Current through Register Vol. 46, No. 12, March 20, 2024
(a)
Education requirements for New York State appraiser assistants. An applicant
must satisfactorily complete the following courses within the five year period
prior to the date of submission of an appraiser assistant application:
(1) Residential 5 (R-5) - Basic Appraisal
Principles 30 hours
(2) Residential
6 (R-6) - Basic Appraisal Procedures 30 hours
(3) USPAP or its equivalent, as further
defined in 15 hours section
1103.7
of this Part
(4) Supervisory
Appraiser/Trainee Appraiser Course 4 hours Total 79 hours
(b) Education requirements for New York State
licensed real estate appraisers.
(1) An
applicant must satisfactorily complete the following courses:
(i) Residential 5 (R-5)- Basic Appraisal
Principles 30 hours
(ii)
Residential 6 (R-6)- Basic Appraisal Procedures 30 hours
(iii) USPAP or its equivalent as further
defined in section
1103.7
of this Part 15 hours
(iv)
Residential 7 (R-7)- Residential Market Analysis and Highest and Best Use 15
hours
(v) Residential 8 (R-8)-
Residential Appraisal Site Valuation and Cost Approach 15 hours
(vi) Residential 9 (R-9)- Residential Sales
Comparison and Income Approach 30 hours
(vii) Residential 10 (R-10)- Residential
Report Writing and Case Studies 15 hours Total 150 hours
(2) In addition to the education requirements
in paragraph 1 of this subdivision, a licensed real estate appraiser applicant
must also satisfactorily complete two years of real property appraisal
experience as provided in section
160-k of the Executive Law.
(c) Education requirements for a
New York State certified residential real estate appraisers:
(1) An applicant shall satisfactorily
complete the following courses:
(i)
Residential 5 (R-5) Basic Appraisal Principles 30 hours
(ii) Residential 6 (R-6) Basic Appraisal
Procedures 30 hours
(iii) USPAP or
its equivalent, as further defined in section
1103.7
of this Part 15 hours
(iv)
Residential 7 (R-7) Residential Market Analysis and Highest and Best Use 15
hours
(v) Residential 8 (R-8)
Residential Appraisal Site Valuation and Cost Approach 15 hours
(vi) Residential 9 (R-9) Residential Sales
Comparison and Income Approach 30 hours
(vii) Residential 10 (R-10) Residential
Report Writing and Case Studies 15 hours
(viii) Statistics, Modeling and Finance (SMF)
15 hours
(ix) Residential 11 (R-11)
Advanced Residential Applications and Case Studies 15 hours
(x) Appraisal subject matter electives:
Introduction to Residential Income Properties (RE-1), Fair Housing/Fair Lending
and Environmental Issues (RE-2), or such other elective course approved by the
Department. 20 hours
Total 200 hours
(2) In addition to the aforementioned
education requirements, prospective licensees for a New York State certified
residential real estate appraiser certification shall comply with the minimum
qualifying education standards --- as established by the Appraiser
Qualifications Boards pursuant to Title XI of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989 (Title XI) in the publication
entitled: "Real Property Appraiser Qualification Criteria" (Effective May 1,
2018) (herein after "2018 AQB") for qualifications for Certified Residential
Real Property Appraisers --- appearing in Sections III.A; III.B.1., III.B.2.,
III.B.3., III.B.4., or III.B.5; or III.C, appearing on pages 19 to 20 of said
publication, which is incorporated herein by reference.
(i) Copies of the 2018 AQB may be obtained
from the publisher at the following address:
THE APPRAISAL FOUNDATION
The Madison Building
1155 15th Street NW, Suite 1111
Washington, DC 20005
Copies may also be obtained from the publishers' website at:
www.appraisalfoundation.org.
(ii)
Additional copies of the 2018 AQB may be obtained and are
available for inspection and copying at:
NYS Department of State
Division of Licensing Services
One Commerce Plaza
99 Washington Avenue
Albany, NY 12231-0001
(d) Education requirements for a New York
State certified general real estate appraisers.
(1) An applicant shall satisfactorily
complete the following courses:
(i)
Residential 5 (R-5) Basic Appraisal Principles 30 hours
(ii) Residential 6 (R-6) Basic Appraisal
Procedures 30 hours
(iii) USPAP or
its equivalent, as further defined in section
1103.7
of this Part 15 hours
(iv) General
4(G-4) General Market Analysis and Highest and Best Use 30 hours
(v) Statistics, Modeling and Finance (SMF) 15
hours
(vi) General 5 (G-5) General
Appraiser Sales Comparison Approach 30 hours
(vii) General 6 (G-6) General Appraiser Site
Valuation and Cost Approach 30 hours
(viii) General 7 (G-7) General Appraiser
Income Approach 60 hours
(ix)
General 8 (G-8) General Appraiser Report Writing and Case Studies 30
hours
(x) Fair Housing, Fair
Lending and Environmental Issues (GE-1) 15 hours
(xi) Appraisal subject matter electives:
(a) Specialty Appraisals (GE-2)
(b) Using the HP12C Financial Calculator
(GE-3); or
(c) such other elective
course approved by the Department. 15 hours
Total 300 Hours
(2) In addition to the aforementioned
education requirements, prospective licensees for a NYS certified general real
estate appraiser certification shall hold a bachelor's degree, or higher, from
an accredited college or university. The college or university must be a
degree-granting institution accredited by the Commission on Colleges, a
regional or national accreditation association, or by an accrediting agency
that is recognized by the U.S. Secretary of Education.
(3) Applicants with a college degree from a
foreign country may have their education evaluated for equivalency by one of
the following:
(i) An accredited,
degree-granting domestic college or university;
(ii) The American Association of Collegiate
Registrars and Admissions Officers (AACRAO);
(iii) A foreign degree credential evaluation
service company that is a member of the National Association of Credential
Evaluation Services (NACES);
(iv) A
foreign degree credential evaluation service company that provides equivalency
evaluation reports accepted by an accredited degree granting domestic college
or university or by a state licensing board that issues credentials in another
discipline.
(e) Course attendance requirements. To earn
credit for any appraisal course in this section, a prospective licensee must
attend 100 percent of the required instruction time.
(f) Appraisal courses completed prior to
January 1, 1991. A prospective licensee seeking credit for an appraisal course
completed prior to January 1, 1991 shall submit a written request for approval
to the Department and must show that the appraisal course substantially covered
the same subject matter, classroom hours of attendance and completed standards
as prescribed by this Part. Applications must contain an official transcript or
other documentation showing the subjects taken, the hours of instruction
devoted to each subject, the hours attended by the prospective licensee and the
date the appraisal course was completed. The application must also contain a
course description or outline from the appraisal school. The Department may
request additional supportive documentation to determine course equivalency
based on criteria approved by the NYS Board of Real Estate Appraisal.
(g) Out-of-state courses. A prospective
licensee who has taken an appraisal course in another state may apply to the
Department for approval of that course. The application for approval of the
course shall contain an original certification or transcript from the appraisal
school showing the course title, date of course completion and the number of
classroom hours attended. The Department will only consider awarding course
credit if the prospective licensee attended the course and successfully
completed a comprehensive final examination. The Department will only grant
course approval in not less than 15 hour segments.
