(**) Disclosure: This post may contain affiliate links, meaning RealEstateCareerHQ.com will get a commission if you decide to make a purchase through the links, but at no additional cost to you.
Are you thinking to become a real estate appraiser in Alaska? If so, you’ve come to the right place!
To become a real estate appraiser in Alaska, an applicant must complete a 75-hour appraisal education approved by the Alaska Board of Certified Real Estate Appraisers and the Uniform Standards of Professional Appraisal Practice (USPAP), an AQB approved Supervisory/Trainee course. Accumulate work hours under the supervision of a Certified Appraiser and pass the required appraisal examination.
There are 3 levels of appraiser licenses in Alaska:
- Trainee Appraiser
- Certified Residential Appraiser
- Certified General Appraiser
As a real estate appraiser, your job is to provide an objective opinion of the properties’ market value for your clients. Your appraisal report could be used for home purchasing/selling, refinancing, mortgage lending, tax assessment, divorce settlement, estate sales, investments analysis, etc. But no matter who is in needs of your appraisal services, your assessment must remain objective, unbiased and professional.
If you’re wondering what a real estate appraiser does and if it might be a good career for you, keep reading. I’ll explain all the steps to obtain a real estate appraiser license. Plus everything you need to know about this profession (i.e. pre-licensing course, exam format, income updates). So whether you’re just starting out in your career or you’re looking for a new challenge, read on!
But before we start, I want to give a brief disclaimer. This post is not intended as legal advice or state/federal real estate appraisal training. It is for general information only. Always follow your State Laws and best practices.
The first step to your appraisal career is to complete the pre-licensing courses from a trusted education provider. McKissock received an incredible rating from its students, and their online lessons are taught by instructors who have actual experience in the appraisal industry. You may click here to find out more about their courses. (**)
How to Become a Trainee Appraiser in Alaska?
Your first step beyond the textbook world is to become a Trainee Appraiser.
You will receive training and work under the supervision of a certified appraiser. Your mentor could assign you with tasks such as researching a property and its neighborhood, working on reports, or going on site to inspect the real estate. Depending on the compliance rules in your state, some of the jobs can be done independently, while some must be accompanied by your trainer.
An experienced supervisor could prepare you in becoming a qualified appraiser. He/she should equip you with the following knowledge:
- Practical ways to conduct research on properties (i.e.: proximity, zoning, obsolescence)
- Proper method to analyze the data
- Compliance rules and standard
- Industry accepted approaches in determining an unbiased estimation of the property’s market value.
To learn as much as possible from your mentor, you should walk through each and every step in the appraisal process, and review carefully on how your trainer inspect and assess real estate.
Here’s a list of things you should look for when choosing a supervisory appraiser.
Step 1: Fulfill the eligibility requirement
- At least 18 years old
- Have a valid Social Security Number
- No prior related experience is needed
Step 2: Complete the appraisal education
You must complete the 75 hours of appraisal courses and the AQB Supervisor/Trainee course. Note that the courses must be administered by an education provider that the Board approves.
Study tip: Whenever possible, I prefer to take online courses. You can study at your own pace at the convenient of your home, library, or wherever there is internet access. Here’s an article review of an online school that I like.
Step 3: Search for a supervising appraiser
Your next step is to find a supervising appraiser. Some trainees might find it challenging in locating one. To assist you through this process, here are the 10 tips in finding a supervisory appraiser.
Once you and the supervising appraiser decide to work together, you both need to inform the Board about the mentoring relationship. That could be indicated on the application.
You must also document your working hours with the approved experience log. These logs are essential when you upgrade your appraiser license in the future. In order for them to be valid, make sure you and the supervising appraiser sign on every page of them.
Step 4: Register with the Alaska Real Estate Appraisers Program
Now you have completed the education requirement, your next step is to begin the registration process by submitting an application and the associated fees.
If the Appraisal Board in your state has the online submission available, then I would strongly encourage you to use that option. Not only this is the quickest and most convenient way, but less paper mailing is also good for the environment.
You will find more details about the registration later in the post.
Here’s what I asked a Real Estate Appraiser Trainee about working with a supervisor
Jacob: “Is there anything you have learned in the field or from your supervisor that was not covered in the class?”
Katie: “Yes, I have learned so much through both my supervisor and working in the field. Through this, it has taught me how to properly measure a home, how to notice differences in materials used throughout the home, how to properly deal with clients (answering such questions that may come about or just overall explaining the process of how the appraisal works.)”
I conducted a full interview with Katie Holland, where she shared her journey and thought about the real estate appraisal industry. Be sure to check it out!
How to Become a Certified Residential Appraiser in Alaska?
Unlike most other states, the Board does not offer the Licensed Residential Appraiser license in Alaska.
As a Certified Residential Appraiser, you have the options to work for a company or government agency as their salaried appraiser or become a self-employed business owner.
If you decide to run an independent practice, then you will have more flexibility in your work schedule and the ways to conduct the business. You could be fulfilling appraisal orders from mortgage lenders, banks, credit unions, or appraisal management companies (AMC).
Just like other businesses, there are many expenses you need to take care of – for instance, payroll, marketing, liability insurance, tuition for continuing education, license fee, and many others. I have another article which covers how to start an appraisal business. Hope you’ll find it helpful too.
On the other hand, if you crave for more stability in your career, you could consider working as an in-house appraiser for an appraisal firm or financial institution. You may be provided with a stable salary and employee’s benefits.
With the Certified Residential Appraiser license, you can evaluate:
- residential properties with 1 to 4 units regardless of the transaction value or complexity.
- non-residential 1-4 units property given that the transaction value is no more than $250,000
There is no restriction on the transaction value of residential properties you could assess. So let’s review the steps to get you Certified Residential Appraiser license.
Step 1: Meet the eligibility requirement:
- You must be at least 18 years old
- Have a valid Social Security Number
- Hold a Bachelor’s degree or higher
Step 2: Complete the appraisal work experience
You need to complete a minimum of 2500 hours of acceptable appraisal experience in not less than a 24 months period.
Step 3: Fulfill the education requirement
You’ll need to complete 200 hours of qualifying appraisal education from an approved course provider. Since you should have completed some of the courses when becoming a Trainee Appraiser, you just need to complete the additional courses. Here are some of the courses you may need to take:
- Residential Market Analysis and Highest and Best Use – 15 Hours
- Residential Appraiser Site Valuation and Cost Approach – 15 Hours
- Residential Sales Comparison and Income Approaches – 30 Hours
I will also include a chart with the required courses later in this post.
Step 4: Register with the Alaska Real Estate Appraisers Program
Once you have fulfilled the education and working experience requirement, you should submit the application to the Alaska Board of Certified Real Estate Appraisers together with other required documents.
You can find out more details on the registration later in this post.
Step 5: Pass the Certified Residential Appraiser Exam
Now it’s the time to write the exam. The purpose is to test your appraisal knowledge, especially the subjects that are covered in the pre-licensing courses.
Doing multiple sets of practice questions is an excellent way to prepare for the exam and also boost your confidence.
Don’t worry, more details about the exam will be covered in this guide.
Is real estate appraiser a good career? This is one of the common questions I hear a lot. Therefore, I spent months and months in connecting with different real estate appraisers. Here are their valuable insights about this profession. Make sure to check it out!
How to Become a Certified General Appraiser in Alaska?
If you want to expand your scope of work to more complex type of real estates, then becoming a Certified General Appraiser is definitely worth considering! In fact, out of the 223 appraisers in Alaska, around 45% are holding Certified General Appraiser license.
This is the most sophisticated license type you could obtain in the appraisal industry. You could provide assessment to all types of real estate regardless of the transaction value or complexity. (i.e.: commercial properties, golf courses, hotels, wind generating plants, marina, oil refiners, federal or land acquisition.)
Since the transaction values involve could be significant, you need to be extremely careful and responsible when handling your work. Extensive research and site inspections are often required.
The amount of work experience and studying required to become a Certified General Appraiser is the heaviest among all the levels of licensing. So let’s go over the steps to get you the Certified General Appraiser license.
Tip for Success: Rather than being just another appraiser, consider specializing in a specific niche. (i.e: expert witness, farm appraisal, re-location appraisal). Here’s an article which covers 7 profitable appraisal niches.
Step 1: Meet the eligibility requirement:
- You must be at least 18 years old
- Have a valid Social Security Number
- Bachelor’s Degree or higher
Step 2: Complete the required work hours
You must have at least 3000 hours of acceptable appraisal experience where they need to be obtained for over a 30 months period. At least 1500 hours of the working experience needs to be from non-residential appraisal work.
Step 3: Fulfill the appraisal education Requirement
You’ll need to complete 300 hours of qualifying appraisal education from an approved course provider.
Since you should have completed some of the courses from your previous license(s), you just need to make up for the extra courses. Some of them may include:
- General Market Analysis and Highest and Best Use – 30 Hours
- Statistics, Modeling and Finance – 15 Hours
- General Appraiser Sales Comparison Approach – 30 Hours
- General Appraiser Site Valuation and Cost Approach – 30 Hours
- General Appraiser Income Approach – 60 Hours
- General Appraiser Report Writing and Case Studies – 15 Hours
- Appraisal Subject Matter Electives – 30 Hours
Step 4: Register with the Alaska Real Estate Appraisers Program
Once you have fulfilled the education and working experience requirement, you should submit the application to the Alaska Board of Certified Real Estate Appraisers along with other required documents.
Later in this post, I’ll go over the documents and fees needed for the registration process.
Step 5: Pass the Certified General Appraiser Exam
You have fulfilled the education and appraisal work experience, it’s now time to focus on the exam. Cramming for the exam is ineffective. Instead, you should study for 45 to 60 minutes, then take a break. Concentration tends to wander if you study for too long. If possible, focus on studying only one to two topics per day. But be really good at it.
Actual Feedback from a Commercial Real Estate Appraiser
“Be willing to work extremely hard in the beginning as it will work out well in the long term.”
“I appraise a variety of commercial properties. Although, I do more investment types than any thing else (office, shopping center, multi-family), I do a little bit of everything, excluding marinas, hotels/golf courses, single-family residential.
I started working for a commercial appraiser in college. I have never done any residential work.
There are several challenges in the field, but overall, it has been wonderful for me. I really enjoy the flexibility the career offers… Every day is a new property and a new challenge and that helps break up the monotony.
Jeffrey Harris, MAI. Commercial Real Estate Appraiser and Consultant at Harris Property Advisors
Want to know whether being a commercial real estate appraiser is a good career? Check out this complete career guide. In there, you’ll find the type of work involved as a CRE appraiser, the income potential, and the training you need to become one. You’ll find the full sharing from Jeffrey Harris as well!
Video Summary to Obtain a Real Estate Appraiser License in Alaska (coming soon)
Here are the required courses for each real estate appraiser license in Alaska
| Trainee Appraiser (Credit Hours) | Certified Residential Appraiser (Credit Hours) | Certified General Appraiser (Credit Hours) |
|
|---|---|---|---|
| National USPAP Course or Equivalent | 15 | 15 | 15 |
| Basic Appraisal Principles | 30 | 30 | 30 |
| Basic Appraisal Procedures | 30 | 30 | 30 |
| Residential Market Analysis and Highest & Best Use | 15 | ||
| Residential Appraisal Site Valuation and Cost Approach | 15 | ||
| Residential Sales Comparison and Income Approaches | 30 | ||
| Residential Report Writing and Case Studies | 15 | ||
| Statistics, Modeling and Finance | 15 | 15 | |
| Advanced Residential Applications and Case Studies | 15 | ||
| Appraisal Subject Matter Electives | 20 | 30 | |
| General Appraiser Market Analysis and Highest & Best Use | 30 | ||
| General Appraiser Site Valuation and Cost Approach | 30 | ||
| General Appraiser Sales Comparison Approach | 30 | ||
| General Appraiser Report Writing and Case Studies | 30 | ||
| General Appraiser Income Approach | 60 | ||
| Total | 75 hours | 200 hours | 300 hours |
Here’s how you register with the Alaska Board of Certified Real Estate Appraisers
Once you have fulfilled all the prerequisites, you could submit your application to the Alaska Real Estate Appraisers Program. Here are the applications for:
In additional to the application, you must provide the following:
- Registration fee ($300 for Trainee, $580 for Certified Appraisers)
- Evidence which shows you have completed the required hours of Board-approved appraisal courses. (i.e., Official transcripts, course completion certificates).
- Proof that you have fulfilled the specific requirement of post-secondary education for your license (i.e.: Diploma, official transcripts, certificates.)
- Stated Approved Appraiser Experience Log (Only if you are applying to become Licensed/Certified Appraiser)
- Supporting legal documents (i.e.: Criminal history record check authorization form)
If you have any questions, you could contact Alaska Real Estate Appraisers Program at:
- Address: State Office Building, 333 Willoughby Avenue, 9th Floor, PO Box 110806, Juneau, AK 99811-0806
- Phone: (907) 465-2550
- Fax: (907) 465-2974
- Email: license@alaska.gov
More details about the Alaska Real Estate Appraiser Exam
You will be writing the computerized exam at am approved testing center. Pearson Vue will be the exam administer.
- Certified Residential Appraiser Exam is a 4 hours exam;
- Certified General Appraiser Exam is a 6 hours exam
The exams consist of 125 questions. Only 110 questions will be scored, the other 15 are pretest questions. The required passing score is 75. You will immediately know your score once you finish writing the test.
To increase your odds in passing the exam on the first time, make sure to check out our 10 tips on how to pass the real estate appraiser exam.
FAQ on the Real Estate Appraiser Career in Alaska
How to renew the appraiser license in Alaska?
All real estate appraisers in Alaska need to renew their license biennially. Here are the renewal applications for:
In addition to the renewal application, you also need to:
- Complete 28 hours continuing education every 24 months which include
- 7 hours of USPAP Update course
- If you have been licensed for less than 2 years, then you need to complete 14 hours of continuing education, including the required 7-hour USPAP course.
- You must complete at least 50% of the required hours in a traditional classroom setting.
- Trainees do not need to take continuing education classes, but are required to submit a renewal
- Pay the renewal fee (The amounts are printed on the application form)
The renewal processing time could take 4 to 6 weeks. You should always renew the license and complete all continuing education requirement before the expiry date, else there could be late fee and unnecessary interruption to your appraisal practice.
How much do real estate appraisers make in Alaska?
Your earning ability as a real estate appraiser depends on many things. For instance, your experience, licensing level, the type of properties you specialize in appraising, the company size, its location.
According to the Bureau of Labor Statistics (May 2021), the average annual salary of real estate appraisers in Alaska is $76,940. It typically ranges between $62,300 and $97,460. Top earning property appraisers in Alaska more than $103,230 per year.
The average cost of a home appraisal is $315 – $420 in Alaska. However, the cost may vary depending on the complexity of the property, the time and skills it takes to complete the assignment. Commercial property appraisals could cost between $2,000 to $10,000.
Here’s a complete income guide on real estate appraisers in Alaska. In there, I will uncover the income updates, the percentage of appraisers that are making a good living, and whether being a commercial or residential appraisers has any effect on the income. So be sure to check it out!
How long does it take to become a real estate appraiser in Alaska?
It takes 24 to 30 months to become a real estate appraiser in Alaska. That is the minimum period to complete the work experience so the duration would hugely depend on which appraiser license you are pursuing, the time it takes you to complete the work experience, pre-licensing courses and pass the appraiser exam.
It takes 2,500 hours of work experience to become a Certified Residential Appraiser in Alaska and 2,500 hours to become a Certified Residential Appraiser, and 3,000 hours to become a Certified General Appraiser.
How much does it cost to become a real estate appraiser in Alaska?
It costs between $1,545 to $2,105 to become a real estate appraiser in Alaska, Here’s the breakdown:
- Pre-licensing education: $840 to $1,400
- Nonrefundable Application Fee: $150
- Initial Certification Fee: $350
- Federal Registry Fee: $ 80
- Exam fee: $125 (approximate)
In addition to the above, there will be other expenses such as continuing education courses, E&O insurance, and business supplies such as a laptop, cell phone, and measuring device.
Some companies may pay or reimburse you if you work as their employee. But if you are running your own practice, these are the cost you need to account for yourself.
Do you need a degree to be an appraiser in Alaska?
You need a Bachelor’s Degree to be a Certified Residential Appraiser or Certified General Appraiser in Alaska.
How many real estate appraisers are in Alaska?
There are approximately 739,000 people residing in Alaska. Not only it is one of the least populated states, but it is most sparsely populated in the US. You could consider delivering your appraisal services in cities with high population such as Anchorage, Fairbanks, and Juneau.
When we reviewed the figures (as of June 2022) displayed on the Appraisal Subcommittee website, there are a total of 223 appraisers in Alaska. The breakdown is as follow:
- # of Certified General Appraisers 101
- # of Certified Residential Appraisers 122
Career Tips for Aspiring Appraisers in Alaska
Tip#1: Complete the Appraisal Courses Asap
You could read as much as you want, but procrastination would not get your career started. Taking the real estate appraiser classes would be your first step. Not only you could gain valuable knowledge and practical skills, but you will also have a better understanding about what is like to be an appraiser.
Besides, most states would require you to complete all the trainee education before your working experience could count toward the licensing requirement.
I include some education providers on our resource page. Hope this would be helpful to you.
Tip#2: Build Your Network with Other Real Estate Professionals in Alaska
Connecting with other real estate appraisers in Alaska is a good way to know about the appraisal industry. You could do so by joining appraiser coalitions, online forums or even LinkedIn groups.
Start with a casual conversation by letting them know that you are starting a career as an appraiser. Ask them if they have any tips or advice for newbies to the industry. You’ll be surprised by the number of people who are willing to share their insights with you.
In addition, you should network with other professionals in the real estate field. Mortgage agents, lenders, and realtors can all provide you with valuable feedback, which could be very helpful to your career building in the long haul.
Here are more incredible resources to learn about the Alaska real estate appraisal career!
This article is part of the “Alaska Real Estate Appraiser Career Series.” If you want to know more about being a real estate appraiser in Alaska, the following articles would be helpful to you:
- How Much do Real Estate Appraisers Make in Alaska? (trainee| residential | commercial)
- Is Being a Real Estate Appraiser a Good Career? (Feedback from Industry Professionals)
- Helpful strategies to pass the real estate appraiser exam (With Sample Questions)
If you are reading up to this point, I bet you must be interested in the real estate appraiser profession. Your first step is to complete the pre-licensing courses. You should select one that has an excellent reputation and long-term track record of satisfying students. McKissock is exactly that! You may click here to check it out yourself. (**)
(**) Affiliate Disclosure: Please note that some of the links above are affiliate links, and at no additional cost to you. Our company, JCHQ Publishing will earn a commission if you decide to make a purchase after clicking on the link. Please understand that we include them based on our experience or the research on these companies or products, and we recommend them because they are helpful and useful, not because of the small commissions we make if you decide to buy something through the links. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.
Disclaimer: The information in this post is for general information only, and not intend to provide any advice. They are subjected to change without any notice, and not guaranteed to be error-free. For full and exact details, please contact The Alaska Board of Certified Real Estate Appraisers.
Reference:
- Alaska Board of Certified Real Estate Appraisers (source)
- The Appraisal Foundation- National Uniform Licensing and Certification Examinations (source)
- Appraisal Subcommittee- Active Appraiser Credentials Summary Report (source)
- Appraiser Examination Candidate Handbook (source)
- HomeAdvisor – How Much Does A Home Appraisal Cost? (source)
