76-2231.01 Credential as a certified residential real property appraiser; applicant; qualifications; upgraded credential; requirements. - Nebraska Statutes

76-2231.01. Credentialas a certified residential real property appraiser; applicant; qualifications; upgraded credential; requirements.(1) To qualifyfor a credential as a certified residential real property appraiser, an applicantshall:(a) Be at least nineteen years of age;(b)(i) Hold an associate degree, or higher, from an accredited, degree-awarding university,college, or communitycollege; or(ii) Have successfully completed, as verified by the board,twenty-one semester hours of coursework or its equivalent from an accredited, degree-awarding university,college, or communitycollege thatshall have included English composition; principles of macroeconomics or microeconomics;finance; algebra, geometry, or higher mathematics; statistics; introductionto computers, including word processing and spread sheets; and business orreal estate law;(c) Have successfully completed no fewer than two hundredclass hours, which may include the class hours set forth in sections 76-2229.01and 76-2230, in board-approved courses of study which relate to appraisaland which include completion of the fifteen-hour National Uniform Standardsof Professional Appraisal Practice Course as approved by the Appraiser QualificationsBoard as of January 1, 2010,or the equivalent of the course as approved by the Real Property AppraiserBoard. The fifteen-hour course shall be taught by a Uniform Standardsof Professional Appraisal Practice Instructor who is certified by the AppraiserQualifications Board and who is a state-certified appraiser in good standing.The courses of study shall be conducted by an accredited, degree-awarding university, college, or community college, an appraisalsociety, institute, or association, a state or federal agency or commission,a proprietary school, or such other educational provider as may be approvedby the Real Property Appraiser Board andshall be, at a minimum, fifteen class hours in length. Each course shall include aclosed-book examination pertinent to the material presented;(d) Have no fewer than two thousand five hundred hours ofexperience in any combination of the following: Fee and staff appraisal; advalorem tax appraisal; condemnation appraisal; technical review appraisal;appraisal analysis; real estate consulting; highest-and-best-use analysis;and feasibility analysis or study. The required experience shall not be limitedto the listed items but shall be acceptable to the board and subject to reviewand determination as to conformity with the Uniform Standards of ProfessionalAppraisal Practice. The experience shall have occurred during a period ofno fewer than twenty-four months. If requested, evidence acceptable to theboard concerning the experience shall be presented by the applicant in theform of written reports or file memoranda;(e) Within the twelve months following approvalof the applicant by the board, pass an examination approved by the Appraiser QualificationsBoard as of January 1, 2010, and administered by acontracted testing service which demonstrates that the applicanthas:(i) Knowledge of technical terms commonly used in or relatedto appraisal and the writing of appraisal reports;(ii) Knowledge of depreciation theories, cost estimating,methods of capitalization, market data analysis, appraisal mathematics, andeconomic concepts applicable to real estate;(iii) An understanding of the principles of land economics,appraisal processes, and problems encountered in the gathering, interpreting,and processing of data involved in the valuation of real property;(iv) Knowledge of the appraisal of various types of and interestsin real property for various functions and purposes;(v) An understanding of basic real estate law;(vi) An understanding of the types of misconduct for whichdisciplinary proceedings may be initiated;(vii) An understanding of the Uniform Standards of ProfessionalAppraisal Practice;(viii) An understanding of the recognized methods and techniquesnecessary for the development and communication of a credible appraisal; and(ix) Knowledge of such other principles and procedures asmay be appropriate to produce a credible appraisal; and(f) Not have been convicted of any felony or, if so convicted,have had his or her civil rights restored.(2) To qualifyfor an upgraded credential as a certified general real property appraiser,a certified residential real property appraiser shall satisfy the followingrequirements:(a) Complete one hundred additional hours of designated core curriculumeducation;(b) Meet the experience requirements pursuant to subdivision (1)(d)of section 76-2232; and(c) Meet the postsecondary educational requirements pursuant tosubdivision (1)(b)(i) or (ii) of section 76-2232.(3)The scope of practice of a certified residential real propertyappraiser shall be limited to the appraisal of property having one, two, three,or four residential units without regard to transaction value or complexity.(4) If an applicant is applyingfor renewal of a credential as a certified residential real property appraiser, the applicantshall have successfully completed no fewer than fourteen hours of instructionin courses or seminars for each year of the two-year continuing educationperiod during which the application is submitted and shall have completedthe seven-hour National Uniform Standards of Professional Appraisal PracticeUpdate Course asapproved by the Appraiser Qualifications Board as of January 1, 2010, or the equivalent of the courseas approved by the Real Property Appraiser Board, at a minimumof every two years. The seven-hour course shall be taught by a Uniform Standardsof Professional Appraisal Practice Instructor who is certified by the AppraiserQualifications Board and who is a state-certified appraiser in good standing.Credit toward a classroom hour requirement may be granted only if the lengthof the educational offering is at least two hours. The courses of study shallbe conducted by an accredited,degree-awarding university, college, or community college, an appraisal society, institute,or association, a state or federal agency or commission, a proprietary school,or such other educational provider as may be approved by the RealProperty Appraiser Board. Credit may be granted for educationalofferings and for participation other than as a student as approved by theboard.(5) The application for acredential as a certified residential real property appraiser shall includethe applicant's social security number and such other information as the boardmay require. SourceLaws 1994, LB 1107, § 29; Laws 1997, LB 29, § 2; Laws 1997, LB 752, § 206; Laws 2001, LB 162, § 23; Laws 2006, LB 778, § 53; Laws 2007, LB186, § 16; Laws 2008, LB1011, § 11; Laws 2010, LB931, § 14.Effective Date: April 15, 2010