Summary of OREA Licenses

License Levels	Education Requirements	Experience Requirements	Scope of Practice
Trainee/ Provisional	90 hours	None	Any property which the supervising appraiser is permitted to appraise
Residential	90 hours	2000 hours	Any 1-4 family property with transaction value up to $1 million and non-residential property with transaction value up to $250,000.
Certified Residential	120 hours	2500 hours	Any 1-4 family property without regard to transaction value and non-residential property with transaction value up to $250,000.
Certified General	180 hours	3000 hours 1500 hours must be non-residential	All real estate without regard to value or complexity

Education
There are over 1100 basic education courses which are accredited by OREA.
These include courses from colleges, universities, professional organizations and
vocational schools.
Applicants can verify course approval by referring to the OREA published list of Basic
Education Courses.
Applicants for a Trainee or Residential License may use correspondence courses to meet the basic or continuing education requirements.

Course Requirements:
- Courses must be a minimum of 15 classroom hours (classroom hour=50 minutes).
- Courses must include a final examination.
- Courses must cover at least one of the specific topics required.

Required Courses to become Licensed or Provisional (trainee):
- Standards and Ethics
- Course covering the USPAP (Uniform Standards of Professional Appraisal Practice)
- Federal and State Laws and Regulations
- Courses Covering all Required Topics:
- Influences on Real Estate Value
- Legal Considerations in Appraisal
- Types of Value
- Economic Principles
- Real Estate Markets and Analysis
- Valuation Process
- Property Description
- Highest and Best Use Analysis
- Appraisal Statistical Concepts
- Sales Comparison Approach
- Site Value
- Cost Approach
- Gross Rent Multiplier Analysis
- Operating Expense Ratios
- Valuation of Partial Interests

Work Experience Requirements
All work for which experience is claimed must have been performed for a business purpose.
Credit towards meeting the minimum appraisal work experience requirements may be granted
in any of the following categories.

Categories of Experience:
Fee and Staff Appraisal
Ad Valorem Tax Appraisal
Review Appraisal
Appraisal Analysis
Real Estate Counseling
Highest and Best Use Analysis
Feasibility Analysis and Study
Teaching of Appraisal Courses
Setting Forth Opinions of Value of Real Property for Tax Purposes
Assisting in the Preparation of Appraisals
Real Estate Valuation Experience as a Lending Officer or Broker
Applicants are required to submit 2 work samples for each category of experience claimed.

A Trainee, to earn acceptable hours of experience, must work under the direct technical supervision of a licensed appraiser in good standing. The Trainee must maintain copies of appraisal reports along with maintaining an appraisal log on reports he/she worked on.

Application and Examination
When the person has completed the basic educational and work experience, proof is sent to the OREA. After OREA reviews and makes a preliminary determination that the applicant has met the minimum requirements, the applicant will be sent an Admission to Examination letter along with information explaining the examination scheduling procedures.
As part of the application process, you must provide two completed fingerprint cards. These are provided by the OREA. Your identification and fingerprint information will be used by the Dept. of Justice and or the FBI to assist OREA in determining if you have any criminal record. There usually is a small fee to have your fingerprint cards completed.

Fees for Provisional or Residential License:
$220 - Application Review
$70 - Examination After passing the test, license fees are:
$310 - Provisional License
$335 - Residental License
$460 - Certified Residential or General