| CURRENT LAWS: |
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Current Laws affecting Real Estate
Appraisers were placed into effect in 1991; these
laws and subsequent adoptions set requirements for
those seeking to be Trainees, Licensed or
Certified Real Estate Appraisers.
 New changes in the requirements take effect
on January 1, 2008. The
American School of Business has and will continue to add
new courses to our programs that are
designed to fulfill the current as well as the
future educational requirements.
Contained in this brochure you will see several
new classes that allow you to complete your
educational requirements. We are an approved
Secondary provider by Hondros Learning and
Dearborn Education under the Appraisal
Qualification Board Course Approval Program. Online courses and seminars also have IDECC approval.
Once licensed as an appraiser, you
must complete continuing education requirements.
We offer courses and seminars both in-class and
on-line to help you meet your continuing education
needs. No other
school in New Jersey offers over 200 hours of
approved appraisal education. |
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TYPES OF LICENSES: |
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TRAINEE REAL ESTATE APPRAISER : |
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If you are just entering the field of
appraisal or have less than two years of
Appraisal experience, then you are
considered a trainee. As a trainee you must
work under the direct supervision of
licensed or certified appraisers when
performing appraisals. |
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LICENSED REAL
ESTATE APPRAISER : |
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This license qualifies an appraiser to
perform appraisals of residential properties
(one to four family) with transaction
amounts up to $1,000,000 and of a
non-complex nature. |
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CERTIFIED
RESIDENTIAL REAL ESTATE APPRAISER : |
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This license qualifies an appraiser to
perform appraisals of any residential
property (one to four families) regardless
of transaction amount or complexity. |
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CERTIFIED GENERAL REAL ESTATE APPRAISER : |
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This license qualifies an appraiser to
appraise properties of any type, residential
or non-residential. |
| MINIMUM EDUCATION & EXPERIENCE REQUIREMENTS |
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This license qualifies an appraiser to
appraise properties of any type, residential
or non-residential.
Applicants must attend and
successfully complete courses of instruction
at a New Jersey approved school, such as the
American School of Business. The
experience requirement is a minimum number
of work hours combined
with a minimum time
frame.
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Type of License |
Current Education |
Education as of 1/1/2008 |
Experience |
Trainee |
75 Hours |
75 Hours |
None |
Licensed Residential |
90 Hours |
150 Hours |
2,000 hours in no less than 12 months |
Certified Residential |
120 Hours |
200 Hours* |
2,500 hours in no less than 24 months |
Certified General^ |
180 Hours |
300 Hours** |
3,000 hours in no less than 30 months |
* New requirements for Certified
Residential Appraisers include a
minimum of 21 college level course
credits.
** New requirements for Certified General
Appraisers include a minimum of 30
college level course credits.
^50% of experience must be non-residential |
| NEW APPRAISERS:
What Courses to Take |
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If you currently do not have any appraisal
education, and are registering for courses
you must complete APP60 & USPAP to fulfill the
Trainee Requirements (75 Hours);
It is our recommendation that you also
include RMA15, RSC30,
RSV15 & RRW15 to fulfill the Residential
Licensing Requirements (150 Hours) The
benefit of registering for
the complete 150 hour Residential Licensing package
is that when you are ready to transition
from a Trainee to a Licensed Appraiser you
will have already fulfilled your
educational requirements. |
| EXISTING APPRAISERS:
What Courses to Take |
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All of our appraisal courses are approved
for Licensing, License Upgrade and qualify
for Continuing Education. Any of our
courses can be added to your existing
hours of education to attain your
educational goals.
 If you are currently a Licensed appraiser
and are looking to upgrade your existing
license to Residential Certification you must
complete courses such as ARA15, SMF15 and
MUCP20.
If you are currently a Certified
Residential appraiser and are looking to
upgrade your existing license to General
Certification you must complete courses
such as GAIA60,
SMF15 and MUCP20.
We also highly recommended that all
existing appraisers take our new Appraisal Exam
Prep Course prior to taking
your state exam. With the January 1,
2008 changes also comes new licensing and
certification exams. These new exams
have been put together on a federal level
and are
anticipated to be more difficult that the
prior STATE EXAMS. See the below
course outline for more information.
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RESIDENTIAL COURSE OUTLINES: |
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APP60 - Appraisal Principles & Procedures
- 60 Hours |
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The
Appraisal Profession |
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Real
Estate Marketplace |
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The
Appraisal Process |
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Building
Construction |
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Data
Collection |
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Site
Valuation |
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The
Cost Approach |
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Sales
Comparison Approach |
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Reconciliation |
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Appraising
Partial Interest |
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Math
and Statistics |
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USPAP: National Uniform
Standards of Professional Appraisal
Practices - 15 Hours |
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Professional Conduct |
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Ethics
Rule & Conduct |
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Management |
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Confidentiality |
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Record
Keeping |
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Competency
and Departure Rule |
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Jurisdictional
Exceptions |
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Supplemental
Standards |
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Definitions |
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Standards
1-10 |
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Statements
ยท Advisory Opinions |
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COURSE TUITION & DISCOUNT PACKAGE - Tuition includes a textbook for each course
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