An applicant applying for licensure as an appraiser in Colorado must meet certain qualifying education, experience, and examination requirements. Depending on the level of appraiser license that the applicant is applying for, they must successfully complete the detailed requirements for that particular license type, as set forth in the Board of Real Estate Appraisers Rules and Regulations and provided below:
Colorado Licensed Appraiser: See Rule 2.2
Colorado Certified Residential Appraiser: See Rule 2.3
Colorado Certified General Appraiser: See Rule 2.4
Colorado Licensed Ad Valorem Appraiser: See Rules 2.8 and 2.9
Real Property Appraiser Qualification Criteria established by the Appraisal Qualifications Board of the Appraisal Foundation can also be reviewed on the Appraisal Foundation Website.
Trainee and Supervisor Requirements
The State of Colorado does not have licensure levels for trainees and supervisors. However, appraisers must follow USPAP requirements when they take on a trainee.
Resources
Qualifying Education and Experience Requirements
Qualifying Education (110 Hours)
- Basic Appraisal Principles
- Basic Appraisal Procedures
- 15-Hour National USPAP Course or its Equivalent
- Introduction to Mass Appraisal
State Exam
- Ad Valorem Appraiser Examination
- No Letter of Exam Eligibility required
Qualifying Education (150 Hours)
- Basic Appraisal Principles
- Basic Appraisal Procedures
- 15-Hour National USPAP Course or its Equivalent
- Residential Market Analysis & Highest & Best Use
- Residential Appraiser Site Valuation & Cost Approach
- Residential Sales comparison and Income Approaches
- Residential Report writing and Case Studies
College Education
- No college-level education isrequired.
Significant Experience Information
One thousand (1,000) hours of experience are required to be obtained in no fewer than six (6) months.
Ways to Gain Required Experience
Experience Log Submitted in Excel Format (*.xls, *.xlsx)
Acknowledgement of Experience
Appraisers who substantially contribute to an appraisal must be specifically acknowledged according to Board Rule 11.2 and USPAP Standards Rule 2-3. The specific contributions of the assisting appraiser must be acknowledged in the certification, if the assisting appraiser does not sign an appraisal report. The appraiser may not use the appraisal report as evidence of appraisal experience if specific contributions are not acknowledged or the assisting appraiser does not sign the appraisal report.
Estimations of Experience
Appraisers must log the number of hours worked for each appraisal. Each appraisal may vary in the number of hours it takes to complete. Estimations of the total number of hours are not appropriate to verify experience.
Practical Applications of Real Estate Appraisal (PAREA)
PAREA was developed to fill the need for more options in place of the traditional Supervisor/Trainee model as an alternative path to gain the experience portion of the appraisal license requirements. In Colorado, aspiring appraisers can earn 100% of the experience requirements for both the AL and CR credentials.
Appraisal Foundation & PAREA
State Exam
- You must successfully complete the AQB approved Licensed Residential Real Property Appraiser State examination.
- You must complete all education and experience prior to taking the AQB approved State examination.
You must receive a Letter of Exam Eligibility before you can take the examination.
To obtain a "Letter of Exam Eligibility" you must submit your appraisal license application to the Division for review. A letter will be issued to all qualified applicants.
Submit Your Appraisal License Application
Qualifying Education (200 Hours)
- Basic Appraisal Principles
- Basic Appraisal Procedures
- 15-Hour National USPAP Course or its Equivalent
- Residential Market Analysis & Highest & Best Use
- Residential Appraiser Site Valuation & Cost Approach
- Residential Sales Comparison and Income Approaches
- Residential Report writing and Case Studies
- Statistics, Modeling and Finance
- Advanced Residential applications and Case Studies
- Appraisal Subject Matter Electives (20 Hours)
College Education
- An Applicant for the Certified Residential Appraiser credential must satisfy at least one (1) of the following six (6) options:
a. Hold a Bachelor’s Degree in any field of study from an accredited college or university as defined by Board Rule 1.30;
b. Hold an Associate’s Degree from an accredited college or university as defined by Board Rule 1.30, in a field of study related to:
I. Business Administration;
Ii. Accounting;
iii. Finance;
iv. Economics; or
v. Real Estate.
c. Successful completion of thirty (30) semester hours of college-level courses that cover each of the following specific topic areas and hours:
I. English Composition (3 semester hours);
Ii. Macroeconomics (3 semester hours);
iii. Microeconomics (3 semester hours);
iv. Finance (3 semester hours);
v. Algebra, Geometry, or higher mathematics (3 semester hours);
vi. Statistics (3 semester hours);
vii. Computer Science (3 semester hours);
viii. Business Law or Real Estate Law (3 semester hours); and
ix. Two (2) elective courses in any of the topics listed above or in Accounting, Geography, Agricultural Economics, Business Management, or Real Estate (3 semester hours each).
d. Successful completion of at least thirty (30) semester hours of
examinations created and administered by the CLEP, as defined in
Board Rule 1.43, from each of the following specific subject matter areas and hours:
i. College Algebra (3 semester hours);
ii. College Composition (6 semester hours);
iii. College Composition Modular (3 semester hours);
iv. College Mathematics (6 semester hours);
v. Principles of Macroeconomics (3 semester hours);
vi. Principles of Microeconomics (3 semester hours);
vii. Introductory Business Law (3 semester hours); and
viii. Information Systems (3 semester hours).
e. Any combination of Board Rule 2.3(B)(1)(c) and (B)(1)(d)
above that ensures coverage of all topics and hours identified in Board
Rule 2.3(B)(1)(c).
f. As an alternative to the college-level education requirements in Board
Rule 2.3(B)(1)(a through e) above, an Applicant that has held a Licensed
Appraiser credential for a minimum of five (5) years may qualify for a
Certified Residential Appraiser credential if the Applicant has had no
record of any adverse, final, and non-appealable disciplinary action
affecting the Licensed Appraiser’s legal eligibility to engage in appraisal
practice within the five (5) years immediately preceding the date of
application for a Certified Residential Appraiser credential.
Significant Experience Information
One thousand five hundred (1,500) hours of experience are required to be obtained in no fewer than twelve (12) months.
Ways to Gain Required Experience
Experience Log Submitted in Excel Format (*.xls, *.xlsx)
Acknowledgement of Experience
Appraisers who substantially contribute to an appraisal must be specifically acknowledged according to Board Rule 11.2 and USPAP Standards Rule 2-3. The specific contributions of the assisting appraiser must be acknowledged in the certification, if the assisting appraiser does not sign an appraisal report. The appraiser may not use the appraisal report as evidence of appraisal experience if specific contributions are not acknowledged or the assisting appraiser does not sign the appraisal report.
Estimations of Experience
Appraisers must log the number of hours worked for each appraisal. Each appraisal may vary in the number of hours it takes to complete. Estimations of the total number of hours are not appropriate to verify experience.
Practical Applications of Real Estate Appraisal (PAREA)
PAREA was developed to fill the need for more options in place of the traditional Supervisor/Trainee model as an alternative path to gain the experience portion of the appraisal license requirements. In Colorado, aspiring appraisers can earn 100% of the experience requirements for both the AL and CR credentials. Additionally, the CR program will also count for up to 1,500 hours towards the certified general license experience requirements.
State Exam
- You must successfully complete the AQB approved State Certified Residential Appraiser State examination.
- You must complete all education and experience prior to taking the AQB approved State examination.
You must receive a Letter of Exam Eligibility before you can take the examination.
To obtain a "Letter of Exam Eligibility" you must submit your appraisal license application to the Division for review. A letter will be issued to all qualified applicants.
Submit Your Appraisal License Application
Qualifying Education (300 Hours)
- Basic Appraisal Principles
- Basic Appraisal Procedures
- 15-Hour National USPAP Course or its Equivalent
- General Appraiser Sales Comparison Approach
- General Appraiser Site Valuation and Cost Approach
- General Appraiser Income Approach
- General Appraiser Report Writing and Case Studies
- Statistics, Modeling and Finance
- Appraisal Subject Matter Electives
- General Appraiser Market Analysis & Highest & Best Use
College Education
- Bachelor’s Degree, or higher, from an accredited college or university.
Significant Experience Information
Three thousand (3,000) hours in no fewer than eighteen (18) months, of which one thousand five hundred (1,500) hours must be in nonresidential appraisal work.
Ways to Gain Required Experience
Experience Log Submitted in Excel Format (*.xls, *.xlsx)
Acknowledgement of Experience
Appraisers who substantially contribute to an appraisal must be specifically acknowledged according to Board Rule 11.2 and USPAP Standards Rule 2-3. The specific contributions of the assisting appraiser must be acknowledged in the certification, if the assisting appraiser does not sign an appraisal report. The appraiser may not use the appraisal report as evidence of appraisal experience if specific contributions are not acknowledged or the assisting appraiser does not sign the appraisal report.
Estimations of Experience
Appraisers must log the number of hours worked for each appraisal. Each appraisal may vary in the number of hours it takes to complete. Estimations of the total number of hours are not appropriate to verify experience.
Practical Applications of Real Estate Appraisal (PAREA)
PAREA was developed to fill the need for more options in place of the traditional Supervisor/Trainee model as an alternative path to gain the experience portion of the appraisal license requirements. In Colorado, aspiring appraisers can earn 100% of the experience requirements for both the AL and CR credentials. Additionally, the CR program will also count for up to 1,500 hours towards the certified general license experience requirements.
There are no alternatives for 1,500 hours of non-residential experience requirements for the Certified General license, and the Board of Real Estate Appraisers does not approve providers or mentors.
State Exam
- You must successfully complete the AQB approved State Certified General Real Property Appraiser State examination.
- You must complete all education and experience prior to taking the AQB approved State examination.
- You must receive a Letter of Exam Eligibility before you can take the examination.
To obtain a "Letter of Exam Eligibility" you must submit your appraisal license application to the Division for review. A letter will be issued to all qualified applicants.
Submit Your Appraisal License Application