How to Become a Real Estate Appraiser in New York?


Certified Residential Appraiser 2

(**) Disclosure: This post may contain affiliate links, meaning our website, RealEstateCareerHQ.com, will get a commission if you decide to make a purchase through the links, but at no additional cost to you.

The New York State has over 19 million people. With such a massive population, it is not hard to imagine there would be great volumes of real estate transactions and refinancing every year. All these would create an enormous demand for appraisals work.

As a real estate appraiser, you could be appraising properties for a family who is looking to buy their first home, for a mortgage lender who wants to know the value of their loan collateral or even institutional investors who are looking to invest into real estate.

Regardless of who you are serving, your job is to provide a professional and unbiased opinion of different properties.

To become a real estate appraiser in the New York State, you need to fulfill the education and work experience requirement. Plus, you are required to register at the NYS Board of Real Estate Appraisal. This is the board which issues the license and regulates the appraiser community.

There are four license levels of appraisers in New York,

  • Appraiser Assistant
  • Licensed Residential Appraiser
  • Certified Residential Appraiser
  • Certified General Appraiser
New York Real Estate Appraiser Infographic

How to Become an Appraiser Assistant in New York?

Becoming an Appraiser Assistant is the first step into the real estate appraiser industry. Most other states would call this entry level to be Trainee Appraiser.

As an Appraiser Assistant, you will work under the supervision of a certified appraiser. Your job could involve researching properties, working on reports, or inspecting properties together with the supervisor.

Having a good mentor would give you a good head start in this career. The supervisory appraiser should educate you with practical appraisal methods, how to properly research a property, how to analyze the data to assess the fair market value of the property.

The best way to advance your knowledge is to go through every step in the appraisal process, observe carefully to how your supervisor assesses properties, and always raise your questions or concerns.

4 Steps to Become an Appraiser Assistant in the New York State

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

Step 2: Complete the Pre-License Education

You need to complete 154 hours of qualifying appraisal-related education. (Which includes the 4 hours of Supervisory/Trainee Appraiser course.) Here’s a table with the specific courses requirement.

Note that the NYS Board does not accept courses that were taken more than 5 years before the application.

(Here’s an Educational Institution that Offers Online Appraisal Courses.)

Step 3: Register to be an Appraiser Assistant with the NYS Department of State

Now you’ve fulfilled the education requirement. It’s time to get your license as an Appraiser Assistant. Here are the details of the registration process.

Step 4: Find a Certified Appraiser to be Your Supervisor

real estate career training

In the New York State, to make sure Appraiser Assistant can get the help and attention they need, a supervisory appraiser cannot supervise more than three trainee appraisers at any given time.

Some people might wonder how to find a mentor. Here is the list of approved supervisory appraisers we found from the Department of State website. Although it only contains their name and Unique ID #, you could try to connect with them on LinkedIn.

Start off by building a friendly relationship. Let them know that you are interested in entering the appraisal industry and ask them how could you be useful to as an Appraiser Assistant.

Many people would be happy to share their experience and insights. As the relationship established, ask them if they know anyone who is willing to supervise an Appraiser Assistant. The more appraisers you can connect to, the higher the chance you could find a supervisor.

(Not sure how to find a supervisory appraiser? Don’t worry! Here are 10 practical tips for you.)

Maintain Good Record of Working Logs

If you are planning to advance your career in the future, you’ll need to show your appraisal experience upon upgrading your license.

To do so, you’ll need to complete the Appraiser Experience Report. You could find this in the “State Licensed/Certified Real Estate Appraiser Application” Form #DOS 1432-f-a.

It is a summary of your work experience, which shows the total # of appraisals you have done or reviewed and the total appraisal hours you have accumulated. Page 9 is for Residential Category, and Page 10 is for General Category.

You could find the Appraiser Experience Log on Page 12. This is where you enter more details into each specific appraisal work.

You should also keep an organized filing of the documentation such as copies of the actual appraisal reports, supporting details or data to develop the appraisals. Although it is not mandatory to show them during the licensing upgrade application, they could be needed upon request.

How to Become a Licensed Residential Appraiser in New York?

Being a Licensed Residential Appraiser could be your second step to advance your appraising career.

As a Licensed Residential Appraiser, you can appraise for any non-complex residential properties with 1-4 units, but given the transaction value is no more than $1,000,000.

For complex 1-4 family residential units, the limit of transaction value is up to $250,000.

Some licensed appraisers could be working for an appraisal firm, where you will have a stable salary or even health benefits. While some decide to run their own appraisal practice, where they could choose their working hours and the type of clients to work with.

Your clients could be individuals, mortgage lenders, banks, or appraisal management companies (AMC). At this stage, most of your work might involve home purchases and mortgage refinancing.

Your daily routine could include doing research online, going on the field to inspect properties, and writing the appraisal reports.

5 Steps to Become a Licensed Residential Appraiser in New York

Step 1: Meet the Basic Requirement:

  • You must be at least 18 years old
  • Have a valid Social Security Number
  • Hold an Associate’s degree or higher/ 30 semester credit hours from an accredited college or university

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 completed some of the courses when becoming an Appraiser Assistant. Therefore, you only need to take the additional courses. Here’s a chart with the courses requirement.

Step 4: Register to Become a Licensed Residential Appraiser with the NYS Department of State

The next step is to submit your application, education and working experience to the NYS Department of State. Here are the details of the registration process.

Step 5: Pass the Licensed Residential Appraiser Exam

After the board review and accept your application, they will send you an exam admission notice. It would provide you with instruction to register for the exam writing.

The Licensed Residential Appraiser Exam is a 4 hours exam, which comprised of 125 questions. Only 110 questions will be scored, the other 15 are pretest questions.

How to Become a Certified Residential Appraiser in New York?

Real Estate Agent Using Mobile Phone In New Property

A Licensed Residential Appraiser has some limitations in the transaction value of the properties that can be appraised. With the Certified Residential Appraiser designation, it would bypass some of the limitations and provide you with greater business opportunity in the appraisal industry.

As a Certified Residential Appraiser, you can appraise for:

  • family properties with 1 to 4 residential units regardless of the transaction value or complexity.
  • vacant or unimproved land that is for 1-4 family residential unit with no limitation on the value or complexity
  • (But keep in mind that you cannot assess for a residential subdivision, unless it is for individual properties within it.)

When we were searching online for the type of  real estate appraiser jobs available in New York, many companies do require you have the certified credential, and not just being licensed. In fact, many larger financial institutions and lenders only work with certified appraisers to assess their desired properties.

Similar to a licensed residential appraiser, you could be providing your appraisal service to individuals, lenders, banks, or appraisal management companies (AMC). Your daily routine could include doing research online, going on the field to inspect properties, and writing the appraisal reports.

To give you a better idea, at the time we were writing this post, there was a job opening for Valuation Appraisal Manager in the New York Metro area. It is from a national lender who provides bridge loans, construction and renovation financing.

The key responsibility of the Valuation Appraisal Manager is to evaluate the “as is” and “after repair” value for properties. Getting the value right is the top priority.

The duties also involve preparing a detailed analysis, explain your findings and present your conclusion to the company’s executives. The role requires a minimum of 5 years in the real estate appraisal industry, and have advanced knowledge in evaluating both single family and multi-family properties.

5 Steps to Become a Certified Residential Appraiser in New York

Step 1: Meet the Basic Requirement:

  • You must be at least 18 years old
  • Have a valid Social Security Number
  • Hold an Bachelor’s degree or higher

Step 2: Complete the Required Hours of Working Experience

You must have at least 2500 hours of acceptable appraisal experience where they need to be acquired for over a 24 months period.

There is a maximum amount of credit hours you could claim for each appraisal work. It would depend on the category that a property is fallen into.

Below is the chart of the maximum hours that can be claimed per appraisal. This is for the Residential Category.

Type of PropertiesStandard Work (Max Credit Hours)Review Work (Max Credit Hours)
Residential Single-Family (Single Co-op or Condo)6 1.5
Residential Single-Family Complex (Waterfront or Unique)20 5
Residential Single-Family Complex,
(Over $5,000,000)
40 10
Residential Multi-Family
(2-4 units)
12 3
Vacant Lot Residential (1-4 units)6 1.5
Farm
(Less than 100 acres, with residence)
184.5

Step 3: Fulfill the Education Requirement

You’ll need to complete 200 hours of qualifying appraisal education from an approved course provider.

You should have completed some of the courses while you were an Appraiser Assistant or Licensed Residential Appraiser. Therefore, you only require to take the extra courses. Here’s a chart with the specific courses requirement.

Step 4: Register to Become a Certified Residential Appraiser with the NYS Department of State

The next step is to submit your application, education and working experience to the NYS Department of State. Here are the details of the registration process.

Step 5: Pass the Certified Residential Appraiser Exam

After the board review and accept your application, they will send you an exam admission notice. It would provide you with instruction to register for the exam writing.

The Certified Residential Appraiser Exam is a 4 hours exam, which comprised of 125 questions. Only 110 questions will be scored, the other 15 are pretest questions.

How to Become a Certified General Appraiser in New York?

The Certified General Appraiser credential is the highest one you could get in this appraisal industry. Simply speaking,the scope of your practice is unlimited, as you could appraise for all types of real estate regardless of the transaction value or complexity.

We just saw a job opening from a reputable and global financial services firm. They were looking for an Appraisal Manager for Commercial Real Estate. Their proposed annual salary is very attractive, ranged from $130,000 to $194,000.

The primary responsibility for the role is to oversee the appraisal management process. The appraisal reports will be used during the underwriting of commercial real estate transactions across the US.

The Appraisal Manager needs to make sure the appraisal process is complying with the regulatory requirements and consistent with the Uniform Standards of Professional Appraisal Practice (USPAP).

Although this type of job opening might not be conventional, as you can see handling appraisal works for commercial properties could advance your career to the next level.

Of course, the first step would be to become a Certified General Appraiser.

5 Steps to Become a Certified General Appraiser in New York

Step 1: Meet the Basic Requirement:

  • You must be at least 18 years old
  • Have a valid Social Security Number
  • Hold an Bachelor’s degree 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 acquired for over a 30 months period. They must include at least 1,500 hours of on-residential appraisal work.

Once again, there is a maximum amount of credit hours you could claim for each appraisal work. It would depend on the category that a property is fallen into.

Below is the chart of the maximum hours that can be claimed per appraisal. This is for the General Category.

Types of PropertiesStandard Work (Max Credit Hours)Review Work (Max Credit Hours)
Residential Multi-Family
(5-12 units - Apartments, condominiums, townhouses and mobile home parks)
36 9
Residential Multi-Family,
(13 or more units - Apartments, condominiums, townhouses and mobile home parks)
4812
Commercial/Industrial Single-Tenant
(Office buildings, R&D, retail stores, restaurants, service stations, warehouses, day care centers, and other similar
buildings.)
4812
Commercial/Industrial Multi-Tenant
(Office buildings, R&D, shopping centers, hotels, warehouses)
6015
Land
(Farms of 100 acres or more in size, undeveloped tracts, residential multi-family sites, commercial sites, industrial sites)
307.5
Complex Farms
(100 acres or more in size, multi-building with Processing facilities)
4010
Manufacturing Plants
4812
Institutional
(Rest homes, nursing homes, hospitals, schools, churches, government buildings)
4812

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 from the previous license(s). Therefore, you just need to complete the extra courses.

I included some details which could be helpful to your studying on our education resources page. Be sure to check it out.

Step 4: Register to Become a Certified General Appraiser with the NYS Department of State

Once you fulfill the education and working experience requirement, you could submit the application, education and working experience to the NYS Department of State. Here are the details of the registration process.

Step 5: Pass the Certified General Appraiser Exam

Once the board review and accept your application, you will receive an exam admission notice, where you’ll be given instructions on how to register for the exam writing.

The Certified General Appraiser Exam is a 6 hours exam, which consists of 125 questions. Only 110 questions will be scored, the other 15 are pretest questions.

Be sure to check my other post: 10 practical tips on how to pass the real estate appraiser exam!

Courses Requirement for Each Appraiser License Level

The core curriculum should include the following:

 Appraiser AssistantResidential AppraiserCertified Residential AppraiserCertified General Appraiser
Supervisory Appraiser/Trainee Appraiser Course4 hours
Basic Appraisal Principles30 hours30 hours30 hours30 hours
Basic Appraisal Procedures30 hours30 hours30 hours30 hours
Residential Market Analysis and Highest & Best Use 15 hours15 hours15 hours
Residential Appraisal Site Valuation and Cost Approach 15 hours15 hours15 hours
Residential Sales Comparison and Income Approaches 30 hours30 hours30 hours
Residential Report Writing and Case Studies 15 hours15 hours15 hours
National USPAP Course or Equivalent15 hours 15 hours 15 hours 15 hours
Statistics, Modeling and Finance15 hours15 hours
Advanced Residential Applications and Case Studies15 hours
Appraisal Subject Matter Electives 20 hours
General Appraiser Market Analysis and Highest & Best Use 30 hours
General Appraiser Sales Comparison Approach 30 hours
General Appraiser Site Valuation and Cost Approach 30 hours
General Appraiser Income Approach 60 hours
General Appraiser Report Writing and Case Studies 30 hours
Fair House, Fair Lending and Environmental Issues15 hours
Specialty Appraisals15 hours
Total154 hours150 hours200 hours300 hours
  • To fulfill the Certified Residential Appraiser course requirement, you have the option to take the 20 hours of “Fair House, Fair Lending and Environment” instead of the “Introduction to Residential Income
  • To fulfill the Certified General Appraiser course requirement, you have the option to take the 15 hours of “Using the HP12C Financial Calculator” instead of the “Specialty Appraisals

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.

Submit Application to the Department of State

To do so, you’ll need to complete the “State Licensed/Certified Real Estate Appraiser Application” Form #DOS 1432-f-a.

This form has 18 pages and is applicable to all level of licenses. It consists of sections where you fill out personal information, some background questions, education completion, experience log, etc. However, not all parts are relevant to the license you are applying, so only fill out the ones that are. Here is the link to download the form.

In addition to the application, you’ll also need to provide:

  • Fees: ($250 for Appraiser Assistant; $355 for Licensed Residential Appraiser; $355 for Certified Residential Appraiser; $355 for Certified General Appraiser)
    • The payment could be made with a cheque, money order or even a credit card. Here’s their credit card payment form.
    • The fee already includes the $25 examination application fee.
  • Supporting legal documents
  • Evidence which shows you have completed the required hours of Board-approved appraisal courses. (i.e., Official transcripts, course completion certificates). You are also required to fill out the Real Estate Appraiser Education for that, which is on page 7 of the application.
  • Proof that you have fulfilled the specific requirement of college level of education for your license (i.e.: Diploma, official transcripts, certificates.)
  • If the license you are applying for requires an exam writing, you should also fill out the Real Estate Appraiser Examination Application.
  • Appraiser Experience Report and the Appraiser Experience Log which shows your working experience.

Then simply mail the entire package to the NYS Department of State, Division of Licensing Services. Their mailing address is on the first page of the application.

License Renewal and Continuing Education Requirements

Real Estate Appraiser Continuing Education

All real estate appraisers in New York are required to renew their license every two years regardless of the level of license.

To do so, you need to submit the renewal application form, and complete the continuing education requirement. There will be a $250 renewal fee.

To have your license maintaining in good standing, you are required to take:

  • 7 hours of National Uniform Standards of Professional Appraisal Practice (USPAP) update course every 2 years.
  • 28 hours of approved appraiser Continuing Education courses every 2 years.

The renewal application will be posted to you 3 months prior to the license expiration. You should do your best to renew it on-time, else, there could be an additional $200 penalty fee, and additional continuing education requirement.

How Much Do Real Estate Appraisers Earn in New York?

real estate agent salary

Your earning ability really comes down to the licensing level, the type of properties you are specialized in appraising, your experience, the location and size of the company, and whether you are working part-time or full-time.

According to sokanu.com, the starting annual salaries are around $31,120 ($14.96/hour), and could go up to $94,530 ($45.45/hour) for top producers.

The average annual income of real estate appraisers is $58,020 which is 73% more than similar careers in New York. Of which 79% are working as full time appraiser, and only 21% are part-time.

Based on the figures on Salary.com, appraiser who focus their practice on commercial real estate tends to earn more than those who only assess for residential properties.

The average annual income of residential real estate appraisers is $54,853. The range generally is between $45,203 and $63,375.

Whereas, an appraiser who focus on assessing the value of commercial real estate has an average annual income of $102,172. The range is mostly between $87,879 and $117,207

(No doubt, the income potential is an important factor in deciding the career path. Therefore, I wrote a complete guide which covers the different factors that could influence it. You will also find how to become six figures earning real estate appraiser.)

Helpful Tips for New York Real Estate Appraisers:

  • Keep in mind that working experience must be gained within 5 years prior to the application submission.
  • All experience claimed must be recorded in chronological order
  • Not all experience are acceptable. For example, Market Value Estates, Business Appraisals, and Personal Property Appraisals could be unacceptable. You could read the definition of each on Page 3 of the “State Licensed/Certified Real Estate Appraiser Application” Form #DOS 1432-f-a.
  • For all your appraisal reports, you must include the title of “State Certified General Real Estate Appraiser,” “State Certified Residential Real Estate Appraiser” or “State Licensed Real Estate Appraiser.” with your license number written adjacent or below the title.

As your practice continues to grow, you should consider specializing in appraising for a particular type of properties or focusing on servicing a specific region.

When I was researching online, I noticed many appraisers were hesitant to tap into unconventional market such as appraising for a cemetery due to the complexity involved. However, the fees for one appraisal work like this could be in the five figures.

This could be a potential market that is being under-served. But you definitely would need an appraiser that is experienced in this type of property to guide you through.

In conclusion, I like the flexibility and different opportunity that the appraisal career can offer. Your earning potential really depends on how much work you are willing to put into.

If you are unsure whether to become a real estate appraiser or not, you could talk to a career counselor at an appraiser education provider.

I hope you do find this post helpful.

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!

Current Jobs Available for New York Real Estate Appraisers

[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 the NYS Department of State.

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.

Recent Posts