N.Y. Comp. Codes R. & Regs. tit. 19 § 1103.2
Current through Register Vol. 46, No. 50, December 11, 2024
Section 1103.2 - Prospective licensees(a) Education requirements for New York State appraiser assistants. An applicant must satisfactorily complete the following courses within the five year period prior to the date of submission of an appraiser assistant application: (1) Residential 5 (R-5) - Basic Appraisal Principles 30 hours(2) Residential 6 (R-6) - Basic Appraisal Procedures 30 hours(3) USPAP or its equivalent, as further defined in 15 hours section 1103.7 of this Part(4) Supervisory Appraiser/Trainee Appraiser Course 4 hours Total 79 hours(b) Education requirements for New York State licensed real estate appraisers.(1) An applicant must satisfactorily complete the following courses: (i) Residential 5 (R-5)- Basic Appraisal Principles 30 hours(ii) Residential 6 (R-6)- Basic Appraisal Procedures 30 hours(iii) USPAP or its equivalent as further defined in section 1103.7 of this Part 15 hours(iv) Residential 7 (R-7)- Residential Market Analysis and Highest and Best Use 15 hours(v) Residential 8 (R-8)- Residential Appraisal Site Valuation and Cost Approach 15 hours(vi) Residential 9 (R-9)- Residential Sales Comparison and Income Approach 30 hours(vii) Residential 10 (R-10)- Residential Report Writing and Case Studies 15 hours Total 150 hours(2) In addition to the education requirements in paragraph 1 of this subdivision, a licensed real estate appraiser applicant must also satisfactorily complete two years of real property appraisal experience as provided in section 160-k of the Executive Law. (c) Education requirements for a New York State certified residential real estate appraisers: (1) An applicant shall satisfactorily complete the following courses: (i) Residential 5 (R-5) Basic Appraisal Principles 30 hours(ii) Residential 6 (R-6) Basic Appraisal Procedures 30 hours(iii) USPAP or its equivalent, as further defined in section 1103.7 of this Part 15 hours(iv) Residential 7 (R-7) Residential Market Analysis and Highest and Best Use 15 hours(v) Residential 8 (R-8) Residential Appraisal Site Valuation and Cost Approach 15 hours(vi) Residential 9 (R-9) Residential Sales Comparison and Income Approach 30 hours(vii) Residential 10 (R-10) Residential Report Writing and Case Studies 15 hours(viii) Statistics, Modeling and Finance (SMF) 15 hours(ix) Residential 11 (R-11) Advanced Residential Applications and Case Studies 15 hours(x) Appraisal subject matter electives: Introduction to Residential Income Properties (RE-1), Fair Housing/Fair Lending and Environmental Issues (RE-2), or such other elective course approved by the Department. 20 hours Total 200 hours
(2) In addition to the aforementioned education requirements, prospective licensees for a New York State certified residential real estate appraiser certification shall comply with the minimum qualifying education standards --- as established by the Appraiser Qualifications Boards pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (Title XI) in the publication entitled: "Real Property Appraiser Qualification Criteria" (Effective May 1, 2018) (herein after "2018 AQB") for qualifications for Certified Residential Real Property Appraisers --- appearing in Sections III.A; III.B.1., III.B.2., III.B.3., III.B.4., or III.B.5; or III.C, appearing on pages 19 to 20 of said publication, which is incorporated herein by reference. (i) Copies of the 2018 AQB may be obtained from the publisher at the following address: THE APPRAISAL FOUNDATION
The Madison Building
1155 15th Street NW, Suite 1111
Washington, DC 20005
Copies may also be obtained from the publishers' website at: www.appraisalfoundation.org.
(ii)Additional copies of the 2018 AQB may be obtained and are available for inspection and copying at:
NYS Department of State
Division of Licensing Services
One Commerce Plaza
99 Washington Avenue
Albany, NY 12231-0001
(d) Education requirements for a New York State certified general real estate appraisers. (1) An applicant shall satisfactorily complete the following courses: (i) Residential 5 (R-5) Basic Appraisal Principles 30 hours(ii) Residential 6 (R-6) Basic Appraisal Procedures 30 hours(iii) USPAP or its equivalent, as further defined in section 1103.7 of this Part 15 hours(iv) General 4(G-4) General Market Analysis and Highest and Best Use 30 hours(v) Statistics, Modeling and Finance (SMF) 15 hours(vi) General 5 (G-5) General Appraiser Sales Comparison Approach 30 hours(vii) General 6 (G-6) General Appraiser Site Valuation and Cost Approach 30 hours(viii) General 7 (G-7) General Appraiser Income Approach 60 hours(ix) General 8 (G-8) General Appraiser Report Writing and Case Studies 30 hours(x) Fair Housing, Fair Lending and Environmental Issues (GE-1) 15 hours(xi) Appraisal subject matter electives: (a) Specialty Appraisals (GE-2)(b) Using the HP12C Financial Calculator (GE-3); or(c) such other elective course approved by the Department. 15 hours Total 300 Hours
(2) In addition to the aforementioned education requirements, prospective licensees for a NYS certified general real estate appraiser certification shall hold a bachelor's degree, or higher, from an accredited college or university. The college or university must be a degree-granting institution accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the U.S. Secretary of Education.(3) Applicants with a college degree from a foreign country may have their education evaluated for equivalency by one of the following: (i) An accredited, degree-granting domestic college or university;(ii) The American Association of Collegiate Registrars and Admissions Officers (AACRAO);(iii) A foreign degree credential evaluation service company that is a member of the National Association of Credential Evaluation Services (NACES);(iv) A foreign degree credential evaluation service company that provides equivalency evaluation reports accepted by an accredited degree granting domestic college or university or by a state licensing board that issues credentials in another discipline.(e) Course attendance requirements. To earn credit for any appraisal course in this section, a prospective licensee must attend 100 percent of the required instruction time.(f) Appraisal courses completed prior to January 1, 1991. A prospective licensee seeking credit for an appraisal course completed prior to January 1, 1991 shall submit a written request for approval to the Department and must show that the appraisal course substantially covered the same subject matter, classroom hours of attendance and completed standards as prescribed by this Part. Applications must contain an official transcript or other documentation showing the subjects taken, the hours of instruction devoted to each subject, the hours attended by the prospective licensee and the date the appraisal course was completed. The application must also contain a course description or outline from the appraisal school. The Department may request additional supportive documentation to determine course equivalency based on criteria approved by the NYS Board of Real Estate Appraisal.(g) Out-of-state courses. A prospective licensee who has taken an appraisal course in another state may apply to the Department for approval of that course. The application for approval of the course shall contain an original certification or transcript from the appraisal school showing the course title, date of course completion and the number of classroom hours attended. The Department will only consider awarding course credit if the prospective licensee attended the course and successfully completed a comprehensive final examination. The Department will only grant course approval in not less than 15 hour segments.N.Y. Comp. Codes R. & Regs. Tit. 19 § 1103.2
Amended, New York State Register December 31, 2014/Volume XXXVI, Issue 52, eff. 1/1/2015Amended New York State Register November 22, 2017 /Volume XXXIX, Issue 47, eff. 1/30/2018Amended New York State Register October 18, 2017/Volume XXXIX, Issue 42, eff. 2/2/2018Amended New York State Register May 1, 2019/Volume XLI, Issue 18, eff. 5/1/2019Amended New York State Register August 21, 2019/Volume XLI, Issue 34, eff. 8/21/2019