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You are considering a Career in Appraising in NY State

You are considering a Career in Appraising in NY State. The Appraisal Education Network School and Merrell Institute may be the school you are looking for. NY State has both Education and Experience for those considering a career in Appraisal. 90 hours of Education- This includes R-1 R-2

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You are considering a Career in Appraising in NY State

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  1. You are considering a Career in Appraising in NY State The Appraisal Education Network School and Merrell Institute may be the school you are looking for

  2. NY State has both Education and Experience for those considering a career in Appraisal • 90 hours of Education- This includes • R-1 • R-2 • AQ-1 • USPAP

  3. The courses are mandatory • R-1 is 30 hours plus an exam • R-2 is 30 hours plus an exam • AQ-1 is 15 hours plus an exam • USPAP is 15 hours plus an exam All students must successfully complete all 4 courses and pass each exam- this is mandatory in NY State

  4. Licensed Appraiser Assistant • The State requires the education we discussed to enter the field as a Licensed Appraiser Assistant. • There is NO state exam for assistants • There is NO experience requirement for Assistants • Assistants must possess a High School Diploma

  5. Once you are in the Field • As an Assistant, you may consider: • Becoming Fully Licensed • Becoming Certified Residential • - - - - - - • You need 24 months of experience before you consider either choice above

  6. New York State Final Exam • There is a State test for both • Certified Residential -or- • Licensed • When you became an Assistant you received an admit card for the License State Exam

  7. NY State Test- Continued • You cannot take the Certified Residential Exam unless you have successfully completed R-3 and R-4 and notified the state and requested an upgrade certificate Calling 518-474-4429 is the way to accomplish this upgrade- don’t wait- it takes weeks to receive the upgrade

  8. Experience • License- 2000 hours over 24 months • Certified Residential- 2500 hrs over 24 months • The state determines the # of hours per assignment

  9. Log of Experience as an Appraiser • You must submit a Log of your experience, which will be verified • The log must be in chronological order • Each page of the log must be signed • You must fill out a new application with al documentation to upgrade to either Certified Residential or Licensed in NYS

  10. Appraiser Continuing Education • Continuing Ed is mandatory for all levels of Licensure • 28 hours of Continuing Education BEFORE you renew or upgrade • This must include the 7 hour USPAP Upgrade course

  11. Keep Good Logs • Work files must be maintained for a minimum of 5 years • Certificates of course completed must be retained as well • Proof is required if NYS audits you. • Those who violate the law are subject to revocation, fines and or suspensions

  12. Do Good and Avoid Evil • The entire premise behind USPAP rules • The entire basis for a GOOD Appraisal • Temptation is always there for an Appraiser. Only strong, honest, credible Appraisers will be able to withstand the temptation. Money, Power, Greed!

  13. What is an Appraisal? • An opinion of value, as of a specific date, for a specific purpose, use and client which will result in a credible and defensible estimate Sounds simple but it is a real job!

  14. 1. Define the Assignment 2. Determine Data to be used 3. Analyze Data 4. Highest and Best Use 5. Site Valuation 6. Approaches- Sales, Cost and Income 7. Final Reconciliation 8. Reporting Value These are the 8 steps needed for a credible appraisal and report 8 Steps to a Valid Appraisal

  15. 1. Develop an Appraisal 2. Communicate an Appraisal 3. Review an Appraisal 4. Develop Consultation Appraisal 5. Communicate Consultation Appraisal 6. Develop/Communicate a Mass Appraisal 7. Develop a Personal Property Appraisal 8. Communicate Personal Property Appraisal 9. Develop a Business Appraisal 10. Communicate a Business Appraisal USPAP- Uniform Standards

  16. This was designed to give you a Taste of the Profession • If you are Serious of entering the Profession, you must attend courses are a reputable school. • We hope you select Us! • Appraisal Education Network School • 631-563-7720 • www.merrellinstitute.com

  17. Ready for a Career-Education is the Key! 631-563-7720 Appraisal Education Network School 1461-16 Lakeland Avenue Bohemia, NY 11716 Bill C. Merrell, Ph.D- School Director

  18. Success can’t be guaranteed… • No one can guarantee success! • Hard work is needed to achieve any meaningful level of success in a Profession! • You must determine if you are willing to succeed.

  19. Appraisal Education Network School –and- Merrell Institute 1461-16 Lakeland Avenue Bohemia, NY 11716 631-563-7720 Fax: 631-563-7719 www.merrellinstitute.com

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