Certified Residential
The AQB Real Property Appraiser Qualification Criteria states:
A Certified Residential appraiser may appraise one-to-four residential units without regard to value or complexity.
Qualifying Education
Licensees holding a valid Registered Trainee credential may satisfy the educational requirements by completing the following additional 125 hours of education:
Residential Market Analysis and 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 and Case Studies - 15 Hours
Statistics, Modeling & Finance - 15 Hours
Advanced Residential Applications and Case Studies - 15 Hours
Appraisal Subject Matter Electives - 12 Hours
Valuation Bias and Fair Housing Laws and Regulations - 8 Hours*
Licensees holding a valid Licensed Residential credential may satisfy the educational requirements by completing the following additional 50 hours of education:
Statistics, Modeling & Finance - 15 Hours
Advanced Residential Applications and Case Studies - 15 Hours
Appraisal Subject Matter Electives - 12 Hours
Valuation Bias and Fair Housing Laws and Regulations - 8 Hours*
*The 8-hour (7-hour, plus 1-hour exam) Valuation Bias and Fair Housing Laws and Regulations course is required to upgrade if not taken previously.
College Education
Applicants for the Certified Residential Credential must satisfy at least one of the following five options:
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Bachelor's Degree in any field of study;
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Associate's Degree in a field of study related to:
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Business Administration;
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Accounting;
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Finance;
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Economics; or
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Real Estate
3. Successful completion of 30 semester hours of college-level courses that cover each of the following specific topic areas and hours:
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English Composition;
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Microeconomics;
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Macroeconomics;
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Finance;
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Algebra;
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Statistics;
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Computer Science;
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Business or Real Estate Law; and
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Two elective courses in any of the topics listed above or in accounting, geography, agricultural economics, business management, or real estate.
4. Successful completion of at least 30 semester hours of College Level Examination Program (CLEP) examinations from each of the following subject matter areas:
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College Algebra;
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College Composition;
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College Composition Modular;
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College Mathematics;
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Principles of Macroeconomics;
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Principles of Microeconomics;
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Introductory Business Law; and
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Information Systems
5. Any combination of item 3 and 4 above that includes all of the topics and hours in item 3.
6. No college education required if the applicant has held a Licensed Residential credential for a minimum of five (5) years and has had no adverse, final, and non-appealable disciplinary action affecting the applicant's eligibility to engage in appraisal practice within the five (5) years immediately preceding the date of application to upgrade.
Experience
1,500 hours of experience are required to be obtained in no fewer than twelve (12) months.