Real Estate Appraiser Licenses in Virginia
There are four license levels according to the Real Property Appraiser Qualification Criteria published by The Appraisal Foundation. These license levels have been adopted by Virginia and are included in the Real Estate Appraiser regulations.
As you will see below, there are legal limitations on what an appraiser may value. Basically the license levels differ regarding the type of property and the transaction value for the property.
At the end of each license description is a link to the specific requirements for that license.
This classification is for the person who has had NO real estate appraisal experience. A trainee appraiser works under the direct supervision of a certified appraiser, either a Certified Residential or a Certified General Real Estate Appraiser. (Licensed Residential Appraisers are NOT permitted to supervise trainees.) The trainee may appraise those properties that the Supervisory Appraiser is permitted by his credential and appraisal competency. However, it is essential that the trainee be competent to perform any work undertaken individually – for example, inspecting a property without the supervisor’s presence.
For the specific requirements for Trainee, click here.
Licensed Residential Real Estate Appraiser
The Licensed Residential Appraiser is permitted to appraise non-complex one-to-four residential units having a transaction value less than $1,000,000, and complex one-to-four residential units having a transaction value less than $250,000.
For the specific requirements for Licensed Residential, click here.
Certified Residential Real Estate Appraiser
The Certified Residential Appraiser classification qualifies the appraiser to appraise one-to-four residential units without regard to value or complexity.
For the specific requirements for Certified Residential, click here.
Certified General Real Estate Appraiser
The highest license classification, Certified General Appraiser, is qualified to appraise all types of real property. For example, they may appraise retail, office, industrial, churches, and of course they may complete home appraisals.
For the specific requirements for Certified General, click here.