How to Become an Appraiser in Montana
If you have a keen eye for detail, excellent analytical skills, and a passion for real estate, becoming an appraiser in Montana might be the right career path for you. Appraisers play a crucial role in determining property values, which is vital for various purposes such as buying, selling, refinancing, and taxation. This article will guide you through the steps required to become an appraiser in Montana and answer some frequently asked questions about this profession.
Step 1: Understand the Requirements
The first step towards becoming an appraiser in Montana is to understand the requirements set by the Montana Board of Real Estate Appraisers (MBREA). The board oversees the licensing and regulation of appraisers in the state. To become a licensed appraiser, you need to fulfill the following criteria:
1. Education: Complete the required education hours based on the licensing level you wish to achieve. There are three levels of licensing in Montana: Trainee Appraiser, Licensed Residential Appraiser, and Certified Residential Appraiser. The education hours range from 75 hours for a Trainee Appraiser to 200 hours for a Certified Residential Appraiser.
2. Experience: Gain practical experience under the supervision of a certified appraiser. The experience requirements vary depending on the licensing level, ranging from 2,000 hours for a Licensed Residential Appraiser to 2,500 hours for a Certified Residential Appraiser.
3. Exam: Pass the national Uniform State Certification Examination. This exam consists of multiple-choice questions designed to assess your knowledge of appraisal principles and practices.
Step 2: Complete the Required Education
To meet the educational requirements set by the MBREA, you must enroll in an approved appraisal education provider. These providers offer courses that cover the necessary topics in real estate appraisal. Ensure that the provider you choose is approved by the Montana Board of Real Estate Appraisers.
Step 3: Gain Practical Experience
After completing the required education, you must gain practical experience by working under the supervision of a certified appraiser. This hands-on experience will provide you with valuable insights and skills required to become a competent appraiser. Keep a record of your experience hours, as you will need to submit it when applying for your license.
Step 4: Pass the Exam
Once you have fulfilled the education and experience requirements, you are eligible to take the national Uniform State Certification Examination. The exam is administered by the Appraiser Qualifications Board (AQB). To prepare for the exam, consider taking practice tests and studying the recommended textbooks and reference materials.
Step 5: Apply for Licensure
After successfully passing the exam, you can apply for licensure with the Montana Board of Real Estate Appraisers. Submit the application along with the required documentation, which includes proof of education, experience, and exam results. Pay the application fee as specified by the board.
FAQs:
Q: How long does it take to become an appraiser in Montana?
A: The time required to become an appraiser in Montana varies depending on the licensing level you wish to achieve. Generally, it can take anywhere from one to three years to complete the necessary education, gain the required experience, and pass the exam.
Q: How much do appraisers earn in Montana?
A: The earnings of appraisers in Montana vary depending on factors such as experience, specialization, and the geographical area they serve. According to the Bureau of Labor Statistics, the median annual wage for real estate appraisers and assessors in Montana was $51,470 in May 2020.
Q: Are there any continuing education requirements for licensed appraisers in Montana?
A: Yes, licensed appraisers in Montana are required to complete continuing education courses to renew their licenses. The MBREA mandates 28 hours of continuing education every two years, which must include a 7-hour National USPAP Update course.
Q: Can I become a certified appraiser in Montana with a criminal record?
A: The Montana Board of Real Estate Appraisers considers criminal records on a case-by-case basis. Having a criminal record does not automatically disqualify you from becoming an appraiser. However, certain offenses, especially those related to fraud or dishonesty, may affect your eligibility.
Q: Can I transfer my appraiser license from another state to Montana?
A: Yes, Montana has reciprocity agreements with several other states, allowing licensed appraisers to transfer their licenses. However, you must meet certain criteria and submit the required documentation to the Montana Board of Real Estate Appraisers for evaluation.
In conclusion, becoming an appraiser in Montana requires a combination of education, experience, and passing the national exam. By following the outlined steps and meeting the requirements set by the MBREA, you can embark on a rewarding career in real estate appraisal.