Pat Butler
Senior Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Illinois
I took the exam for the CRP (Certified Relocation Professional) last week. Very few appraisers have the designation, but it's looked upon very favorably in the relocation industry. Some of the appraisers I've talked to say that having the designation really helps increase the number of relo orders they get- thought I pretty much stay busy with them anyway.
It's a tough exam and it'll be another six weeks before I'll know the test results. I think the other 80 or so people at my exam site in Chicago were almost all non-appraisers. Most had the benefit of in house training by their employers. Other than that, it's pretty much a self study scenario for us humble appraisers.
I was pretty suprised when I got my packet of materials and realized the vast amount of reading that's required. I never counted the pages but it's easily over 1,000 pages and consists of most of their industry studies, a core book, the ERC appraisal handbook, their BMA guide for brokers, information on RESPA, books on home inspection, and many very detailed articles on the industry including some very tough taxation materials.
Only 15% of the test is on the ERC appraisal form and BMA form. Interestingly, that was the last part of the test and I noticed that's where everyone else in the room started to slow down when they were taking the test (longer interval between when everyone turned the pages on their test booklet!). I thought the appraisal questions were extremely difficult for non-appraisers and think I probably did better on the non-appraising part of the test then the others did on the appraisal portion.
One of the appraisal questions actually had a mistake in it. It was a question about the approaches to value, and every answer included the 'highest and best use approach to value.'
Anyway, if anyone ever pursues the designation, I'd recommend getting the materials at least 6 months in advance. Don't wait until one month prior like I did.
It's a tough exam and it'll be another six weeks before I'll know the test results. I think the other 80 or so people at my exam site in Chicago were almost all non-appraisers. Most had the benefit of in house training by their employers. Other than that, it's pretty much a self study scenario for us humble appraisers.
I was pretty suprised when I got my packet of materials and realized the vast amount of reading that's required. I never counted the pages but it's easily over 1,000 pages and consists of most of their industry studies, a core book, the ERC appraisal handbook, their BMA guide for brokers, information on RESPA, books on home inspection, and many very detailed articles on the industry including some very tough taxation materials.
Only 15% of the test is on the ERC appraisal form and BMA form. Interestingly, that was the last part of the test and I noticed that's where everyone else in the room started to slow down when they were taking the test (longer interval between when everyone turned the pages on their test booklet!). I thought the appraisal questions were extremely difficult for non-appraisers and think I probably did better on the non-appraising part of the test then the others did on the appraisal portion.
One of the appraisal questions actually had a mistake in it. It was a question about the approaches to value, and every answer included the 'highest and best use approach to value.'
Anyway, if anyone ever pursues the designation, I'd recommend getting the materials at least 6 months in advance. Don't wait until one month prior like I did.
