Minnesota Appraisal Licensing

 

To find the requirements to become an Appraiser in the State of MN visit the web site for

Minnesota Statute 82B - State specific Laws, Regulations, Codes and Practice Areas pertaining to Real Estate Appraisers

Minnesota Appraiser Licensing

If you have any questions about licensing, please contact the Commerce Department at 651-539-1599.

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BEGINNING YOUR APPRAISAL CAREER....
"Appraisal" or "real estate appraisal" means an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of named interests in, or aspects of, identified real estate for purposes of preparing an appraisal report. An appraisal may be classified by subject matter into either a valuation or an analysis.


Minnesota requires that you must have a license to "Appraise".  There are four basic classes of license for real estate appraisers.


Description of the Minnesota Appraisal Classes of license.
1. Trainee real property appraiser. When a net income capitalization analysis is not required by the uniform standards of professional appraisal practice, a trainee real property appraiser may appraise residential real property or agricultural property.
 

2. Licensed residential real property appraiser. A licensed residential real property appraiser may appraise noncomplex residential property or agricultural property having a transaction value less than $1,000,000 and complex residential or agricultural property having a transaction value less than $250,000.


3. Certified residential real property appraiser. A certified residential real property appraiser may appraise residential property or agricultural property without regard to transaction value or complexity.


4. Certified general real property appraiser. A certified general real property appraiser may appraise all types of real property.


You start by obtaining a Trainee Real Property Appraisal License and then would 'upgrade' to one of the next levels of licensure.


READY TO BEGIN?    What is required?
A real property appraiser is a person who develops an opinion of value for real estate. A real property appraisal is used by clients for many purposes including real estate financing, condemnations, lawsuits, estate filings, and property disputes or dissolutions. To become a real property appraiser in Minnesota, a person must start by obtaining a trainee license from the Minnesota Department of Commerce. An individual is required to complete 75 hours of appraisal education and pass an examination before applying to become a Trainee Real Property Appraiser.


The Appraisal Institute has designed a 75-hour Trainee Appraiser Series to meet the educational requirement for obtaining your Trainee Real Property Appraiser license. The series is comprised of two 30-hour courses titled Basic Appraisal Principles and Basic Appraisal Procedures and one 15-hour course titled Uniform Standards of Professional Appraisal Practice. These courses cover essential appraisal practices, principles, standards and ethics.


How do I become a (1) Trainee Real Property Appraiser?
In order to be a trainee real property appraiser, you must:
Complete 75 hours of approved licensing courses:
1. Basic Appraisal Principles (30 hours)
2. Basic Appraisal Procedures (30 hours)
3. Uniform Standards of Professional Appraisal Practice (15 hours)
You will then be required to pass an examination and you must apply to become a Trainee Real Property Appraiser.


How do I become a (2) Licensed RESIDENTIAL Real Property Appraiser?
In order to be a licensed residential real property appraiser, you must:


(1) complete 150 hours of approved licensing courses:  (See MN Core Curriculum)
Trainee Appraiser Series (75 hours) plus
Licensed Residential Appraiser Series (75 hours)
(2) obtain 2,000 hours of appraisal experience in no less than 12 months
(3) pass the Licensed Residential Real Property Appraiser national exam, and
(4) apply for the Licensed Residental Real Property Appraiser license.


How do I become a (3) Certified RESIDENTIAL Real Property Appraiser?
In order to be a certified residential real property appraiser, you must:
(1) complete 200 hours of approved licensing courses: (See MN Core Curriculum)
Trainee Appraiser Series (75 hours) plus
Licensed Residential Appraiser Series (75 hours) plus
Certified Residential Series (50 hours)
(2) obtain 2,500 hours of residential appraisal experience in no less than 24 months
(3) have a two year college degree (associate degree or higher) or obtain 21 semester hours at an accredited college covering the following specific subject matter courses: English Composition; Principles of Economics (Micro or Macro); Finance; Algebra, Geometry or higher mathematics; Statistics; Introduction to Computers-Word Processing/Spreadsheets; and Business Law or Real Estate Law
(4) pass the Certified Residential Real Property Appraiser national exam, and;
(5) apply for the Certified Residential Real Property Appraiser license.


How do I become a (4) certified GENERAL real property appraiser?
In order to be a certified general real property appraiser, you must:
(1) complete 300 hours of approved licensing courses: (See MN Core Curriculum)
Trainee Appraiser Series plus
Certified General Series (225 hours in specific certified general appraiser courses)
(2) complete 3,000 hours of appraisal experience (at least 50% must be non-residential/commercial experience) in no less than 30 months
(3) have a four year college degree (bachelor degree or higher) or obtain 30 semester hours at an accredited college covering the following specific subject matter courses: English Composition; Micro Economics; Macro Economics; Finance; Algebra, Geometry or higher mathematics; Statistics; Introduction to Computers-Word Processing/Spreadsheets; and Business Law or Real Estate Law; and two (2) elective course in accounting; geography; agri-economics; business management; or real estate.
(4) pass the Certified General Real Property Appraiser national exam, and
(5) apply for the Certified General Real Property Appraiser license.

Minnesota Appraiser License Level Education Requirement (AQB)The required course hours for all appraiser license levels include completion of the 15-hour national USPAP course and specific core curriculum courses and hours in accordance with the real property appraiser qualification criteria as defined by the Appraisal Qualifications Board:

Minnesota Core Curriculum 
(These courses are considered PreLicensing or Qualifying Education)

Trainee (1)
Basic appraisal principles - 30 hours
Basic appraisal procedures - 30 hours
The 15-hour national USPAP course or its equivalent - 15 hours
Trainee level total education requirements - 75 hours

Licensed  (2)
Basic appraisal principles - 30 hours
Basic appraisal procedures - 30 hours
The 15-hour national USPAP course or its equivalent - 15 hours
Residential market analysis and highest and best use - 15 hours
Residential appraiser site valuation and cost approach - 15 hours
Residential sales comparison and income approaches - 30 hours
Residential report writing and case studies - 15 hours
Licensed level total education requirements - 150 hours

Certified residential  (3)
Basic appraisal principles - 30 hours
Basic appraisal procedures - 30 hours
The 15-hour national USPAP course or its equivalent - 15 hours
Residential market analysis and highest and best use - 15 hours
Residential appraiser site valuation and cost approach - 15 hours
Residential sales comparison and income approaches - 30 hours
Residential report writing and case studies - 15 hours
Statistics, modeling, and finance - 15 hours
Advanced residential applications and case studies - 15 hours
Appraisal subject matter electives - 20 hours
(May include hours over minimum shown above in other modules)
Certified residential level total education requirements - 200 hours

Certified general (4)
Basic appraisal principles -  30 hours
Basic appraisal procedures -  30 hours
The 15-hour national USPAP course or its equivalent -  15 hours
General appraiser market analysis and highest and best use - 30 hours
Statistics, modeling, and finance  - 15 hours
General appraiser sales comparison approach - 30 hours
General appraiser site valuation and cost approach - 30 hours
General appraiser income approach -  60 hours
General appraiser report writing and case studies - 30 hours
Appraisal subject matter electives - 30 hours
(May include hours over minimum shown above in other modules)
Certified general level total education requirements - 300 hours

Are any of these courses offered  online?
Yes, please go here to learn about on demand viewing.

How can I contact the Minnesota Department of Commerce?
We have found that the best way to get in touch with the Department of Commerce is via e-mail. You should write to: licensing.commerce@state.mn.us.
Minnesota Department of Commerce
85 7th Place East, Suite 500*
Saint Paul, MN 55101
651-296-4026 or 1-800-657-3978
www.commerce.state.mn.us

*Please send mail to Suite 600 re: Licensing or Unclaimed Property.
NOTE — Walk-up service is no longer available at the Department of Commerce.                Effective 7/1/08, the Licensing Service Counter (Walk-up Counter) is closed.

How much will it cost to obtain a "Trainee" appraiser's license?
The total cost of the trainee licensing process (coursework, exam fee and license fee) is between $1,000 - $1,300.


Are there requirements for "Continuing Education" following my receiving a license?
In Minnesota, every appraisal licensee must complete 30 hours of approved continuing education during each two-year licensing period. Of those 30 hours, 7 hours must be the national USPAP Update course or its equivalent.

Also of Interest:

After you have completed the 75 hours, have passed the test, and are seeking employment, consider placing an ad in our chapter newsletter and on the website at no charge. There are no guarantees that you will find employment, but this has worked for many. Contact maribelle@northstarai.org to place your ad.

In addition to the courses we offer, we also offer seminars which allow MN Appraisers to gain the CE credit they need every two years to maintain their licenses.

Watch for our course and seminar schedule which is updated frequently.