What is the difference between a licensed appraiser and a certified appraiser?

What is the difference between a licensed appraiser and a certified appraiser?

The main difference between a licensed appraiser and a certified appraiser is the level of education, experience, and expertise they have in the field of real estate appraisal.

A licensed appraiser has completed the necessary education and training required by their state to obtain a license to appraise real estate. They are authorized to perform appraisals on simple residential properties that are typically worth less than $1 million. Licensed appraisers must work under the supervision of a certified appraiser and are limited in the scope of properties they can appraise.

On the other hand, a certified appraiser has completed additional education and training beyond the requirements for a licensed appraiser. They are authorized to perform appraisals on all types of residential, regardless of their value. Certified appraisers have also passed a national exam and must adhere to a code of ethics and professional standards. They are independent, unbiased experts who can provide an accurate and reliable assessment of a property's value.

In summary, while licensed appraisers are authorized to perform appraisals on less complex properties under the supervision of a certified appraiser, certified appraisers have more extensive education, training, and expertise and can appraise all types of properties independently. (Reviewed by Tyson Finley)