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Certified Residential Appraiser License

Certified Residential Appraiser License

 

 

Qualifying Education

Exam

Experience

Continuing Education

200 hours of department approved prelicensure appraiser education courses and college-level education meeting requirements from the chart below

Yes

1,500 hours, in no fewer than twelve (12) months

28 hours for every 2 years of licensing after the first renewal

 

College Level Education for Certified Residential

Option #1

Option #2

Option #3

Option #4

Option #5

Option #6

Bachelor’s Degree in any field of study

Associates Degree in a field of study related to:

  • Business Administration
  • Accounting
  • Finance
  • Economics; or
  • Real Estate

Successful completion of 30 semester hours of college-level courses in each of the following specific topic areas:

  • English Composition (3 hours)
  • Microeconomics (3 hours)
  • Macroeconomics(3 hours)
  • Finance (3 hours)
  • Algebra, Geometry, or Higher Math (3 hours)
  • Statistics (3 hours)
  • Computer Science(3 hours)
  • Business Law or Real Estate Law(3 hours)
  • Two elective courses in any of the above topics, or in Accounting, Geography, Agricultural Economics, Business Management, or Real Estate (3 hours each)

Successful completion of at least 30 hours of College Level Examination Program® (CLEP®) examinations that cover each of the specific topic areas in Option #3 (see Equivalency Table on next page).

Any combination of Option #3 and Option

#4 that includes all of the topics identified

No college- level education required.

 

This option applies only to appraisers who have held a Licensed Residential credential for a minimum of five (5) years and have no record of any adverse, final, and non- appealable disciplinary action affecting the Licensed Residential appraiser’s legal eligibility to engage in appraisal practice within the five (5) years immediately preceding the date of application for a Certified Residential credential.

 

Equivalency Table

CLEP Exams

CLEP Semester Hours Granted

Applicable College Courses

College Algebra

3

Algebra, Geometry, Statistics, or

higher mathematics

College Composition

6

English Composition

College Composition Modular

3

English Composition

College Mathematics

6

Algebra, Geometry, Statistics, or

higher mathematics

Principles of Macroeconomics

3

Macroeconomics or Finance

Principles of Microeconomics

3

Microeconomics or Finance

Introductory Business Law

3

Business Law or Real Estate Law

Computer Science

3

Information Systems

 

Certified Residential Appraisers may appraise 1 to 4 family residential real property of any type or value, including appraisals for federally related transactions.

An application may be filed upon completion of 200 hours of course work which includes the 15-hour National USPAP Course; and 1,500 hours of documentable appraisal experience during no less than 12 months and completion of the qualifying education requirement.

The Certified Residential Appraiser license application may be obtained by downloading the application from the State of Michigan Appraiser's website, www.michigan.gov/appraisers.

Visit the site below for complete requirements.

AQB Criteria

Revision Date:  05/01/18