The Licensing Institution elicenseschool

The information contained below is designed to provide a summary of the minimum education, experience, and examination requirements established by the Vermont Board of Real Estate Appraisers. http://vtprofessionals.org/opr1/appraisers. We recommend that you contact the Board for more detailed information and for any law or regulation changes which may have occurred.

FOUR LEVELS OF REAL ESTATE APPRAISER LICENSING:

• Registered Appraiser Trainee
• State Licensed Appraiser
• Certified Residential Appraiser
• Certified General Appraiser

For Initial Applications, you must meet the following qualifications:

(Upon request, the Office will provide license applications and information about the application process.)

APPRAISER TRAINEE REGISTRATION:

A person who wishes to be registered as an appraiser trainee may obtain an application from the Office. Appraiser trainees can be registered in three categories: licensed appraiser trainee; certified residential appraiser trainee; or certified general appraiser trainee, to correspond to the license of the trainee's supervisor.

COMPLETED APPLICATION MUST INCLUDE:

• Completed application, page 1 and 2, by the applicant;
• Completed "Statement of Supervisor", page 2, by the supervisor; Note: Effective January 1, 2001: In order for experience hours to count, trainees must be registered with the Board.
• Signed and dated "Statements Regarding Child Support, Regarding Taxes and Regarding Unemployment Compensation Contributions", page 3, by the applicant;
• Trainees must complete Verification of Experience Credit.
• Completed "Certification of Appraiser Trainee Education", page 4, by the applicant;
• Education needs to be sufficient for the type of trainee license applied for Annual Registration Fee

IMPORTANT NOTE:

For experience gained while assisting in federal transactions the appraiser trainee must be under the supervision of a licensed appraiser who must approve the final appraisal document and must remain fully responsible for the appraisal. An appraiser trainee shall be entitled to obtain copies of the appraisal reports he or she prepared .

For Applications, you must meet the following qualifications:

LICENSED APPRAISER:

1. Successful completion of the Board's examination.
2. Ninety classroom hours of courses in subjects related to real estate appraisal which shall include 15 hours relative to the USPAP.
3. Two thousand hours of appraisal experience is required. If requested, experience documentation in the form of reports or file memoranda should be available to support the experience claimed.

CERTIFIED RESIDENTIAL REAL ESTATE APPRAISER LICENSE:

1. Successful completion of the Board's examination.
2. One hundred twenty classroom hours, which may include the ninety classroom hour requirement for the Licensed Real Property Appraiser Classification, of courses in subjects related to real estate appraisal which shall include 15 classroom hours relative to the USPAP.
3. Two thousand five hundred hours of appraisal experience obtained over a period of not less than 24 months is required. If requested, experience documentation in the form of reports or file memoranda should be available to support the experience claimed.

CERTIFIED GENERAL REAL ESTATE APPRAISER LICENSE:

1. Successful completion of the Appraiser Qualifications Board endorsed Uniform State Certified General Real Property Appraiser Examination or its equivalent.
2. One hundred eighty classroom hours, which may include the ninety classroom hour requirement for the Licensed Real Property Appraiser Classification or the one hundred twenty classroom hour requirement for the Certified residential Real Property Appraiser Classification, of courses in subjects related to real estate appraisal which shall include 15 hours relative to the USPAP.
3. Three thousand hours of appraisal experience obtained over a period of not less than 30 months is required. The applicant, for experience credit, must have accumulated a total of three thousand hours of appraisal experience of which at least one thousand five hundred hours must be in non-residential appraisal work. If requested, experience documentation in the form of reports or file memoranda should be available to support the experience claimed.

EXAMINATION

The board shall examine applicants for licensure. The Board contracts for an examination equivalent to the Uniform State Certification/Licensing Examination endorsed by the Appraisal Qualifications Board. Separate examinations shall be designed to test the competency in the different categories of licensure. (b) To obtain acceptable appraisal experience the applicant must be registered as a trainee under Rule 2.9 while accumulating the hours necessary for the experience requirement. Hours may also be accumulated while licensed in another state or registered as a trainee in another state if the requirements for licensure or registration are substantially equivalent to Vermont’s.

LICENSE RENEWAL:

A license must be renewed before it expires. The expiration date is printed on the license; expiration dates are occasionally adjusted by the Office, but are normally two years after the previous renewal date. Before the expiration date, the Office will mail a renewal application and notice of the renewal fee. The license must be renewed even if no renewal application or notice is received.

CONTINUING EDUCATION REQUIREMENTS:

Fourteen hours of continuing education must be completed for each year of the license renewal period. You must obtain a total of 28 continuing education hours within the two year renewal cycle. Seven of these hours must cover USPAP.

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