Who may prepare an Appraisal Report?

In CAM Library, Insurance Appraisal by Patricia Staebler

Usually the public does not know, who
may and who may not prepare and sign an appraisal report. In Florida
we have three different appraiser ranks, all regulated by the Department
of Business and Professional Regulation (DBPR) and the Florida Real
Estate Appraisal Board (FREAB) which functions like a division of the
DBPR.

The Florida Real Estate Appraisal Board
(FREAB) is headquartered in Orlando and consists of seven members. The
FREAB administers and enforces the real estate appraiser license law,
Chapter 475, Part II, Florida Statutes. The Board is also empowered
to pass rules that enable it to implement its statutorily authorized
duties and responsibilities. These rules are contained in Chapter 61J1,
Florida Administrative Code. The statute and rules, along with Chapters
455, 215, 120, and 20, Florida Statutes, as well as the Uniform Standards
of Professional Appraisal Practice (USPAP) are available under Statutes and Rules.

The three licensed professionals who
may prepare an appraisal report are:

State-Registered Trainee Appraisers:

  • The education requirements
    include 100 classroom hours of Board-approved courses covering the topics
    required by the FREAB in subjects related to real estate appraisal.
    After registering with the DBPR the Trainee Appraiser may only work
    under the supervision of a State-Certified Appraiser (either residential
    or general). Trainees are not allowed to sign an appraisal report
    without the accompanying signature of their supervisors.

State-Certified Residential Appraisers:

  • Residential Appraisers
    can only appraise residential properties up to four units.
  • The education requirements
    include successful completion of 200 classroom hours of board-approved
    courses covering the topics required by the FREAB in subjects related
    to real estate appraisal. This must include 15 hours of the Uniform Standards of Professional Appraisal
    Practice
    (USPAP).
  • Provide proof of satisfactory
    completion of either a 2 year associates degree or higher, OR a total
    of 21 semester hours consisting of: English Composition; Principles
    of Economics, (either Macro or Micro); Finance; Algebra; Geometry or
    higher mathematics; Statistics; Computer Science; and either Business
    Law or Real Estate Law.
  • Submit a completed application,
    fingerprint card, and appropriate fee.
  • On an RE 2300 Form,
    provide evidence of 2,500 hours of real property appraisal experience
    obtained over a 24-month period in real property appraisal by furnishing
    under oath a detailed statement of the experience for each year of experience
    claimed. The experience claimed must have been acquired in no less than
    24 months. Upon request, the applicant must provide the appraisal board,
    for its examination, copies of appraisal reports to support the claim
    for experience.
  • Pass the Residential National Exam
    and Florida Supplemental Exam.

State-Certified General Appraisers:

  • General or commercial
    appraiser may appraise both, residential and commercial properties.
  • The education requirements
    include successful completion of 300 classroom hours of board-approved
    courses covering the topics required by the FREAB in subjects related
    to real estate appraisal. This must include 15 hours of the Uniform Standards of Professional Appraisal
    Practice
    (USPAP). Past courses
    may be approved by the board and substituted on an-hour-for-hour basis.
  • Provide proof of satisfactory
    completion of either a 4-year bachelors degree or higher, OR a total
    of 30 semester hours consisting of: English Composition; Micro Economics,
    Macro Economics; Finance; Algebra; Geometry or higher mathematics; Statistics;
    Computer Science; and either Business Law or Real Estate Law. Also must
    include any two or the following courses: Accounting; Geography; Agricultural
    Economics; Business Management or Real Estate
  • Submit a completed application,
    fingerprint card, and appropriate fee.
  • On an RE 2300 Form,
    provide evidence of 3,000 hours of real property appraisal experience
    obtained over a 30-month period in real property appraisal by furnishing
    under oath a detailed statement of the experience for each year of experience
    claimed. The experience claimed must have been acquired in no less than
    30 months. At least 50% (1,500 hours) of the claimed experience must
    be in commercial appraisal work. Upon request, the applicant must provide
    the appraisal board, for its examination, copies of appraisal reports
    to support the claim for experience.
  • Pass the General National Exam
    and the Florida Supplemental Exam.

For your next appraisal report, make
sure the person you hire is properly licensed; and remember, buildings
with more than four units can be appraised only by a State-Certified
General
Appraiser. If you are not sure if the person you hires is
licensed, go to the DBPR website and make a license search by clicking
on the following link: https://www.myfloridalicense.com/wl11.asp?mode=0&SID=

Patricia Staebler, SRA

State-Certified General Appraiser RZ2890

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