How To Become A Real Estate Appraiser In Washington State? (Solved)

How to Become an Appraiser in Washington

  1. Complete 154 total hours of qualifying appraisal courses.
  2. Find and register a supervisory appraiser.
  3. Apply for the Trainee license.
  4. Acquire 2,000 hours of experience with a certified appraiser.
  5. Pass the state exam.
  6. Upgrade to the Licensed Residential (LR) license.

Do real estate appraisers make good money?

The average income for home appraisers is $60,040 as of 2020, according to PayScale, although a certified residential real estate appraiser may earn $100,000 or more, as they become more experienced. 2 An appraiser’s salary is highly dependent on the appraiser’s level of experience and licensing.

Are real estate appraisers in demand?

A career as a real estate appraiser provides opportunities to meet new people, see unique locations, and step out from the confines of a desk while making your own hours. According to the Bureau of Labor Statistics, real estate appraisers are projected to experience an estimated 14% growth from 2016 through 2026.

How do you become a real estate appraiser?

To become a real estate appraiser, there are 9 steps you must meet:

  1. 18+ Years Old.
  2. Complete 150 Hours of Coursework.
  3. Apply For Initial Appraisal License.
  4. Pass a Background Check.
  5. Pass State Exam.
  6. Work 2,000 Hours as a Real Estate Appraiser Trainee.
  7. Get Approved.
  8. Apply for a Residential Real Estate Appraiser License.

Is becoming an appraiser worth it?

Real estate appraising can be a rewarding profession. If you are a field appraiser like many appraisers, you have the opportunity to own your own business, even from a home office. Your income is fee based, so getting paid is never dependent on the successful closing of a loan.

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How long does it take to become a home appraiser?

Some states allow you to obtain a Licensed Residential Appraiser credential after 6 months of experience. In other states, it takes longer. Some states require 12 months of experience before you can apply for this credential. Education and exam requirements that may add time onto the process as well.

Is the appraisal profession dying?

Every year, for the past eight years, the number of active real estate appraisers has declined. The Appraisal Institute (AI) estimates that the number of appraisal professionals is currently shrinking at three percent a year and warns that sharper declines may be on the horizon as appraisers begin retiring en masse.

What is the future for real estate appraisers?

With this being said, there is still a demand for appraisers in the current market, and the U.S. Bureau of Labor Statistics expects the employment of appraisers to grow 7% over the next decade. However, what an appraiser does and how the appraisal is done may change dramatically in that period.

What is a real estate appraiser salary?

$110,789 (AUD)/yr.

What is the difference between a certified appraiser and a licensed appraiser?

A certified residential appraiser can legally appraise a building with up to four dwelling units, regardless of the value of the property or its complexity. A licensed residential appraiser is limited to appraising less valuable and less complex properties.

How long does it take to get an appraisal?

In real estate, a home appraisal typically takes two days to a week to fully complete. To complete the appraisal process, the mortgage lender must first order and schedule the appraisal, then gather data about the home.

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Do appraiser trainees get paid?

Beginning appraisers are called appraiser trainees. They usually work part-time and are paid per appraisal. Appraiser trainees often make between $50 and $150 per appraisal, earning more with increasing experience and expertise. On average, they earn approximately $10,000 more per year than licensed appraisers.

Is being an appraiser stressful?

The median age of appraisers is close to 60 years. New people do not want to enter to work long hours for low pay and no benefits. They are always coming up with new report types and raising the bar of excellence. It makes it very stressful, and stress in the profession never takes a holiday.

Is being an appraiser fun?

Your task as an appraiser is inherently interesting. You are challenged most days to solve difficult, but not insurmountable, valuation problems in rational and logical ways. All that aside, it is strangely satisfying to be complimented (sometimes,) for being “right.” Remember, appraisers get paid for their opinions.

How much does a certified general appraiser make?

According to Salary.com, Certified Residential Appraisers’ average income is $55,483 and Certified General Appraisers’ average income is $103,932 in 2021. A higher appraisal license level gives you an advantage in the local market and offers greater control over your fees and more stability in your work.

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