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Appraisers determine the value of residential and commercial real estate. Appraisers spend much of their time inspecting property, researching and writing reports. Most appraisers have at least a bachelor’s degree but a degree is not required. However, according to the Bureau of Labor Statistics, federal law requires most appraisers to hold state certification.
Certification requirements vary by state. In Oklahoma, for instance, individuals start out as appraiser trainees before moving up the ranks to becoming certified appraisers.
Enroll in a state-approved training program. Click “List of Approved Initial Course Providers” at the Oklahoma Real Estate Appraiser Board (REAB) website linked to from the Oklahoma Insurance Department (OID) website at ok.gov/oid. The trainee appraiser curriculum consists of 75 hours of classroom study covering appraisal basics and a course in the National Uniform Standards of Professional Appraisal Practice (USPAP).
Gain supervised work experience. Get employment with a real estate company or other business that hires appraisers. Work under the supervision of a licensed or certified appraiser. Download a copy of the trainee log form from the REAB website. Maintain a log of the property you inspect and the number of hours you work.
Upgrade to a state-licensed appraiser. Obtain 2,000 of work experience as a trainee appraiser. This must be completed within a one year. Complete an additional 75 hours of course study approved by REAB. Refer to the Oklahoma Appraiser Qualification Criteria PDF on the REAB website. Courses are administered by state-approved training providers.
Take the state licensing exam. Visit psiexams.com. Select “Government/State Licensing Agencies.” Choose Oklahoma from the drop-down menu. Select “OK Appraisers.” Choose “OK State Licensed Appraisers.” Download the candidate information bulletin. Read the bulletin thoroughly. The bulletin includes information about scheduling and registering for the exam.
Apply for a state license. Pass the state licensing exam. Contact REAB for information on completing the appraiser state licensing application process. Call them at 405-521-6630 or visit their office in person.
Oklahoma Real Estate Appraiser Board 5 Corporate Plaza 3625 NW 56th, Suite 100 Oklahoma City, OK 73112 405- 521-6636 reab.oid.ok.gov
Request an information packet from the Oklahoma Real Estate Appraiser Board before taking trainee appraiser courses.
Passing the state licensing exam requires a minimum score of 75.
Continuing education classes are required for license renewal.
2016 Salary Information for Appraisers and Assessors of Real Estate
Appraisers and assessors of real estate earned a median annual salary of $51,850 in 2016, according to the U.S. Bureau of Labor Statistics. On the low end, appraisers and assessors of real estate earned a 25th percentile salary of $37,490, meaning 75 percent earned more than this amount. The 75th percentile salary is $73,080, meaning 25 percent earn more. In 2016, 80,800 people were employed in the U.S. as appraisers and assessors of real estate.
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