The Louisiana real estate market has seen more than its fair share of hard times. Between natural disaster and the national mortgage crisis, the New Orleans real estate market is battling back with fourth quarter 2010 median sales prices up 3.3% over 2009, and up more than 10% from the previous quarter. This is great news for real estate agents and brokers, but another real estate career that offers a tremendous level of opportunity in the coming years is that of a Louisiana real estate appraiser. If you have always wanted to start a career in real estate, but do not want to be in real estate sales, then getting your Louisiana real estate appraiser license may be just the answer.
Determining a property value accurately is crucial in today’s real estate market. Whether it is for homes damaged by disaster, foreclosures, or any other type of real estate transaction, or loan involving real estate, the services of a professional with a Louisiana real estate appraiser license will be required. New regulations’ for appraisals since the housing crisis have evened out the field for new and more experienced appraisers. Since all Louisiana real estate appraisers will be required to be educated according to the most up to date rules and regulations, you can begin your career at the same level as appraisers with years of experience.
The first step in a Louisiana real estate appraiser career is a Real Estate Appraiser Trainee. To get started, you must complete 75 hours of Louisiana real estate appraiser courses, including the 15-hour USPAP course. There are no experience or college level requirements to start your career as a Louisiana Real Estate Appraiser Trainee and there is no exam required.
Once you have achieved 2500 hours of experience over a period of at least two years and completed 200 hours of appraiser education, including the 15-hour USPAP, you will be eligible to take the Certified Residential Real Estate Appraiser license exam. Additionally, this license has college level requirements of either an Associate’s Degree or a minimum of 21 semester units in the topics of English Composition, Micro or Macro Economics, Finance, Statistics, Algebra, Geometry or higher math course, Business Law, Real Estate Law, or Introduction to Computers. A minimum passing score of 75% is required to become a Louisiana Certified Real Estate Residential Appraiser.
The Louisiana Certified General Real Estate Appraiser license requires you to complete 300 hours of real estate appraiser training, including the 15-hour USPAP course, and 3000 hours of experience over a three-year period. The college level requirements for a Louisiana Certified General Real Estate Appraiser license are a Bachelors Degree or higher, or 30 semester hours of courses in any of the subjects required for a Certified Residential Real Estate Appraiser license and your choice of two elective courses in Accounting, Geography, Agricultural Economics, Business Management or Real Estate. Again, a score of at least 75% is required to become a Certified General Real Estate Appraiser.
If you are looking for a new career opportunity with unlimited potential, get your Louisiana real estate appraiser license.
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