264 CMR, § 5.06

Current through Register 1531, September 27, 2024

Section 5.06 - Experience Criteria

The following specifications apply to the experience requirements for all classifications of licensure and certification:

(1) To meet experience requirements, applicants must demonstrate they have obtained the required amount of experience as described in 264 CMR 5.00.

(2) All experience to be utilized for purposes of obtaining a license must have been obtained after January 31, 1989 and must be USPAP compliant.

(3) All experience must be earned as an appraisal trainee or appraiser-in-training in compliance with 264 CMR 6.00: Practice of Real Estate Appraisal.

(4) Amount of work experience required for State-licenses and Certification:

(a)State-licensed Real Estate Appraiser. At least 1,000 credited hours in no fewer than six months.

(b)State-certified Residential Real Estate Appraiser. 1,500 credited hours in no fewer than 12 months.

(c)State-certified General Real Estate Appraiser. 3,000 credited hours in no fewer than 18 months. At least 50% of the experience must be nonresidential appraisal experience.

(5)Tracking of Work Experience Hours. For purposes of obtaining a state license or certification, hours may only be credited in the manner outlined in 264 CMR 5.06(6) as documented by the supervisor. However, due to the possibility that an applicant could be credited with more hours than he or she actually worked, both credited hours and actual hours worked must meet or exceed the hour requirement in 264 CMR 5.06(4).

(6)Credited Hours. All hours credited to an appraiser trainee or appraiser-in-training must adhere to the following provisions:

(a) Credited Hours for appraisal work where trainee or appraiser-in-training has prepared at least 75% of an Appraisal Report in compliance with USPAP Standard 2. At least 50% of a trainee or appraiser-in-training's credited hours must come from this category:

Type of Property	Credited Hours
1. one unit residential properties with full interior inspection	8
2. one unit residential properties having a transaction value of more than $1,000,000 and complex one unit residential properties having a transaction value of more than $250,000 with full interior inspection	10
3. one unit residential properties with exterior only inspection	6
4. two to four unit residential properties with full interior inspection	12
5. two to four unit residential properties having a transaction value of more than $1,000,000 and complex two to four unit residential properties having a transaction value of more than $250,000 with full interior inspection	14
6. two to four unit residential properties with exterior only inspection	6
7. vacant or unimproved land that is to be utilized for one to four unit residential properties, and where the highest and best use is for one to four unit residential purposes (one to 25 acres)	6
8. vacant or unimproved land that is to be utilized for one to four unit residential properties, and where the highest and best use is for one to four unit residential purposes (more than 25 acres)	10
9. vacant or unimproved land that is to be utilized for nonresidential (commercial) properties	40
10. Residential Multi-family (five to 12 units): Apartments, condominiums, townhouses and mobile home parks	40
11. Residential Multi-family (13 or more units): Apartments, condominiums, townhouses, and mobile home parks	45
12. Commercial (one to five tenants) [Office building, retail store, restaurant, service station, bank, day-care, etc.]	40
13. Commercial (six or more tenants) [Office building, shopping center, hotel/motel, etc.]	60
14. Industrial [Warehouse, manufacturing plant, etc.] - One tenant	40
15. Industrial [Warehouse, manufacturing plant, etc.] - Multi-tenant	60
16. Institutional [Nursing home, hospital, school, church, government building, etc.]	64
17. Other special use properties deemed complex by the supervisor (this shall include feasibility analysis)	Up to 80*
18. Other special use properties deemed non-complex by the supervisor	Up to 40*

* A maximum of 25% of credited hours may be earned in categories 17 and 18.

(b) Review Appraisals shall be credited as follows:

1. Review Appraisals may not be credited unless performed in compliance with Standard 3 of the USPAP.

2. A Review Appraisal shall be credited with 20% of the hours that would have been credited for performing the appraisal itself.

3. All required hours (100%) to become a State-licensed Real Estate Appraiser may be satisfied by performing Review Appraisals.

4. Up to 50% of required hours to become a State-certified Residential Real Estate Appraiser or State-certified General Real Estate Appraiser may be satisfied by performing Review Appraisals.

(c) Credited Hours for other types of appraisal work. No more than 50% of a trainee or appraiser-in-training's hours may come from this category:

Type of Appraisal Work	Credited Hours
1. Restricted Appraisal Reports	25% of credited hours that would have been awarded for the appraisal had it not been restricted.
2. Ad valorem tax appraisals	16
3. Mass appraisals performed in accordance with USPAP Standards Rule 6	24
4. Market analysis or consulting analysis completed in accordance with USPAP	8
5. Comparative Market Analysis in which a value is prepared in conformity with USPAP Standards Rules 1 and 2	4

(d) Appraisal work where trainee or appraiser-in-training has not prepared at least 75% of an Appraisal Report, provided, however, that specific work is attributed to the trainee or appraiser-in-training in the certification. No more than 25% of a trainee or appraiser-in-training's credited hours may come from this category. For tasks performed in conjunction with a residential appraisal, a trainee or appraiser-in-training may be awarded by their supervisor a range of one to five hours per subject property. For tasks performed in conjunction with a nonresidential appraisal, a trainee or appraiser-in-training may be awarded by their supervisor a range of one to 20 hours per subject property. For purposes of 264 CMR 5.06(6), only the following tasks are eligible for credit:

1. Physical Inspection of the Property;

2. Site Description and Description of the Improvements;

3. Regional and Local Area Analysis;

4. Zoning and Real Estate Taxes;

5. Research Ownership and History of the subject property;

6. Develop Market Analysis and Highest and Best Use;

7. Research and photograph comparable data;

8. Develop Land Valuation;

9. Develop Cost Approach;

10. Develop Sales Comparison Approach;

11. Develop Income Approach; and

12. Reconcile Approaches/Conclusion of Value.

264 CMR, § 5.06

Amended by Mass Register Issue 1323, eff. 10/7/2016.

Amended by Mass Register Issue 1416, eff. 5/1/2020.