If you’re considering a career as a real estate appraiser, you will need one of the best real estate appraisal schools. There are plenty of good options to choose from. Getting the proper training will make a big difference.
Before we look at the best real estate appraisal schools, it’s important to understand this career a bit better. Let’s look at what type of salary you can expect as a real estate appraiser and the job duties.
What to Expect as a Real Estate Appraiser?
As a real estate appraiser, you will perform appraisals on homes. you will assign a value to a property, based on specific factors including comparable properties that have recently sold.
Investopedia.com defines an appraiser as, “a professional who determines the market value of an asset, notably in the real estate industry.”
The real estate appraisal market is expected to grow quite a bit over the next decade. It can be a lucrative career and a rewarding career. Let’s look at the education you will need, the potential salary, and the work environment you can expect.
Required Education
You will need to meet your state requirements to become an appraiser. The qualifications may vary from one state to another. It’s common to complete about 75 hours of education in appraisal principles and procedures, along with the National Uniform Standards of Professional Appraisal Practice.
The education you need can be completed online, in most states. The best real estate appraisal schools found later in this article will provide just what you need.
Potential Salary
Your salary will grow over time as a real estate appraiser. Beginning appraisers or appraiser trainees will likely work part-time. At this level, you will likely earn between $50 and $150 per appraisal.
Once you complete 1,000 hours as a trainee, you will be able to take the real estate appraiser licensing exam. This will allow you to become a licensed appraiser and earn a higher salary.
As a licensed appraiser, you can earn an average salary of $60,565, according to Indeed.com. Top employers may pay more than $85K.
If you become a certified residential appraiser, you can earn a higher salary. This level will require more experience but will allow you to appraise homes worth $1 million or more.
It’s also possible to become a certified general appraiser, which is the highest level. This level of real estate appraiser can assess the value of both non-commercial and commercial property. At this level, you can earn about $25K more per year than a licensed real estate appraiser.
Work Environment
You won’t have set 9-to-5 work hours. Most appraisers work for themselves or work independently. This means you can set your own work schedule, to an extent. Of course, you still have to take care of your clients and meet deadlines.
It’s also common for real estate appraisers to enjoy some time outside of the office. You’ll get to work in many different houses, along with some time in the office finalizing appraisals.
Top 4 Real Estate Appraisal Schools
1. McKissock Learning
The top online real estate appraisal school is McKissock Learning. They have been providing online appraisal schools for more than two decades. If you’re looking for the highest-quality courses, this is the right choice for you.
With more than 50,000 reviews from students, you can easily see the proof backing up the claims from McKissock Learning. They offer more than 40 real estate appraisal courses. Plus, this is one of the few online real estate appraisal schools offering courses in all 50 states.
McKissock Learning offers the courses you need to get your license. You can also complete the continuing education courses you need and upgrade your license. They even offer professional development courses.
You can complete the necessary education online through McKissock Learning. The package will include:
- Basic Appraisal Principles – 30 hours
- Basic Appraisal Procedures – 30 hours
- National USPAP Course – 15 hours
In some states, you will need more than the required 75 hours of coursework. The states you will need to complete more courses in include:
- California
- Colorado
- Florida
- Georgia
- Kansas
- Kentucky
- Wisconsin
The additional coursework needed can be found through McKissock Learning, in most cases.
McKissock Learning offers both online and Livestream courses. Depending on your state, the price will vary. Some states require more education. For example, in California, you have to complete 158 hours of education. If you’re in a state with additional education required, the cost will be higher than in other states.
California pricing, for example, ranges from $1,680 to $2,310, depending on the package you choose. Alabama, however, requires 79 hours of education. The cost ranges from $950 to $1,399 for the Alabama packages.
2. VanEd
Another option for your real estate appraisal school is VanEd. They have some type of course across 50 states. However, they don’t offer the full educational courses in all states.
VanEd offers full pre-licensing courses in:
- Colorado
- Iowa
- New Jersey
- South Dakota
- Virginia
- Washington
If you live or plan to work in one of these states, you can complete the entire course through VanEd online.
You can get the entire Basic Real Estate Appraisal License Course Package for $950. It’s often discounted by a few hundred dollars. you can also use a payment plan for the packages in VanEd.
This package will give you everything you need including the Basic Appraisal Principles, Basic Appraisal Procedures, and National USPAP Course. You can also get the two basic courses individually for $355 each from VanEd.
In all 50 states, VanEd offers the 7-hour National USPAP Update Course.
VanEd is known as one of the top options for real estate appraiser education. They offer both the licensing courses and the courses you need for renewal.
3. Appraiser eLearning
While Appraiser eLearning doesn’t offer the licensing courses, they are still one of the best real estate appraisal schools. They offer a variety of courses to help you become a better appraiser and advance your career.
Both online and live virtual classes are available. If you’re looking for excellent continuing education courses, they have what you need. Appraiser eLearning offers the following courses:
- ANSI, Home Measurement & the Power of Price-Per-Square-Foot – 7 hours
- Public Records, Square Footage & the Real Estate Information Crisis – 7 hours
- Depreciated Replacement Cost – 7 hours
- Appraiser’s Guide to CYA (Covering Your Appraisals) – 4 hours
- Selecting and Supporting Market Adjustments – 3 hours
- Appraising Complex Properties with Unique Characteristics – 3.5 hours
- Appraising 2-4 Unit MF Properties – 7 hours
- Commercial Property Valuation – 7 hours
- Sales Comparison Approach: A Course on Analysis & Reporting – 7 hours
- Learning Home Measurement – 5 hours
- Appraiser Liability 101 – 4 hours
All of these continuing education courses are stress-free and give you 24/7 online access. You can also get a few bundles if you need multiple courses. The cost of the courses ranges from about $75 to $120 for the online courses.
If you prefer the live virtual courses, you will have to choose a schedule. These courses are held over Zoom and cost $110 for a four-hour course. Schedules tend to have afternoon hours and it will only take one day to complete the shorter courses.
4. CompuCram
While CompuCram doesn’t offer any actual real estate appraisal courses, they do offer exam prep for the licensing exam. This is one of the best online exam prep courses for appraisers.
You get a unique teaching style from CompuCram with cutting-edge learning technology. They provide a compatible option you can use to study on a computer, smartphone, or tablet.
The real estate appraiser license exam prep is $149 from CompuCram. This package comes with interactive flashcards, realistic practice exams, progress tracking, vocabulary building exercises, a pre-assessment, and a money-back guarantee. You get six months of access.
Frequently Asked Questions About Real Estate Appraisers
How long will it take me to complete appraisal school online?
When you choose an online real estate appraisal school, you will need to complete at least 75 hours of education. This will likely take you two to three months. However, many students may need even longer to finish. Some may be able to complete the coursework in just a few weeks.
In some states, you will be required to complete even more coursework. If this is the case, it will likely take you longer to get through the courses.
What is the cost of a real estate appraisal school?
Depending on the option you choose and your state, you will likely pay between $900 and $2,500 for real estate school. The cost will also vary depending on the package you choose. Some real estate appraisal schools offer packages with continuing education course hours, exam prep, and even professional development courses.
What’s the difference between a licensed and a certified real estate appraiser?
You will likely become a licensed real estate appraiser before you become a certified real estate appraiser. Both will have the necessary skills to appraise residential properties. However, as a certified real estate appraiser, you can evaluate properties with a value of $1 million or more.
If you want to become an appraiser, you will need one of the best real estate appraisal schools. This list includes the best options to complete your online real estate appraiser education.
