1301:11-3-03 Education requirements for applicants for licensing and certification.

 

 

 

1301:11-3-03               Education   requirements   for   applicants   for   licensing   and certification.

 

 

 

(A)   Prior to January 1, 2008, an applicant for a residential real estate appraiser license, shall comply with the following: The applicant shall complete ninety classroom hours of instruction in subjects related to real estate appraisal, which shall include at least one course devoted exclusively to federal, state, and municipal fair housing law, presented by a nationally recognized appraisal organization, an institution of higher education, a career school registered by the state board of career colleges and schools, a state or federal commission or agency, or any other organization that represents the interests of financial institutions or real estate brokers, appraisers, or agents and that provides appraisal education. Fifteen of the ninety hours shall include the successful completion of the national uniform standards of professional appraisal practice course or its equivalent. Equivalency shall be determined by the appraiser qualifications board approval program or by an alternate method established by the appraiser qualifications board.

 

(B)     Prior to January 1, 2008, an applicant for a residential real estate appraiser certification shall comply with the following: The applicant shall complete one hundred twenty classroom hours of instruction in subjects related to real estate appraisal, which shall include at least one course devoted exclusively to federal, state, and municipal fair housing law, presented by a nationally recognized appraisal organization, an institution of higher education, a career school registered by the state board of career colleges and schools, a state or federal commission or agency, or any other organization that represents the interests of financial institutions or real estate brokers, appraisers, or agents and that provides appraisal education, and which may include the applicant's documentation of compliance with the ninety classroom hour requirement for the residential real estate appraiser license. Fifteen of the one hundred twenty hours shall include the successful completion of the national uniform standards of professional appraisal practice course or its equivalent as determined by the appraiser qualifications board approval program or by an alternate method established by the appraiser qualifications board.

 

(C)   Prior to January 1, 2008, an applicant for a general real estate appraiser certification shall comply with the following: The applicant shall complete one hundred eighty classroom hours of instruction in subjects related to real estate appraisal, which shall include at least one course devoted exclusively to federal, state, and municipal fair housing law, presented by a nationally recognized appraisal organization, an institution of higher education, a career school registered by the state board of career colleges and schools, a state or federal commission or agency, or any other organization that represents the interests of financial institutions or real estate brokers, appraisers, or agents and that provides appraisal education, and which may include the applicant's documentation of compliance with the ninety classroom hour requirement for the residential real estate appraiser license. Fifteen of the one hundred  eighty  hours  shall  include  the  successful  completion  of  the  national

 

 

uniform standards of professional appraisal practice course or its equivalent. Equivalency shall be determined by the appraiser qualifications board approval program or by an alternate method established by the appraiser qualifications board.

(D)   Prior to January 1, 2008, as used in this rule, "instruction in subjects related to real estate appraisal" shall include, but not be limited to, courses emphasizing the following, with particular emphasis on the subject matter of the certificate  or license being applied for:

(1)   Real property concepts and characteristics,

(2)   Legal considerations,

(3)   Influences on real estate value,

(4)   Types of value,

(5)   Economic principles,

(6)   Overview of real estate markets and analysis,

(7)   Ethics and how they apply in appraisal theory and practice,

(8)   Overview of approaches to value,

(9)   Valuation procedures,

(10)   Property description,

(11)   Residential applications,

(12)   Uniform standards of professional appraisal practice,

(13)   Ohio real estate appraisal laws and rules,

(14)   Highest and best use,

(15)   Site valuation, and

(16)   Cost approach.

(E)    On or after January 1, 2008, but before January 1, 2009, in order to qualify for the license or certificate for which an application has been made, an applicant for a residential real estate appraiser license, a residential real estate appraiser certificate, or a general real estate appraiser certificate shall meet the experience requirements of rule 1301:11-3-04 of the Administrative Code as are in effect as of the date the applicant completes those experience requirements or on December 31, 2007, whichever is later; shall meet the education requirements of this rule as are in effect as of the date the applicant completes the education, or on December 31, 2007, whichever is later; and, shall successfully complete an examination as required by rule 1301:11-3-05 of the Administrative Code as of the date the applicant achieves a passing score on the examination requirements.

(F)   On or after January 1, 2008, an applicant for a residential real estate appraiser license, shall comply with the following: The applicant shall complete one hundred fifty classroom hours of instruction in the required core curriculum listed in this paragraph and at least one course devoted exclusively to federal, state, and municipal fair housing law, presented by a nationally recognized appraisal organization, an institution of higher education, a career school registered by the state board of career colleges and schools, a state or federal commission or agency, or any other organization that represents the interests of financial institutions or real estate brokers, appraisers, or agents and that provides appraisal education. Fifteen of the one hundred fifty hours shall include the successful completion of the national uniform standards of professional appraisal practice course or its equivalent. Equivalency shall be determined by the appraiser qualifications board approval program or by an alternate method established by the appraiser qualifications board. The required core curriculum for licensing as a residential real estate appraiser shall also include thirty hours of instruction in basic appraisal principles, thirty hours of instruction in basic appraisal procedures, fifteen hours of instruction in residential market analysis and highest and best use, fifteen hours of instruction in residential appraiser site valuation and cost approach, thirty hours of instruction in residential sales comparison and income approaches, and  fifteen hours of instruction in residential report writing and case studies.

(G)     On or after January 1, 2008, an applicant for a residential real estate appraiser certification shall comply with both of the following:

(1)    The applicant shall hold an associates degree or higher degree in any field of study, or, in lieu of a degree, twenty-one semester hours or their equivalent covering English composition, principles of economics (micro or macro), finance, algebra, geometry or higher mathematics, statistics, introduction to computers - word processing/spreadsheets, computer science, and business or

real estate law; and

(2)   The applicant shall complete two hundred classroom hours of instruction in the required core curriculum listed in this paragraph and at least one course devoted exclusively to federal, state, and municipal fair housing law presented by a nationally recognized appraisal organization, an institution of higher education, a career school registered by the state board of career colleges and schools, a state or federal commission or agency, or any other organization that represents the interests of financial institutions or real estate brokers, appraisers, or agents and that provides appraisal education. Fifteen of the two hundred hours shall include the successful completion of the national uniform standards of professional appraisal practice course or its equivalent. Equivalency shall be determined by the appraiser qualifications board approval program or by an alternate method established by the appraiser qualifications board. The required core curriculum for certification as a residential real estate appraiser shall also include thirty hours of instruction in basic appraisal principles, thirty hours of instruction in basic appraisal procedures, fifteen hours of instruction in residential appraiser market analysis and highest and best use, fifteen hours of instruction in residential appraiser site valuation and cost approach, thirty hours of instruction in residential sales comparison and income approaches, fifteen hours of instruction in residential report writing and case studies, fifteen hours of instruction in statistics, modeling and finance, fifteen hours of instruction in advanced residential applications and case studies, and twenty hours of instruction in appraisal subject matter electives.

(H)     On  or  after  January  1,  2008,  an  applicant  for  a  general  real  estate  appraiser certification shall comply with both of the following:

(1)    The applicant shall hold a bachelors degree or higher degree in any field of study, or, in lieu of a degree, thirty semester hours or their equivalent covering English composition, micro economics, macro economics, finance, algebra, geometry or higher mathematics, statistics, introduction to computers

- word processing/spreadsheets, computer science, business or real estate law, and two elective courses in accounting, geography, agricultural economics, business management or real estate; and

(2)   The applicant shall complete three hundred classroom hours of instruction in the required core curriculum listed in this paragraph and at least one course devoted exclusively to federal, state, and municipal fair housing law, presented by a nationally recognized appraisal organization, an institution of higher education, a career school registered by the state board of career colleges and schools, a state or federal commission or agency, or any other organization that represents the interests of financial institutions or real estate

brokers, appraisers, or agents and that provides appraisal education. Fifteen of the three hundred hours shall include the successful completion of the national uniform standards of professional appraisal practice course or its equivalent. Equivalency shall be determined by the appraiser qualifications board approval program or by an alternate method established by the appraiser qualifications board. The required core curriculum for certification as a general real estate appraiser shall also include thirty hours of instruction in basic appraisal principles, thirty hours of instruction in basic appraisal procedures, thirty hours of instruction in general appraiser market analysis and highest and best use, fifteen hours of instruction in statistics, modeling and finance, thirty hours of instruction in general appraiser sales comparison approach, thirty hours of instruction in general appraiser site valuation and cost approach, sixty hours of instruction in general appraiser income approach, thirty hours of instruction in general appraiser report writing and case studies, and thirty hours of instruction in appraisal subject matter electives.

(I)   An applicant for licensing or certification shall only receive credit for classroom hours of instruction in subjects related to real estate appraisal as required by paragraphs (A), (B), (C) (F), (G) and (H) of this rule when those hours have been approved by the appraisal qualifications board of the appraisal foundation, or obtained from an institution of higher education, a nationally recognized appraisal organization, a proprietary school registered by the state board of proprietary school registration, a state or federal commission or agency, or any other organization that represents the interests of financial institutions or real estate brokers, appraisers, or agents and that provides appraisal education.

(J)    For this rule, a "classroom hour" is defined as fifty minutes out of each sixty minute segment. With the exception of the course devoted exclusively to federal, state, and municipal fair housing law, classroom hours may be obtained only where the minimum length of the course offering is fifteen hours, and the individual shall successfully complete an examination pertinent to that course offering in order to receive credit for any class or classroom hour required as a prerequisite for a registration, license or certification in accordance with this rule.

(K)   To establish successful completion of the education requirements prescribed in this rule, an applicant shall submit to the division of real estate a certificate, transcript, letter or other similar documentation properly issued from the entity at which the course or courses of education was completed. The superintendent of real estate may request supporting documentation to determine the acceptability of a particular course or courses.

(L)   An applicant must meet the education requirements in this rule prior to being seated for the examination.

(M)   The division shall not issue an initial license or certificate on or after January 1, 2009 unless the applicant has demonstrated compliance with paragraph (F), (G) or (H) of this rule.

(N)    The division may approve an applicant to sit for an examination for a license or certificate if the applicant's completed application for licensing or certification has been received at the Columbus office of the division before January 1, 2009 along with the required fee and associated documents who meets the requirements for licensing or certification as of the date of the division's receipt of their application.

Effective:	01/01/2009
R.C. 119.032 review dates:	06/30/2011
CERTIFIED ELECTRONICALLY
Certification
11/10/2008
Date
Promulgated Under:	119.03
Statutory Authority:	4763.03
Rule Amplifies:	4763.05
Prior Effective Dates:	1/1/2007, 12/1/1990, 11/15/1991, 5/7/1993, 9/10/1996,
	3/20/1999, 6/21/2002