(**) 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 over 5.8 million resides in Wisconsin. Of which, the cities Milwaukee, Madison, Green Bay, and Kenosha have the most population.
As a real estate appraiser in Wisconsin, your job is to evaluate of the market value of properties for your clients. Your assessment could be useful to a home buyer or seller, a mortgage lender who wants to know the value of the collateralize assets, an individual who needs it for estate arrangement or divorce settlement.
However, no matter who is in needs of your appraisal services, your assessment must always be unbiased, objective, and professional.
To become a real estate appraiser in Wisconsin, you would start off accumulating your appraisal working hours, then work your way up toward other designations such as the Licensed Residential Appraiser, Certified Residential Appraiser, and the Certified General Appraiser.
You must fulfill the qualifying appraisal education, work experience requirement and register with the Wisconsin Real Estate Appraisers Board.
This is the State Board which regulates individuals and companies that appraise the value of real estate, and also appraisal management companies (AMCs), in accordance with federal guidelines.
How to Become a Licensed Residential Appraiser in Wisconsin?
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.
5 Steps to Become a Licensed Residential Appraiser in Wisconsin
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 covering specific subject topics.
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.
Here’s the standard form to keep track of your appraisal experience.
Step 3: Fulfill the Education Requirement
You’ll need to complete 150 hours of qualifying appraisal education from an approved course provider.
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 4: Submit Application to the Wisconsin Department of Safety and Professional Services
Once you have fulfilled the education and working experience requirement, you should submit the application to the Real Estate Appraiser Board along with other required documents.
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.
Step 5: Pass the Licensed Residential Appraiser Exam
Now it’s the time to focus on the exams. 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.
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 Wisconsin?
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).
(If you are planning to start an appraisal business, then you should check out this post. In there, you’ll find the essential steps and tools to run your own firm.)
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 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 Wisconsin
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
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 taken some of the courses when becoming a Licensed Residential Appraiser, you are only required to complete the extra classes.
I included some details which could be helpful to your studying on our education resources page. Be sure to check it out.
Step 4: Submit Application to the Wisconsin Department of Safety and Professional Services
Once you have fulfilled the education and working experience requirement, it’s time to submit the license application.
The Licensing Department in some states may require you to apply within a specific period after you complete the pre-licensing education. Therefore, don’t wait till it expires!
Step 5: Pass the Certified Residential Appraiser Exam
Most test centers would require you to bring at least two valid IDs to verify your identity. Don’t forget to bring them along. Else you won’t be able to write the 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 Wisconsin?
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.
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.
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.
But first you would need to become a Certified General Appraiser, so let’s go through the steps to get you this credential.
5 Steps to Become a Certified General Appraiser in Wisconsin
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 half of the working experience needs to be from non-residential appraisal work.
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 Wisconsin Department of Safety and Professional Services
Once you have completed all the education and working experience prerequisites, you should fill out the license application.
Most State Boards allow you to apply through their website. Some would even charge a lower registration fee by doing online. You should definitely check out this option.
Step 5: Pass the Certified General Appraiser Exam
The final step is to pass the Certified General Appraiser Exam. Don’t try to cramp up all the study materials all at once. 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.
Is being a real estate appraiser a good career? – Let’s hear from an industry professional
“Currently, I am a Principal Commercial Appraiser with the Hennepin County Assessor’s office. My primary responsibilities are to value real property for tax petition purposes and provide expert witness testimony.
Prior to joining the public service sector, I was an independent fee appraiser who owned a residential appraisal firm and was a partner in a commercial appraisal firm. I have been a real estate appraiser for 26 years.
The appraisal industry has amazing opportunities in both the public and private sectors. The appraisal industry is especially well suited for entrepreneurs who wish to operate their own businesses.
Brett Hall, MAI, SRA, Principal Commercial Appraiser at Hennepin County
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!
Table of Wisconsin Real Estate Appraiser Courses
| Licensed Residential 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 | 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 | 150 hours | 200 hours | 300 hours |
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.
How to Register at the Wisconsin Real Estate Appraisers Board?
Once you have fulfilled all the prerequisites, you could submit your application to the Wisconsin Department of Safety and Professional Services.
In additional to the application, you must provide the following:
- Registration fee (The amount is listed on the application)
- 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 Wisconsin Department of Safety and Professional Services at (608) 266- 2112 and dsps@wisconsin.gov.
Here is more info about the WI Appraiser Exam
There are two exams you’ll have to write. One is the National Uniform Licensing and Certification Examination and the other is the Wisconsin State Test.
Wisconsin State Exam
The purpose is to test out applicable state statutes and administrative code chapters specific to being a real estate appraiser. It can be taken online. But keep in mind that it cannot be taken on Mac computer at the moment.
The required passing score is 81.5%, but this result is only valid for 24 months.
National Uniform Licensing and Certification Examination
Once the Real Estate Appraisers Board accepts your application, they will send you a notice with instruction to schedule the exam. Pearson-Vue 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.
You could find out more details in the National Appraiser Examination Candidate Handbook.
(Must Read before you write: 10 practical tips on how to pass the real estate appraiser exam)
FAQ on the Wisconsin Real Estate Appraiser Career
How long does it take to become a real estate appraiser in Wisconsin?
It takes 12 to 30 months to become a real estate appraiser in Wisconsin. 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 Wisconsin, 2,500 hours to become a Certified Residential Appraiser and 3,000 hours to become a Certified General Appraiser.
How to renew a real estate appraiser license in Wisconsin? Any continuing education requirements?
All real estate appraisers in Wisconsin are required to renew their license every two year, which you could do so online through this link.
In addition to the renewal application, below are the requirements to renew your appraiser license:
- Finish 28 continuing education hours every 24 months, of which must include 7 hours of National USPAP Update course.
- There’s no restriction of how many credit hours you can take online.
- Pay the renewal fee (Here’s the fees structure)
To prevent interruption to your appraisal practice and the late fee, you should renew it and complete all continuing education requirement before the license expiry date.
How much do real estate appraisers make in Wisconsin?
According to the Bureau of Labor Statistics (May 2021), the average annual salary of real estate appraisers in Wisconsin is $63,760. It typically ranges between $49,410 and $94,760. Top earning property appraisers in Wisconsin more than $101,670 per year.
Your income as a real estate appraiser depends on many factors such as your experience, 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.
However, the earning gap among real estate appraisers in Wisconsin actually is not as large as some other states.
Here’s a complete income guide on real estate appraisers in Wisconsin. 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!
Helpful Tips for Appraisers in Wisconsin
Tip#1: Take the required 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 help you in selecting a good appraisal education provider, here’s a review of the one that I like.
Tip#2: Network with other real estate professionals in Wisconsin
Connecting with other appraisers in Wisconsin is an excellent way to gain a better understanding about the appraisal industry. You could do so by joining industry affiliations, online forums or even LinkedIn groups. For instance,
Here’s a list of real estate professional groups on our resource page. Remember to check it out!
Begin with a friendly conversation. 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.
In addition, 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 haul.
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 among residential appraisers.
To differentiate your skills and broaden your scope of practice, you could consider pursuing the Commercial General Appraiser designation as your long-term goal.
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 Wisconsin Real Estate Appraisers Board .
Reference:
- Mckissock Learning- Wisconsin Appraisal License Requirements: https://www.mckissock.com/appraisal/licensing/Wisconsin/requirements/
- Mckissock Learning- Learn Appraisal Educational Requirements for Wisconsin: https://www.mckissock.com/appraisal/continuing-education/Wisconsin/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 Wisconsin? https://www.sokanu.com/careers/real-estate-appraiser/salary/Wisconsin
- salary.com- Salary for Appraiser (Commercial Real Estate) in Wisconsin: https://www1.salary.com/WI/Appraiser-Commercial-Real-Estate-Salary.html
- salary.com- Salary for Appraiser (Residential Real Estate) in Wisconsin: https://www1.salary.com/WI/Appraiser-Residential-Real-Estate-Salary.html
- Wisconsin Real Estate Appraisers Board – https://dsps.wi.gov/Pages/RulesStatutes/RealEstateAppraisers.aspx
