|
Who must license?
According to Utah law, a license is required for any individual who prepares, for valuable consideration, an appraisal, appraisal report, certified appraisal report, or performs a consultation service relating to real estate. (UCA 61-2b-3)
Who is exempt from licensing?
A license is not required for the following individuals who give an opinion regarding the value of real estate (but an opinion of value may not be referred to as an “appraisal”):
- A licensed real estate Broker or Sales Agent who gives an opinion of value in the ordinary course of business.
- An employee of a company who gives an opinion of value solely for the company’s use.
- Any government official or employee acting within their scope of duties.
- An auditor or accountant who gives an opinion of value while performing an audit.
- An individual who gives an opinion of value for property in which the individual has an ownership interest.
- An individual who gives an opinion of value for which no consideration is paid and upon which no other party is reasonably expected to rely.
- An individual, such as a researcher or secretary, who does not provide significant professional assistance at arriving at analysis, opinion, or conclusion.
- An attorney authorized to practice law in Utah who uses an appraisal report or who states an opinion of value in the ordinary course of business.
How do I become an Appraiser Trainee?
To become an appraiser Trainee an individual must:
- Obtain 75 hours of required Core Curriculum Education from an approved education provider
- Basic Appraisal Principles (30 hrs)
- Basic Appraisal Procedures (30 hrs)
- National USPAP Course (15 hrs)
- Find a Trainee Supervisor: Supervisor must be a Certified Residential Appraiser or General Appraiser who is licensed, active, and in good standing with the state of Utah.
- Complete and sign the Appraisal Trainee Registration Form and submit with the following:
- Education Certificates.
- Two fingerprint cards or receipt of electronic fingerprints submission from PearsonVue.
- $135 non-refundable registration fee ($100 application fee and $35 fingerprint processing fee).
How do I become a Licensed Appraiser?
To become a Licensed Appraiser an individual must:
- Take 75 hours of approved education, including the 15 hour National USPAP course and related exam, from a certified Appraisal Pre-license School.
- Register with the Division as an Appraiser Trainee by completing the Appraiser Trainee Registration.
Note: Appraiser Trainees must work under the direct supervision of a Licensed or Certified Appraiser.
- Take an additional 15 hours of approved education (for a total of 90 non-duplicative hours) from a certified Appraisal Pre-license School.
Note: Education requirements for Licensed Appraiser will change to a total of 150 hours for applications submitted after January 1, 2008.
- Accumulate a total of at least 400 experience points within one to five years as outlined in the Appraiser Experience Points Schedule and Appraiser Trainee Points Schedule.
Note: Residential Appraiser Trainees must be accompanied by their supervisor on the first 100 interior/exterior inspections. General Appraiser Trainees must be accompanied by their supervisor for the first 20 inspections.
- Apply to sit for the Licensed Appraiser exam by submitting to the Division:
- Upon receipt of the Division’s request for specific appraisal samples, submit the requested samples.
- Upon receipt of written approval from the Appraisal Board, take and pass the Licensed Appraiser exam.
- Submit to the Division:
- Completed and signed documentation of successfully passing the exam (issued at the testing center).
- $50 non-refundable National Registry Fee
Note: Incomplete applications will be returned to the applicant.
Note: Licensed Appraisers may appraise non-complex 1-4 residential units with a value less than $1,000,000 and complex 1-4 residential units with a value less than $250,000.
How do I become a Certified Residential Appraiser?
To become a Certified Residential Appraiser an individual must:
- Be an active Licensed Appraiser in good standing.
- Take an additional 30 hours of approved education (for a total of 120 non-duplicative hours) from a certified Appraisal Pre-license School.
Note: Education requirements for Certified Residential will change to a total of 200 hours and an Associates degree or equivalent for applications submitted after January 1, 2008.
- Accumulate an additional 100 experience points after becoming a Licensed Appraiser (for a total of 500 experience points) and have a minimum of 24 months work experience, as outlined in the Appraiser Experience Points Schedule.
Note: At least 375 experience points must be residential.
- Apply to sit for the Certified Residential Appraiser exam by submitting to the Division:
- Upon receipt of the Division’s request for specific appraisal samples, submit the requested samples.
- Upon receipt of written approval from the Appraisal Board, take and pass the Certified Residential Appraiser exam.
- Submit to the Division:
- Completed and signed documentation of successfully passing the exam (issued at the testing center).
- $50 non-refundable National Registry Fee
Note: Incomplete applications will be returned to the applicant.
Note: Certified Residential Appraisers may appraiser 1-4 residential units of any value or complexity but may not appraise subdivisions for which a development analysis/appraisal is necessary.
How do I become a Certified General Appraiser?
To become a Certified General Appraiser an individual must:
- Be an active Licensed Appraiser or Certified Residential Appraiser in good standing.
- Take an additional 90 hours of approved education (for a total of 180 non-duplicative hours) from a certified Appraisal Pre-license School.
Note: Education requirements for Certified General will change to a total of 300 hours and Bachelors degree or equivalent for applications submitted after January 1, 2008.
- Accumulate an additional 200 experience points after becoming a Licensed Appraiser (for a total of 600 experience points) and have a minimum of 30 months work experience, as outlined in the Appraiser Experience Points Schedule.
Note: At least 300 experience points must be non-residential.
- Apply to sit for the Certified General Appraiser exam by submitting to the Division:
- Upon receipt of the Division’s request for specific appraisal samples, submit the requested samples.
- Upon receipt of written approval from the Appraisal Board, take and pass the Certified General Appraiser exam.
- Submit to the Division:
- Completed and signed documentation of successfully passing the exam (issued at the testing center).
- $50 non-refundable National Registry fee.
Note: Incomplete applications will be returned to the applicant.
Note: Certified General Appraisers may appraise all types of real estate in Utah.
How do I become an Appraiser Trainee Supervisor?
- Must be a Certified Residential Appraiser or Certified General Appraiser licensed, active and in good standing with the state of Utah.
- Must notify the Division of Real Estate with any addition or removal of Appraiser Trainees
Note: An Appraiser Trainee Supervisor can have no more than three Appraiser Trainees at one time.
How do I renew my Appraisal license/certification?
Licenses and certifications are valid for a two-year period and must be renewed no sooner than six weeks prior to and no later than the expiration date. The expiration date is printed on the license and can also be found on the Division's Licensee Database.
NOTE: Renewal requirements must be completed prior to renewing your license. If your license expires, you cannot work until the license is reinstated. Your application is subject to audit for compliance with all renewal requirements.
To renew a license, submit to the Division:
Note: To renew a license within 30 days of expiration, submit (in addition to the renewal items above) to the Division:
- $50 non-refundable late fee.
Note: To reinstate a license after 30 days and within six months past expiration, submit (in addition to the renewal items above) to the Division:
- $100 non-refundable reinstatement fee.
Note: To reinstate a license after six months and within 12 months after expiration, submit (in addition to the renewal items above) to the Division:
- $100 non-refundable reinstatement fee.
- An additional 24 hours of continuing education from a Division approved education provider.
Licenses expired for more than one year are not eligible for reinstatement and Utah law requires that licensees reapply as a new applicant.
Note: Incomplete applications will be returned to the applicant.
Who needs to register an Appraisal Management Company?
An entity needs to register as an Appraisal Management company if it:
- Administers a network of appraisers to perform real estate appraisal activities for one or more companies;
- Receives a request for a real estate appraisal activity from a client; and for a fee paid by the client, enters into an agreement with one or more appraisers to perform real estate appraisal activity;or
- Otherwise serves as a third-party broker of an appraisal management service between a client and an appraiser .
How do I register an Appraisal Management Company?
To become a register Appraisal Management Company you must complete and submit the following items to the Division:
- Appraisal Management Company Application.
- Main Control Person Application.
- Control Person Application for any individuals owning 10% or more of the Appraisal Management Company.
- Two fingerprint cards or receipt of electronic fingerprints submission from PearsonVue for the Main Control Person and all Control Persons.
- Letter of Waiver for Main Control Person and all Control Persons.
- Individuals Selecting Appraisers or Reviewing Appraisal Reports on Utah Property Form
- $350 non-refundable Application Fee.
- $35 fingerprint processing fee for Main Control Persons and all Control Persons.
How do I obtain a Temporary Practice Permit for a non-resident?
The State of Utah may issue a six-month Temporary Practice Permit to a non-resident who holds a license/certificate for real estate appraisal from another jurisdiction, if the license/certificate is in good standing and the nature of the business is temporary.
To obtain the Permit, submit to the Division:
How do I obtain a license through reciprocity?
To apply for a license through reciprocity, submit to the Division:
- Completed and signed Appraiser Reciprocity Application.
- Letter of Request from the applicant, which includes a list of all other states in which the applicant is licensed or certified, including those states in which you may have sought only temporary status.
- $400 non-refundable fee ($350 application fee and $50 National Registry fee).
What are the AQB Qualification Criteria changes for 2008?
AQB Qualification Criteria
|