876 IAC 3-5-7 Instructors

Sec. 7. Each instructor for an approved real estate appraiser continuing education course must possess at least one (1) of the following minimum requirements: (1) Is a licensed or certified real estate appraiser or licensed real estate broker and has a bachelor's degree: (A) with a major or minor in real estate from an accredited college or university; or (B) from an accredited college or university and a minimum of two (2) years of experience in real estate appraising. Each instructor qualified under this subdivision must also meet the competency requirements of the Uniform Standards of Professional Appraisal Practice (USPAP) (as adopted in 876 IAC 3-6-2 and 876 IAC 3-6-3) for each course that they teach. (2) Is a licensed or certified real estate appraiser and has a minimum of five (5) years of experience as a real estate appraiser. An instructor qualified under this subsection may not teach a course that contains subject matter that is beyond their licensed ability to appraise. Each instructor qualified under this subdivision must also meet the competency requirements of the USPAP (as adopted in 876 IAC 3-6-2 and 876 IAC 3-6-3) for each course that they teach. (3) Has two (2) years of experience as a qualified instructor or professor in the business, finance, or economics department of an accredited college or university. (4) Has an Indiana real estate broker's license and a minimum of five (5) years of experience as a real estate broker. Each instructor qualified under this subdivision must also meet the competency requirements of the USPAP (as adopted in 876 IAC 3-6-2 and 876 IAC 3-6-3) for each course that they teach. (5) Has at least five (5) years of experience in an industry related to or associated with real estate appraisals, including: (A) financial institution underwriters, quality control administrators, or appraisal policy managers; (B) representatives of appraisal management companies or agents; (C) state or federal government appraiser regulatory officials; (D) policy officials, underwriters, administrators, or executive officers of secondary mortgage market investors, insurers, or government sponsored enterprises; or (E) legal, financial, architecture, engineering, or government experts in areas related to real estate appraisal. (6) Notwithstanding the criteria in subdivisions (1) through (5), the board retains the authority to approve instructors with experience and knowledge of specific value to real estate appraisers in Indiana.