The Board proposes the rule promulgation in order to create the qualifications for licensure.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Florida Real Estate Appraisal Board

RULE NO: RULE TITLE
61J1-10.001: Definitions
61J1-10.002: Registered Trainee Real Estate Appraiser
61J1-10.003: Certified Residential Appraiser
61J1-10.004: Certified General Appraiser
PURPOSE AND EFFECT: The Board proposes the rule promulgation in order to create the qualifications for licensure.
SUMMARY: The rule promulgation defines the qualifications for licensure.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: 475.614 FS.
LAW IMPLEMENTED: 475.611, 475.613, 475.615, 475.617 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Thomas O’Bryant, Deputy Director, Division of Real Estate, 400 West Robinson Street, Hurston Building, North Tower, Suite N801, Orlando, Florida 32801

THE FULL TEXT OF THE PROPOSED RULE IS:

 

61J1-10.001 Definitions.

(1) “Accredited” means accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the U.S. Secretary of Education.

(2) “AQB” means Appraiser Qualifications Board, which is an independent board of the Appraisal Foundation.

(3) “Classroom hour” is defined as 50 minutes out of each 60-minute segment.

(4) “USPAP” means Uniform Standards of Professional Appraisal Practice, and are the most recent standards approved and adopted by the Appraisal Standards Board of the Appraisal Foundation.

Specific Authority 475.614 FS. Law Implemented 475.611, 475.613, 475.615, 475.617 FS. History–New_______.

 

61J1-10.002 Registered Trainee Real Estate Appraiser.

(1) An applicant for registration as a trainee real estate appraiser must present evidence satisfactory to the Board that the applicant has successfully completed at least 100 classroom hours in approved academic courses in subjects related to real estate appraisal, including the following required curriculum:

(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; and

(d) Appraisal Subject Matter Electives (20 hours) which shall include the Florida laws and rules and Roles and Responsibilities of Supervisors and Trainees.

(2) An applicant must have passed examinations in the prerequisite courses set forth in subsection 61J-10.002(1), F.A.C., for the courses to be acceptable.

(3) An applicant must have completed the 15-hour National USPAP course, or its equivalent, within the 2 years immediately preceding the receipt of the application for registration by the Board or department.

(4) An applicant who was previously registered as a trainee real estate appraiser and whose registration expired due to failure to renew pursuant to Rule 61J-4.007, F.A.C., may not use the qualifying education for the void trainee real estate appraiser registration to obtain another trainee real estate appraiser registration.

Specific Authority 475.614 FS. Law Implemented 475.613, 475.615, 475.617 FS. History–New_________.

 

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) Education requirement.

(a) An Associate degree, or higher, from an accredited college, junior college, community college, or university; or

(b) Successful passage of at least 21 semester credit hours or its equivalent, including all of the following collegiate subject matter courses from an accredited college, junior college, community college, or university:

1. English Composition;

2. Principles of Economics (Micro or Macro);

3. Finance;

4. Algebra, Geometry, or higher mathematics;

5. Statistics;

6. Computer Science; and

7. Business or Real Estate Law.

If an accredited college or university accepts the College-Level Examination Program (CLEP) examinations(s) and issues a transcript for the exam, showing its approval, it will be considered as credit for the college course.

(c) 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 (3) of this rule:

1. Basic appraisal principles (30 hours);

2. Basic appraisal procedures (30 hours);

3. The 15-hour National USPAP course, or its equivalent, taught by an AQB-certified USPAP instructor;

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

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

6. Residential Sales Comparison and Income Approaches (30 hours);

7. Residential Report Writing and Case Studies (15 hours);

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

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

10. Appraisal Subject Matter Electives (20 hours) which shall include the Florida laws and rules and the Roles and Responsibilities of Supervisors and Trainees.

(2) Experience requirements. At least 2500 hours as set forth in Rule 61J1-6.001, Florida Administrative Code.

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

Specific Authority 475.614 FS. Law Implemented 475.613, 475.615, 475.617 FS. History–New_________.

 

61J1-10.004 Certified General Appraiser.

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

(1) Education requirement.

(a) A Bachelors degree, or higher, from an accredited college or university; or

(b) Successful passage of at least 30 semester credit hours or its equivalent, including all of the following collegiate subject matter courses from an accredited college, junior college, community college, or university:

1. English Composition;

2. Micro Economics;

3. Macro Economics;

4. Finance;

5. Algebra, Geometry, or higher mathematics;

6. Statistics;

7. Computer Science;

8. Business or Real Estate Law; and

9. Two electives courses in accounting, geography, agricultural economics, business management, or real estate.

If an accredited college or university accepts the College-Level Examination Program (CLEP) examinations(s) and issues a transcript for the exam, showing its approval, it will be considered as credit for the college course.

(c) Satisfactory completion of at least 300 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 (3) of this rule:

1. Basic appraisal principles (30 hours);

2. Basic appraisal procedures (30 hours);

3. The 15-hour National USPAP course, or its equivalent, taught by an AQB certified USPAP instructor;

4. General Appraiser Market Analysis and Highest and Best Use (30 hours);

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

6. General Appraiser Sales Comparison Approach (30 hours);

7. General Appraiser Site Valuation and Cost Approach (30 hours);

8. General Appraiser Income Approach (60 hours);

9. General Appraiser Report Writing and Case Studies (30 hours); and

10. Appraisal Subject Matter Electives (30 hours) which shall include the Florida laws and rules and the Roles and Responsibilities of Supervisors and Trainees.

(2) Experience requirements. At least 3000 hours as set forth in Rule 61J1-6.001, Florida Administrative Code.

(3) Examination. Successful completion of the AQB-approved Certified General Real Property Appraiser Examination and the Florida laws and rules examination.

Specific Authority 475.614 FS. Law Implemented 475.613, 475.615, 475.617 FS. History–New__________.

NAME OF PERSON ORIGINATING PROPOSED RULE: Florida Real Estate Appraisal Board
NAME OF SUPERVISOR OR PERSON WHO APPROVED THE PROPOSED RULE: Florida Real Estate Appraisal Board
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: October 08, 2007
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: October 19, 2007