The state-certified residential real estate appraiser classification applies to appraisals of all types of residential property of one to four units without regard to transaction value or complexity and nonresidential property having a transaction value less than two hundred fifty thousand dollars.
(1) As a prerequisite to taking the examination for certification as a state-certified residential real estate appraiser, an applicant shall present evidence satisfactory to the director that he/she has successfully completed not less than one hundred twenty classroom hours of qualifying education as approved by the director. Each applicant must successfully complete a thirty classroom hour course in the basic principles of real estate appraising and a fifteen classroom hour course in the Uniform Standards of Professional Appraisal Practice as part of the one hundred twenty classroom hours of course work: Provided, That effective January 1, 2007, the required number of classroom hours is two hundred in the following core modules:
(a) Basic appraisal principles, thirty hours.
(b) Basic appraisal procedures, thirty hours.
(c) The National USPAP course or equivalent, fifteen hours.
(d) Residential market analysis and highest and best use, fifteen hours.
(e) Residential appraiser site valuation and cost approach, fifteen hours.
(f) Residential sales comparison and income approaches, thirty hours.
(g) Residential appraiser report writing and case studies, fifteen hours.
(h) Statistics, modeling and finance, fifteen hours.
(i) Advanced residential applications and case studies, fifteen hours.
(j) Appraisal subject matter electives, twenty hours.
(2) An original certification as a state-certified residential real estate appraiser shall not be issued to any person who does not possess two thousand five hundred hours of appraisal experience obtained continuously over a period of not less than twenty-four months in Washington or in another state having comparable certification requirements.
(3) Effective January 1, 2008, certified residential real estate appraiser applicants must possess an associate's degree or higher in any field of study or, in lieu of the required degree, twenty-one semester credit hours covering the following subject matter courses:
(a) English composition;
(b) Principles of economics (micro or macro);
(c) Finance;
(d) Algebra, geometry or, higher mathematics;
(e) Statistics;
(f) Introduction to computers: Word processing/spreadsheets; and
(g) Business or real estate law;
as approved by the appraiser qualifications board and the director, in addition to the required core curriculum.
[Statutory Authority: RCW 18.140.030 (1), (7), (8), and (15). 06-06-069, § 308-125-040, filed 2/28/06, effective 4/1/06. Statutory Authority: RCW 18.140.030(1). 97-02-004, § 308-125-040, filed 12/20/96, effective 1/20/97; 94-01-002, § 308-125-040, filed 12/1/93, effective 1/1/94; 93-17-020, § 308-125-040, filed 8/10/93, effective 9/10/93. Statutory Authority: RCW 18.140.030. 91-23-007, § 308-125-040, filed 11/7/91, effective 12/8/91; 91-04-074, § 308-125-040, filed 2/5/91, effective 3/8/91.]