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Commercial appraiser requirements?

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mike7912464

Thread Starter
Freshman Member
Joined
May 12, 2008
Professional Status
Certified Residential Appraiser
State
New York
I am a New York State Certified Residential Appraiser looking to get into doing commercial appraising. How come I find no information about the classes and other requirements on the states website? They have it for residential but not for commercial. Also, I do not have the required college but got certified before the requirement took place in January of this year...Will that affect me from doing commercial appraising? Also is there a license or exam you need to take for commercial appraising? I appreciate very much any help I can get...
 

Kali the Boston Terrier

Senior Member
Joined
Jul 7, 2003
Professional Status
Certified General Appraiser
State
Michigan
You need a bachelors degree to get your Certified General, or something like 30 credit hours from a college in several specific courses. Courses as far as each state go, vary greatly. Institute does a good job breaking their classes into General and Residential classes..you may try there. But the classes are the easy part, I do not know one CG right now that is mentoring anyone commercial without a degree. Seeing we can only have three, and why waste the training on someone who can never get the license anyhow, at least not in a timeframe that will make the mentor any money.

The CG test is pretty hard, in our state only 20% of the people have passed...being its a national test I'm sure NY is no different. I think you are pretty SOL if you do not have a degree IMO.
 

The Warrior Monk

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
The requirements are spelled out here:

http://www.dos.state.ny.us/lcns/realestate/reafaqs.html

FWIW, ignore the course list after

Using The HP12C Financial Calculator GE3 15 hours

Those are the old requirements; it looks like the webmaster forgot to remove them.

NY is using the segmented scenario. That means if you completed all of your education requirements on or before 12-31-2007, that component is satisfied...that includes R-1, R-2, G-1, G-2, G-3, E/S, and AQ-1. If anything is missing, you will have to satisfy the new requirements.

There may be equivalency issues with R-5 and R-6; check with the state on that point. You may or may not have to take them.

In the current environment, I would recommend the college degree over the equivalency. A small shop may not care, but at this point in time they are the least likely to hire you. A large shop will likely require it, given the current competitive environment.
 

MBD

Member
Joined
Jan 10, 2005
Professional Status
Certified General Appraiser
State
New York
I checked with the state: R1, R2 and AQ-a are equivalent to R5, R6 and GE1. You will have to take all of the G courses, the Statistics, Finance and Modeling course, plus an elective.

Since you didn't have a bachelor's degree before 1/1/2008, you will need to either obtain it now or take the college level courses that are outlined on the state's web site.
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
Also, I do not have the required college but got certified before the requirement took place in January of this year...Will that affect me from doing commercial appraising? Also is there a license or exam you need to take for commercial appraising? I appreciate very much any help I can get...

You can work as a commerical appraiser under a certified general. Getting certified for residential work prior to the cut-off doesn't excuse you from the certified general requirements. Good luck.
 

mike7912464

Thread Starter
Freshman Member
Joined
May 12, 2008
Professional Status
Certified Residential Appraiser
State
New York
Thank you to everyone that posted. I really appreciate the feedback....Michael
 
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