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The objective of the Delaware Council on Real Estate (Title 24, Chapter 40. Real Estate Appraisers) is to protect the general public from unsafe appraisal practices and from occupational practices which tend to reduce competition. It regulates the certification and licensure of Delaware real estate appraisers. In addition, the Council issues and renews certificates and licenses of appraisers. Additional responsibilities of the Delaware real estate appraiser Council include, but are not limited to:
- Formulate rules and regulations.
- Designate the written, standardized examination, endorsed by the Appraiser Qualifications Board (AQB).
- Evaluate the credentials of all persons applying for a license or a certificate as an appraiser.
- Grant and renew certificates and licenses to all persons who meet respective qualifications.
- Issue temporary certificates or licenses to persons who qualify.
- Establish continuing education standards.
- Conduct hearings and issue orders.
The Delaware real estate appraiser Council consist of 9 members, appointed by the Governor.
- Four of shall be licensed or certified appraisers (including at least 1 certified general real property appraiser and at least 2 certified residential appraisers).
- One shall be a certified real estate appraiser also engaged in the real estate brokerage business.
- One shall be from the banking community.
- Three shall be public members, having no relations in respect to real estate appraisals and respective services.
The State of Delaware has 3 counties.
The 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.
There are currently four categories in respect to the Connecticut real estate appraiser.
- Certified General Real Estate Appraiser
- Certified Residential Real Estate Appraiser
- Licensed Real Estate Appraiser
- Appraiser Trainee
Please read the following for a summarization of each.
1. Certified General Real Estate Appraiser
- May appraise all types of real estate without regard to transaction value.
- Must have at least 300 classroom hours of appraiser study in accordance with the required core curriculum.
- At least 15 of the 300 educational hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
- Must have at least 3,000 hours of appraisal experience within no less than 30 months since the first appraisal.
- Of the 3,000 experience hours, 1,500 hours must be non-residential.
- Must have at least a bachelor's degree from an accredited college, university, or institute of higher education or 30 semester hours.
- Pass the certified general real estate appraiser examination.
2. Certified Residential Real Estate Appraiser
- May appraise vacant or unimproved land that is utilized for 1-4 family purposes or for which the highest and best use is for 1-4 family purposes.
- Must have at least 200 qualifying classroom hours of study in accordance with the required core curriculum.
- At least 15 of the 200 educational hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
- Must have at least 2,500 hours of appraisal experience within no less than 24 months since the first appraisal.
- Must have at least a associate's degree or higher from an accredited college, university, or institute of higher education or 21 semester hours in specific courses to include English, Finance, and Algebra.
- Pass the certified residential real estate appraiser examination.
3. Licensed Real Estate Appraiser
- May appraise non-complex one to four residential units with a transaction value of less than $1 million and complex one to four residential units with a transaction value of less than $250,000.
- Must have at least 150 classroom hours of appraiser study in accordance with the required core curriculum.
- At least 15 of the 150 educational hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
- Must have at least 2,000 hours of appraisal experience within no less than 24 months since the first appraisal.
- Does not require college degree and/or equivalent credits.
- Pass the licensed residential real estate appraiser examination.
4. Appraiser Trainee
- Must have 75 completed hours of qualifying education (QE).
- There is no experience required.
- There is no examination required.
In order to become a Delaware Real Estate Appraiser Trainee you must complete, sign and notarize the application form. Also, you must submit the verification of Real Estate Appraiser Supervision form, signed by your supervising Certified General Real Property Appraiser.
Experience documentation for applicants in the form of logs, reports, and file memoranda shall be available to support the experience claimed.
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 Delaware Real Estate Appraiser, click here.
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The Appraisal Process -
Overview of the on-site inspection, report generation, and respective guidelines. |
