Become Licensed
I. General
A. The Certified Residential Real Property Appraiser classification qualifies the appraiser to appraise one-to-four residential units without regard to value or complexity.
1. The classification includes the appraisal of vacant or unimproved land that is utilized for one-to-four residential units purposes or for which the highest and best use is for one-to-four residential units.
2. The classification does not include the appraisal of subdivisions for which a development analysis/appraisal is necessary.
B. All Certified Residential appraisers must comply with the COMPETENCY RULE of USPAP.
II. Examination
A. The AQB-approved Certified Residential Real Property Appraiser examination must be successfully completed. The only alternative to successful completion of the Certified Residential examination is the successful completion of the Certified General examination.
B. The prerequisites for taking the AQB-approved examination are completion of:
1. Two hundred (200) creditable class hours as specified in the Required Core Curriculum;
2. Completion of the requirements specified in Section III.B. or III.C., ”Qualifying Education”; and One thousand five hundred (1,500) hours of qualifying experience obtained in no fewer than twelve (12) months.
III. Qualifying Education
A. All college-level education must be obtained from a degree-granting institution by the Commission on Colleges, a national or regional accreditation association, or by an accrediting agency that is recognized by the US Secretary of Education. Applicants with a college degree from a foreign country may have their education evaluated for “equivalency” by one of the following:
1. An accredited, degree-granting domestic college or university;
2. A foreign degree credential evaluation service company that is a member of the National Association of Credential Evaluation Services (NACES); or A foreign degree credential evaluation service company that provides equivalency evaluation reports accepted by an accredited degree-granting domestic college or university or by a state licensing board that issues credentials in another discipline.
B. Applicants for the Certified Residential credential must satisfy at least one of the following five options (III.B.1., III.B.2., III.B.3., III.B.4., or III.B.5.):
1. Possession of a Bachelor’s Degree in any field of study;
2. Possession of an Associate’s Degree in a field of study related to:
- a. Business Administration;
- b. Accounting;
- c. Finance;
- d. Economics; or
- e. Real Estate
3. Successful completion of 30 semester hours of college-level courses that cover each of the following specific topic areas and hours:
- a. English Composition (3 semester hours);
- b. Microeconomics (3 semester hours);
- c. Macroeconomics (3 semester hours);
- d. Finance (3 semester hours);
- e. Algebra, Geometry, or higher mathematics (3 semester hours);
- f. Statistics (3 semester hours);
- g. Computer Science (3 semester hours);
- h. Business or Real Estate Law (3 semester hours); and
- i. Two elective courses in any of the topics listed above or in accounting, geography, agricultural economics, business management, or real estate (3 semester hours each).
4. Successful completion of at least 30 semester hours of College Level Examination Program® (CLEP®) examinations from each of the following subject matter areas:
- a. College Algebra (3 semester hours);
- b. College Composition (6 semester hours);
- c. College Composition Modular (3 semester hours);
- d. College Mathematics (6 semester hours);
- e. Principles of Macroeconomics (3 semester hours);
- f. Principles of Microeconomics (3 semester hours);
- g. Introductory Business Law (3 semester hours); and
- h. Information Systems (3 semester hours).
5. Any combination of III.B.3 and III.B.4 above that ensures coverage of all topics and hours identified in III.B.3.
C. As an alternative to the requirements in Section III.B. above, individuals who have held a Licensed Residential credential for a minimum of five (5) years may qualify for a Certified Residential credential by satisfying all of the following:
1. No record of any adverse, final, and non-appealable disciplinary action affecting the Licensed Residential appraiser’s legal eligibility to engage in appraisal practice within the five (5) years immediately preceding the date of application for a Certified Residential credential;
2. Successful completion of the additional required qualifying education as specified in Section III.F. below;
3. Successful completion of the required experience as specified in Section IV below; and
4. Successful completion of the Certified Residential Real Property Appraiser examination as specified in Section II above.
D. The Certified Residential Real Property Appraiser classification requires completion of two hundred (200) creditable class hours as specified in the Required Core Curriculum. As part of the 200 required hours, the applicant shall successfully complete the 15-Hour National USPAP Course, or its AQB-approved equivalent, and the examination. There is no alternative to successful completion of the USPAP Course and examination.
E. Appraisers holding a valid Trainee Appraiser credential may satisfy the educational requirements for the Certified Residential Real Property Appraiser credential by successfully completing the following additional educational hours:
1. Residential Market Analysis and Highest and Best Use - 15 Hours
2. Residential Appraiser Site Valuation and Cost Approach - 15 Hours
3. Residential Sales Comparison and Income Approaches - 30 Hours
4. Residential Report Writing and Case Studies - 15 Hours
5. Statistics, Modeling and Finance - 15 Hours
6. Advanced Residential Applications and Case Studies - 15 Hours
7. Appraisal Subject Matter Electives - 20 Hours
TOTAL - 125 Hours
F. Appraisers holding a valid Licensed Residential Real Property Appraiser credential may satisfy the educational requirements for the Certified Residential Real Property Appraiser credential by successfully completing the following additional educational hours:
1. Statistics, Modeling and Finance - 15 Hours
2. Advanced Residential Applications and Case Studies - 15 Hours
3. Appraisal Subject Matter Electives - 20 Hours
TOTAL - 50 Hours
G. Appraisers holding a valid Trainee Appraiser credential wishing to change to the Certified Residential Real Property Appraiser classification must also satisfy the college-level education requirement as specified in III.B.
H. Appraisers holding a valid Licensed Residential Real Property Appraiser credential wishing to change to the Certified Residential Real Property Appraiser classification who do not meet the requirements outlined in Section III.C. must also satisfy the college-level education requirements as specified in Section III.B.
I. Appraisers holding a valid Licensed Residential Real Property Appraiser credential wishing to change to the Certified Residential Real Property Appraiser classification who meet the requirements outlined in Section III.C. do not need to satisfy college-level education requirements as specified in Section III.B.
J. Appraisers holding a valid Certified General Real Property Appraiser credential satisfy the educational requirements for the Certified Residential Real Property Appraiser credential.
IV. Experience
One thousand five hundred (1,500) hours of experience are required to be obtained during no fewer than twelve (12) months. While the hours may be cumulative, the required number of months must accrue before an individual can be certified.
Click here to view all Certified Residential Appraiser forms.