APPRAISAL  FAQs

     1.  Is this class approved by the Real Estate Appraisal Board?
     2.  What are the requirements to become a Real Estate Appraiser?
     3.  Where are your classes held?
     4.  How many hours of continuing education do I need?
     5.  Can continuing education courses be used toward pre-licensing?
     6.  Does it matter what order I take the classes in?
     7.  Do you have evening classes?
     8.  Is it difficult to find an appraiser who will supervise me?
     9.  How long does it take to fulfill the experience requirements for a license?
     10. When do I need to affiliate with an appraiser?
     11. Is it difficult to get into the appraisal industry?
     12. Where do I take the State appraiser exam?


   ANSWERS

     1. Each of the class descriptions indicates the number of hours
         the Appraisal Board will accept for continuing ed or pre-licensing.

     2. There are four license levels in Virginia. Except for the Trainee license,
         all of them have an education requirement and an experience requirement.
         The four licenses are:
              Appraiser Trainee
                   Complete 75 hrs of education, no experience required,
                   pass state licensing exam.
                   (Trainees must work under the direction of a supervising appraiser.)
              Licensed Residential
                   Complete 150 hrs of education, 2,000 hrs experience,
                   pass state licensing exam.
                   May appraise properties of 1-4 residential units with transaction value
                   of less than $1 million, and non-complex, non-residential properties
                   with transaction values up to $250,000.
              Certified Residential
                   Complete 200 hrs of education (may include 90 hrs above),
                   2,500 hrs experience, pass state licensing exam.
                   May appraise properties of 1-4 residential units regardless of
                   transaction value, and non-residential properties with transaction
                   values up to $250,000.
              Certified General
                   Complete 300 hrs of education (may include 90 hrs noted above,
                   but 30 or more hrs in non-residential appraisal); 3,000 hrs experience
                   (1,500 or more must be in non-residential appraisals),
                   state licensing exam.
                   May appraise all types of real estate and real property regardless of
                   value, complexity or type.

         * All license levels require at least 15 hours on the Uniform Standards
           of Professional Appraisal Practice.

     3.  Classes are held at various locations to best serve our students.
          Refer to a specific schedule for that class location.

     4.  Appraisers are required to complete 28 hours of continuing education
          during each two year license period.
          The 28 hours of continuing ed must include the 7-Hour National
          USPAP Update Course.

     5.  In most cases, no.
          To be accepted for pre-licensing credit, appraisal courses must be
          at least 15 hours in length and there must be a final exam.

     6.  The preferred sequence is to begin with the
          Basic Appraisal Principles course.
          The order of subsequent courses is not as important.

     7.  We try to vary our schedules to accommodate the needs
          of as many people as we can.  Please check the current
          schedule of classes.

     8.  Acquiring experience as a trainee requires direct supervision
          by a licensed or certified appraiser, which means a commitment
          of time by the supervising appraiser. A trainee needs to be persistent
          in seeking the help of a qualified appraiser.

     9.  Under current Virginia regulations, about one year for Licensed Residential.

     10. As soon as you are ready to begin your appraiser training.

     11. It's more difficult than getting employment at a fast food restaurant,
          but less difficult than becoming a brain surgeon.
          Seriously, the difficulty of most endeavors is proportionate to
          the benefits to be gained.

     12. State licensing exams are administered by PSI Examination Services.
           To order an exam “Guidebook” with detailed information and exam
           application form, call (800) 733-9267.

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The Real Estate
Academy, Inc.
2720 Enterprise Pkwy.
Suite 113
Richmond, VA 23294
Tel: 804.934.0010
Fax: 804.934.0013



The  Real Estate Academy , Inc.
is a certified real estate proprietary school in the Commonwealth of
Virginia.
Real Estate
Board certification
# 0211 000212