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How to become a real estate appraiser in Vermont? The quick answer is to fulfill the qualifying appraisal education, work experience requirement, and register with the Vermont Board of Real Estate Appraisers.
They are responsible for issuing licenses to appraisers and protecting the public interest by regulating the appraisal industry.
As a real estate appraiser, your job is to provide an objective opinion of the properties’ market value for your clients. Your appraisal report could be used for home purchasing/selling, refinancing, mortgage lending, tax assessment, divorce settlement, estate sales, investments analysis, etc. But no matter who is in needs of your appraisal services, your assessment must remain objective, unbiased and professional.
There are approximately 623,000 people residing in Vermont. Although it is a small state, it does make good use of its space with a population density. You could consider delivering your appraisal services in cities with high population such as Burlington, Essex and South Burlington.
When we reviewed the figures (as of Dec 2018) displayed on the Appraisal Subcommittee website, there are a total of 265 appraisers in Vermont. The breakdown is as follow:
- # of Certified General Appraisers 140
- # of Certified Residential Appraisers 109
- # of Licensed Residential Appraisers 16
The estimated population density per appraiser in Vermont is 2350 people.
Due to the shortage of working employees, Vermont has a plan in paying $10,000 to people who move and work there. Here’s the article for your reference.
But first, let’s go through the requirement to become a real estate appraiser in Vermont.
The first step to your appraisal career is to complete the pre-licensing courses from a trusted education provider. McKissock received an incredible rating from its students, and their online lessons are taught by instructors who have actual experience in the appraisal industry. You may click here to find out more about their courses. (**)
How to Become an Appraiser Trainee in Vermont?
Your first step in the real estate appraisal career is to become a Trainee Appraiser. This is where you will be mentored and work under the supervision of a certified appraiser.
Your tasks could involve doing research, working on appraisal reports, and inspecting real estate together with the supervisor.
The supervisory appraiser should teach you methods to conduct research on properties, its proximity, zoning, how to analyze the data and the compliance standard. Of course, the industry accepted approaches in determining an unbiased estimation of the property’s market value.
An experienced supervisor could truly enhance your knowledge in becoming a qualified appraiser. To learn as much as possible from your mentor, you should walk through each and every step in the appraisal process, and review carefully on how your trainer inspect and assess real estate.
4 Steps to Become an Appraiser Trainee in Vermont
Step 1: Fulfill the Basic Requirement
- At least 18 years old
- Have a valid Social Security Number
- No prior related experience is needed
Step 2: Complete the Qualifying Education
You must complete the 75 hours of appraisal courses and the AQB Supervisor/Trainee course.
Study tip: Whenever possible, I prefer to take online courses. You can study at your own pace at the convenient of your home, library, or wherever there is internet access. Here’s an article review of an online school that I like.
Step 3: Search for a Supervising Appraiser
Your next step is to find a supervising appraiser. Some trainees might find it difficult in locating one. But don’t worry. To assist you through this process, here are the 10 tips in finding a supervisory appraiser.
Once you and the supervising appraiser decide to work together, you both need to inform the Board about the mentoring relationship through the verification of employment/supervision form.
You must also document your working hours with the approved experience log. These logs are essential when you upgrade your appraiser license in the future. In order for them to be valid, make sure you and the supervising appraiser sign on every page of them.
Step 4: Submit Application to the Vermont Secretary of State Office of Professional Regulation
I’ll include more details about the registration process later in the post.
Is real estate appraiser a good career? This is one of the common questions I hear a lot. Therefore, I spent months and months in connecting with different real estate appraisers. Here are their valuable insights about this profession. Make sure to check it out!
How to Become a Certified Residential Appraiser in Vermont?
As a Certified Residential Appraiser, you have the options to work for a company or government agency as their salaried appraiser or become a self-employed business owner.
With the Certified Residential Appraiser license, you can evaluate:
- residential properties with 1 to 4 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
So let’s review the steps to get you Certified Residential Appraiser license.
5 Steps to Become a Certified Residential Appraiser in Vermont
Step 1: Meet the Basic Requirement:
- You must be at least 18 years old
- Have a valid Social Security Number
- Complete 1 of the following 5 college-level education requirements
- Bachelor’s Degree or higher;
- Associate’s Degree in a specific field of study. (i.e.: business, economics, or real estate);
- Finish 30 college semester credit hours in specified subjects;
- Complete College-Level Examination Program (CLEP)1 exams equivalent to a minimum of 30 semester credit hours in specified subject matter areas; or
- Any combination of #3 and #4 above that includes all of the topics identified.
- If you have been a Licensed Residential Appraiser for over 5 years and remain in good standing, then the college-level education requirement can be waived.
Step 2: Complete the Appraisal Work Experience
You need to complete a minimum of 1500 hours of acceptable appraisal experience in not less than a 12 months period.
Step 3: Fulfill the Education Requirement
You’ll need to complete 200 hours of qualifying appraisal courses from an approved provider.
Interested in becoming a real estate appraiser? Here is an Education Resources Page which could be helpful to you in getting the appraiser license.
Step 4: Submit Application to the Vermont Secretary of State Office of Professional Regulation
Step 5: Pass the Certified Residential Appraiser Exam
I’ll talk more about the exam later in this guide. (i.e, required passing score, number of questions, amount of time in writing.)
How to Become a Certified General Appraiser in Vermont?
If you want to expand your scope of work to more complex type of real estates, then becoming a Certified General Appraiser is definitely worth considering! In fact, more than half of the appraisers in Vermont has the Certified General Appraiser license.
This is the most sophisticated license type you could obtain in the appraisal industry. You could provide assessment to all types of real estate regardless of the transaction value or complexity. (i.e.: commercial properties, golf courses, hotels, wind generating plants, marina, oil refiners, federal or land acquisition.)
Since the transaction values involve could be significant, you need to be extremely careful and responsible when handling your work. Extensive research and site inspections are often required.
Due to the expectation of low margin of error in assessment, the amount of work experience and studying required to become a Certified General Appraiser is the most challenging among all the levels of licensing.
So let’s go over the steps to get you the Certified General Appraiser license.
5 Steps to Become a Certified General Appraiser in Vermont
Step 1: Meet the Basic Requirement:
- You must be at least 18 years old
- Have a valid Social Security Number
- 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 obtained for over a 18 months period. At least 1500 hours of the working experience needs to be from non-residential appraisal work.
Step 3: Fulfill the Education Requirement
You’ll need to finish 300 hours of qualifying appraisal education from an approved course provider.
Step 4: Submit Application to the Vermont Secretary of State Office of Professional Regulation
Step 5: Pass the Certified General Appraiser Exam
Is commercial real estate appraisal a good career? Check out this complete guide. In it, you’ll find the type of work involved as a commercial real estate appraiser, the income potential, and the training you need to have to become one.
Courses Requirement for Vermont Appraisers
| Appraiser Trainee (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 | ||
| Residential Appraisal Site Valuation and Cost Approach | 15 | ||
| Residential Sales Comparison and Income Approaches | 30 | ||
| Residential Report Writing and Case Studies | 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 | 200 hours | 300 hours |
Registration with the Vermont Board of Real Estate Appraisers
Once you have fulfilled all the prerequisites, you could submit your application to the Vermont Secretary of State Office of Professional Regulation . You could do the submit the application online. Below are the links to the application instructions.
In additional to the application, you must provide the following:
- Registration fee ($275 for Trainee, $287 for Certified Appraisers)
- 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.)
- Appraiser Experience Log (Only if you are applying to become Licensed/Certified Appraiser)
- Experience Narrative Summary
- Supporting legal documents (i.e.: background checks)
If you have any questions, you could contact Vermont Board of Real Estate Appraisers at:
- Phone: (802)828-3228
- Email: judith.roy@sec.state.vt.us
- Address: 89 Main Street, 3rd Floor, Montpelier, VT 05620-3402
Vermont Real Estate Appraiser Exam
You will be writing the computerized exam at am approved testing center. Applied Measurement Professionals, Inc. (AMP) is the exam administer.
- Certified Residential Appraiser Exam is a 4 hours exam;
- Certified General Appraiser Exam is a 6 hours exam
The 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 Vermont Real Estate Appraisers Program Candidate Handbook.
To increase your odds in passing the exam on the first time, make sure to check out our 10 tips on how to pass the real estate appraiser exam.
FAQ on Vermont Real Estate Appraiser Career
How long does it take to become a real estate appraiser in Vermont?
It takes 12 to 18 months to become a real estate appraiser in Vermont. 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 1,500 hours of work experience to become a Certified Residential Appraiser in Vermont, and 3,000 hours to become a Certified General Appraiser.
How to renew a real estate appraiser license in Vermont?
All real estate appraisers in Vermont need to renew their license every two years. In addition to the renewal application, you also need to:
- Complete 28 hours continuing education every 24 months which include the 7 hours of USPAP Update course
- There’s no limitation on the number of online courses
- Pay the renewal fee
You should always renew the license and complete all continuing education requirement before the expiry date, else there could be late fee and unnecessary interruption to your appraisal practice.
How much do real estate appraisers make in Vermont?
Your earning ability as a real estate appraiser depends on many factors. For example, your experience, licensing level, the type of properties you specialize in appraising, the company size, its location.
According to the Bureau of Labor Statistics (May 2021), the average annual salary of real estate appraisers in Vermont is $50,930. It typically ranges between $36,750 and $62,280. Top earning property appraisers in Vermont more than $95,100 per year.
Here’s a complete income guide on real estate appraisers in Vermont. In there, I will uncover the income updates, the percentage of appraisers that are making a good living, and whether being a commercial or residential appraisers has any effect on the income. So be sure to check it out!
Career Tips for Appraisers in Vermont
Tip#1: Complete the Appraisal Courses Asap
In most of the states, you need to finish all the trainee education before your working experience could be recognized by the State Board.
Therefore, 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.
I included some details which could be helpful to your studying on our education resources page. Be sure to check it out.
Tip#2: Connect with Other Real Estate Professionals
Talking to other real estate appraisers in Vermont is a good way to learn about the appraisal industry. You could do so by joining appraiser coalitions, online forums or even LinkedIn groups. For instance,
- The New Hampshire and Vermont Chapter of the Appraisal Institute
- The Vermont Association of Professional Real Estate Appraisers
Let them know that you are starting a career as an appraiser. Ask them if they have any tips or advice for newbies to the industry. You’ll be surprised by the number of people who are willing to share their insights with you.
In addition, you should network with other professionals in the real estate field. Mortgage agents, lenders, and realtors can all provide you with valuable feedback, which could be very helpful to your career building in the long haul.
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 without any notice, and not guaranteed to be error-free. For full and exact details, please contact The Vermont Board of Real Estate Appraisers.
Reference:
- Vermont Board of Certified Real Estate Appraisers
- The Appraisal Foundation- National Uniform Licensing and Certification Examinations
- Appraisal Subcommittee- Active Appraiser Credentials Summary Report
- sokanu – How much does a Real Estate Appraiser make in Vermont? https://www.sokanu.com/careers/real-estate-appraiser/salary/
Vermont - salary.com- Salary for Appraiser (Commercial Real Estate) in
Vermont: https://www1.salary.com/VT/Appraiser-Commercial-Real-Estate-Salary.html - salary.com- Salary for Appraiser (Residential Real Estate) in
Vermont: https://www1.salary.com/VT/Appraiser-Residential-Real-Estate-Salary.html
