have completed the minimum required experience hours and coursework for those levels.

Ohio Registered Appraiser Assistant


Basic Requirements: Good ethical conduct and legal history
Education Requirements: None
Training Requirements: 75 hours of coursework
Fees: $150 Application Fee + $70 Webcheck fingerprinting
State Test Required: None

The registered appraiser assistant (appraiser trainee) license is the very first level of licensing (the license title varies state to state). Althought the AQB doesn’t require a trainee license level, Ohio requires this in order for you to obtain the supervised experience hours necessary for your desired level of licensing or certification. The minimum experience hour requirements are set by the Appraiser Qualifications Board (AQB).

As a 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 is probably 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 1-5 years, depending on your states 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.

Ohio Licensed Real Estate Appraiser

licensed-appraiser
Basic Requirements: Good ethical conduct and legal history
Education Requirements: Associate’s Degree (as of January 1, 2015) OR In lieu of required degree, thirty (30) semesters credit hours of college-level education from an accredited college, junior college, community college, or university.
Training Requirements: 2,000 supervised hours of appraisal experience under a certified real estate appraiser in no less than 24 months + 70 hours of additional coursework
Fees: $175 Application Fee + $70 Webcheck fingerprinting
State Test Required: Yes

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 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 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.

Ohio Certified Real Estate Appraiser

Ad-GuideBasic Requirements: Good ethical conduct and legal history
Education Requirements: Bachelor’s degree or higher (in any field) (as of January 1, 2015) from an accredited college or university
Training Requirements: 2,500 supervised hours of appraisal experience in no less than 24 months under a certified real estate appraiser + 50 hours of additional coursework (in addition to the 75 hours required for the state license)
Fees: $175 Application Fee + $70 Webcheck fingerprinting
State Test Required: Yes

A certified real estate appraiser is the second level of Ohio 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 state certified appraiser, you now 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.

After you get you state certification, you may desire to appraise commercial property. For this you will seek the certified general appraiser credential.

Ohio Certified General Real Estate Appraiser

Basic Requirements: Good ethical conduct and legal history
Education Requirements: Bachelor’s degree or higher (in any field) (beginning January 1, 2015) from an accredited college or university
Training Requirements: 3,000 supervised hours of appraisal experience under a certified real estate appraiser of which 50% must be of appraisal of property other than residential properties + 190 hours of additional coursework (in addition to the hours of coursework required by both the state license and certification)
Fees: $175 Application Fee + $70 Webcheck fingerprinting
State Test Required: Yes

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 certified general appraiser, you will typically work in a small to medium sized firm devoted to commercial work. You may but rarely will 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.

Per the AQB, the minimum requirements to become a certified general appraiser are 300 hours of qualifying education,  3,000 hours of field experience in no fewer than 30 months; at least 1,500 hours in non-residential and a Bachelor’s degree or higher.

Curious about becoming an appraiser? Download our 60-paged eBook written by a State Certified Appraiser that provides an in-depth look into the profession!

Resources:

Ohio Division of Real Estate & Professional Licensing

Want to know more? Read our 60-paged eBook written by a state certified appraiser!
  • Front CoverGet 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!

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