Requirements for Real Estate Appraiser' Licensure and Examination
Purpose of Licensure:
To set standards of qualifications, education, training, and experience for persons engaged in the Real Estate Appraiser’s field. To promote high standards of professional performance for those persons working in the Real Estate Appraiser’s field. To ensure that everyone engaged in work in the Real Estate field is licensed.
Period of Licensure:
All permanent licenses are issued on an annual basis from date of issuance to December 31 of each calendar year.
Temporary licenses are issued for six (6) months; and one free renewal is allowable. Renewal must be for same project.
Application Process:
Applications must be completed entirely and legible. Initial Application Requirements:
- A completed and notarized application;
- Copy of current registration or license;
- Three (3) 2x2 photographs of the applicant;
- One (1) letter of favorable character testimony;
- Two (2) letters of professional reference from individuals with knowledge of the applicant's work in the appraisal field;
- A certified copy of the applicant's college transcript, must be mailed directly from the College/University to the Board;
- If applying by reciprocity, State Board Verification of examination and current license status;
- National Criminal Background Check; and,
- Payment of Required Fees. [dlca.vi.gov].
Effective May 1, 2019, pursuant to the Appraisal Qualification Board of the Appraisal Foundation adopted the following requirements:
- Degree Requirements
- Certified Residential Real Estate Appraiser
- four-year degree; or
- a two-year degree in specific topics; or
- 30 semester hours of college courses in specific course work; or
- passing CLEP® exams; or
- any combination of courses and college exams; or
- appraisers who have held a License Residential credential for at least five years.
- Certified General Real Estate Appraiser
- A four-year degree is required.
- Hours of Experience and Time Requirements
- Certified Residential Real Estate Appraiser
- 1,500 hours in no less than 12 months.
- Certified General Real Estate Appraiser
- 3,000 hours of experience with 1,500 hours required to be non-residential. These hours must be obtained in no less than 18 months of time.
Temporary Licensure:
Temporary Application Requires:
- Completed notarized application;
- Apply for the Temporary Practice Application
- Three (3) 2x2 photographs of the applicant;
- Current license from another jurisdiction in which applicant is licensed;
- Letter of engagement or other documents to prove the client properties in the assignment;
Examination:
All persons interested in becoming licensed in any area of the Real Estate Appraiser industry are required to sit an examination. The examination is computer-based offered online, weekly, through PSI Testing Services, LLC, www.psiexams.com or call (800) 733-9267.
Renewal of License Requires:
In order to renew both a professional and or business license, visit the Department of Licensing and Consumer Affairs website ( www.dlca.vi.gov), and follow the simple steps in order to obtain a reference number and choose your payment option. A favorable tax approval is required and shall be provided electronically from the VIBIR.
Additionally, you will be required to submit 14 hours of CEU’s annually (7 hours of USPAP, every other year).
EXAMINATION:
All persons interested in becoming a licensed Real Estate Appraiser are required to sit a written a examination. The examination is computer-based offered online weekly through PSI Testing Services, LLC, www.psiexams.com or call (800) 733-9267. The examination fee is $200.00.
Required Fees:
Board Members:
Elissa Rock-Runyon, Board Chair
Noreen Dunn
Leigh Goldman
Rohit Khiani
Adonis Morton
Delrease Roberts
Mailing Addresses:
Attention: H. Nathalie Hodge
Assistant Commissioner, Office of Boards and Commissions
V.I. Board of Real Estate Appraisers
Department of Licensing and Consumer Affairs
Golden Rock Shopping Center, Suite #9
Christiansted, VI 00820-4311
