FINDING EMPLOYMENT

Finding Employment as a Real Estate Appraiser

More AREI students successfully enter the real estate appraisal profession due to our step-by-step guidance and assistance. Initially, our pre-enrollment counseling will help the prospective student understand the two main reasons why individuals do not successfully enter the appraisal profession.

Secondly and immediately upon enrollment at AREI, you will begin a process of skills development insuring employability once licensed. At enrollment, each student receives one-on-one counseling related to home measurement and will receive and become familiar with industry standard sketching software. You will work with the school director and develop basic competency in home measurement. Next, you will utilize the AREI resource center to develop competency with local database systems used by appraisers. Upon course completion, you will apply learned material through a process of completing three appraisal assignments. Once completed, this process "narrows the gap" between a new licensee and a productive appraiser enabling you to obtain a position as an apprentice appraiser and begin his or her career. Dozens of existing appraisal firms throughout Colorado are owned by AREI alumni that have completed this program and successfully entered the profession. As their careers have blossomed, they often grow their firms by hiring AREI appraisal students.

More Insight...

The licensing of appraisers originates with the Savings and Loan debacle of the 1980's. Investigations disclosed that some savings institutions and other lenders had overstated appraisals thereby compounding problems with failed or non-performing loans. As a result, assets of the failed thrift institutions were liquidated by the Resolution Trust Corporation costing taxpayers billions of dollars as depositors lost funds were insured by the federal government. To avoid a repetition of these unfortunate occurrences, Representative Doug Barnard, D-Georgia, introduced what would become known as the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) of 1989.

Title 11 of FIRREA required that all appraisals for "federally related transactions" be conducted by state licensed or certified appraisers and minimum criteria for licensing and certification was established. In 1990 the State of Colorado passed appraisal regulations in compliance with the federal mandate and established the Board of Real Estate Appraisers. The Colorado statute established four categories of appraisal licensing.

While all individuals interested in entering the appraisal profession must first obtain a license (Registered Appraiser), gaining entry into the real estate appraisal industry requires a clear road map and concerted effort. Historically, those individuals desiring a career in real estate appraisal have faced unique challenges and simple completion of pre-licensing education and testing is not sufficient for successful entry into the appraisal industry.

In today's world, the Registered Appraiser may prepare the appraisal, however, the client will usually require a "Supervisory Appraiser", one who has obtained one of three higher licensing levels, to review, sign and accept full responsibility for the appraisal prepared by the Registered Appraiser. In addition, qualified experience required to attain the higher license levels requires a supervisor. It is this "forced" affiliation with a supervisory appraisal that must be considered prior to enrolling in an appraisal licensing program.

This "affiliation" with and requirement for a supervisory appraiser is of paramount concern to those interested in entering the profession. AREI provides a step-by-step process for (1) understanding the pitfalls and opportunities available to the apprentice appraiser, (2) obtaining the initial licensing, (3) development of job skills to ensure "employability", (4) obtaining a position as an appraiser, and (5) furthering the educational process as your career matures. We require a pre-enrollment discussion so that we can become familiar with your goals and ensure you clearly understand our unique process thereby ensuring successful entry into this wonderful profession!