FOR THE BROKER & APPRAISER CANDIDATE (Broker Credit, Appraiser Certification or Appraiser Continuing Education,
Continuing Education Electives for Salesperson or Broker)
BROKER CANDIDATE
Please be aware that in
accumulating credits for your broker's license, 2 of the required 16
credits shall be in a commission approved real estate office management course and 2 of the required 16 credits shall be in a commission approved law course. At least 6 of the remaining 12 credits shall be in 3 or more of commission developed courses in the following areas of study:
Real Estate Finance
Real Estate Investment
Real Estate Property Management
Real Estate Sales
Real Estate Construction
Valuation of Residential Property
Valuation of Income-Producing Property
* * * A maximum of 4 credits will be allowed for each course and/or area of real estate study. * * *
APPRAISER CANDIDATE
(1) To become a
certified residential appraiser in Pennsylvania, a candidate must complete 200 hours of appraisal education; to become a certified general appraiser, a candidate must complete 300 hours of appraisal education. Forty-five hours must be completed before any appraisal experience can be accrued. These 45 hours for the certified residential appraiser candidate must include 15 hours of Standards of Practice and 30 hours of an appraisal course with particular emphasis on the appraisal of one to four unit residential properties; for the certified general appraiser candidate, 15 hours of Standards of Practice and 30 hours of an appraisal course with particular emphasis on residential or non-residential properties.
In addition to a change in the number of hours of education required the Appraisal Foundation has mandated a core curriculum for each category of appraiser and college level course requirements as follows: for the certified residential appraiser, an associate degree or higher or 21 semester credit hours covering specific courses; for the certified general appraiser, a bachelor's degree or higher or 30 semester credit hours covering specific courses.
(2) In addition, a residential candidate must accrue 2,500 hours of documented appraisal experience in a minimum of two years; a general candidate must accrue 3,000 hours of documented appraisal experience in a minimum of two years. This experience must be supervised by a certified appraiser.
(3) Candidates must be approved for and successfully complete the State Certification Exam.
(4) Continuing education requirement for appraisers is 28 hours for the biennium which must include the 7-Hour National USPAP update course and at least two hours on the Real Estate Appraisers Certification Act and the Board's regulations and policies.
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| *Advanced Residential Applications And Case Studies
This course is intended to elevate the student's knowledge of challenging residential appraisal assignments and to develop the expertise to recognize and address those situations at the certified residential level. The focus is on complex properties that include valuing unique and high-end residential dwellings.
(15 Hours - 1 Credit) *Also can be used towards Appraiser Certification AND Appraiser Continuing Education.
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| *Basic Appraisal Principles
This course includes an introduction into the appraisal process, real property concepts and characteristics, legal considerations inlcuding the various forms of property ownership, the three approaches to value and highest and best use.
(30 Hours - 2 Credits) *Also can be used towards Appraiser Certification.
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| *Basic Appraisal Procedures
This course includes identifying the appraisal process, the process within the competency rule, understanding the process of scope of work, the process of market analysis, highest and best use, the approaches to value and the process of reconciliation.
(30 Hours - 2 Credits) *Also can be used towards Appraiser Certification.
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| *General Appraiser Site Valuation And Cost Approach
This course includes a discussion of value, appraisal principles and the appraisal process along with the Bundle of Rights. It also covers the following methods: Sales Comparison, Allocation, Extraction or Abstraction, Subdivision Development, Ground Rent Capitalization, Land Residual. In addition, methods of cost analysis and depreciation are also addressed. The course concludes with case studies.
(30 Hours - 2 Credits) *Also can be used towards Appraiser Certification AND Appraiser Continuing Education.
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| *National Uniform Standards Of Professional Appraisal Practice
This course covers USPAP from origin to present status and the impact on Pennsylvania state law. Students will practice researching USPAP to answer classroom case study questions.
(15 Hours - 1 Credit) *Also can be used for Appraiser Certification. **Cannot be used for Appraiser Continuing Education.
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| *Residential Construction I - Exterior Considerations
This course is presented to familiarize participants with construction laws and the exterior considerations of residential construction. Topics covered are zoning, building codes, site selection, foundations, house styles and types, exterior finishes, windows, doors, garage.
(15 Hours - 1 Credit) **Also can be used towards Appraiser Certification AND Appraiser Continuing Education.
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| *Residential Construction II - Interior Considerations
This course is presented to familiarize participants with the interior considerations of residential construction. Topics covered are interior design, framing, plumbing, heating and air-conditioning, electrical systems, insulation, finish flooring and interior trim, site finishing, manufactured housing and financing and marketing new construction.
(15 Hours - 1 Credit) **Also can be used towards Appraiser Certification AND Appraiser Continuing Education.
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| *Residential Market Analysis And Highest And Best Use
This course is focused on market analysis and highest and best use with consideration for the appraisal process and the process of scope of work and how these processes are interrelated.
(15 Hours - 1 Credit) *Also can be used towards Appraiser Certification AND Appraiser Continuing Education.
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| *Residential Report Writing And Case Studies
This course covers the appraisal process and reporting; the fundamentals of argumentation; effective communication; writing, grammar, composition and essay. It also addresses the Uniform Residential Appraisal Report (URAR) and other report forms.
(15 Hours - 1 Credit) *Also can be used towards Appraiser Certification AND Appraiser Continuing Education.
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| *Residential Sales Comparison And Income Approaches
This course focuses on sales comparison and income approaches to value with consideration for the appraisal process and the principles as they apply to real estate markets. It also covers the processes of scope of work, data collection and analysis and highest and best use.
(30 Hours - 2 Credits) *Also can be used towards Appraiser Certification AND Appraiser Continuing Education.
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| *Residential Site Valuation & Cost Approach
This course covers the six land or site valuation techniques; explains the sequence of adjustments and distinguishes between percentage and lump sum adjustments. It also identifies the steps involved with the cost approach and explains the process. There is also a review of appraisal math and statistics.
(15 Hours - 1 Credit) *Also can be used towards Appraiser Certification AND Appraiser Continuing Education.
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| *Statistics, Modeling And Finance
This course covers Basic Concepts of Statistics; graphical representation; correlation and regression analysis; models; automated valuation models; appraisal as applied economics and finance.
(15 Hours - 1 Credit) *Also can be used towards Appraiser Certification AND Appraiser Continuing Education.
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 The Institute of Real Estate Studies
1521 Cedar Cliff Drive Camp Hill, PA 17011 Phone - (717) 975-8825 or Toll Free: 1-(877)-290-3711 FAX (717) 730-0225
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