The registered appraiser, an entry-level position, must complete 75 hours of education, including 60 hours of appraisal principles and procedures and 15 hours covering the uniform standards of professional appraisal as reflected in the National Uniform Standards of Professional Appraisal Practice. The principles and procedures portion of the education covers such factors as legal considerations of appraisals, influences on real estate values and other basic themes for understanding the appraisal process and associated standards and ethics. Additionally, the candidate must pass the Colorado Level A licensing examination.
The licensed appraiser must complete, at a minimum, 150 hours of appraisal curriculum that includes the 15-hour National USPAP course, plus accumulating a minimum of 2,000 hours of appraisal experience over the course of at least a year, and the experience must be under the supervision of a state-certified appraiser. Additionally, the candidate must retake the Level A licensing examination if more than a year has passed since he first passed it.
The certified residential appraiser requires at least another 200 hours of particular appraisal curriculum including the USPAP's 15-hour course. Additionally, 2,500 hours of experience is required over no less than two years, and passing the Level B Certified Residential Real Property Appraiser examination. An added requirement includes a two-year degree from an accredited community college or four-year college or university degree, or 21 semester hours of economics, finance, computing--word processing and spreadsheets--as well as credits in English composition, geometry, statistics and real estate or business law.
A certified general appraiser, the final rung on the appraiser's ladder, requires 300 more hours of specific appraisal curriculum, no less than 3,000 hours of experience over the course of two and a half years, and passing the Level C Certified General Real Property Appraiser examination. Additionally, the candidate must have earned a baccalaureate degree from an accredited college, or have completed 30 semester hours in the courses required for the certified residential appraiser, plus electives in accounting, agriculture-economics, real estate, geography or business management.
The Colorado Board of Real Estate Appraisers requires that licensed real estate appraisers receive continuing education to maintaining their license. The licensed appraiser is expected to remain abreast of changes in real estate law and regulations. The continuing education component assures the public that appraisers are providing the best and most knowledgeable service possible.