Licensed Residential

through PAREA

The AQB Real Property Appraiser Qualification Criteria states:

A Licensed Residential appraiser may appraise non-complex one-to-four residential units having a transaction value less than $1,000,000 and complex one-to-four residential units having a transaction value less than $400,000.

Qualifying Education

Applicants must have completed the following required core curriculum (qualifying education) prior to beginning the PAREA program for Licensed Residential.

Basic Appraisal Principles - 30 Hours

Basic Appraisal Procedures - 30 Hours

Valuation Bias and Fair Housing Laws and Regulations - 8 Hours*

15-HR USPAP (or its equivalent) - 15 Hours

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

*The 8-hour (7-hour, plus 1-hour exam) Valuation Bias and Fair Housing Laws and Regulations course is required if not taken previously.

College Education

None - high school diploma or equivalent.

Experience

A valid completion certificate from an approved PAREA program for the licensed residential module.

Examination

You must complete your education and PAREA experience prior to submitting an application for licensure through PAREA. Once you've been approved to take the exam, an exam authorization form will be emailed to you for the purpose of scheduling your exam with Pearson Professional Assessments. Successful test results should be sent to the Board via mail, email or fax.