How To Become A Maine Real Estate Appraiser

Careers in Maine real estate are expected to see growth in the next decade. When most people think of careers in Maine real estate, real estate agent or broker is usually what comes to mind. Maine real estate appraisal careers offer a tremendous level of opportunity. If you have ever wanted to work in the real estate industry, but do not want to work in sales, then you should consider earning your Maine real estate appraiser license.

The new rules and regulations’ for appraisal requirements are in effect, and that has leveled the playing field for both newly licensed and experienced appraisers. All Maine real estate appraisers must be to be educated in the most current rules and regulations. Accurately determining a property’s value is more important than ever in the post mortgage crisis housing market, and in less time than you might think you could be starting your Maine real estate appraiser career.

You will begin your Maine real estate appraiser career as a Trainee Real Property Appraiser. At this level, you are required to complete 75 hours of Maine real estate appraiser courses, including the 15-hour USPAP course, before you can become a Maine Trainee Real Property Appraiser. There are no experience or college level requirements to start your career as a Maine Trainee Real Property Appraiser and there is no exam required.

With 2000 hours of appraisal experience over a one-year period and 150 hours of real estate appraiser courses, including the requisite 15-hour USPAP course, the next step of your career as a Maine real estate appraiser is as a Licensed Residential Real Property Appraiser. The Maine Licensed Residential Real Property Appraiser does not have any college requirements, but there is an exam required. You must receive a passing score on the exam and hold a valid license to become a Licensed Residential Real Property Appraiser.

To become a Maine Certified Residential Real Property Appraiser, you must first either have a Trainee Real Property Appraiser license, or be a Maine Licensed Residential Real Property Appraiser. In addition, 200 hours of appraiser education and 2500 hours of experience over a period of at least two years will be required. There are also college level requirements of at least an Associate’s Degree or at least 21 semester units in the subjects of English Composition, Micro or Macro Economics,Finance, Statistics, Algebra, Geometry or higher math course, Business Law, Real Estate Law, or Intro to Computers.

The Maine Certified General Real Property Appraiser must complete 300 hours of real estate appraiser training, including the 15-hour USPAP course, and 3000 hours of experience over 30 months. You must have an active license as a trainee real property appraiser or licensed residential real property appraiser or certified residential real property appraiser. The college level requirements are a Bachelors Degree or higher. In lieu of a degree, 30 semester hours of courses in any of the subjects listed for a Certified Residential Real Property Appraiser and your choice of two elective courses in Accounting, Geography, Agricultural Economics, Business Management, or Real Estate will be accepted.

Learn more about becoming a real estate appraiser in Maine at our sister school, McKissock Learning.

 

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