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On April 30, 2018, the Colorado Board of Real Estate Appraisers, within the Division of Real Estate, held an Emergency Rulemaking Hearing and adopted new rule changes to the Real Estate Appraiser Program, to be effective May 1, 2018.
Recently, the Appraisal Qualifications Board of the Appraisal Foundation changed the Real Property Appraiser Qualification Criteria. A summary of these changes, which are effective May 1, 2018, can be found at the Appraisal Foundation Website.
The Colorado Board of Real Estate Appraisers incorporated these new Appraisal Qualifications Board changes into the Colorado Real Estate Appraiser Rules, and they are effective May 1, 2018.
If you are applying for an initial appraiser license or upgrading to a new credential (Licensed Appraiser, Certified Residential Appraiser, or Certified General Appraiser) on or after May 1, 2018, these new qualifications will apply to any applicant. If you applied with the Division prior to May 1, 2018, the old qualifications will apply to those applicants.
If you have any questions in this regard, please contact the Division at 303-894-2166.
No college-level education is
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;
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
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 Board Rule (B)(1)(d)
above that ensures coverage of all topics and hours identified in Board
f. As an alternative to the college-level education requirements in Board
Rule (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.
Bachelor’s Degree, or higher, from an accredited college or university.