Common Appraisal Questions
The information included in this page is designed to provide you with everything you need to know to become a licensed real estate appraiser in the state of Wisconsin. It contains the license and training requirements, examination and renewal information, and other commonly asked questions to help you get started in your new career. If you have further questions, please contact an Allied representative at (800) 617-3513.
Is Wisconsin approved to provide appraisal education?
Allied’s Wisconsin real estate appraisal program is approved by the Wisconsin Department of Regulation & Licensing to provide comprehensive appraisal training to students in the state of Wisconsin.
What are the Wisconsin license requirements?
There are three levels of Wisconsin real estate appraiser licenses:
- Licensed Appraiser
- Certified Residential License
- Certified General License
Education
You must successfully complete the specified hours of approved real estate appraisal courses for each type of license, including a course of at least 15 hours that covers the Uniform Standards of Professional Appraisal Practice (USPAP). The specified hours include:
- A minimum of 90 hours of instruction for the licensed appraiser classification covering topics indicated in Wis. Admin. Code, RL 84.04 and Chapter 458 of the Wisconsin Statutes.
- A minimum of 120 hours of instruction for the certified residential appraiser classification covering topics indicated in Wis. Admin. Code, RL 84.02.
- A minimum of 180 hours of instruction for the certified general appraiser classification covering topics indicated in Wis. Admin Code, 84.03.
Experience
- Applicants for an appraiser license shall have a minimum of 2,000 hours of appraisal experience.
- Applicants for a certified residential appraiser certificate shall have a minimum of 2,500 hours of appraisal experience in not less than 24 months.
- Applicants for a certified general appraiser certificate shall have a minimum of 3,000 hours of appraisal experience in not less than 30 months, of which no more than 50% can be residential appraisal experience.
How do I apply for the national appraisal examination?
If you want to apply for an appraisal license, you need to pass a national examination on the type of appraisal practice you would like to perform. The examinations are currently administered by Promissor for Wisconsin. Information on the examinations may be obtained on their web site. The department will send an eligibility letter giving you approval to make an appointment for the examination. Please do not contact the test provider prior to receiving approval from the department. The national examination must be completed within 24 months of submitting the application for your appraisal license.
What are the continuing education requirements for a Wisconsin appraisal license?
As a licensed appraiser, you need to complete at least 28 hours (if initially credentialed in the second year of the biennium must complete only 14 hrs) of continuing education in each biennial
renewal period. At least 7 of those hours need to include instruction in the professional standards and code of ethics applicable to appraisers.
I am licensed or certified in another state but I want to appraise property in Wisconsin. How can I become licensed in Wisconsin?
You must provide verification of your current credentials in another state and verify that you have completed the education, examination and experience required by Wisconsin, including 15 hours of approved instruction in professional standards and ethics. You must also pass the examination on Wisconsin regulations. Call for further details.
How can I get a temporary license to do an appraisal in Wisconsin?
If you hold a current appraiser certificate in another state, you may perform an appraisal in this state, if all of the following apply:
- The appraisal is performed in a federally-related transaction.
- Your practice in this state is practice of a temporary nature.
- You complete the application and pay the appropriate fee.
The term "practice of a temporary nature" is defined by the department to mean the performance of one or more appraisals by an appraiser conducted for purposes of completing a specific appraisal assignment.
How long does it take to make a determination to provide credentials?
By law, an original completed application for a credential shall be reviewed within 60 business days after having been received, but the average time for review is 30 days. An application is considered completed when all materials necessary to make a determination on the application and all requested materials have been received.
May an individual who is not a licensed or certified appraiser assist in the preparation of an appraisal?
Yes, an individual who is not a state certified or licensed appraiser may assist in the preparation of an appraisal if: 1) the assistant is under the direct supervision of a licensed or certified individual; and 2) the final appraisal document is approved and signed by an individual who is certified or licensed.
How is the term "transaction value" defined?
The term "transaction value" is defined to mean one of the following:
- For loans or other extensions of credit, the amount of the loan or extension of credit.
- For sales, leases, purchases, and investments in or exchanges of real property, the market value of the real property interest involved.
- For the pooling of loans or interests in real property for resale or purchase, the amount of the loan or market value of the real property calculated with respect to each such loan or interest in real property.
How is the term "complex 1-4 family residential property appraisal" defined?
The term "complex 1-to-4 family residential property appraisal" is defined to mean an appraisal of 1-to-4 family residential property in which the property to be appraised, the form of ownership, or market conditions are atypical.
What is the difference between the online Real Estate Appraisal course and the traditional correspondence course?
The online course adds even more convenience to a course that was already designed to be quick, easy, and comprehensive!
Our new online Real Estate Appraisal course will save you time. With online studying, you can start the course right now - instead of waiting until you receive your course via UPS. Also, your quizzes and final exam are graded instantly for you online, which increases your study speed and memory retention!
With the online course, the entire first chapter of the textbook will be here on your computer! You can start reading Chapter 1 and take the first quiz within minutes of enrolling. As soon as you sign up for the online course, we ship you the full Real Estate Appraisal course, so you may continue on to Chapter 2 whenever you are ready.
All quizzes are online, as is the final exam. With the online course, the final exam may be taken in your own home or office - a monitor is required.
What exactly does an appraiser do? What kind of jobs can an appraiser qualify for?
An appraiser inspects real property (land and/or structures) to estimate an accurate value and verify the condition of the property and its improvements. An appraiser must have in-depth knowledge of building techniques, geography, finance, and economics to arrive at a representative value of the appraised property. In order to secure a bank loan, the property must have an appraisal by a licensed appraiser.
Appraisers often work for themselves. They can also work for mortgage firms, real estate brokers, lenders, corporations, and government agencies. Anyone that wants to invest in real estate needs accurate and concise information describing the property, its condition, and its value.
Real estate appraisal is an excellent additional skill for real estate salespeople, brokers, home inspectors, or other professionals who deal in the real estate industry.
What are the differences between Residential, Certified Residential and Certified General appraiser licenses?
There are state by state variations; however, as a general rule the dollar value of the property being appraised is the primary factor that indicates what license level is required to effectively appraise it. Contact Allied for specific state information.
Why should I take a distance education course instead of a live class?
Distance education is a win-win situation. Not only do you get a quality education, but you can complete the course in a flexible, convenient and fast manner. You have all of the benefits of a live class – teacher/student interaction, relevant course material, ongoing student support – with the added benefits of learning from home.
Below is a list of just some of the differences:
| Drive to class and sit in a classroom |
vs. |
Learn from the comfort of your home |
| Learn limited amount of material in class |
vs. |
Learn as quick as you want from home |
| Take your final exam at school |
vs. |
Take your final exam online from your home or office |
| Balance work/family issues |
vs. |
Choose to learn when it’s convenient |
A live class does not let you be in charge of your education. Allied’s distance education options let you choose where, when and how to learn.
Why should I take appraisal courses from Allied?
Allied is approved by the Appraiser Qualification Board (AQB), as well as an affiliate member of the National Association of Real Estate Appraisers (NAREA). We have partnered with NAREA in order to offer our students a free one-year membership to a professional trade association. Membership to this organization offers appraisers the following great benefits:
- E & O Insurance at discounted group rates.
- Subscription to The Appraisal Times (the official newsletter of the NAREA).
- Useful appraisal supplements and guides to assist you in appraising quickly and accurately according to current standards.
- Eligibility to attend NAREA's annual trade show and conferences.
- NAREA Code of Ethics, suitable for framing.
- And much more!
The Allied family has been in education and publishing since 1979 and offers a full-time student services department with Internet, fax, and e-mail capabilities. With this assistance, along with our trained counselors, help is only a phone call away. Allied has the most up-to-date materials available, which includes software, sample tests and review materials that will help you pass the state exam on your first try!
For California students: In the state of California, the Office of Real Estate Appraisal (OREA) does not accept distance education courses unless those courses meet specific requirements. Allied's appraisal courses have been approved by OREA. and meet the minimum standards set by the national Appraiser Qualification Board (AQB).
Is NOW a good time to start my appraisal career?
ABSOLUTELY! The ever-growing real estate industry can provide an abundance of opportunities for licensed real estate appraisers.
Employment of real estate appraisers is expected to grow as levels of real estate activity increase in markets across the country. This will lead to a greater need for licensed professionals to provide accurate and reliable home appraisals.
A growing population is projected to create a greater housing need in the U.S. With a robust economy, individuals will be more likely to buy, sell, refinance or insure their homes.
Be a part of this exciting field! Now is a GREAT time to get your appraisal license!
How can I get started with Allied's Appraisal course?
Allied's Appraisal course includes all required instructional materials, supplemental reading, a workbook, clipboard and other materials. From the moment you enroll, you will have everything you need at your fingertips. Enroll online or contact a friendly Admissions Representative at (800) 617-3513 for assistance today.