How to Become a Real Estate Appraiser in Missouri
If you have a keen interest in the real estate market and possess analytical and communication skills, becoming a real estate appraiser in Missouri can be a rewarding career choice. Real estate appraisers play a crucial role in determining the value of properties, which is essential for mortgage lending, property taxation, and investment decisions. This article will guide you through the necessary steps to become a real estate appraiser in Missouri and provide answers to frequently asked questions.
Step 1: Understand the Different Appraiser Levels
In Missouri, there are four levels of real estate appraisers: Trainee, Licensed, Certified Residential, and Certified General. Each level comes with specific requirements and allows you to appraise different types of properties. It is essential to understand the distinctions between these levels before choosing your career path.
Step 2: Meet the Educational Requirements
To start as a real estate appraiser trainee in Missouri, you need to complete 75 hours of approved appraisal education. This education should include specific courses such as Basic Appraisal Principles, Basic Appraisal Procedures, and the 15-hour National Uniform Standards of Professional Appraisal Practice (USPAP) course.
Step 3: Gain Field Experience
After completing the educational requirements, you must gain practical experience as a real estate appraiser trainee. The Missouri Real Estate Appraisers Commission requires a minimum of 2,000 hours of supervised experience within a 12-month period. This experience should be under the direct supervision of a certified real estate appraiser.
Step 4: Obtain a License
Once you have completed the required education and field experience, you can apply for a real estate appraiser license in Missouri. This license allows you to independently appraise non-complex residential properties with a transaction value of up to $1,000,000. To obtain the license, you must pass the Missouri state examination and submit the required application and fees.
Step 5: Advance Your Career
If you wish to appraise more complex residential properties or commercial properties, you can pursue further education and experience to become a Certified Residential or Certified General Appraiser. Certified Residential appraisers can appraise properties of up to four residential units without regard to value, while Certified General appraisers have no limitations on property type or value.
Q: How long does it take to become a real estate appraiser in Missouri?
A: The time required to become a real estate appraiser in Missouri depends on various factors, including the individual’s dedication and the availability of education and experience opportunities. Typically, it may take several months to a few years to fulfill all the requirements and obtain the necessary license.
Q: How much can I earn as a real estate appraiser in Missouri?
A: According to the U.S. Bureau of Labor Statistics, the median annual wage for real estate appraisers and assessors in Missouri is around $55,000. However, the actual income can vary depending on factors such as experience, specialization, and the number of appraisals completed.
Q: Are there any continuing education requirements for real estate appraisers in Missouri?
A: Yes, real estate appraisers in Missouri must complete 28 hours of continuing education every two years to renew their license. This includes a 7-hour National USPAP Update course.
Q: Can I become a real estate appraiser with a criminal record?
A: Missouri Real Estate Appraisers Commission conducts background checks on applicants. Having a criminal record does not automatically disqualify you from becoming an appraiser. However, the severity and nature of the offense will be taken into consideration during the application process.
Q: Are there any professional organizations for real estate appraisers in Missouri?
A: Yes, the Missouri Real Estate Appraisers Association (MREAA) is a professional organization that provides support, education, and networking opportunities for real estate appraisers in Missouri. Joining such organizations can help you stay updated with industry trends and expand your professional network.
In conclusion, becoming a real estate appraiser in Missouri requires completing the necessary education, gaining field experience, and obtaining the appropriate license. It is a career path that offers the opportunity to work independently, contribute to the real estate industry, and earn a competitive income. By following the outlined steps and staying dedicated to your professional development, you can embark on a successful journey as a real estate appraiser in Missouri.