State Licensed vs Certified Residential Appraisers

 

The whole world of real estate can be a difficult concept to grasp, especially when you get into the different branches of real estate, like appraisals for example. The whole idea of appraisers and appraisals can be confusing. To help clear up the confusion, here is the differences between a licensed appraiser and a certified appraiser.

If you don’t already know, a home appraisal is an estimated value of a home, and appraisals are done by appraisers. Here are two different kinds of appraisers and their differences.

Licensed Appraiser

  • A licensed appraiser is the lowest level of professional appraisers.
  • A licensed appraiser can typically perform appraisal work on a one to a four unit residential structure but can only a do those residential structures if they are at a value that is below $1,000,000.
  • A licensed appraiser has to complete 150 hours of course work and earn 2,000 hours of experience within a year.

Certified Appraiser

  • A certified appraiser has a more narrow job than a certified general appraiser. They can appraise all kinds of property, including commercial property.
  • A certified appraiser has to complete 210 hours of coursework and earn 2,500 hours of experience within two years.
  • A certified appraiser has the ability to appraise any one to four unit residential property at any price and complexity. This means that they can get into┬ápricier markets.

To sum this article up, the difference between a licensed appraiser and a certified appraiser is that a certified appraiser is a few steps ahead of the licensed appraiser, a certified appraiser also can have access to a wider range of properties than a licensed appraiser, and the certified appraiser has to go through more school work and experience than the licensed appraiser.

About the author: Kali is a guest contributor from Midwest Appraisal Management, an appraisal company that matches appraisers to people seeking appraisals.

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