A real estate appraiser assigns a monetary value to homes, commercial buildings and more. It’s a dynamic career that requires research skills, a keen eye and an excitement for all things real estate. In Nevada, there are three types of licenses with varying limitations, but you can start your career as a licensed residential appraiser. There are several requirements you must meet before you can apply for this license.
Nevada requires that aspiring appraisers take some courses to learn all about the appraisal process before they can move further. Topics included are necessary for performing the job satisfactorily:
- Basic appraisal practices
- Appraisal procedures
- Uniform Standards of Professional Appraisal Practice, or USPAP
- State law
After the coursework is completed, the applicant may move onto the internship phase, but may not sit for the licensing test until the balance of the appraisal license course has been completed. Appraisal license courses include instruction in:
- Market analysis
- Valuation of a site
- Sales comparison
- Writing reports
After you complete the first part of your coursework, you can then become what Nevada refers to as an intern and begin getting real-world experience. You will be working with an experienced appraiser for about two years (2000 hours) and learning the real tricks of the trade. You will help this person perform appraisals and he will sign off on them, affirming that you’re learning the right way of doing things under his tutelage.
A license for residential real estate appraisal will not be granted in Nevada unless you have an associate’s degree or a minimum of 30 hours of college credit. More advanced levels of appraising, such as a certified residential appraiser or certified general appraiser, require additional college and work experience. However, a licensed residential appraiser only needs 30 or more hours of college coursework.
Once you have completed all the necessary coursework and real-world experience, you’ll be eligible to sit for the state’s licensing exam. Upon passing, you can apply for your license with the state, pay the required fees, and start working.
While there are several steps to becoming a real estate appraiser in Nevada, you should treat it just like you would any other career preparation. Getting this knowledge base and experience will allow you to become a skilled appraiser and have a career that is mentally fulfilling as well as financially rewarding. You may choose to go back and become qualified for more advanced levels of appraising to open you up for additional work.