How is an Indiana Real Estate Appraisal License obtained?
To obtain an appraisal license one must: 1) Be at least 18 years of age; 2) Have 200 hours of appraisal education, and pass the course examination in each of the courses with a passing grade of 75% or better; 3) Successfully pass the state-licensing exam. 4) Complete 2500 hours of Apprenticeship experience
The REAL ESTATE CERTIFICATION PROGRAM
Real Estate Appraisal
How To Get Started In An Exciting and Proﬁtable Appraisal Career
The Real Estate Certiﬁcation Program, Inc. 2088 Liberty Drive, Suite 114 Bloomington, IN 47403
Frequently Asked Questions
How does one obtain the 200 hours of education?
One must complete the 90-hour course in order to begin your 2,500 of practical experience with a Certiﬁed Residential licensed Appraiser. The textbooks are included in your registration. Look inside for the courses scheduled for you to obtain the remainder of the 200 hours. For speciﬁc dates and times of these courses, consult the RECP course schedule inside this brochure, or go to www.recp.org.
What is the state exam like and when is it administered?
The exam is prepared, administered, and scored by a professional third-party testing service under contract with the state. The license exam is administered daily except Sundays and Mondays. For any additional information on examination schedules please visit www.promissor.com, our Indiana State testing provider. This site will explain the exam, testing requirements, and even offer sample test questions.
REAL ESTATE CERTIFICATION PROGRAM
The Real Estate Certiﬁcation Program , Inc. 2088 Liberty Drive, Suite 114 Bloomington, IN 47403
(800)742-4067 local (812)333-2299 fax (812)334-7813 www.recp.org
R E C P
C e r t i f i c a t i o n
P r o g r a m
The education and experience requirement for the Indiana Certified Residential Appraiser candidate is 200 hours of education and 2,500 hours of appraisal experience with a Certiﬁed Residential appraiser in no less than 24 months (as a trainee). The courses listed below will meet the 90 hour requirement to enable you to start your 2,500 hour practical experience. More classes will be added to allow you to complete the remainder of your 200 hours of education.
Appraisal Procedures (30 hours)
Uniform Standards of Professional Appraisal Practice
Saturdays: February 13, 20, 27 & March 6, 2010 This course provides an insight into real estate appraisal approaches, value, property description, residential and commercial applications, improvement construction, visual inventory, and appraisal mathematics.
(15 hours) Saturdays: April 3 & 10, 2010 Th i s c o u r s e f o c u s e s o n t h e requirements for ethical behavior and competent performance by appraisers. It emphasizes the role of the appraiser and the impartiality associated with this role. It is designed to aid appraisers seeking competency in USPAP, in all areas
2008 Appraiser Trainee Prelicense Requirements:
Appraisal Principles (30 hours)
Residential Site Valuation & Cost Approach
of appraisal practice including those subject to state licensing or certification. Note to Brokers:
Fee appraisals conducted by licensed brokers per Section 1. 876 IAC 1-1-43 reads as follows: “Sec. 43. Any broker who appraises real estate in Indiana must comply with the Uniform Standards of Professional Appraisal Practice as adopted in 876 IAC 3-6-2 and 876 IAC 3-6-3”
(15 hours) Saturdays: March 20 & 27, 2010 This course will enable participants to gain insight and working knowledge of the various theories and methodologies in arriving at opinions of value for residential sites. In the Cost Approach Section, the advantages and disadvantages of completing this approach in residential appraising will be examined along with an in-depth analysis of several methods for estimating accrued depreciation.
Saturdays: January 16, 23, 30 & February 6, 2010 16 This course provides an overview of real property concepts and characteristics, legal considerations, value inﬂuences, real estate finance, types of value, economic principles, real estate markets and analysis, and ethics in appraisal practice.
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The RECP is the proud Indiana exclusive afﬁliate of the RealtyU network. For more information visit: www.realtyu.com
Real Estate Appraisal Pre-License Course Enrollment Form
1. Student Information
Name (as it appears on your driver’s license) Email Address Home Mailing Address City ( ) Day Phone ( ) Fax State Zip Code SS#(last 4 digits)
2. Choose your Appraisal Licensing Course (see back) Appraiser Trainee Courses
Location: Indianapolis (The RECP @ The Winterton Ofﬁce Complex) Appraisal Principles (30 Hours) January 16, 23, 30 & February 6, 2010 Appraisal Procedures (30 Hours) February 13, 20, 27 & March 6, 2010 Residential Site Valuation & Cost Approach (15 Hours) March 20 & 27, 2010 Uniform Standards of Professional Appraisal Practice (15 Hours) Pr Aprl 3 & 10, 2010 90 Hour Package: Sign up for all 4 course now and save $160! A $1160 value for only $1000. Tuition $385 $375 $200 $200 $1000
( ) Evening/Weekend Phone Tell us how you heard about us:
Full Payment Due at Time of Registration Amount Paid = Tuition Check/ Check/Money Order (Made payable to RECP) American Express Discover Mastercard Credit Card Number Exp. Date Signature on Card Name on Card (Please Print) TOTAL: $ Visa
RECP encourages you to successfully complete the courses in the sequence listed above. Each course covers a great deal of material in a short period of time. We assume each student has a full understanding of the material covered in the preceding courses. If you would like to request a refund you must do so before the ﬁrst class session. A $35 prosessing fee will be deducted from all refunds for each class. If you ﬁnd it necessary to transfer to a later class you may do so on a one time only basis to the next available class. Transfers must take place prior to the ﬁrst class. There is a $10 charge for this service.
Certiﬁed Residential Appraiser Courses
Location: Indianapolis (The RECP @ The Winterton Ofﬁce Complex) Residential Market Analysis and Highest and Best Use (15 Hours) Dates: To Be Announced Residential Appraiser Site Valuation and Cost Approach (15 Hours) Dates: To Be Announced Statistics, Modeling and Finance (15 Hours) Dates: To Be Announced Residential Sales Comparison and Income Approaches (30 Hours) Dates: To Be Announced Residential Report Writing and Case Studies (15 hours) Dates: To Be Announced Advanced Residential Applications and Case Studies (15 hours) Dates: To Be Announced Appraising Unique and Complex Properties (20 hours) Uni Dates: To Be Announced Tuition $200 $200 $200 $375 $200 $200 $325
4. Send It In Fax: (812)334-7813 with credit card payment Call: (800)742-4067 or (812)333-2299 with credit card payment Enroll online:
www.recp.org with credit card payment
Mail or In Person: The RECP
2088 Liberty Drive, Suite 114 Bloomington, IN 47403
REAL ESTATE CERTIFICATION PROGRAM
Appraiser Trainee Pre-license Requirements:
Indiana requires ninety (90) classroom hours of Appraiser Qualiﬁcation Board (AQB) approved qualifying education to sit for the Appraiser Trainee examination. The minimum classroom hours breakdown is:
Certiﬁed Residential Pre-license Appraisal Educational Requirements:
Two hundred (200) classroom hours of Appraiser Qualiﬁcations Board (AQB) approved qualifying education, along with appraisal experience credits (2500 work credit hours over not less than 24 months), and the college courses and/or degree requirements, are required to sit for the Certiﬁed Residential License examination. This means an additional 110 hours of appraisal education for RECP will be offering these AQB approved qualifying educational courses at the RECP Indianapolis classroom in the Winterton ofﬁce complex, from 8:00am to 4:30pm, according to the attached schedule. (Electives, if needed, have to be AQB approved and meet the 15 hour classroom minimum with an examination.)
Basic Appraisal Principles Basic Appraisal Procedures Elective (AQB approved Topic) Uniform Standards of Professional
30 Hours 30 Hours 15 Hours
appraisers currently holding an Indiana Trainee or Licensed Residential license acquired with 90 hours of course work. Only AQB approved courses of 15 hours or more with an examination can be used as qualifying education for pre-license purposes. The minimum classroom hours breakdown is as follows: Residential Market Analysis and Highest and Best Use.......................15 Hours Residential Appraiser Site Valuation and Cost Approach...........15 Hours
Source of Required Course Topic: The Real Property Appraiser Qualiﬁcation Criteria, effective January 1, 2008 as published by the Appraiser Qualiﬁcations Board of The Appraisal Foundation.
Appraisal Practice (USPAP) 15 Hours ________ Total: 90 Hours
See the attached schedule for the next available Appraiser Trainee Course and get started this year!
Residential Sales Comparison and Income Approaches..........................30 Hours Residential Report Writing and Case Studies..............................15 Hours Statistics, Modeling and Finance...................15 Hours Advanced Residential Applications and Case Studies..............................15 Hours Appraisal Subject Matter Electives (AQB approved topic)...................15 Hours (min) Total Hours...............................................120 Hours