Text Size
Increase text size
Increase text size

Experience Requirements

Appraisal Experience Requirements

 

A common inquiry asked of the Board of Real Estate Appraiser staff is what constitutes real estate appraisal experience and how is the experience documented. Both Board Rules and the Uniform Standards of Professional Appraisal Practice (USPAP) address this issue.

Board Rule 5.1 states "Acceptable experience includes appraisal, appraisal review, appraisal consulting and mass appraisal experience where the appraiser demonstrates proficiency in the development and reporting of the assignment results utilizing recognized appraisal principles and methodology during the appraisal process as defined by Board Rule 1.29. The Board may consider other experience upon petition by the applicant." Board Rule 5.8(d) states "Experience shall build upon itself and need not include the entire appraisal process including arriving at an opinion of value. Experience may include one or all of the steps taken in the appraisal process as defined by Board Rule 1.29."

Both Board Rule 11.2 and USPAP Standards Rule 2-3 require that an appraiser who substantially contributes to an appraisal must be specifically acknowledged. If an assisting appraiser does not sign an appraisal report, the specific contributions of the assisting appraiser must be acknowledged in the certification. If specific contributions are not acknowledged or the assisting appraiser does not sign the appraisal report, the appraiser may not use the appraisal report as evidence of appraisal experience. A review of Advisory Opinion-5 of USPAP is suggested.

Applicants for appraiser licensure or certification must submit an experience log of all appraisal work assignments.

 

 

Appraiser Experience Log excel spreadsheet

Appraisal Log Form and Instructions pdf file

Log for Mass Appraisals 2012 Version excel spreadsheet

It is the appraiser's responsibility to keep track of the actual hours spent on each appraisal.

Estimations of the total number of hours are not appropriate to verify experience. There is no "set" number of hours that is accepted each appraisal, as appraisal assignments usually vary in the number of hours it takes to complete them. It is required that the appraiser enter the number of hours on to the log on a per appraisal basis.

 

Connect

facebook twitter

Contact

1560 Broadway, Suite 925, Denver, CO 80202 Email
(303) 894-2166 / (303) 894-2185 - Phone (303) 894-2683 - Fax