A professional with knowledge of the real estate market and skilled in the practice of real estate/property appraisal. When a property is appraised for the purpose of a mortgage loan, the appraiser is selected by the lender, but the appraisal fee is usually paid by the borrower.

Becoming an Appraiser

Each state has criteria that must be met to become state licensed in appraisal. Most states require work experience and educational requirements, including passing state exams. Many states allow for appraisal online course learning. Taking an online course offers the flexibility to study on your own time.

Most states require a minimum 90 hour pre-license course, followed by a proctored exam. This means that after you have completed the appraisal course, the school administrator will arrange a local proctor to arrange a test setting under that person's supervision.

These appraiser courses follow the Uniform Standards of Professional Appraisal Practices (USPAP) and their rules and guidelines. The majority of the appraiser course will teach the fundamentals of real estate appraisal and how to evaluate properties effectively and professionally.

Continuing education or CE is required after you are state licensed. Many of these courses can be delivered online. State requirements for initial training and continuing education vary.

Licensing and Regulation varies from state to state - Below is a link that identifies which agency in each state handles the governance of appraisers:

Appraisal Foundation

Bankapedia's Take 

References

"American Investment Training". 2008 <http://aitraining.com/>.