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The Alaska Real Estate Appraiser Board is responsible for adopting the regulations that carry out the laws governing real estate appraisal practice. Specifically, statutes AS 08.87 and regulations 12 AAC 70 govern all Alaska real estate appraiser practice. The board makes decisions concerning disciplinary actions in respect to individuals who violate the certification laws.
In addition to the powers and duties conferred on the Alaska Real Estate Appraiser Board by respective statutes, responsibilities include:
- Establishes the examination specifications for certification as a general real estate appraiser, residential real estate appraiser, and institutional real estate appraiser.
- Adopts rules of professional conduct to establish and maintain a high standard of integrity in the real estate appraisal profession.
- Adopts regulations as necessary to carry out purposes of respective chapter 87, including regulations necessary to comply with the requirements of the Financial Institutions Reform, Recovery and Enforcement Act of 1989.
Staffed by the Division of Corporations, Business, and Professional Licensing, the Alaska Real Estate Appraiser Board includes:
- One general real estate appraiser
- One residential real estate appraiser
- One mortgage banking executive
- One public member
- One at-large member
Board members are appointed by the governor and confirmed by the legislature.
Alaska has 16 Boroughs and 11 Unorganized Boroughs. They are:
| Aleutians
East Borough |
Aleutians
West |
Anchorage
Borough |
Bethel |
| Bristol
Bay Borough |
Denali
Borough |
Dillingham |
Fairbanks
North Star Borough |
| Haines
Borough |
Juneau
Borough |
Kenai
Peninsula Borough |
Ketchikan
Gateway Borough |
| Kodiak
Island Borough |
Lake
and Peninsula Borough |
Matanuska-Susitna
Borough |
Nome |
| North
Slope Borough |
Northwest
Arctic Borough |
Prince
of Wales-Outer Ketchikan |
Sitka
Borough |
| Skagway-Hoonah-Angoon |
Southeast
Fairbanks |
Valdez-Cordova |
Wade
Hampton |
| Wrangell-Petersburg |
Yakutat
City and Borough |
Yukon-Koyukuk |
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There are three forms of Alaska real estate appraiser certificationon. They are:
- General Real Estate Appraiser
- Residential Real Estate Appraiser
- Institutional Real Estate Appraiser
Please read the following for a summarization of each.
1. General Real Estate Appraiser
- A minimum of 3,000 hours of appraisal work.
- A minimum of 30 months prior experience.
- At least 1,500 of appraisal work must be non-residential.
- At least 300 classroom hours of instruction.
- At least a bachelor's degree or 30 semester credit hours in specific courses, including English, economics, and finance.
2. Residential Real Estate Appraiser
- A minimum of 2,500 hours of appraisal work.
- A minimum of 24 months prior experience.
- May not receive credit for more than 1,250 hours of experience in real property appraisal in a 12-month period.
- Residential property is one to four residential units.
- A minimum of 200 classroom hours of instruction.
- At least an associate degree or 21 semester credit hours in specific courses, including English, statistics, and law.
3. Institutional Real Estate Appraiser
- Meets the educational and testing requirements of 12 U.S.C. 3331--3351 as implemented by the board.
- Full time employee of a financial institution with offices in the state.
- May only perform an appraisal as an employee of a financial institution.
- May only perform an appraisal for the financial institutions own portfolio.
- Commercial property with a transaction value of less than $250,000.
- Residential property of four or fewer units having a transaction value of less than $1,000,000.
A person engaged in the practice of Alaska real estate appraisals who is employed by or under the direct supervision of a certified real estate appraiser may become a registered trainee.
- May prepare or assist in the preparation of an appraisal report issued by a certified real estate appraiser.
- Appraisal report must be signed by the respective certified real estate appraiser.
- Certified real estate appraiser must accept full responsibility for respective appraisal report.
All appraisal work must be in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP).
An Alaska real estate appraiser must retain all copies of written contracts engaging the appraiser's services for real property appraisal work and all reports and supporting data assembled and formulated by the appraiser in preparing the reports for at least three years. All respective documents must be made available to the board or department for inspection and copying upon reasonable notice to the appraiser.
If you would like to find a job as an Alaska real estate appraiser, click here.
Alaska
Real Estate Appraiser Search
The Appraisal Process -
Overview of the on-site inspection, report generation, and respective guidelines. |
