Online Property Appraisal Training Programs
Analytic skills and the ability to communicate effectively aid professional appraisers as they assess the value of property. These skilled professionals assist museums, insurance companies and lenders in determining a fair value for fine and decorative arts, antiques, real estate and businesses.
Online Training for a Career as a Professional Appraiser
Online appraisal training uses a dedicated website for each class. Web access provides flexibility, allowing students to work at their own pace and from the location they prefer. Most classes have a date when students must complete their studies but many students complete assignments before that date. After successfully completing all assignments, students receive a certificate of completion and instructions on locating approved proctors in their area for the required final exam.
Personal Property Appraiser Training
Personal property appraisers assess the value of jewelry and gems, decorative and fine art, equipment, machinery and antiques. Although no formal government oversight exists for these items, the Appraiser Qualifications Board, a division of the Appraisal Foundation, has set minimum standards for professional appraisers. Qualified appraisers should have a minimum of 120 hours of instruction. This training should include valuation theory and the student's chosen field of specialization. Professional appraisers should also follow the Uniform Standards of Professional Appraisal Practice (USPAP).
Real Estate Appraiser Training
Real estate appraisers must follow federal guidelines when assessing the value of residential and business properties. Because of these laws, many of the online appraisal courses are intended for real estate appraisers. Most states have four levels of real estate appraisers, based on the amount of training and experience. These levels are appraisal trainees, licensed residential appraisers, certified residential appraisers and certified general appraisers.
Appraisal trainee classes typically provide 75 hours of instruction. The training is usually divided into 30 hours for basic appraisal principles and another 30 hours in appraisal procedures. The remaining 15 hours covers the National Uniform Standards of Professional Appraisal Practice. Students learn the terms involved in real estate and acquire an understanding of the features and amenities that affect a property's value. They also learn about collecting data, analyzing it and communicating their assessments effectively to clients.
Licensed Residential Real Property Appraiser
In most states, licensed residential appraisers may not appraise property worth more than $1,000,000. They are also restricted to assessing small apartment complexes with fewer than four units. Classes for residential appraisers build on the skills learned in the trainee program, with instruction in residential market analysis, sales comparison, report writing and site valuation.
Certified Residential Real Property Appraiser
Certified appraisers may appraise residential properties of any value. They can also appraise apartment and condominium complexes but may not appraise subdivisions. Students who have already completed their trainee and licensed appraiser programs take classes in real estate finance and advanced residential report writing.
Certified General Real Property Appraiser
Certified general appraisers may appraise all types of real estate, from residential homes to subdivisions to business property. A typical program includes instruction in site valuation, report writing, appraisal principles and procedures, real estate finance and the national appraisal standards.
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