Real Estate

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Information on obtaining license.
License Education:

Associate Appraiser

  • 30 hours of real estate appraisal principles
  • 30 hours of real estate appraisal procedures
  • 15 hours of which should be Uniformed Standard of Professional Appraisal

Certified Residential Appraiser

  • 200 hours of Prelicense courses

Certified General Appraiser

300 hours must be completed with the minimal hours in the following being met

  • 15 hours of Uniformed Standard of Professional Appraisal
  • 30 hours of basic real estate appraisal principles
  • 30 hours of appraisal approaches
  • 15 hours of appraisal statistics
  • 15 hours of market analysis
  • 15 hours income approach
  • 15 hours of report writing
  • 15 hours of elective courses
Continuing Education:
  • 28 hours of continuing education classes every 2 years
Other Requirements:

Certified Residential Appraiser

  • 2,500 hours of experience during no fewer than 24 months

Certified General Appraiser

  • 3,000 hours of experience during no fewer than 30 months
Applications:
  •   Application fee is $69
Reciprocity:

States that have reciprocal agreement with Illinois

  • Arizona (Certified Residential Appraiser and Certified General Appraiser only )
  • California
  • Connecticut
  • Indiana (Certified Residential Appraiser and Certified General Appraiser only )
  • Kentucky
  • Minnesota
  • Missouri (Certified Residential Appraiser and Certified General Appraiser only )
  • Nebraska
  • New Hampshire
  • Ohio Oregon
  • Wisconsin (Certified Residential Appraiser and Certified General Appraiser only )
  • Wyoming
Examinations:
  • The test is administered by AMP and can be reached at 1-800-345-6559 or register online at http://www.goamp.com/
  • exam fee is $46
  • Certified Residential Appraiser, 3 hour time limit
  • Certified General Appraiser, 4 hour time limit
  • The exam consists of 2 portions, national and state, with a time limit of 3 1/2 hours for both parts
  • Topics on the exam include influences on real estate values, legal considerations, types of value, economies principles, real estate markets and analysis, property descriptions, highest and best use analysis, math and statistics, sales comparison, site value, cost approach income approach, valuation of partial interests, standards/ethics
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