298 Neb. Admin. Code, ch. 2, § 001

Current through September 17, 2024

Section 298-2-001 - EDUCATION

To qualify for a credential as a trainee real property appraiser, licensed residential real property appraiser, certified residential real property appraiser, or certified general real property appraiser, an applicant must complete post-secondary education and qualifying education requirements established for each classification.

001.01Trainee real property appraiser/supervisory real property appraiser

001.01A Pursuant to NEB. REV. STAT. § 76-2228.01(1) (c), an applicant for the trainee real property appraiser credential must:

001.01A.1 Successfully complete a minimum of 75 hours in board approved courses of study, which includes at least:

(1) The 15-hour National Uniform Standards of Professional Appraisal Practice Course,

(2) 30 hours of basic appraisal principles, and

(3) 30 hours of basic appraisal procedures; or

001.01A.2 Hold a degree in real estate from an accredited degree-awarding college or university that has had all or part of its curriculum approved by the Appraiser Qualifications Board as meeting qualifying education requirements, or the equivalent as determined by the Appraiser Qualifications Board. If said degree or equivalent does not satisfy all required qualifying education for credentialing, the remaining hours shall be completed in board-approved qualifying education.

001.01B An applicant for the trainee real property appraiser credential must provide a completion document evidencing that a board-approved supervisory real property appraiser and trainee course has been successfully completed within one year immediately preceding the date of application.

001.01C An applicant for approval as a supervisory real property appraiser must provide a completion document evidencing that a board-approved supervisory real property appraiser and trainee course has been successfully completed at the time the applicant was a certified real property appraiser. A certified real property appraiser disciplined by the Board or any other appraiser regulatory agency in another jurisdiction, which may or may not have limited the real property appraiser's legal eligibility to engage in real property appraisal practice, is required to provide a completion document evidencing that a board-approved supervisory real property appraiser and trainee course was successfully completed after the successful completion of the most recent disciplinary action. The board-approved supervisory real property appraiser and trainee course may be completed as a student or as an instructor.

001.01DSupervisory Real Property Appraiser and Trainee Course Completed in Another Jurisdiction

001.01D.1 The Board may accept a classroom education supervisory real property appraiser and trainee course completed in another jurisdiction if, at the time that the supervisory real property appraiser and trainee course was completed, the course:

001.01D.1a Is approved as a supervisory real property appraiser and trainee course by the jurisdiction in which it was completed; and

001.01D.1b Meets or exceeds the requirements for approval as a supervisory real property appraiser and trainee course as established in the Real Property Appraiser Qualifications Criteria adopted and promulgated by the Appraiser Qualifications Board of The Appraisal Foundation.

001.01D.2 The Board may accept a distance education supervisory real property appraiser and trainee course completed in another jurisdiction if, at the time the supervisory real property appraiser and trainee course was completed, the course:

001.01D.2a Is approved as a supervisory real property appraiser and trainee course by the jurisdiction in which the applicant is a legal resident, or is approved as a supervisory real property appraiser and trainee course by a jurisdiction in which the applicant is credentialed as verified through the Appraiser Registry of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council; and

001.01D.2b Meets or exceeds the requirements for approval as a supervisory real property appraiser and trainee course as established in the Real Property Appraiser Qualifications Criteria adopted and promulgated by the Appraiser Qualifications Board of The Appraisal Foundation.

001.01E If a trainee real property appraiser applicant, or a supervisory real property appraiser applicant, submits a supervisory real property appraiser and trainee course completed in another jurisdiction for consideration of acceptance by the Board, the applicant is required to meet the requirements specified in Section 001.01B or 001.01C of this Chapter.

001.02Licensed Residential Real Property Appraiser

001.02A Pursuant to NEB. REV. STAT. § 76-2230(1) (c), an applicant for the licensed residential real property appraiser credential must:

001.02A.1 Successfully complete a minimum of 150 hours in board-approved courses of study, which includes at least:

(1) The 15-hour National Uniform Standards of Professional Appraisal Practice Course,

(2) 30 hours of basic appraisal principles,

(3) 30 hours of basic appraisal procedures,

(4) 15 hours of market analysis and highest and best use,

(5) 15 hours of appraiser site valuation and cost approach,

(6) 30 hours of sales comparison and income approaches, and

(7) 15 hours of report writing and case studies; or

001.02A.2 Hold a degree in real estate from an accredited degree-awarding college or university that has had all or part of its curriculum approved by the Appraiser Qualifications Board as meeting qualifying education requirements, or the equivalent as determined by the Appraiser Qualifications Board. If said degree or equivalent does not satisfy all required qualifying education for credentialing, the remaining hours shall be completed in board-approved qualifying education.

001.02B A real property appraiser may upgrade to the licensed residential real property appraiser credential by satisfying the appropriate qualifying education for the classification below:

001.02B.1 Pursuant to NEB. REV. STAT. § 76-2228.01(4) (a), a trainee real property appraiser must successfully complete a minimum of 75 hours in the following board-approved courses of study, or hold a degree in real estate from an accredited degree-awarding college or university that has had all or part of its curriculum approved as meeting qualifying education requirements or the equivalent as determined by the Appraiser Qualifications Board. If said degree or equivalent does not satisfy all required qualifying education for credentialing, the remaining hours shall be completed in board-approved qualifying education:

(1) 15 hours of market analysis and highest and best use,

(2) 15 hours of appraiser site valuation and cost approach,

(3) 30 hours of sales comparison and income approaches, and

(4) 15 hours of report writing and case studies.

001.03Certified Residential Real Property Appraiser

001.03A Pursuant to NEB. REV. STAT. § 76-2231.01(1) (d), an applicant for the certified residential real property appraiser credential must:

001.03A.1 Successfully complete a minimum of 200 hours in board-approved courses of study, which includes at least:

(1) The 15-hour National Uniform Standards of Professional Appraisal Practice Course,

(2) 30 hours of basic appraisal principles,

(3) 30 hours of basic appraisal procedures,

(4) 15 hours of market analysis and highest and best use,

(5) 15 hours of appraiser site valuation and cost approach,

(6) 30 hours of sales comparison and income approaches,

(7) 15 hours of report writing and case studies,

(8) 15 hours of statistics, modeling, and finance,

(9) 15 hours of advanced applications and case studies, and

(10) 20 hours of appraisal subject matter electives; or

001.03A.2 Hold a degree in real estate from an accredited degree-awarding college or university that has had all or part of its curriculum approved as meeting qualifying education requirements or the equivalent as determined by the Appraiser Qualifications Board. If said degree or equivalent does not satisfy all required qualifying education for credentialing, the remaining hours shall be completed in board-approved qualifying education.

001.03B One quarter hour credit is equivalent to .67 semester credit hours for college-level courses taken in a quarterly system versus a semester system.

001.03C Pursuant to NEB. REV. STAT. § 76-2231.01(1) (b), in order to assist the Board with its evaluation of the applicant's college-level courses, the applicant may be required to submit copies of course related materials.

001.03D A trainee real property appraiser may upgrade to the certified residential real property appraiser credential by:

001.03D.1 Satisfying the post-secondary education requirements in NEB. REV. STAT. § 76-2231.01(1) (b),or (1) (b) and (c) if applicable; and

001.03D.2 Pursuant to NEB. REV. STAT. § 76-2228.01(5) (b), successfully completing a minimum of 125 hours in the following board-approved courses of study, or holding a degree in real estate from an accredited degree-awarding college or university that has had all or part of its curriculum approved as meeting qualifying education requirements or the equivalent as determined by the Appraiser Qualifications Board. If said degree or equivalent does not satisfy all required qualifying education for credentialing, the remaining hours shall be completed in board-approved qualifying education:

(1) 15 hours of market analysis and highest and best use,

(2) 15 hours of appraiser site valuation and cost approach,

(3) 30 hours of sales comparison and income approaches,

(4) 15 hours of report writing and case studies,

(5) 15 hours of statistics, modeling, and finance,

(6) 15 hours of advanced applications and case studies, and

(7) 20 hours of appraisal subject matter electives.

001.03E A licensed real property appraiser may upgrade to the certified residential real property appraiser credential by:

001.03E.1 Satisfying one of the following:

001.03E.1a Having held a credential as a licensed real property appraiser for a minimum of five years, and having not been subject to a nonappealable disciplinary action by the Board or any other jurisdiction as specified in NEB. REV. STAT. § 76-2230(3) (a) (ii) (B); or

001.03E.1b The post-secondary education requirements in NEB. REV. STAT. § 76-2231.01(1) (b),or (1) (b) and (c) if applicable; and

001.03E.2 Pursuant to NEB. REV. STAT. § 76-2230(3) (b), successfully completing a minimum of 50 hours in the following board-approved courses of study, or holding a degree in real estate from an accredited degree-awarding college or university that has had all or part of its curriculum approved as meeting qualifying education requirements or the equivalent as determined by the Appraiser Qualifications Board. If said degree or equivalent does not satisfy all required qualifying education for credentialing, the remaining hours shall be completed in board-approved qualifying education:

(1) 15 hours of statistics, modeling, and finance;

(2) 15 hours of advanced applications and case studies; and

(3) 20 hours of appraisal subject matter electives.

001.04Certified General Real Property Appraiser

001.04A Pursuant to NEB. REV. STAT. § 76-2232(1) (d), an applicant for the certified general real property appraiser credential must:

001.04A.1 Successfully complete a minimum of 300 hours in board-approved courses of study, which includes at least:

(1) The 15-hour National Uniform Standards of Professional Appraisal Practice Course,

(2) 30 hours of basic appraisal principles,

(3) 30 hours of basic appraisal procedures,

(4) 30 hours of general appraiser market analysis and highest and best use,

(5) 30 hours of general appraiser site valuation and cost approach,

(6) 30 hours of general appraiser sales comparison approach,

(7) 60 hours of general appraiser income approach,

(8) 30 hours of general appraiser report writing and case studies,

(9) 15 hours of statistics, modeling, and finance, and

(10) 30 hours of appraisal subject matter electives; or

001.04A.2 Hold a degree in real estate from an accredited degree-awarding college or university that has had all or part of its curriculum approved by the Appraiser Qualifications Board as meeting qualifying education requirements, or the equivalent as determined by the Appraiser Qualifications Board. If said degree or equivalent does not satisfy all required qualifying education for credentialing, the remaining hours shall be completed in board-approved qualifying education.

001.04B A real property appraiser may upgrade to the certified general real property appraiser credential by satisfying the post-secondary education requirements in NEB. REV. STAT. § 76-2232(1) (b),or (1) (b) and (c) if applicable, and the appropriate qualifying education for the classification below:

001.04B.1 Pursuant to NEB. REV. STAT. § 76-2228.01(6) (b), a trainee real property appraiser must successfully complete a minimum of 225 hours in the following board-approved courses of study, or hold a degree in real estate from an accredited degree-awarding college or university that has had all or part of its curriculum approved as meeting qualifying education requirements or the equivalent as determined by the Appraiser Qualifications Board. If said degree or equivalent does not satisfy all required qualifying education for credentialing, the remaining hours shall be completed in board-approved qualifying education:

(1) 30 hours of general appraiser market analysis and highest and best use,

(2) 30 hours of general appraiser site valuation and cost approach,

(3) 30 hours of general appraiser sales comparison approach,

(4) 60 hours of general appraiser income approach,

(5) 30 hours of general appraiser report writing and case studies,

(6) 15 hours of statistics, modeling, and finance, and

(7) 30 hours of appraisal subject matter electives.

001.04B.2 Pursuant to NEB. REV. STAT. § 76-2230(4) (b), a licensed residential real property appraiser must successfully complete a minimum of 150 hours in the following board-approved courses of study, or hold a degree in real estate from an accredited degree-awarding college or university that has had all or part of its curriculum approved as meeting qualifying education requirements or the equivalent as determined by the Appraiser Qualifications Board. If said degree or equivalent does not satisfy all required qualifying education for credentialing, the remaining hours shall be completed in board-approved qualifying education:

(1) 15 hours of general appraiser market analysis and highest and best use,

(2) 15 hours of general appraiser site valuation and cost approach,

(3) 15 hours of general appraiser sales comparison approach,

(4) 45 hours of general appraiser income approach,

(5) 15 hours of general appraiser report writing and case studies,

(6) 15 hours of statistics, modeling, and finance, and

(7) 30 hours of appraisal subject matter electives.

001.04B.3 Pursuant to NEB. REV. STAT. § 76-2231.01(3) (b), a certified residential real property appraiser must successfully complete a minimum of 100 hours in the following board-approved courses of study, or hold a degree in real estate from an accredited degree-awarding college or university that has had all or part of its curriculum approved as meeting qualifying education requirements or the equivalent as determined by the Appraiser Qualifications Board. If said degree or equivalent does not satisfy all required qualifying education for credentialing, the remaining hours shall be completed in board-approved qualifying education:

(1) 15 hours of general appraiser market analysis and highest and best use,

(2) 15 hours of general appraiser site valuation and cost approach,

(3) 15 hours of general appraiser sales comparison approach,

(4) 45 hours of general appraiser income approach, and

(5) 10 hours of general appraiser report writing and case studies.

001.05 An applicant for the trainee, licensed residential, certified residential, or certified general real property appraiser credential must provide evidence that the required qualifying education has been successfully completed. Each applicant will be required to furnish:

001.05A A document of completion for each qualifying education course; and/or

001.05B An official transcript from the university or college at which the applicant obtained a degree in real estate that has had all or part of its curriculum approved by the Appraiser Qualifications Board as meeting qualifying education requirements, or the equivalent as determined by the Appraiser Qualifications Board. Transcripts may be submitted in paper, or electronically through a secure site if the transcript is marked as official and the Board is provided access directions directly from the school.

001.06Qualifying Education Completed in Another Jurisdiction

001.06A The Board may accept a classroom education qualifying education activity completed in another jurisdiction if, at the time the activity was completed, the qualifying education activity:

001.06A.1 Is approved as qualifying education by the jurisdiction in which it was completed ; and

001.06A.2 Meets or exceeds the requirements for approval as a qualifying education activity as established in the Real Property Appraiser Qualifications Criteria adopted and promulgated by the Appraiser Qualifications Board of The Appraisal Foundation.

001.06B The Board may accept a distance education qualifying education activity completed in another jurisdiction if, at the time the activity was completed, the qualifying education activity:

001.06B.1 Is approved as qualifying education by the jurisdiction in which the applicant is a legal resident, or is approved as qualifying education by a jurisdiction in which the applicant is credentialed as verified through the Appraiser Registry of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council; and

001.06B.2 Meets or exceeds the requirements for approval as qualifying education activity as established in the Real Property Appraiser Qualifications Criteria adopted and promulgated by the Appraiser Qualifications Board of The Appraisal Foundation.

001.06C If the applicant submits a qualifying education activity completed in another jurisdiction for consideration of acceptance by the Board, the applicant will furnish a document of completion for the activity.

001.07 An applicant for the certified residential or certified general real property appraiser credential shall furnish an official transcript from the university, college, or community college as proof that the post-secondary education requirements have been met. Transcripts may be submitted in paper, or electronically through a secure site if the transcript is marked as official and the Board is provided access directions directly from the school.

298 Neb. Admin. Code, ch. 2, § 001

Amended effective 2/27/2017.

Amended effective 4/10/2019

Amended effective 12/16/2020

Amended effective 12/21/2021

Amended effective 6/5/2023