How Much Does it Cost to Go to Real Estate Appraiser School?

by Robyn Tellefsen

If you have a knack for fair assessment of property value, you've got what it takes to become a real estate appraiser. But do you know the value of a real estate appraiser education?

Real Estate Appraiser Courses
In order to become a certified real estate appraiser, you first need a bachelor's degree or a specified number of college credits in a real estate-related area. Many appraisers have a degree in a complementary field such as finance or economics.

Since most bachelor's degree programs do not include the specific training courses needed to become a real estate appraiser, you must take these courses separately. Real estate appraiser courses are available through community colleges as well as professional appraisal organizations.

Minimum education requirements to become a real estate appraiser have been set forth by the Appraisal Qualifications Board (AQB) of The Appraisal Foundation. These requirements include a course on the Uniform Standards of Professional Appraisal Practice (USPAP) established by the Appraisal Standards Board (ASB) of The Appraisal Foundation.

Real Estate Appraiser Requirements
Some states have their own real estate appraiser training programs; others use the AQB's recommended program. At the most basic level, appraiser trainee programs require at least 75 hours of specified appraisal education, 15 of which must be on the national USPAP course.

Beyond the trainee level, licensing education requirements vary depending on the type and value of property you can appraise. To become a licensed residential real property appraiser, you need 150 qualifying education hours. To become a certified residential real property appraiser, you need 200 education hours, and to become a certified general real property appraiser, you need 300 education hours.

In order to maintain your real estate appraiser license, you must complete at least 14 continuing education hours each year. You also need to complete a seven-hour national USPAP update course every two years. Contact your state licensing board to determine its specific real estate appraiser education requirements.

Costs of Real Estate Appraiser School
Real estate appraiser tuition averages about $1,200, which may or may not include the cost of textbooks and supplies. Of course, community college programs can be much less expensive.

Some schools offer discounts to students who can pay the total real estate appraiser tuition up front. If you can't come up with the money in one lump sum, find out whether or not the school charges service fees for payment plans.

Online real estate appraiser courses may be more expensive than brick-and-mortar classes because of technology fees, but that additional expense may be nullified by the amount of money you'll save on transportation. Tip: When schooling online, make sure your real estate appraiser program is state-specific so that you'll be able to meet the exact requirements for licensure in your state.

If you do choose to complete your courses online, there are ways to save on real estate appraiser school costs. Some schools offer a free trial period for their certification courses, which can be helpful when you're weighing varying costs of real estate appraiser schools. Other schools enable you to access your online courses even after you complete them, which can save you money on study guides for your board exams. Real estate appraiser textbooks, exam prep materials, and study guides cost about $50 each, though you may be able to order used copies for up to 80 percent off the list price.

Take time to determine your real estate appraiser school costs, and never underestimate the value of a professional education.