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The Arkansas Appraiser Licensing and Certification Board is responsible for the licensing and regulating of all Arkansas real estate appraisers. In compliance with Title XI of the Federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), the respective Board was created in 1991. Act 541 "The Arkansas Appraiser Licensing and Certification Act" was in fact the instrument that set in motion the mechanics for Arkansas to qualify, test, and issue licenses to Arkansas real estate appraisers.
The mission statement of the Arkansas Real Estate Appraiser Board is to "maintain a system of licensing and regulating real estate appraisers that is in compliance with federal guidelines and results in license holders that have verified adequate education, experience, and have demonstrated a competency to provide quality service consistent with their specific credentials."
In 1993, the General Assembly approved Act 1270, which clarifies certain provisions of the initial Act and limited financial institutions liability on non-federally related transactions.
The Arkansas Real Estate Appraiser Board consists of eleven members who are appointed by the governor, seven of whom are practicing appraisers. Primary duties include:
- To establish, maintain, and periodically update meaningful qualification standards for state licensing and certified appraisers practicing in Arkansas.
- In respect to a prospective Arkansas real estate appraiser, to test, review work experience, and review educational backgrounds.
- Must maintain a roster of the names, addresses, and phone numbers of licensed and certified appraisers under Act 541 to submit to the Appraisal Subcommittee.
- Promulgate rules and regulations for handling disciplinary proceedings.
- Establish administrative procedures for the setting and collection of fees necessary for the operation of the Board.
Arkansas has 75 counties.
|
Arkansas |
Ashley |
Baxter |
Benton |
| Boone |
Bradley |
Calhoun |
Carroll |
| Chicot |
Clark |
Clay |
Cleburne |
| Cleveland |
Columbia |
Conway |
Craighead |
| Crawford |
Crittenden |
Cross |
Dallas |
| Desha |
Drew |
Faulkner |
Franklin |
| Fulton |
Garland |
Grant |
Greene |
| Hempstead |
Hot
Spring |
Howard |
Independence |
| Izard |
Jackson |
Jefferson |
Johnson |
| Lafayette |
Lawrence |
Lee |
Lincoln |
| Little
River |
Logan |
Lonoke |
Madison |
| Marion |
Miller |
Mississippi |
Monroe |
| Montgomery |
Nevada |
Newton |
Ouachita |
| Perry |
Phillips |
Pike |
Poinsett |
| Polk |
Pope |
Prairie |
Pulaski |
| Randolph |
Saline |
Scott |
Searcy |
| Sebastian |
Sevier |
Sharp |
St.
Francis |
| Stone |
Union |
Van
Buren |
Washington |
| White |
Woodruff |
Yell |
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There are three classifications of Arkansas real estate appraisers.
- Certified General Real Estate Appraiser
- Certified Residential Real Estate Appraiser
- Licensed Real Estate Appraiser
Please read the following for a summarization of each.
1. Certified General Real Estate Appraiser
- Has no transaction limits.
- Has no complexity restrictions.
- May appraise all types of real property.
- Must have completed 300 qualifying appraisal education hours.
- At least 15 of the 300 educational hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
- At least a bachelors degree, or higher, or 30 semester hours in specific courses, to include English, economics, and finance.
- Must have 3,000 hours of appraisal experience in not less than 30 months, to include 1,500 hours in nonresidential appraisals.
- Required to participate in a personal competency assessment interview, regarding work experience, prior to taking examination.
2. Certified Residential Real Estate Appraiser
- May appraise one to four residential units without regard to transaction value or complexity.
- Must have 200 qualifying appraisal education hours.
- At least 15 of the 300 educational hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
- At least an associate degree, or higher, or 21 semester hours in specific courses, to include English, statistics, and law.
- Must have 2,500 hours of appraisal experience in not less than 24 months.
- Is also required to participate in a personal competency assessment interview, regarding work experience, prior to taking examination.
3. Licensed Real Estate Appraiser
- May appraise noncomplex one to four residential units having a value of less than $1,000,000.
- May appraiser complex one to four residential units having a value of less than $250,000.
- Must have 150 qualifying appraisal education hours.
- At least 15 of the 300 educational hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
- No post-secondary education required for State License.
- Must have 2,000 hours of appraisal experience in not less than one year.
A State Registered Trainee Appraiser is an individual engaged in the practice of real estate appraisal who is being taught to become a state licensed or certified appraiser under the direct supervision of a supervising appraiser. If you wish to become an Arkansas real estate appraiser, first you must locate a Certified Residential Appraiser to work under. Then, an application packet must be returned with appropriate fees to the Board.
- May perform appraisals on any type of property except when the purpose of the appraisal is for use in federal related transactions.
- Must include in all appraisal reports a statement that the appraisal may not be eligible for use in federally related transactions.
All appraisal work must be in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP).
If you would like to find a job as a Arkansas Real Estate Appraiser, click here.
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The Appraisal Process -
Overview of the on-site inspection, report generation, and respective guidelines. |
