(**) 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 Arkansas? If so, you have come to the right place.
As a real estate appraiser in Arkansas, 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 Arkansas, an applicant must complete the 75-hour appraisal education, including the Uniform Standards of Professional Appraisal Practice (USPAP), and an AQB approved Supervisory/Trainee course. Accumulate work hours under the supervision of a Certified Appraiser, pass the appraiser license examination, and register with the Arkansas Appraiser Licensing & Certification Board.
This is the regulatory agency which governs individuals and companies that appraise the value of real estate, and also appraisal management companies (AMCs), in accordance with federal guidelines.
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.
How to Become a Registered Apprentice Appraiser in Arkansas?
To become a Registered Apprentice or State Registered Appraiser in Arkansas, an applicant must complete the 75-hour appraisal education, the Uniform Standards of Professional Appraisal Practice (USPAP), and an AQB approved Supervisory/Trainee course. Accumulate work hours under the supervision of a Certified Appraiser, and register with the Arkansas Appraiser Licensing & Certification Board.
Becoming a State Registered Appraiser is the first step in your appraisal career. At this 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 supervisory 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 trainee stage, 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.
Here are more details on becoming a State Registered Appraiser in Arkansas.
Step 1: Meet the Basic Requirement
- You must be at least 18 years old
- Have a valid Social Security Number
- No college-level education is required
- No prior related experience is needed
Step 2: Complete the Pre-License Education
You need to complete the 75-hour of qualifying appraisal-related education and the Trainee/Supervisor course. The curriculum will cover topics such as:
- Basic Appraisal Principles,
- Basic Appraisal Procedures,
- National USPAP.
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 Arkansas Appraiser Licensing & Certification Board
Now you have taken the required qualifying course works, your next step is to get registered. I’ll include more details about the registration process later in this guide.
Step 4: Find a Certified Appraiser to be Your Supervisor
So how do you find a supervisory appraiser? You could start networking 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.
Once you start working alongside with a supervisor, you and your supervisor would need to inform the State Board about the mentoring relationship.
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 State Licensed Appraiser in Arkansas?
To become a State Licensed Appraiser in Arkansas, an applicant must complete the 150-hour appraisal education, obtain 2,000 work hours, pass the Licensed Residential Appraiser Exam, and register with the Arkansas Appraiser Licensing & Certification Board. Candidate must also hold an Associate Degree or complete 30 semester hours.
As a State Licensed Appraiser, (also known as 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.
Being a self-employed professional could give you more flexibility in scheduling your work hours and ways to conduct the business. However, just like any other business, there are expenses and setup you’ll need to take care. Here’s a post on how to start an appraisal business.
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 Trainee Appraiser.
Here are more details on becoming a State Licensed Appraiser in Arkansas
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 24 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 a State Registered Appraiser, so that you are only required to fulfill the additional course works. The 75-hour LR appraisal education curriculum will include the following:
- Residential Market Analysis & Highest and Best Use -15 hours
- Residential Appraiser Site Valuation & Cost Approach- 15 hours
- Residential Sales Comparison & Income Approaches 30 hours
- Residential Report Writing & Case Studies- 15 hours
Step 4: Submit Application to the Arkansas Appraiser Licensing & Certification Board
Once you have fulfilled the education and working experience requirement, you should submit the application to the the Appraiser Board along with other required documents.
Step 5: Pass the Licensed Residential Appraiser Exam
Your next step to write the exam! This is to test your knowledge of what you learned in the pre-licensing courses.
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.
How to Become a Certified Residential Appraiser in Arkansas?
To become a Certified Residential Appraiser in Arkansas, an applicant must complete the 200-hour appraisal education, obtain 2,500 work hours, pass the Certified Residential Appraiser Exam, and register with the Arkansas Appraiser Licensing & Certification Board. Candidate must also hold a Bachelor’s Degree.
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 hold a high standard and only accept assessment work from Certified Appraisers.
That being said, let’s review the steps to obtain a Certified Residential Appraiser license.
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 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 Registered Appraiser or Licensed Residential Appraiser, you are only required to complete the extra classes.
The 200-hour CR appraisal education curriculum may include (but not limited to) some of the following topics:
- Residential Market Analysis & Highest and Best Use – 15 hours
- Residential Appraiser Site Valuation and Cost Approach – 15 hours
- Residential Sales Comparison and Income Approaches – 30 hours
- Residential Report Writing & Case Studies – 15 hours
- Statistics, Modeling and Finance – 15 hours
- Advanced Residential Applications and Case Studies – 15 hours
- Appraisal Subject Matter Electives – 20 hours
Step 4: Submit Application to the Arkansas Appraiser Licensing & Certification Board
Once you have fulfilled the education and working experience requirement, it’s time to submit 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.
Since the Board needs to protect the public interest by ensuring that an applicant is a trustworthy person, you will go through a criminal background check.
Step 5: Pass the Certified Residential Appraiser Exam
The required passing score is 75 out of 110. Doing multiple sets of practice questions is an excellent way to prepare for the exam and also boost your confidence.
I included some details which could be helpful to your studying on our education resources page. Be sure to check it out.
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 Arkansas?
So you want to explore appraising commercial real estate or other complex properties? Then becoming a Certified General Appraiser would be the way to go!
To become a Certified General Appraiser in Arkansas, an applicant must complete the 300-hour appraisal education, obtain 3,000 work hours, pass the Certified General Appraiser Exam, and register with the Arkansas Appraiser Licensing & Certification Board. Candidate must also hold a Bachelor’s Degree.
This license is the highest level 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.
But first you would need to become a Certified General Appraiser, so let’s go through the steps to get you this credential.
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 1,500 hours 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. The 300-hour CR appraisal education curriculum may include (but not limited to) some of the following topics.
| General Appraiser 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 & Cost Approach | 30 hours |
| General Appraiser Income Approach | 60 hours |
| General Appraiser Report Writing & Case Studies | 30 hours |
| Appraiser Subject Matter Electives (must be tested) | 30 hours |
Step 4: Submit Application to the Arkansas Appraiser Licensing & Certification 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
Now it’s the time to write the Certified General Appraiser Exam. There is an exam fee of $100.
You’ll find more details about it later in this post. (i.e, required passing score, amount of time given to write, number of questions.)
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!
Here are the required courses for each real estate appraiser license in Arkansas
| Registered Appraiser (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 |
Looking for a trusted online appraisal education provider? Check out this review and find out why I like this appraisal courses provider.
Here’s how you register with the Arkansas Appraiser Licensing & Certification Board
Once you have fulfilled all the prerequisites, you could submit your application to the State Board. Here are the online applications for:
In additional to the application, you must provide the following:
- Registration fee (The actual amount can be found 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 college-level education requirement for your specific 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 Arkansas Appraiser Licensing & Certification Board at:
- Telephone: (501) 296-1843
- Address: 101 East Capitol, Suite 430, Little Rock, AR 72201
More info on the Arkansas Real Estate Appraiser Exam
Once the State 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.
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.
FAQ on the Real Estate Appraiser Career in Arkansas
How much does it cost to become a real estate appraiser in Arkansas?
It costs between $840 to $1,400 to become a real estate appraiser in Arkansas, Here’s the breakdown:
- Pre-licensing education: $
- Application fee:
- $200 for Apprentice Appraiser
- $125 for State Licensed & Certified Appraisers
- Exam fee: $100
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.
How long does it take to become a real estate appraiser in Arkansas?
It takes 24 to 30 months to become a real estate appraiser in Arkansas. 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 Arkansas and 2,500 hours to become a Certified Residential Appraiser, and 3,000 hours to become a Certified General Appraiser.
Do you need a degree to be an appraiser in Arkansas?
You need a Bachelor’s Degree to be a Certified Residential Appraiser or Certified General Appraiser in Arkansas. As for becoming a Licensed Residential Appraiser, you must hold an Associate Degree or complete 30 semester credit hours covering specific subject topics.
How much do a real estate appraisers make in Arkansas?
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.
According to the Bureau of Labor Statistics (May 2021), property appraisers and assessors in Arkansas make an average yearly income of $36,750. The income range typically ranges between $30,310 and $47,980. Top earning Arkansas appraisers make over $59,930.
Here’s a complete income guide on real estate appraisers in Arkansas. 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 to renew the Arkansas appraiser license?
All real estate appraisers in Arkansas are required to renew their license every two year.
In addition to the renewal application, below are the requirements to renew your appraiser license:
- Finish 28 hours continuing education every 24 months, of which must include 7 hours of National USPAP Update course in every 2 years.
- Note the State Board requires the USPAP to be taken in a traditional classroom setting. This course must be taught by an approved proctor.
- Pay the $125 renewal fee
To prevent interruption to your appraisal practice, you should renew it and complete all continuing education requirement before the license expiry date.
Is there a demand for real estate appraisers in Arkansas?
There are over 3 million people living in Arkansas. North Little is the largest city by population, then followed by Conway, Bentonville, Pine Bluff.
When we reviewed the figures (as of June 2022) displayed on the Appraisal Subcommittee website, there are a total of 874 appraisers in Arkansas. The breakdown is as follow:
- # of Certified General Appraisers 429
- # of Certified Residential Appraisers 392
- # of Licensed Residential Appraisers 53
Whenever someone needs to get a valuation of a property (i.e., buying/selling, applying for a mortgage or refinance, divorce/estate settlement.), there would be demand for real estate appraisers in Arkansas.
Career Tips for Aspiring Appraisers in Arkansas
Tip#1: Start taking the pre-licensing 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.
I included some details which could be helpful to your studying on our education resources page. Be sure to check it out.
Tip#2: Build your network with other real estate professionals in Arkansas
Connecting with other appraisers in Arkansas is a good 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, the Arkansas Chapter of the Appraisal Institute.
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 niche
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 services, sharpening your appraisal skills on commercial properties could be a long-term goal. If you want to know more about the career of being a CRE appraiser, here’s post you might find it helpful.
Here are more incredible resources to learn about the Arkansas real estate appraisal career!
This article is part of the “Arkansas Real Estate Appraiser Career Series.” If you want to know more about being a real estate appraiser in Arkansas, the following articles would be helpful to you:
- How Much do Real Estate Appraisers Make in Arkansas? (trainee| residential| commercial)
- Is Being a Real Estate Appraiser a Good Career? (Feedback from Industry Professionals)
- A Complete Review of a Real Estate Appraisal School that Over 400,000 Students Love
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 Arkansas Appraiser Licensing & Certification Board.
Reference:
- The Appraisal Foundation- National Uniform Licensing and Certification Examinations (source)
- sokanu.com – How much does a Real Estate Appraiser make in Arkansas? (source)
- Salary for Appraiser (Commercial Real Estate) in Arkansas (source)
- Salary for Appraiser (Residential Real Estate) in Arkansas (source)
- Arkansas Appraiser Licensing & Certification Board (source)
- Becoming an appraiser (source)
- Appraisal Subcommittee- Active Appraiser Credentials Summary Report source)
