Minnesota Appraiser License Requirements
Becoming a real estate appraiser offers you a great opportunity to start your own business, create a flexible schedule, and have more control over your earning potential. If you’re already an appraiser, upgrading your license can help you build your existing business and significantly increase your income.
Whether you want to learn how to become an appraiser in Minnesota or advance your current license, we have the qualifying education necessary to reach your goals.
Minnesota Appraiser License: Trainee
How to become an appraiser in Minnesota
The first step on an appraiser’s career journey is becoming a Trainee. As a Trainee Appraiser, you’ll work directly with a supervisory appraiser to learn how to complete appraisals and write reports. To get your Trainee Appraiser license in Minnesota, you will need to meet the state requirements first.
- Complete 75 hours of qualifying education
- Complete the Minnesota Supervisor/Trainee Appraiser Course
- Ensure a Certified Residential or Certified General Appraiser will act as your supervisory appraiser
- Pass a criminal background check
- Apply for your Trainee Appraiser license with the state board
What does a Minnesota real estate appraiser do?
A real estate appraiser determines the fair market value of a property. Usually a lender will request this information for a potential buyer or for a homeowner seeking to refinance their mortgage, though appraisers are also needed to provide valuations for estate planning, a divorce settlement, or a tax assessment.
An appraiser completes a valuation by performing a comprehensive assessment of the property, observing the condition of the interior and exterior, noting amenities, lot size, property square footage, and other property-specific details. However, the on-site portion is just a part of the project. An appraiser also conducts research into the current real estate market and looks at comparable properties in the area to offer a clear, informed opinion on the value. Once they have their on-site assessment and off-site research complete, they’ll use the information to draft their appraisal report.
Minnesota Trainee Appraiser (81 hours) – AQB recommended course order
- Basic Appraisal Principles – 30 hours
- Basic Appraisal Procedures – 30 hours
- National USPAP Course or Equivalent – 15 hours
- Minnesota Supervisor/Trainee Appraiser Course – 6 hours
Online Info
75 QE Hours.
15-hr Nat’l USPAP Update or Equivalent.
Basic Appraisal Principles – 30 hrs.
Basic Appraisal Procedures – 30 hrs.
2015 AQB Supervisor/Trainee Course Requirement: Both the Trainee Appraiser and Supervisory Appraiser shall be required to complete a course that, at minimum, complies with the specifications for course content established by the AQB. The course must be completed by the Trainee Appraiser prior to obtaining a Trainee Appraiser credential, and completed by the Supervisory Appraiser prior to supervising a Trainee Appraiser.
Experience: N/A
College Education: N/A
Online Limitations
Roster
Governing Agency
Good to know
Should I become an appraiser in Minnesota?
In addition to wondering how to become an appraiser in Minnesota, you may be on the fence to become one in the first place. However, Minnesota real estate appraisers often build successful, stable careers. Even when the real estate market is slower, with fewer home sales, appraisers still provide needed valuations for estate planning, divorce settlements, and tax assessments.
How long does it take to become an appraiser in Minnesota?
How long it takes to become an appraiser depends a lot on how quickly it takes to complete your qualifying education. To become a Trainee, you don’t need a college degree and only 81 hours of qualifying education. With McKissock’s on-demand, self-paced qualifying education, you can complete your coursework on a timeline that works best for you. We also have livestreaming courses so you can move through the information quickly while asking questions and engaging with our experienced instructors.
While you complete your education, you can start finding your supervisory appraiser. After you have completed these steps, you can start the application process and background, which often only takes a few weeks.
Helpful links and resources:
Minnesota Appraiser License: Licensed Residential
Becoming a licensed residential appraiser in Minnesota
A Licensed Residential Appraiser in Minnesota is permitted to appraise:
- Non-complex 1-4 residential units with a transactional value of less than $1 million
- Complex 1-4 residential units with a transaction value less than $400,000
- Vacant or unimproved land for which the highest and best use is for 1-4 family purposes
You’ll need an additional 75 hours of qualifying education and 1,000 hours of verified supervised experience completed in no fewer than six months. After you submit this information and your license application to the state board, you will then need to pass the National Uniformed Licensing and Certification Examination for Licensed Residential Appraisers.
Minnesota Licensed Residential Appraiser (156 hours) – AQB recommended course order
- Basic Appraisal Principles* – 30 hours
- Basic Appraisal Procedures* – 30 hours
- National USPAP Course or Equivalent* – 15 hours
- Supervisor/Trainee Course* – 6 hours
- Residential Market Analysis and Highest And Best Use – 15 hours
- Residential Appraiser Site Valuation and Cost Approach – 15 hours
- Residential Sales Comparison and Income Approaches – 30 hours
- Residential Report Writing and Case Studies – 15 hours
*Part of required qualifying education needed to become a Trainee Appraiser
Online Info
150 QE Hours.
15-hour Nat’l USPAP or Equivalent.
Basic Appraisal Principles – 30 hours.
Basic Appraisal Procedures – 30 hours.
Residential Market Analysis & Highest and Best Use – 15 hours.
Residential Appraiser Site Valuation and Cost Approach – 15 hours.
Residential Sales Comparison and Income Approaches – 30 hours.
Residential Report Writing and Case Studies – 15 hours.
Experience: 2,000 hours of acceptable appraisal experience in not less than 12 months.
College Education: Must have an Associate Degree or higher. In lieu of the required degree, Thirty (30) semester credit hours covering specific subject matter courses may be used.
Online Limitations
Roster
Governing Agency
Good to know:
Once I have my Minnesota appraiser license, then what?
Once you have your license, whether you are a Licensed Residential, Certified Residential, or Certified General Appraiser, you need to renew it every two years. To do this, you must complete 30 hours of Continuing Education, including a 7-hour National USPAP Update Course within each two-year renewal period.
How much do appraisers make in Minnesota?
The average salary range for a residential appraiser in Minnesota is between $52,521 and $71,2991. However, an appraiser’s income is dependent on a variety of factors, including:
- License level: Trainee Appraisers, Licensed Residential Appraisers, Certified Residential Appraisers, and Certified General Appraisers all have different average salaries, increasing with higher licensing levels.
- Location: Appraisers in the Minneapolis metro will likely have a higher income than appraisers in rural or lower cost-of-living areas in the state.
- Experience: Even with the same license level, an appraiser who has been on the job longer tends to make more than one just starting out as the experienced appraiser may have more connections and has had time to build their business.
- Self-employment or working more closely with appraisal management companies (AMCs)
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Minnesota Appraiser License: Certified Residential
Minnesota appraiser credential: Certified Residential
A Certified Residential Appraiser in Minnesota is permitted to appraise 1-4 unit residential properties without regard to transaction value or complexity as well as vacant or unimproved land for which the highest and best use is for 1-4 family purposes. This opens the door to appraising more complex luxury homes and historic homes.
To become a Certified Residential Appraiser in Minnesota, you will need to:
Step 1: Complete 206 total hours of Qualifying Education (this includes what you earned to become a Trainee and/or a Licensed Residential Appraiser)
Step 2: Provide verification of 1,500 hours of experience in no fewer than 12 months
Step 3: Fulfill one of the following college education options (unlike Trainee or Licensed Residential Appraiser), unless you have held a Licensed Residential credential for five years or more:
- Bachelor’s degree from an accredited college or university
- Associate’s degree from an accredited college or university
- 30 semester hours that include:
- English composition
- Microeconomics and macroeconomics
- Finance
- Algebra, geometry, or higher math
- Statistics
- Computer science
- Business law or real estate law
- Six hours of electives in any of the above topics or accounting, geography, agricultural economics, business management, or real estate
- 30 semester hours of College Level Examination Program (CLEP) in the courses listed above
- Any combination of CLEP and college courses in the list above
Step 4: Submit your application for Certified Residential Apprasier
Step 5: Pass the National Uniformed Licensing and Certification Examination for Certified Residential Appraisers
Minnesota Certified Residential Appraiser (206 hours) – AQB recommended course order
- Basic Appraisal Principles* – 30 hours
- Basic Appraisal Procedures* – 30 hours
- National USPAP Course or Equivalent* – 15 hours
- Supervisor/Trainee Course* – 6 hours
- Residential Market Analysis and Highest and Best Use** – 15 hours
- Residential Appraiser Site Valuation and Cost Approach** – 15 hours
- Residential Sales Comparison and Income Approaches** – 30 hours
- Residential Report Writing and Case Studies** – 15 hours
- Statistics, Modeling or Finance – 15 hours
- Advanced Residential Applications and Case Studies 15 hours
- Appraisal Subject Matter Electives 20 hours
*Required courses to become a Trainee Appraiser
** Required courses to become a Licensed Residential Appraiser
Online Info
200 QE Hours.
15-hour Nat’l USPAP or Equivalent.
Basic Appraisal Principles – 30 hours.
Basic Appraisal Procedures – 30 hours.
Residential Market Analysis & Highest and Best Use – 15 hours.
Residential Appraiser Site Valuation and Cost Approach – 15 hours.
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 – 20 hours.
Experience: 2,500 hours of acceptable appraisal experience in not less than 24 months.
College Education: Must have a Bachelor’s degree or higher.
Online Limitations
Roster
Governing Agency
Good To Know
Why become a Certified Residential Appraiser in Minnesota?
Earning the Certified Residential credential allows you to appraise all residential properties, including single family homes, duplexes, and triplexes of any value. You can broaden your practice to include luxury properties, rural properties, and multi-family properties below four units.
Minnesota Appraiser License: Certified General
Certified General Appraisers in Minnesota are permitted to appraise all types of property, including residential, multi-family, vacant land, and commercial property. To become Certified General, you need:
- Total of 306 hours of qualifying education
- 3,000 hours of verified experience, 1,500 hours of which must be non-residential property
- Bachelor’s degree or higher from an accredited college or university
After you submit your license application, you must pass the National Uniform Licensing and Certification Examination for Certified General Appraisers within 24 months.
Minnesota Certified General Appraiser (306 hours) – AQB recommended course order
- Basic Appraisal Principles* – 30 hours
- Basic Appraisal Procedures* – 30 hours
- National USPAP Course* – 15 hour
- Supervisor/Trainee Course* – 6 hours
- General Appraiser Market Analysis and Highest and Best Use – 30 hours
- Statistics, Modeling and Finance – 15 hours
- General Appraiser Site Valuation and Cost Approach – 30 hours
- General Appraiser Sales Comparison Approach – 30 hours
- General Appraiser Income Approach – 60 hours
- General Appraiser Report Writing and Case Studies – 30 hours
- Appraisal Subject Matter Electives – 30 hours
Online Info
300 QE Hours.
15-hour Nat’l USPAP or Equivalent.
Basic Appraisal Principles – 30 hours.
Basic Appraisal Procedures – 30 hours.
General Appraiser Market Analysis & Highest and Best Use – 30 hours.
General Appraiser Site Valuation and Cost Approach – 30 hours.
General Appraiser Sales Comparison Approach – 30 hours.
General Appraiser Report Writing and Case Studies – 30 hours.
Statistics, Modeling and Finance – 15 hours.
General Appraiser Income Approach – 60 hours.
Appraisal Subject Matter Electives – 30 hours.
Experience: 3,000 hours of acceptable appraisal experience in no less than 30 months. A minimum of 1,500 hours of the required experience must be in non-residential appraisal work.
College Education: Must have a Bachelor’s degree or higher.
Online Limitations
Roster
Governing Agency
Good To Know
Why become a Certified General Appraiser?
Certified General Appraisers have no limits on their credential, so they can appraise all types of properties. Again, the more types of property you can appraise, the larger you can grow your business and the higher your earning potential. In fact, Certified General Appraisers in Minnesota have an average income around $117,071. Again, there are a variety of factors that determine salary, so it’s important to consider that.
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