How much do real estate appraisers make?

How much do real estate appraisers make?

The average income for home appraisers is $60,040 as of 2020, according to PayScale, although a certified residential real estate appraiser may earn $100,000 or more, as they become more experienced. 1 A trainee earns considerably less with annual earnings before taxes as low as $20,000.

What credential must a licensed appraiser in Tennessee have?

As of January 1, 2015, those applying to be a licensed or certified appraiser must have an associate’s degree or higher (license) or a bachelor’s degree or higher (certified). The alternative option of taking credits hours in applicable courses will no longer be accepted. Degrees are now required.

How much does a home appraisal cost in Tennessee?

On average, a home appraisal costs between $300 and $400 and is paid for by the buyer or the buyers lender (unless previous arrangements were made for the seller to pay).

Which classification of appraiser is the first step to obtaining a license or certification in Tennessee?

There are three real estate appraiser classifications: State Licensed Appraiser, State Certified Residential Appraiser and State Certified General Appraiser. Background Checks: Beginning January 1, 2015, All Initial Applicants For A Real Property Appraiser Credential Must Undergo Background Check.

How long does it take to become a real estate appraiser in TN?

Becoming an appraiser requires a training period that lasts a minimum of two years. To become a trainee, you’ll need a certified appraiser to serve as your supervisor and you’ll need to complete 82 hours of required coursework.

How many classroom hours are required to obtain a licensed appraiser license in Tennessee?

Certified General Appraiser: At least 300 hours of appraisal education and training, including 15 hours of ethics and standards of practice; 3,000 hours (including 1,500 hours non-residential) of appraisal experience across at least 30 months; and passing the Certified General examination.

Is real estate appraisal a dying profession?

Every year, for the past eight years, the number of active real estate appraisers has declined. The Appraisal Institute (AI) estimates that the number of appraisal professionals is currently shrinking at three percent a year and warns that sharper declines may be on the horizon as appraisers begin retiring en masse.

How to become a real estate appraiser in Tennessee?

As long as the course meets these four requirements of a virtual offering, and as long as the course is an approved course in Tennessee,, we will accept the course for QE or CE purposes.

When was the Tennessee real estate commission created?

Created in 1951, The Tennessee Real Estate Commission licenses, registers and regulates real estate brokers and affiliate brokers, real estate firms, rental location agents, time-share salespersons and developments, vacation clubs and vacation lodging services.

Why is the real estate appraiser Commission important?

The Real Estate Appraiser Commission strives to protect the public welfare by ensuring that only qualified persons are licensed or certified and that all licensees uphold the highest appropriate professional standards of practice, independence and competency.

When do you need to renew your Tennessee real estate license?

On June 14, 2017, the Commission voted to grant a waiver of the continuing education requirements in T.C.A. § 62-13-303 (g) & (h) above, for non-resident licensees whose license is due for renewal prior to September 1, 2017.