Real estate appraisers provide assessment of property to establish value. According to the U.S. Bureau of Labor Statistics, the median annual salary of appraisers was $47,370 as of May 2008. Real estate appraisers must be fully licensed to provide appraisal services. In the state of Ohio, appraiser licensing is governed by the Ohio Department of Commerce.
Obtain a bachelor's degree. Although a degree is not needed to get started working as an appraiser, it will be needed later in your career in order to advance to higher levels of certification and maximize your career options. In the state of Ohio, there are three levels of certification for appraisers. Licensed residential appraisers need no formal education, but certified residential appraisers need an associate degree, and certified general appraisers need a bachelor's degree. Majoring in business or finance can provide you with the necessary foundation for your career in real estate appraisal. Hondros College in Westerville is one of the colleges in Ohio offering specialty courses in real estate appraisal as part of a college degree program.
Complete the required appraiser education courses needed to register as an appraiser's assistant. In the state of Ohio, candidates to become licensed appraisers must complete a total of 30 hours of classroom work in basic appraisal principles, 30 hours in procedures, a fair housing course and 15 hours of Uniform Standards of Professional Appraisal Practice (USPAP). Aside from the courses offered at Hondros College, courses can be taken at the Appraisal Institute, which offers courses in Independence, and the American Society of Farm Managers and Rural Appraisers.
Seek employment as a trainee with a licensed appraiser. There are numerous appraisers and appraisal companies throughout the state of Ohio. You will need to obtain 2,000 hours of experience in order to obtain your license. Once you have met the experience requirement, you must complete the licensing requirement within 24 months. Appraisers located in Ohio include the Appraisal Group, Inc., Samuel D. Koon & Associates, Kohr Royer Griffith Inc. and Robert Weiler Co. in Columbus. Others include Ohio Real Estate Consultants in Dublin, Papin Appraisal Inc. in Cincinnati and Cuyahoga Real Estate Appraisal in Cleveland.
Complete your licensing education. In addition to your 2,000 hours of experience, you must complete several different coursework requirements. You must take 15 hours of residential report writing and case studies; another 15 hours in highest and best use appraisal and market analysis; 30 hours in residential income and sales comparison; and 15 hours in the site valuation and cost approach to appraisal.
Submit your application to the Ohio Department of Commerce. Your application can be obtained online by simply printing it off and mailing it in. As of 2011, you must submit your application along with a fee of $150. You must also submit your fingerprints for a background check within 30 days of submitting your application. Your application along with the required supporting documentation will be reviewed by the state, which will then notify you once you have been approved for your license.
2016 Salary Information for Appraisers and Assessors of Real Estate
Appraisers and assessors of real estate earned a median annual salary of $51,850 in 2016, according to the U.S. Bureau of Labor Statistics. On the low end, appraisers and assessors of real estate earned a 25th percentile salary of $37,490, meaning 75 percent earned more than this amount. The 75th percentile salary is $73,080, meaning 25 percent earn more. In 2016, 80,800 people were employed in the U.S. as appraisers and assessors of real estate.
- Bureau of Labor Statistics: Appraisers and Assessors of Real Estate
- Ohio Department of Commerce: Education & Experience Requirements for Appraisers
- U.S. Bureau of Labor Statistics: Occupational Outlook Handbook: Appraisers and Assessors of Real Estate
- Career Trend: Appraisers and Assessors of Real Estate
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