(**) 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.
There are nearly 3 million people reside in Mississippi. The population has modest growth since 2000 and has a widely spread population density. Jackson is the only one city which resides more than 100,000 people, followed by two Hattiesburg and Gulfport, which have a population over 50,000.
As a real estate appraiser in Mississippi, your job is to provide an assessment of the properties’ market value for your clients. Your appraisal report could be used by a home buyer or seller, a mortgage lender who wants to understand the value of the collateralize assets, an individual who needs it for tax assessment or even lease negotiation.
Regardless of who is in needs of your appraisal services, your work products must remain objective, unbiased and professional.
To become a real estate appraiser in Mississippi, you would start off in working as a Intern, then work your way up toward other designations. There are four types of licenses in Mississippi, they are:
- Appraiser Intern
- Licensed Residential Appraiser
- Certified Residential Appraiser
- Certified General Appraiser
You must fulfill the qualifying appraisal education, work experience requirement and register with the Mississippi Appraisal Board. This is the regulatory body which governs the appraisal industry and issue licensing for appraisers.
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 an Appraiser Intern in Mississippi?
To begin your career in the appraisal field, your first step is to become an Appraiser Intern.
At this early stage, you will be trained and supervised by a certified appraiser. An experienced supervisor could guide you into the right direction in this career.
The supervising appraiser should provide you with hands-on appraisal techniques, effective ways to research on a property, and how to analyze the data. Most importantly, how to determine an unbiased estimation of the property’s market value.
Your daily routine could include doing property research, working on appraisal reports, or inspecting real estate together with the supervisor.
To get out the most from this training phase, it is recommended you to walk through each and every step in the appraisal process, observe carefully on how your supervisor inspect and evaluate real estate, and always raise your questions.
4 Steps to Become an Appraiser Intern in Mississippi
Step 1: Meet the Basic Requirement:
- You must be at least 18 years old
- Have a valid Social Security Number
- No prior related experience is needed
- No college-level education is required
Step 2: Complete the Pre-License Education
You need to complete the 75 hours of qualifying appraisal-related education and the Trainee/Supervisor course.
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: Submit Application to the the Mississippi Appraisal Board
Now you have completed the education prerequisites, your next step is to get registered.
Step 4: Find a Certified Appraiser to be Your Supervisor
So how do you find a supervisory appraiser? You could start connecting with Certified Appraisers through industry associations in your city, forums or even on LinkedIn. The more appraisers you connect to, the bigger the chance you could find a supervisor. Here are the Top 10 Tips to Find a Supervisory Appraiser.
Once you start working alongside with a supervisor, you and your supervisor would need to inform the Appraisal Board about the mentoring relationship. Here’s the form to do so.
You also need to keep track of your working hours with the board-approved experience log. This document is important for the purpose of upgrading your appraiser license in the future.
Keep in mind that you and the supervising appraiser are required to sign on every page of the experience log.
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 Licensed Residential Appraiser in Mississippi?
As a Licensed Residential Appraiser, you can evaluate non-complex residential properties with 1-4 units, while the transaction value is cannot be more than $1,000,000. Although you can also evaluate complex properties, the maximum value is up to $250,000.
When working as a fee-based appraiser, you could be writing appraisal reports for clients such as individuals, lenders, banks, or appraisal management companies (AMC). Your job duties could include doing research online, going on the field to inspect properties, and writing the appraisal reports.
On the other hand, you could also be hired by an appraiser company or financial institution as their in-house appraiser, where you could enjoy the stable income and employee’s benefits.
This license could be worth considering for those who have not fulfilled the necessary work experience or college-level education to become a certified appraiser but wish to excel their career from the Appraiser Trainee.
Note that unlike most other states, you do need to become a Licensed Residential Appraiser first before you could upgrade your license in being Certified.
5 Steps to Become a Licensed Residential Appraiser in Mississippi
Step 1: Meet the Basic Requirement:
- You must be at least 18 years old
- Have a valid Social Security Number
- Hold an Associate Degree or higher. Or complete 30 semester credit hours which cover specific subjects recognized by the Appraisal Board.
Step 2: Complete the Required Hours of Working Experience
You must have at least 2000 hours of acceptable appraisal experience, where they need to be acquired for over a 12 months period.
Step 3: Fulfill the Education Requirement
You’ll need to complete 150 hours of qualifying appraisal education from an approved course provider.
You should have taken some of the courses when becoming an Intern, so that you just need to make up for the additional courses required.
Step 4: Submit Application to the Mississippi Appraisal Board
Once you have fulfilled the education and working experience requirement, you should submit the application to the the Appraisal Board along with other necessary documents.
Step 5: Pass the Licensed Residential Appraiser Exam
Now it’s the time to write the exam!
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 Residential Appraiser in Mississippi?
As a Certified Residential Appraiser, you can assess for:
- residential properties with 1 to 4 residential 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
Just like a Licensed Residential Appraiser, you could a self-employed appraiser running your own practice, servicing clients such as individuals, lenders, banks, or appraisal management companies (AMC).
Alternatively, you could work for an appraiser firm or financial institution to become their in-house appraiser, where you could enjoy the stable income and company’s benefits.
However, there is no restriction on the transaction value of residential properties you could assess. The scope of your practice and business opportunity would be a lot wider than being a Licensed Residential Appraiser. In fact, many reputable lenders and financial institutions in only accept assessment work from Certified Appraiser.
That being said, let’s review the steps for you to become a Certified Residential Appraiser.
5 Steps to Become a Certified Residential Appraiser in Mississippi
Step 1: Meet the Basic 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 at least of 2500 hours of acceptable appraisal experience in not less than a 24 months period. Of which a minimum of 1,250 of the required hours must be in the residential category. Also, you cannot have more than 1,600 hours being credited during a 12 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 taken some of the courses when becoming an Intern or Licensed Residential Appraiser, you are only required to complete the extra classes.
Step 4: Submit Application to the Mississippi Appraisal Board
Once you have fulfilled the education and working experience requirement, it’s time to submit the license application. More details will be discussed later in this post.
Step 5: Pass the Certified Residential Appraiser Exam
Here’s a Snippet of What Jamie Owen Thinks About Being a Real Estate Appraiser!
“The more you learn, the more you will enjoy being an appraiser.”
“I think that humility and honesty are the most important attributes. Humility is important because if we think we know it all, we are going to be in trouble. Being appraiser requires not being thin-skinned and defensive. Others have their opinions and we have ours. Both may be supportable in one way or another.
Being humble helps us to respect the views of others and not be offended if others have a different view. Humility also helps with business relationships, as well as accepting guidance and reminders when we need them, from peers and others.”
– Jamie Owen, Certified Residential Real Estate Appraiser at Aspen Appraisal Services
Here’s an exclusive interview with Jamie. He shared with us his journey and valuable experience in the appraisal industry. You’ll also learn what it is like to be a real estate appraiser nowadays.
How to Become a Certified General Appraiser in Mississippi?
So you want to explore appraising for commercial real estate? Then becoming a Certified General Appraiser would be the way to go!
This designation is the highest credential you could get in the appraisal industry. You could assess all types of real estate regardless of the transaction value or complexity. There is no limitation on the scope of your appraisal work.
Although you still could evaluate for residential properties, you could also be appraise a portfolio of commercial real estates for institutional investors.
Since your clients depend on your appraisal reports in making an informed investment decision, you must be extremely careful and responsible when handling your work. Extensive research and site inspections are often required. It is your responsibility to provide your clients with an objective appraised value as accurate as possible.
Due to the requirement of low margin of error in your work products, the amount of work experience and education required to become a Certified General Appraiser is the most challenging among all the levels of licensing.
So let’s go through the steps to help you obtain this designation.
5 Steps to Become a Certified General Appraiser in Mississippi
Step 1: Meet the Basic Requirement:
- You must be at least 18 years old
- Have a valid Social Security Number
- Bachelor’s Degree in any field of study; or higher
Step 2: Complete the Required Hours of Working Experience
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 needs to be from non-residential appraisal work.
In addition, no more than 1,900 hours may be counted during any 12 months period.
Step 3: Fulfill the Education Requirement
You’ll need to complete 300 hours of qualifying appraisal education from an approved course provider.
You should have completed some of the courses when the previous license(s). Therefore, you are only required to complete the extra classes.
Step 4: Submit Application to the Mississippi Appraisal Board
Once you have completed all the education and working experience prerequisites, you should fill out the license application.
Step 5: Pass the Certified General Appraiser Exam
The last step is to pass the Certified General Appraiser Exam. You’ll find more details about later in this post.
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!
Courses Requirement for Mississippi Real Estate Appraiser
| Appraiser Intern (Credit Hours) | Licensed Residential Appraiser (Credit Hours) | Certified Residential Appraiser (Credit Hours) | Certified General Appraiser (Credit Hours) |
|
|---|---|---|---|---|
| National USPAP Course or Equivalent | 15 | 15 | 15 | 15 |
| Basic Appraisal Principles | 30 | 30 | 30 | 30 |
| Basic Appraisal Procedures | 30 | 30 | 30 | 30 |
| Residential Market Analysis and Highest & Best Use | 15 | 15 | ||
| Residential Appraisal Site Valuation and Cost Approach | 15 | 15 | ||
| Residential Sales Comparison and Income Approaches | 30 | 30 | ||
| Residential Report Writing and Case Studies | 15 | 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 | 150 hours | 200 hours | 300 hours |
Register at the the Mississippi Appraisal Board
Once you have fulfilled all the prerequisites, you could submit the application to the Appraisal Board. In additional to the application, you must provide the following:
- Registration fee ($50 for Intern, $225 for Licensed/Certified)
- Supporting legal documents
- 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)
If you have any questions, you could contact the the Mississippi Appraisal Board.
What is the format of the Mississippi Real Estate Appraiser Exams?
Once the State Board accepts your application, they will send you a notice with instruction to schedule the exam. PSI will administer the exam, where you can take it on a computer at their examination center.
- Licensed Residential Appraiser Exam is a 4 hours exam,
- Certified Residential Appraiser Exam is a 4 hours exam;
- Certified General Appraiser Exam is a 6 hours exam
The licensed and certified 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.
The exam fee is $125. You could find out more details in Mississippi Real Estate Appraisers Candidate Information Bulletin.
To increase your chance in passing the exam on the first time, make sure to check out our exam hacks. In there, not only you will find the content of the exam, but also 10 effective tips on how to prepare for it.
Mississippi Appraiser License Renewal and Continuing Education Requirements
All real estate appraisers in Mississippi are required to renew their license every two year. In addition to the application, below are the requirements to renew your appraiser license:
- Finish 28 hours continuing education every 2 years, of which must include 7 hours of National USPAP Update course.
- There is no restriction in the number of courses you can take online.
- Pay the $325 renewal fee
To prevent interruption to your appraisal practice and paying the late fee, you should renew it and complete all continuing education requirement before the license expiry date. But keep in mind, you cannot do so 120 days earlier than the expiry date.
FAQ on Mississippi Real Estate Appraiser Career
How long does it take to become a real estate appraiser in Mississippi?
It takes 12 to 30 months to become a real estate appraiser in Mississippi. 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 2,000 hours of work experience to become a Licensed Residential Appraiser in Mississippi, 2,500 hours to become a Certified Residential Appraiser and 3,000 hours to become a Certified General Appraiser.
How much do real estate appraisers make in Mississippi?
Your income as a real estate appraiser depends on many factors such as your skills, licensing level, the type of properties you specialize in appraising, the company size, its location, and most importantly, the amount of effort you are willing to put into this career.
According to the figures on the Bureau of Labor Statistics (May 2021), property appraisers in Mississippi make an average annual income of $46,840. The yearly income range typically ranges between $36,380 and $51,030. Top earning property appraisers in Mississippi make over $75,350.
Here’s a complete income guide on real estate appraisers in Mississippi. 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!
Career tips for Aspiring Appraisers in Mississippi
Tip#1: Take the Appraisal Courses Asap
You could read as much about the appraisal career as you want, but your journey would not begin unless you start taking action.
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.
To assist in the selection process, here’s a review of the appraisal courses provider that I like.
Tip#2: Network with Other Real Estate Professionals in Mississippi
Getting to know other appraisers in Mississippi could help you gain a better understanding about the appraisal industry. You could do so by joining industry associations, online forums or even social media groups. For instance,
- MS Coalition of Appraisers (MSCAPP)
- AppraisersForum.com – Mississippi Forum
- The Mississippi Chapter of the Appraisal Institute
Let them know that you are starting your career as an appraiser, ask them if they have any tips or advice for newbies to the industry.
Furthermore, you should network with other professionals in the real estate field. Mortgage agents, lenders, and realtors can all provide you with valuable insight, which could be very helpful to your career building in the long run.
Here’s a list of real estate professional groups on our resource page. Remember to check it out!
Tip#3: Consider the Commercial Real Estate Route
Just like many other states, the business to appraise for residential properties could be quite competitive. Well, as you could imagine, there is a considerable overlap of targeted customers for the first three levels of licensing.
To differentiate your skills and broaden your scope of practice, you could consider pursuing the Commercial General Appraiser designation as your long-term goal.
Here’s an article you might be interested: “Is Commercial Real Estate Appraisal a Good Career?” In there, a CRE appraiser shared his view on what he thinks about this profession.
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 any notice, and not guaranteed to be error-free. For full and exact details, please contact the Mississippi Appraisal Board .
Reference:
- Mckissock Learning- Mississippi Appraisal License Requirements: https://www.mckissock.com/appraisal/licensing/Mississippi/requirements/
- Mckissock Learning- Learn Appraisal Educational Requirements for Mississippi: https://www.mckissock.com/appraisal/continuing-education/Mississippi/requirements/
- The Appraisal Foundation- National Uniform Licensing and Certification Examinations: http://www.appraisalfoundation.org/imis/TAF/Standards/Qualification_Criteria
- sokanu – How much does a Real Estate Appraiser make in Mississippi? https://www.sokanu.com/careers/real-estate-appraiser/salary/Mississippi
- salary.com- Salary for Appraiser (Commercial Real Estate) in Mississippi: https://www1.salary.com/MS/Appraiser-Commercial-Real-Estate-Salary.html
- salary.com- Salary for Appraiser (Residential Real Estate) in Mississippi: https://www1.salary.com/MS/Appraiser-Residential-Real-Estate-Salary.html
- Mississippi Appraisal Board – http://www.mrec.state.ms.us/mab/index_mab.html
