How to Become a Real Estate Appraiser in Arkansas?


Certified Residential Appraiser 2

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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, you would start off in working as a State Registered Appraiser, 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 Arkansas Appraiser Licensing & Certification Board. It 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.

Arkansas Real Estate Appraiser Licensing Requirement (Info-graphic)

How to Become a State Registered Appraiser in Arkansas?

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.

[Read: What to look for and expect from a supervisory appraiser?]

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.

4 Steps to Become 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 hours of qualifying appraisal-related education and the Trainee/Supervisor course. Here’s a table with the courses requirement.

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

Realtors In Front Of A House

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.

(Read: 10 Practical Tips to Find a Supervisory Appraiser.)

How to Become a Licensed Residential Appraiser in Arkansas?

real estate appraiser

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.

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.

5 Steps to Become a Licensed Residential 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. Here is list of qualifying appraisal classes.

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. Here are more details about the National Uniform Licensing and Certification Examinations.

How to Become a Certified Residential Appraiser in Arkansas?

Certified General Appraisers Pennsylvania

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 for you to become a Certified Residential Appraiser.

5 Steps to Become a Certified Residential Appraiser in Arkansas

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. Click here to view the specific courses requirement.

Step 4: Submit Application to the Arkansas Appraiser Licensing & Certification Board  

Once you have fulfilled the education and working experience prerequisite, it’s time to submit the license application. 

Step 5: Pass the Certified Residential Appraiser Exam

Click here for more details to schedule the exam writing.

How to Become a Certified General Appraiser in Arkansas?

Real Estate Appraiser Helpful Tips

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.

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.

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 Arkansas 

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. Here are the specific courses requirement.

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. Click here to view the registration steps.

Step 5: Pass the Certified General Appraiser Exam

Now it’s the time to write the Certified General Appraiser Exam. 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!

Courses Requirement for Each Appraiser License Level

 Registered Appraiser (Credit Hours)Licensed Residential Appraiser
(Credit Hours)
Certified Residential Appraiser
(Credit Hours)
Certified General Appraiser
(Credit Hours)
National USPAP Course or Equivalent15 15 15 15
Basic Appraisal Principles30 30 30 30
Basic Appraisal Procedures3030 3030
Residential Market Analysis and Highest & Best Use 1515
Residential Appraisal Site Valuation and Cost Approach 1515
Residential Sales Comparison and Income Approaches 3030
Residential Report Writing and Case Studies 1515
Statistics, Modeling and Finance15 15
Advanced Residential Applications and Case Studies15
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
Total75 hours150 hours200 hours300 hours

Note that the USPAP must be taken in traditional classroom setting and taught by an approved proctor. Click here to find out why I like this appraisal courses provider. 

Register at 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 Details about the AR Real Estate Appraiser Exam

Real estate career studying

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.

You could find out more details in the National Appraiser Examination Candidate Handbook.

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.

Appraiser License Renewal and Continuing Education Requirements

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. 

Career tip: Since you’ll need to take the CE courses, don’t waste your money by taking random classes. Choose the one that could really sharpen your appraisal skills, where you could apply what you learn into the field. Here is an article review of the 10 CE courses that I like.

How Many Real Estate Appraisers are 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 2019) displayed on the Appraisal Subcommittee website, there are a total of 850 appraisers in Arkansas.  The breakdown is as follow:

  • # of Certified General Appraisers 426
  • # of Certified Residential Appraisers 375
  • # of Licensed Residential Appraisers 49

How Much Does a Real Estate Appraiser Make in Arkansas?

real estate appraisal

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 figures on Sokanu.com, despite the starting annual salary is only around $24,610, it has the potential to go up to $64,490 for high earners. Of which some appraisers could be working full-time or part-time.

The average annual salary of real estate appraisers in Arkansas is $44,200,  which is higher than 84% of similar careers.

However, when you read the Oct 31, 2018 figures on Salary.com, you could see that there is significant earning gap among residential and commercial real estate appraisers in Arkansas. 

The average annual salary of appraisers who primarily devote their practice to residential real estates is $47,931. The range generally is between $39,498 and $55,380.

Whereas, an appraiser who specialize in assessing commercial real estate has an average annual salary of  $89,292 . The range is mostly between $76,802 and $102,432.

Can real estate appraisers earn six-figures income annually? Here’s an article that talks about the different factors that could affect an appraiser’s earning.

Helpful Tips for 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.

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 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.

Current Real Estate Appraiser Jobs Opportunity Available in Arkansas

Note: The list of Appraiser Jobs Opportunity is coming soon. Please stay tune

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:

Jacob Coleman

Jacob is a content writer and a real estate investor. He has experience working with different real estate professionals throughout the years. (i.e., appraisers, real estate agents, property managers, home inspectors.) In order to build a career you love, Jacob believes not only you need a thorough understanding about the profession, but you also have to find out what type of jobs could match your personality, lifestyle and expectation.

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