New Appraiser questions about licensing

[spauldingjon]

I am going throug McKissock and almost done with the education hours for Licesnsed Appraiser. I am going to go with PAREA for the experience and will get 100% for the Licensed but only 67% for the certified. Am I more marketable for a mentor if I get my Licensed Appraiser License first then go for the Certified License? Also, if I do this, I will have to take the State Exam twice, is that correct?

 

[Joe Flacco]

If you can get licensed without a supervised experience then can't you get experience hours on your own as a licensed appraiser?

 

[spauldingjon]

PAREA is like an AI program that most states have adopted. It gives you 100% experience without a Mentor for the Licensed portion. If I am Licensed, I am wondering if the remaining 500 hours of experience can be more easily obtained by a Mentor (which I understand is difficult) since I am licesned. My understanding is that Licensed Appraisers don't get much business if any at all...told they are looking for Certified. I have the degree to get the Certified...just wondering if I am Licensed first if I can get a mentor easier for the Certified.

 

[Joe Flacco]

Probably won't be any easier. I think you can get work from AMC with a license though. Only thing they care about is if you accept their fee and turn time.

 

[spauldingjon]

I am a Realtor (ugh it is tough)...wondering if it is the same for appraisers...98% done with my courses. I think getting my Licesned first then waiting on a mentor for my Certified is the way to go. I will check with any AMC's in Colorado. Anything to supplement the dire Realtor work right now would be helpful. At this point I would agree to anyting and AMC would ask for.

 

[Dublin ohio]

PAREA is like an AI program that most states have adopted. It gives you 100% experience without a Mentor for the Licensed portion. If I am Licensed, I am wondering if the remaining 500 hours of experience can be more easily obtained by a Mentor (which I understand is difficult) since I am licesned. My understanding is that Licensed Appraisers don't get much business if any at all...told they are looking for Certified. I have the degree to get the Certified...just wondering if I am Licensed first if I can get a mentor easier for the Certified.

Many AMCs/lenders use only certs. Makes it easier, they don't have to worry about limits. I am only licensed and have been for years. Always have plenty of work but not a large number of high value properties in my area and our state goes by transaction amount. Have done many refis with an appraised value over $1M. But as long as the loan amount is less than $1M it is not a problem. Purchases are another thing because the transaction amount is the purchase price.

 

[spauldingjon]

Many AMCs/lenders use only certs. Makes it easier, they don't have to worry about limits. I am only licensed and have been for years. Always have plenty of work but not a large number of high value properties in my area and our state goes by transaction amount. Have done many refis with an appraised value over $1M. But as long as the loan amount is less than $1M it is not a problem. Purchases are another thing because the transaction amount is the purchase price.

Good info...I have been told that Licensed don't get any business. With my Realtor commisisons (err..compensation) I can get by with anything at this point while I wait to find a mentor for the 500 remaining hours of Certified needed.

Just so I understand..if I have the 1,000 hours with the Licensed, I only need an additional 500 hours..not another 1,500 correct?

 

[shrubberyvaluation]

I am going throug McKissock and almost done with the education hours for Licesnsed Appraiser. I am going to go with PAREA for the experience and will get 100% for the Licensed but only 67% for the certified. Am I more marketable for a mentor if I get my Licensed Appraiser License first then go for the Certified License? Also, if I do this, I will have to take the State Exam twice, is that correct?

You should be more marketable since trainees can't really inspect on their own with many clients.

 

[shrubberyvaluation]

Good info...I have been told that Licensed don't get any business. With my Realtor commisisons (err..compensation) I can get by with anything at this point while I wait to find a mentor for the 500 remaining hours of Certified needed.

Just so I understand..if I have the 1,000 hours with the Licensed, I only need an additional 500 hours..not another 1,500 correct?

You should check with your state. I believe there are minimum qualifications but states can add onto the minimum.