61J1-10.003. Certified Residential Appraiser

An applicant for certification as a residential real estate appraiser must present evidence satisfactory to the Board that the applicant meets the following minimum education, experience, and examination requirements:

(1) Satisfactory completion of at least 200 classroom hours in approved academic courses in subjects related to real estate appraisal, including the following required core curriculum that are prerequisites to taking the AQB-approved examination in subsection (5) of this rule:

(a) Basic appraisal principles (30 hours);

(b) Basic appraisal procedures (30 hours);

(c) The 15-hour National USPAP course, or its equivalent, taught by an AQB-certified USPAP instructor;

(d) Residential Market Analysis and Highest and Best Use (15 hours);

(e) Residential Appraiser Site Valuation and Cost Approach (15 hours);

(f) Residential Sales Comparison and Income Approaches (30 hours);

(g) Residential Report Writing and Case Studies (15 hours);

(h) Statistics, Modeling and Finance (15 hours);

(i) Advanced Residential Applications and Case Studies (15 hours); and

(j) Appraisal Subject Matter Electives (20 hours) which shall include six (6) hours of the Florida laws and rules.

(2) Applicants for the Certified Residential credential must also satisfy at least one of the following five options:

(a) Bachelor’s degree in any field of study from an accredited college or university

(b) An Associate’s degree, or higher, from an accredited college, junior college, community college, or university in a field of study related to:

1. Business Administration;

2. Accounting;

3. Finance;

4. Economics;

5. Real Estate.

(c) Successful completion of at least 30 semester credit hours of college-level courses including all of the following collegiate subject matter courses from an accredited college, junior college, community college, or university:

1. English Composition (3 semester hours);

2. Microeconomics (3 semester hours);

3. Macroeconomics (3 semester hours);

4. Finance (3 semester hours);

5. Algebra, Geometry, or higher mathematics (3 semester hours);

6. Statistics (3 semester hours);

7. Computer Science (3 semester hours);

8. Business or Real Estate Law (3 semester hours); and

9. Two elective courses in the following topics:

a. accounting (3 semester hours);

b. geography (3 semester hours);

c. agricultural economics (3 semester hours);

d. business management (3 semester hours);

e. real estate (3 semester hours).

(d) Successful completion of at least 30 semester hours of College Level Examination Program (CLEP) examinations from each of the following subject matter areas:

1. College Algebra (3 semester hours);

2. College Composition (6 semester hours);

3. College Composition Modular (3 semester hours);

4. College Mathematics (6 semester hours);

5. Principles of Macroeconomics (3 semester hours);

6. Principles of Microeconomics (3 semester hours);

7. Introductory Business Law (3 semester hours); and

8. Information Systems (3 semester hours).

(e) Any combination from paragraphs (2)(c) and (2)(d) above that ensures that all the courses listed in paragraph (2)(c) have been completed.

(3) As an alternative to the requirements in section (2) above, licensees who have held the Licensed Residential credential for a minimum of five (5) years may qualify for a Certified Residential credential by satisfying all of the following:

(a) No record of any adverse, final, non-appealable disciplinary action affecting the Licensed Residential appraiser’s legal eligibility to engage in appraisal practice within the five (5) years immediately preceding the date of application for a Certified Residential appraiser credential;

(b) Successful completion of the additional required qualifying education as follows:

1. Statistics, Modeling and Finance (15 hours);

2. Advanced Residential Applications and Case Studies (15 hours);

3. Appraisal Subject Matter Electives (20 hours);

(c) Successful completion of the required experience requirements as stated in section (4) below;

(d) Successful completion of the examination as stated in subsection (5) below.

(4) Experience requirements. At least 1500 hours as set forth in Rule 61J1-6.001, F.A.C.

(5) Examination. Successful completion of the AQB-approved Certified Residential Real Property Examination and the Florida laws and rules examination.

Rulemaking Authority 475.614 FS. Law Implemented 475.613, 475.615, 475.617 FS. History–New 12-27-07, Amended 3-31-09, 7-17-11, 9-8-14, 7-18-19, 2-11-20.