An appraiser is one who develops and reports an opinion of value on a specific type of property. Real Property appraisers (AKA real estate appraisers) can choose specialties to practice within such as residential, commercial and agricultural.
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This classification of real estate appraiser requires the trainee to work under the direct supervision of a certified or licensed real property appraiser. The scope of practice for the appraiser trainee classification is the appraisal of those properties, which the supervising appraiser is permitted to appraise.
This classification refers to those individuals licensed by the Board as being qualified to perform federally-related residential real estate appraisals on 1 to 4 unit residential properties without regard to the complexity or dollar amount. These appraisers are also permitted to appraise non-residential properties having a transaction value of $250,000 or less. The Certified Residential Real Property Appraiser is authorized to give a “certified appraisal” on a federally-related transaction in accordance with FIRREA requirements.
This classification shall consist of those persons certified by the Board as qualified to perform appraisals on all types of real estate, regardless of complexity or transaction value. This classification allows the appraiser to give a “certified appraisal” on a federally-related transaction in accordance with FIRREA requirements.