Top 11 Residential Appraiser Certifications

Certifications are important for residential appraisers in the job market because they demonstrate a level of competency and proficiency to employers. They provide proof that the appraiser has attained a certain level of knowledge, skills and abilities necessary to perform appraisals in accordance with accepted standards. Additionally, certifications show potential clients that the appraiser is qualified to do the work, which can help them build trust and confidence in their services. Finally, certifications may be required for certain types of appraisal assignments, such as those involving federally regulated loans or mortgages.

This article reviews the most beneficial certifications for Residential Appraisers and how they can help advance their career.

What are Residential Appraiser Certifications?

Residential appraiser certification is a professional designation awarded by the Appraisal Institute (AI) and other real estate appraisal organizations. It indicates that the appraiser has achieved a certain level of education, training, and experience in the area of residential real estate valuation. Residential appraisers are certified to provide accurate and unbiased estimates of property values for lending institutions, mortgage companies, private buyers/sellers, attorneys, investors, and government agencies.

Having a residential appraiser certification can help ensure that potential buyers/sellers receive an accurate assessment of the market value of a property. This can be beneficial for both parties as it eliminates any uncertainty or guesswork when determining what price to ask or offer for a home. Additionally, having an experienced residential appraiser on hand can help protect lenders against overvaluation or undervaluation of a property when considering loan applications. Finally, having an appraiser with this certification can give clients peace of mind knowing they are receiving an objective opinion from someone who is knowledgeable and experienced in the field.

Pro Tip: Before pursuing residential appraiser certification, make sure to check your state's requirements for the certification process. Different states may have different prerequisites and continuing education requirements that you must meet in order to be eligible for certification.

Related: What does a Residential Appraiser do?

Top 11 Residential Appraiser Certifications

Here’s our list of the best certifications available to Residential Appraisers today.

1. Certified Residential Appraiser (CRA)

A Certified Residential Appraiser (CRA) is a professional appraiser who has met the requirements set by the Appraisal Qualifications Board (AQB) of the Appraisal Foundation. A CRA is qualified to appraise residential properties, including single-family homes and small income-producing properties.

To become a CRA, you must meet certain educational and experience requirements. The AQB requires that you have at least 150 hours of education in real estate appraisal topics such as appraisal principles, procedures, and report writing. You must also have at least 2,500 hours of experience in residential appraisals over a period of no less than 24 months. This experience must be documented and verified by an approved supervisor or mentor.

In addition to these requirements, you must pass the National Uniform Licensing and Certification Examination (NULCE) administered by the AQB. This exam covers topics such as basic appraisal principles, procedures, report writing standards, ethics and professional conduct.

The process of becoming a CRA typically takes between 6 months to 1 year depending on your experience level and how quickly you can complete all of the necessary requirements.

The cost for obtaining your CRA certification varies depending on your state’s licensing fees as well as any additional courses or materials required for completion of your education requirements. Generally speaking, most states charge an initial application fee along with annual renewal fees to maintain your license.

2. Certified General Appraiser (CGA)

A Certified General Appraiser (CGA) is a professional who has met the requirements set by the Appraisal Qualifications Board of The Appraisal Foundation to become certified as a general real estate appraiser. This certification requires an individual to have a minimum of a bachelor’s degree, 3 years of experience in appraisal work, and successful completion of a written examination.

It can take between 6 months and 2 years to become certified depending on the amount of experience that an individual has. To get certified, individuals must first complete 150 hours of qualifying education courses and then pass both the national and state portions of the Appraisal Qualification Exam. After passing the exam, applicants must submit an application for certification with their state board or agency.

The cost to become certified varies by state but generally includes fees for taking the exam, completing educational courses, and submitting an application for certification. In addition, some states may require additional fees such as licensing fees or background checks. The total cost can range from $500-$2,000 depending on the state where you are applying for certification.

3. Certified Real Estate Appraiser (CREA)

A Certified Real Estate Appraiser (CREA) is a professional designation given to real estate appraisers who have met the educational and experience requirements set forth by their respective state appraiser boards. The CREA designation is earned through successful completion of an approved appraisal education program, passing of the National Uniform Licensing and Certification Examination, and meeting the continuing education requirements for each state.

The amount of time it takes to become a CREA depends on the individual's background, education level, and the state in which they are seeking certification. Generally speaking, it can take anywhere from one to three years to complete all of the necessary steps for becoming a CREA.

To become a CREA, individuals must first complete an approved appraisal education program from an accredited institution or organization. Next, they must pass the National Uniform Licensing and Certification Examination administered by their respective state appraiser board. Finally, individuals must meet any additional continuing education requirements that may be required by their state.

The cost of becoming a CREA varies depending on the individual's specific situation. Costs may include tuition fees for appraisal courses, exam fees, application fees, and any other costs associated with obtaining certification in a particular state.

4. State Licensed or Certified Residential Real Estate Appraiser

State Licensed or Certified Residential Real Estate Appraiser is a professional who has been trained and certified to provide an opinion of value for residential real estate. The appraiser must be licensed or certified by the state in which they practice.

In order to become a State Licensed or Certified Residential Real Estate Appraiser, you must complete educational requirements, pass a written exam, and submit to background checks. Most states require that you have at least 150 credit hours of college-level coursework in appraisal-related topics, including economics, finance, law, and accounting. You must also complete a specific number of hours of supervised training from an approved instructor before taking the exam.

The length of time it takes to become a State Licensed or Certified Residential Real Estate Appraiser varies by state but typically requires several months to complete all the necessary steps.

To get your license or certification, you must first contact your state’s licensing board or department of real estate and review their requirements for becoming an appraiser. You will then need to register with the board and pay any applicable fees. After registering, you will need to take the required courses and exams as well as fulfill any other requirements set forth by your state’s licensing board or department of real estate.

The cost for becoming a State Licensed or Certified Residential Real Estate Appraiser varies by state but typically includes registration fees, course fees, exam fees, and background check fees.

5. American Society of Appraisers (ASA)

The American Society of Appraisers (ASA) is a professional organization that provides education, training and resources to appraisers who are interested in becoming certified. It was founded in 1936 and is the largest professional association of appraisers in the world. The ASA offers three different designations for appraisers: Accredited Senior Appraiser (ASA), Accredited Member (AM) and Certified General Appraiser (CGA).

It takes approximately two years to become an ASA. To get started, you must first complete a minimum of 75 hours of approved courses from an accredited school or program. You must also pass the ASA's four-hour qualifying exam. After passing the exam, you can then apply for membership with the ASA. Once accepted as a member, you will be required to complete additional coursework and exams before receiving your designation as an Accredited Senior Appraiser (ASA).

The cost to become an ASA varies depending on which courses you take and how many exams you need to pass. Generally speaking, it can cost anywhere from $1,000 - $3,000 to become an ASA. This includes course fees, application fees, exam fees and membership dues.

Once you have earned your designation as an Accredited Senior Appraiser (ASA), you will be able to practice professionally as an appraiser in any state or jurisdiction that recognizes the ASA designation. You will also be eligible for membership in other appraisal organizations such as The International Valuation Standards Council (IVSC) and The Royal Institution of Chartered Surveyors (RICS).

6. National Association of Independent Fee Appraisers (NAIFA)

The National Association of Independent Fee Appraisers (NAIFA) is a professional organization dedicated to promoting the highest standards of ethics, education, and professionalism in the field of real estate appraisal. NAIFA was founded in 1981 and is made up of independent fee appraisers who work independently from any lender or other third-party entity.

It takes approximately four to six months to obtain NAIFA certification. The process involves completing an application, submitting it with the required documentation, taking and passing the National Uniform Standards of Professional Appraisal Practice (USPAP) exam, and completing an approved education program. The cost for NAIFA certification varies depending on which state you are applying in but typically ranges between $200-$400.

7. The Appraisal Institute (AI)

The Appraisal Institute (AI) is a global professional association of real estate appraisers. It was founded in 1932 and is the world’s largest organization devoted to the valuation profession. AI members are dedicated to providing high-quality, ethical, and independent real estate appraisal services.

It takes approximately two years to complete the Appraisal Institute's education program and become an AI member. The program consists of three levels: Designated Member (DM), Candidate for Designation (CDE), and Associate (Assoc). Each level requires specific coursework, experience requirements, and examinations.

To become an AI member, you must first meet the eligibility requirements outlined by the Appraisal Institute. These include completing a minimum number of courses approved by the AI, passing all required examinations, obtaining a certain amount of experience in appraisal practice or research, and submitting a completed application form with supporting documents.

The cost of becoming an AI member depends on which level you are applying for. The fee for each level includes tuition for courses taken through the Appraisal Institute or other approved providers as well as examination fees. In addition, there may be additional costs associated with membership such as annual dues and continuing education requirements.

8. National Association of Realtors (NAR)

The National Association of Realtors (NAR) is a professional trade association for real estate agents and brokers in the United States. It was founded in 1908 and is the largest trade association in the United States, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

In order to become a member of NAR, you must first be licensed as a real estate agent or broker in your state. Once you have obtained your license, you can then apply to join NAR by completing an application form on their website. The application process typically takes 2-4 weeks to complete.

The cost to join NAR depends on your membership type and level. The most basic membership type is called REALTOR® Membership which costs $120 per year plus applicable local dues and fees. Other membership types include REALTOR-ASSOCIATE®, Commercial Member, Global Member, and Affiliate Member which each have different requirements and associated costs.

9. International Right of Way Association (IRWA)

The International Right of Way Association (IRWA) is a non-profit professional association that provides education, certification, and networking opportunities for right-of-way professionals. The IRWA was founded in 1934 and has since grown to become the largest international organization of its kind.

The IRWA offers a variety of certifications for right-of-way professionals, including the Professional Right of Way Certification (PROWC), which is the highest level of certification available. To obtain this certification, individuals must complete a series of courses and pass an exam. The courses typically take several months to complete and can be taken online or in person at one of the IRWA's training centers. The cost for the PROWC certification varies depending on the number of courses taken and other factors, but generally ranges from $500-$1000 USD.

In addition to providing certifications, the IRWA also offers educational resources such as webinars, conferences, seminars, and publications related to right-of-way issues. These resources are designed to help members stay up to date on changes in laws and regulations related to their profession.

The IRWA also provides networking opportunities for members through its various regional chapters located throughout North America and Europe. These chapters host regular meetings where members can meet with other professionals in their field to discuss current issues and share best practices.

Overall, the International Right of Way Association is an invaluable resource for those who work in the field of right-of-way management. It provides access to high quality education materials, certifications that demonstrate expertise in this field, and networking opportunities that allow members to stay connected with other professionals in their industry.

10. American Institute of Real Estate Appraisers (AIREA)

The American Institute of Real Estate Appraisers (AIREA) is a professional association for real estate appraisers in the United States. It was founded in 1932 and is headquartered in Chicago, Illinois. AIREA provides education, certification, and other services to its members.

To become an AIREA-certified appraiser, you must have a minimum of three years' experience as a licensed or certified real estate appraiser, pass the AIREA's written examination, and complete the AIREA's coursework requirements. The coursework includes topics such as appraisal principles and procedures, report writing, and ethics. The cost of the exam varies by state but typically ranges from $100 to $200.

Once you have passed the exam and completed all of the required coursework, you will be eligible to receive your AIREA certification. This process usually takes between six months and one year to complete.

In addition to providing certification for its members, AIREA also offers continuing education courses and seminars that are designed to help appraisers stay up-to-date on industry trends and best practices.

11. International Association of Assessing Officers (IAAO).

The International Association of Assessing Officers (IAAO) is a professional organization that provides education, research, and standards for property assessment professionals. The IAAO was founded in 1934 and is headquartered in Kansas City, Missouri. Its mission is to promote excellence in property assessment administration through education, research, and standards development.

To become an IAAO member, one must meet certain qualifications such as having at least five years of experience in the field of property assessment or being a certified assessor. It typically takes around two weeks to process an application for membership.

In order to become an IAAO member, applicants must submit an application form along with the required documents such as a resume and proof of experience or certification. The application fee is $180 USD for regular members and $90 USD for student members.

The benefits of becoming an IAAO member include access to educational resources such as webinars and seminars; discounts on conferences; networking opportunities with other professionals; access to publications; access to job postings; and access to the IAAO’s online library.

Do You Really Need a Residential Appraiser Certificate?

The need for a residential appraiser certificate depends on the type of appraisal you are doing and the state in which you live. In most states, real estate appraisers must be licensed or certified to perform residential property appraisals. The requirements vary from state to state, but generally include a combination of education and experience, an exam, and a background check.

A residential appraiser certificate is required if you plan to work as an independent appraiser or with an appraisal firm. A residential appraiser certificate verifies that you have met certain qualifications and can provide accurate estimates of property value. The certification also provides some assurance that you understand the principles of real estate appraisal and are capable of performing your job accurately and ethically.

If you want to pursue a career in real estate appraisal, obtaining a residential appraiser certificate is essential. It will help demonstrate your knowledge and skills to potential employers and clients, as well as give you credibility in the industry. Furthermore, having a certification can open up additional opportunities for advancement within the field.

In summary, whether or not you need a residential appraiser certificate depends on your specific circumstances, such as where you live and what type of appraisal work you do. Generally speaking, however, it is highly recommended since it will help demonstrate your capabilities and provide assurance to employers and clients that their interests are being protected by hiring someone with appropriate credentials.

Related: Residential Appraiser Resume Examples

FAQs About Residential Appraiser Certifications

1. How do I become a certified residential appraiser?

Answer: To become a certified residential appraiser, you must meet the requirements set by the Appraisal Qualification Board (AQB) of the Appraisal Foundation. These include having at least 2 years of experience in real estate appraisal and completing 150 hours of qualifying education courses. Additionally, you must pass the Uniform State Certified Residential Real Estate Appraiser Examination administered by your state's regulatory agency.

2. What is the difference between a certified and licensed residential appraiser?

Answer: A certified residential appraiser is one who has met the qualifications set by the Appraisal Qualification Board (AQB) of The Appraisal Foundation, including having at least 2 years of experience in real estate appraisal and completing 150 hours of qualifying education courses. A licensed residential appraiser is one who has been issued a license to practice real estate appraisal in their state by their state's regulatory agency.

3. Are there any continuing education requirements for certified residential appraisers?

Answer: Yes, all certified residential appraisers are required to complete 28 hours of continuing education every two years to maintain their certification status with The Appraisal Foundation's AQB.

4. What types of properties can I appraise as a certified residential appraiser?

Answer: As a certified residential appraiser, you are qualified to provide estimates on single-family residences and small income-producing properties such as duplexes or fourplexes that contain up to four dwelling units. You may also be qualified to provide estimates on certain manufactured homes, condominiums, cooperative apartments, vacant land and high-value properties depending on your state regulations and/or additional certifications you have obtained.

5. How long does it take to become a certified residential appraiser?

Answer: It typically takes 4-6 months from start to finish for an individual to become a certified residential appraiser depending on their prior experience and educational background in real estate appraisal.