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The Colorado Real Estate Appraiser Board was created in response to the federal "Financial Institutions Reform, Recovery and Enforcement Act of 1989" (FIRREA). The seven-member Board of Real Estate Appraisers fall within the Division of Real Estate. Current legislature grants the Board rule making authority for matters related to the profession of Colorado real estate appraisers. All rules are made after notice and public hearing in which all interested parties may participate.
The Division of Real Estate is part of the Department of Regulatory Agencies and is responsible for budgeting, purchasing, and related management functions. The director of the Division is an administrative officer who executes the directives of the Board and is given statutory authority in all matters delegates by the Board.
The Colorado Real Estate Appraiser Board exercises its duties and authorities independently through licensing and certification requirements, as well as enforcement activities. As stated by the Colorado Real Estate Appraiser Board, any person who performs real estate appraisals for federally related loans in Colorado must be registered, licensed or certified.
The Colorado Real Estate Appraiser Board consists of seven members. Members are appointed by the Governor.
- Three appraisers
- One county assessor
- One banker with mortgage lending experience
- Two public members
Federal financial regulatory agencies (FDIC, etc.) have developed rules as to what classification of appraiser may be used for valuation of properties in "federally related transaction."
The general standards for the actual appraisal report are those of the Uniform Standards of Professional Appraisal Practice (USPAP).
The State of Colorado has 64 counties.
| Adams
|
Alamosa |
Arapahoe |
Archuleta |
| Baca |
Bent |
Boulder |
Broomfield
City |
| Chaffee |
Cheyenne |
Clear
Creek |
Conejos |
| Costilla |
Crowley |
Custer |
Delta |
| Denver
City |
Dolores |
Douglas |
Eagle |
| El
Paso |
Elbert |
Fremont |
Garfield |
| Gilpin |
Grand |
Gunnison |
Hinsdale |
| Huerfano |
Jackson |
Jefferson |
Kiowa |
| Kit
Carson |
La
Plata |
Lake |
Larimer |
| Las
Animas |
Lincoln |
Logan |
Mesa |
| Mineral |
Moffat |
Montezuma |
Montrose |
| Morgan |
Otero |
Ouray |
Park |
| Phillips |
Pitkin |
Prowers |
Pueblo |
| Rio
Blanco |
Rio
Grande |
Routt |
Saguache |
| San
Juan |
San
Miguel |
Sedgwick |
Summit |
| Teller |
Washington |
Weld |
Yuma |
There are four Colorado real estate appraiser licensure levels.
- Registered Real Estate Appraiser
- Licensed Real Estate Appraiser
- Certified Residential Real Estate Appraiser
- Certified General Real Estate Appraiser
Please read the following for a summarization of each.
1. Registered Appraiser
- Trainee level, works under supervisor.
- The scope of work is limited to properties in which the supervising appraiser is competent to appraise.
- At least 75 hours of appraisal education.
- At least 15 of the 75 educational hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
- Pass the Registered Appraiser examination.
2. Licensed Appraiser
- May appraise non-complex 1-4 unit residential properties for which the appraiser is competent.
- Must have 2,000 hours of appraisal experience.
- Must have experience in not less than 12 months.
- At least 90 hours of appraisal education.
- At least 15 of the 90 educational hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
- Pass the Licensed Appraiser examination.
- May not supervise trainee licensees.
3. Certified Residential Real Estate Appraiser
- May appraise all 1-4 unit family residential properties for which the appraiser is competent.
- Must have 2,500 hours of appraisal experience.
- Must have experience in not less than 24 months.
- At least 120 hours of appraisal education.
- At least 15 of the 120 educational hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
- Pass the Certified Residential Appraiser examination.
- May supervise three trainee licensees.
4. Certified General Real Estate Appraiser
- May appraise any type of property for which the appraiser is competent.
- Must have 3,000 hours of appraisal experience.
- Must have 1,500 hours of non-residential experience.
- Must have experience in not less than 30 months.
- At least 180 hours of appraisal education.
- At least 15 of the 180 educational hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
- Pass the Certified General Appraiser examination.
- May supervise three trainee licensees.
All appraisal work must be in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP).
Also, higher education requirements for Colorado real estate appraiser licensed and certified levels are required. In respect to the certified appraiser levels, college education is required.
If you would like to find a job as a Colorado Real Estate Appraiser, click here.
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Real Estate Appraiser Search
The Appraisal Process -
Overview of the on-site inspection, report generation, and respective guidelines. |
