Appraiser Licensing

Appraiser licensing varies from state to state. To participate in what is called a "federally-related transaction," which is, for example, a mortgage being underwritten by a national bank, an appraiser must be licensed or certified by his or her state. The license or certification is evidence that the appraiser has performed a certain number of hours as a trainee under the supervision of a practicing appraiser, may have passed an examination, and completes a certain number of hours of Continuing Education Training.

Prior to the Savings and Loan crisis of the 80s, which gave rise to appraiser licensing, appraisers had to market their expertise, service, professionalism and association designations. Many feel that state licensing has diluted the appraisal profession. Many consider licensure a bare minimum of what you should expect from an appraiser.

We have worked hard to establish a reputation for quality and prompt work, performed professionally and ethically, with outstanding customer service. You should never just look for a licensed appraiser; you should be discriminating in choosing your service providers. Tour our website for valuable information on the experience we have and the service we provide.

You should always be sure your appraisal service provider is licensed and in good standing. The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) maintains a national database of appraisers and their license/certification status. It is available publicly at this link.

Among other things, this database, which relies on reports from each state appraisal board, will tell you if a service provider you are considering has had his or her license suspended, revoked, or whether the license has lapsed. You can rest assured that our license is current and in good standing!

Here in Virginia there are 4 tiers of licensing/certification: Licensed Trainee, Licensed Residential, Certified, and Certified General. Certified General appraisers are able to appraise any property commercial, residential, and industrial. Certified appraisers can appraise any residential property and some commercial properties. Licensed Appraisers are able to appraise residential properties up to a million dollars transaction value. Trainee appraisers are persons who have passed the exam for licensing, but are currently working on their required 2,000 hours of experience. Trainees are required to have their reports signed by a licensed or higher supervisor.

Persons who are not licensed at one level or another should not sign an appraisal report. There have been a large number of firms using non-licensed assistants within the Hampton Roads Area, and these folks should be supervised very closely by their supervisor. I would suggest that if the person inspecting your home for an appraisal is not licensed, please ask that their supervisor (at minimum) please accompany them while they do so. If someone comes to your home it is perfectly acceptable to ask that they provide a copy of their license to you. Virginia issues a wallet copy of the license, as well as a full size copy to display.