Idaho Administrative Code
Title IDAPA 24 - Occupational and Professional Licenses, Division of
Rule 24.18.01 - RULES OF THE REAL ESTATE APPRAISER BOARD
Section 24.18.01.300 - LICENSED RESIDENTIAL REAL ESTATE APPRAISER CLASSIFICATION APPRAISER QUALIFICATION CRITERIA

Universal Citation: ID Admin Code 24.18.01.300

Current through August 31, 2023

The state licensed residential real estate appraiser classification applies to the appraisal of residential real property consisting of one (1) to four (4) non-complex residential units having a transaction value less than one million dollars ($1,000,000) and complex one (1) to four (4) residential units having a transaction value less than two hundred fifty thousand dollars ($250,000). Applicants must meet the following education, experience and examination requirements in addition to complying with Section 250. Subsequent to being licensed, every licensee must annually meet the continuing education requirement. (3-28-23)

01. Education. As a prerequisite to taking the examination for licensure as an Idaho Licensed Residential Real Estate Appraiser, each applicant shall: (3-28-23)

a. Document registration as an Appraiser Trainee; and (3-28-23)

b. Document the successful completion of not less than seventy-five (75) classroom hours of courses in subjects related to real estate appraisal as follows: (3-28-23)
i. Residential Market Analysis and Highest and Best Use - not less than fifteen (15) hours; and (3-28-23)

ii. Residential Appraiser Site Valuation and Cost Approach - not less than fifteen (15) hours; and (3-28-23)

iii. Residential Sales Comparison and Income Approaches - not less than thirty (30) hours specifically including: Valuation Principles and Procedures - Sales Comparison Approach; Valuation Principles and Procedures -Income Approach; Finance and Cash Equivalency; Financial Calculator Introduction; Identification, Derivation and Measurement of Adjustments; Gross Rent Multipliers; Partial Interests; Reconciliation; and Case Studies; and (3-28-23)

iv. Residential Report Writing and Case Studies - not less than fifteen (15) hours specifically including: Writing and Reasoning Skills; Common Writing Problems; Form Reports; Report Options and USPAP Compliance; Case Studies. (3-28-23)

02. Experience. Prerequisite to sit for the examination: (3-28-23)

a. Document one thousand (1,000) hours of supervised appraisal experience as a registered Appraiser Trainee in no less than six (6) months. Experience documentation in the form of reports or file memoranda should be available to support the claim for experience. (3-28-23)

b. Of the required one thousand (1,000) hours, the applicant must accumulate a minimum of seven hundred-fifty (750) hours from field real estate appraisal experience. The balance of two hundred-fifty (250) hours may include non-field experience, refer to Subsection 250.02.d. (3-28-23)

03. Examination. Successful completion of the Licensed Residential Appraiser examination approved by the Board pursuant to the guidelines of the Appraisal Qualifications Board. (3-28-23)

Disclaimer: These regulations may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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