The state-certified residential real estate appraiser
classification applies to appraisals of all types of residential property of
one to four units without regard to transaction value or complexity and
nonresidential property having a transaction value less than $250,000.
(1) As a prerequisite to taking the
examination for certification as a state-certified residential real estate
appraiser, an applicant shall present evidence satisfactory to the director
that he/she has successfully completed not less than 200 hours in the following
core modules:
(a) Basic appraisal principles,
30 hours.
(b) Basic appraisal
procedures, 30 hours.
(c) The
National USPAP course or equivalent, 15 hours.
(d) Residential market analysis and highest
and best use, 15 hours.
(e)
Residential appraiser site valuation and cost approach, 15 hours.
(f) Residential sales comparison and income
approaches, 30 hours.
(g)
Residential appraiser report writing and case studies, 15 hours.
(h) Statistics, modeling and finance, 15
hours.
(i) Advanced residential
applications and case studies, 15 hours.
(j) Appraisal subject matter electives, 20
hours.
(2) Credit
towards qualifying education requirements may be obtained via the completion of
a degree program in real estate from an accredited degree-granting college or
university provided the college or university has had its curriculum reviewed
and approved by the appraiser qualifications board.
(3) An original certification as a
state-certified residential real estate appraiser shall not be issued to any
person who does not possess 1,500 hours of appraisal experience obtained
continuously over a period of not less than 12 months in Washington or in
another state having comparable certification requirements.
(4) Applicants for the certified residential
appraiser license must satisfy one of the following college education
requirement options:
(a) Possess a bachelor's
degree or higher in any field of study; or
(b) Possess an associate's degree in a field
of study related to business administration, accounting, finance, economics, or
real estate; or
(c) Successful
completion of 30 semester hours of college level courses in all of the
following subject matter areas:
(i) English
composition, three hours; and
(ii)
Microeconomics, three hours; and
(iii) Macroeconomics, three hours;
and
(iv) Finance, three hours;
and
(v) Algebra, geometry, or
higher mathematics, three hours; and
(vi) Statistics, three hours; and
(vii) Business or real estate law, three
hours; and
(viii) Computer science,
three hours; and
(ix) Two elective
courses in: Accounting, geography, agricultural economics, business management,
or real estate, three hours each.
(d) Successful completion of at least 30
semester hours of college level examination program (CLEP) examinations in all
of the following subject matter areas:
(i)
College algebra, three hours; and
(ii) College composition, six hours;
and
(iii) College composition
modular, three hours; and
(iv)
College mathematics, six hours; and
(v) Principles of macroeconomics, three
hours; and
(vi) Principles of
microeconomics, three hours; and
(vii) Introductory business law, three hours;
and
(viii) Information systems,
three hours.
(e) Any 30
semester credit hour combination of (c) and (d) of this subsection that
includes at least one course or CLEP exam in each of the following subject
matter areas:
(i) Composition; and
(ii) Microeconomics; and
(iii) Macroeconomics; and
(iv) Business law; and
(v) Algebra, geometry or higher
mathematics.
(f) No
college level education is required to apply for state-certified residential
real estate appraiser license for an appraiser that has held a state-licensed
real estate appraiser license for a minimum of five years, and satisfies all of
the following requirements:
(i) No record of
any adverse, final and nonappealable disciplinary action affecting the
state-licensed real estate appraiser's legal eligibility to engage in appraisal
practice within five years immediately preceding the date of application for a
state-certified residential real estate appraiser license; and
(ii) Successful completion of the following
core qualifying education modules:
(A)
Statistics, modeling, and finance, 15 hours; and
(B) Advanced residential applications and
case studies, 15 hours; and
(C)
Appraisal subject matter electives, 20 hours; and
(iii) Successful completion of the required
experience as specified in subsection (3) of this section; and
(iv) Successful completion of the certified
residential real property appraiser examination as specified in these
rules.
Notes
Wash. Admin. Code
§
308-125-040
Amended by
WSR
16-02-008, Filed 12/28/2015, effective
1/28/2016
Amended by
WSR
18-24-113, Filed 12/4/2018, effective
1/4/2019
Amended by
WSR
24-03-043, Filed 1/9/2024, effective
2/9/2024
Statutory Authority:
RCW
18.140.030(1), (7), (8), and
(15). WSR 06-06-069, § 308-125-040, filed
2/28/06, effective 4/1/06. Statutory Authority:
RCW
18.140.030(1). WSR
97-02-004, § 308-125-040, filed 12/20/96, effective 1/20/97; WSR 94-01-002, §
308-125-040, filed 12/1/93, effective 1/1/94; WSR 93-17-020, § 308-125-040,
filed 8/10/93, effective 9/10/93. Statutory Authority:
RCW
18.140.030. WSR 91-23-007, § 308-125-040,
filed 11/7/91, effective 12/8/91; WSR 91-04-074, § 308-125-040, filed 2/5/91,
effective 3/8/91.
