Qualifications For State Certified Residential Appraiser

(1) An applicant applying for a state certified residential real estate appraiser certification shall first register as a real estate appraiser trainee, or be a licensed or certified general real estate appraiser. The applicant shall then satisfy all of the following education, experience, and examination requirements: (a) General Education. An applicant shall satisfy one (1) of the AQB general education requirements as a prerequisite for certification as a state certified residential real estate appraiser. (b) Appraisal Education. An applicant shall satisfy the following appraisal education requirements as a prerequisite to sit for the state certified residential real estate appraiser examination: 1. Two hundred (200) hours of courses, in subjects related to real estate appraisal (hereinafter “qualifying education requirement”), which shall include: GENERAL PROVISIONS CHAPTER 1255-01 (i) Successful completion of fifteen (15) hours of the National Uniform Standards of Professional Appraisal Practice Course or its equivalent. Equivalency shall be determined through the Appraiser Qualifications Board Course Approval Program or by an alternate method established by the Appraiser Qualifications Board; (I) The Commission shall grant an applicant credit toward the qualifying education requirement for the National Uniform Standards of Professional Appraisal Practice Course only when at least one of the course instructors is an AQB Certified USPAP Instructor who is also a state certified residential real estate appraiser or state certified general real estate appraiser and in good standing. (ii) Successful completion of a thirty (30) hour course in Appraisal Principles; (iii) Successful completion of a thirty (30) hour course in Appraisal Practice or Procedures; (iv) Successful completion of a fifteen (15) hour course in Residential Market Analysis and Highest and Best Use; (v) Successful completion of a fifteen (15) hour course in Residential Appraiser Site Valuation and Cost Approach; (vi) Successful completion of a thirty (30) hour course in Sales Comparison and Income Approaches; (vii) Successful completion of a fifteen (15) hour course in Residential Report Writing and Case Studies; (viii) Successful completion of a fifteen (15) hour course in Statistics, Modeling and Finance; (ix) Successful completion of a fifteen (15) hour course in Advanced Residential Applications and Case Studies; and (x) Successful completion of twenty (20) hours of appraisal subject matter electives, which may include any hours over the minimum listed in (i) through (ix). 2. All courses listed in subparagraph (b) may be taken via distance education. 3. A course hour is defined as fifty (50) minutes of teaching out of each sixty (60) minute segment. 4. The Commission may grant credit toward the qualifying education requirement only if the length of the educational offering is at least fifteen (15) hours and an applicant successfully completes an examination pertinent to that educational offering. 5. The qualifying education requirement may include the one hundred fifty (150) hour qualifying education requirement for the state licensed real estate appraiser classification. 6. An applicant may obtain credit for the qualifying education requirement from any of the following: GENERAL PROVISIONS CHAPTER 1255-01 (i) Colleges or universities; (ii) Community or junior colleges; (iii) Real estate appraisal or real estate related organizations; (iv) State or federal agencies or commissions; (v) Proprietary schools; (vi) Other providers approved by the Commission; and (vii) The Appraisal Foundation or its Boards. 7. An applicant may refer to Chapter 1255-02 Evaluation of Appraiser Education for further delineation of qualifying education requirements. 8. In the event of a denial, an applicant for certification may file a written request for reconsideration with the Commission. The Commission shall consider the request for reconsideration and reevaluate the applicant’s education. In the event that the application is denied after reconsideration, the denial shall not create a contested case as defined by the Uniform Administrative Procedures Act, T.C.A. § 4-5-102. The applicant may reapply for a certificate. (c) Foreign Education. An applicant seeking to satisfy the general education requirements for a State Certified Residential Appraiser credential with college-level education from a foreign institution shall have their education evaluated for equivalency by an accredited, degree-granting domestic college or university, The American Association of Collegiate Registrars and Admissions Officers (AACRAO), a foreign degree credential evaluation service company that is a member of the National Association of Credential Evaluation Services (NACES), or a foreign degree credential evaluation service company that provides equivalency evaluation reports accepted by an accredited degree-granting domestic college or university or by a state licensing board that issues credentials in another discipline. (d) Experience. 1. An applicant shall satisfy the AQB experience requirements as a prerequisite for certification as a state certified residential real estate appraiser. 2. The applicant may also obtain equivalent experience. The Commission shall determine what is considered equivalent experience, which demonstrates the applicant’s competence in the Uniform Standards of Professional Appraisal Practice. Equivalent experience shall be limited to the following: (i) A minimum of twelve (12) months of experience as a licensed or certified real estate appraiser in another state, territory or possession of the United States, or in any country; provided, that the applicant has otherwise met all other requirements of Title 62, Chapter 39, and the rules promulgated by the Commission. 3. An applicant shall provide to the Commission a detailed listing of the types of real estate appraisal reports or file memoranda completed by the applicant for each twelve (12)-month period during which the applicant claims that he or she has gained experience. Separate appraisal logs shall be maintained for each GENERAL PROVISIONS CHAPTER 1255-01 supervisory appraiser, if applicable. The applicant shall provide verification for experience credit claimed on forms prescribed by the Commission which shall include the following information: (i) Type of property; (ii) Date of report; (iii) Address of appraised property; (iv) Description of work performed by the trainee/applicant and scope of the review and supervision of the supervising appraiser; (v) Number of actual work hours by the trainee/applicant on the assignment; (vi) Client name and address; and, (vii) Signature and State certification number of the supervising appraiser, if applicable. 4. No experience credit will be granted that was obtained prior to January 30, 1989. An applicant shall submit sufficient recent experience to demonstrate the ability to apply the current Uniform Standards of Professional Appraisal Practice provisions. (e) Examination. An applicant shall successfully complete the Appraiser Qualifications Board endorsed Uniform State Certified Residential Real Property Appraiser Examination. An applicant must obtain certification designation within twenty-four (24) months from the date of obtaining a passing score on the exam. (f) Once the applicant has completed all of the required qualifying education and experience, then the applicant may submit his or her application for certification. The Commission office shall not process an applicant’s application if the required qualifying education and experience have not been satisfied or if the application is incomplete. The Commission office shall keep an incomplete application active for six (6) months, unless the applicant requests an extension in writing to the Commission. (g) An applicant applying for a State Certified Residential Appraiser certification who holds a current State Licensed Appraiser credential may satisfy the educational requirements for the State Certified Residential Real Estate Appraiser credential by completing the following additional educational hours: 1. Successful completion of a fifteen (15) hour course in Statistics, Modeling and Finance; 2. Successful completion of a fifteen (15) hour course in Advanced Residential Applications and Case Studies; and 3. Successful completion of twenty (20) hours of appraisal subject matter electives. These may include hours over the minimum shown above in other modules. (h) An applicant applying for a State Certified Residential Appraiser certification pursuant to subparagraph (g) must also satisfy the college-level educational requirements as specified in 1255-01-.07(1)(a). GENERAL PROVISIONS CHAPTER 1255-01