Appraiser Education Requirements
These are the minimum requirements established by the Montana Board of Real Estate Appraisers. This information is provided as a convenience only and is subject to change at any time. It's ultimately the responsibility of the licensee to be sure that he or she is meeting all requirements for each license and corresponding renewal period.
Montana Appraisal: Trainee
Both the Trainee Appraiser and Supervisory Appraiser shall be required to complete a course that, at minimum, complies with the specifications for course content established by the AQB. The course must be completed by the Trainee Appraiser prior to obtaining a Trainee Appraiser credential, and completed by the Supervisory Appraiser prior to supervising a Trainee Appraiser.
Montana Appraisal: Licensed
Qualifying Education:
150 QE Hours.
Basic Appraisal Principles - 30 hours.
Basic Appraisal Procedures - 30 hours.
15-hour Nat’l USPAP or Equivalent.
Residential Market Analysis & Highest and Best Use - 15 hours.
Residential Appraiser Site Valuation and Cost Approach - 15 hours.
Residential Sales Comparison and Income Approaches - 30 hours.
Residential Report Writing and Case Studies - 15 hours.
Experience:
1,000 hours of acceptable appraisal experience in not less than 6 months.
Montana Appraisal: Certified Residential
Qualifying Education:
200 QE Hours.
Basic Appraisal Principles - 30 hours.
Basic Appraisal Procedures - 30 hours.
15-hour Nat’l USPAP or Equivalent.
Residential Market Analysis & Highest and Best Use - 15 hours.
Residential Appraiser Site Valuation and Cost Approach - 15 hours.
Residential Sales Comparison and Income Approaches - 30 hours.
Residential Report Writing and Case Studies - 15 hours.
Statistics, Modeling, and Finance – 15 hours.
Advanced Residential Applications and Case Studies – 15 hours.
Appraisal Subject Matter Electives – 20 hours.
Experience:
1,500 hours of acceptable appraisal experience in not less than 12 months.
College Education:
1) Bachelor’s Degree in any field of study;
2) Associate’s Degree in a focused field of study, such as business, economics, or real estate;
3) Successful completion of 30 college semester credit hours in specified topics;
4) Successful completion of College-Level Examination Program (CLEP)1 exam equivalent to a minimum of 30 semester credit hours in specified subject matter areas; or
5) Any combination of #3 and #4 above that includes all of the topics identified.
6) A LICENSED RESIDENTIAL appraiser who has been licensed for a minimum of 5 years and in good standing for at least 5 years with no disciplinary actions that would affect the individual’s ability to appraise may upgrade to CERTIFIED RESIDENTIAL without completing any college coursework.
Montana Appraisal: Certified General
Qualifying Education:
300 QE Hours.
Basic Appraisal Principles - 30 hours.
Basic Appraisal Procedures - 30 hours.
15-hour Nat’l USPAP or Equivalent.
General Appraiser Market Analysis & Highest and Best Use - 30 hours.
General Appraiser Site Valuation and Cost Approach - 30 hours.
General Appraiser Sales Comparison Approach - 30 hours.
General Appraiser Report Writing and Case Studies - 30 hours.
Statistics, Modeling, and Finance – 15 hours.
General Appraiser Income Approach – 60 hours.
Appraisal Subject Matter Electives – 30 hours.
Experience: 3,000 hours of acceptable appraisal experience in no less than 18 months. A minimum of 1,500 hours of the required experience must be in non-residential appraisal work.
College Education: Must have a Bachelor’s degree or higher.