Discover the Rewards of Becoming a Certified General Appraiser
Unveiling the Profession
A Certified General Appraiser (CGA) is a highly qualified professional authorized to evaluate any type of property. This designation is regulated by state laws and overseen by the Appraisal Foundation, ensuring consistency and integrity in property valuations. As a CGA, one has the credentials to assess both residential and nonresidential properties, making this role vital in the real estate market.
Extensive Education and Training Requirements
To achieve the status of a CGA, individuals must meet rigorous educational and professional experience requirements:
- Education: Complete 300 classroom hours of pre-certification education, which includes extensive coverage of the Uniform Standards of Professional Appraisal Practice (USPAP). Additionally, one must hold at least a bachelor’s degree.
- Experience: Accumulate 3,000 hours of practical appraisal experience over a minimum period of 30 months. Notably, of these hours, a minimum of 1,500 must be dedicated to nonresidential appraisal work.
From Knowledge to Certification: Jim Weaver’s Journey
Example: Jim Weaver exemplifies the determination and dedication required to attain the CGA designation. After fulfilling the necessary education and acquiring a bachelor’s degree, he diligently completed over 3,000 hours of appraisal experience, with more than half dedicated to nonresidential properties. Thanks to meeting and often exceeding the foundational standards, Jim is now qualified to appraise any property, including those involving federal agencies like the FDIC.
Why Pursue a Career as a CGA?
Becoming a CGA offers several notable benefits, including:
- Broad Career Opportunities: CGAs can evaluate a wide variety of properties, enhancing their career versatility.
- High Market Demand: Expert appraisers are sought after by real estate firms, financial institutions, and government agencies.
- Professional Prestige: Holding a CGA title demonstrates a high level of expertise and commitment to the appraisal profession.
Frequently Asked Questions
1. What is the primary job of a Certified General Appraiser?
A Certified General Appraiser evaluates and provides value assessments for various properties, ensuring these valuations meet regulatory standards and offer accurate market value insights.
2. What is USPAP?
The Uniform Standards of Professional Appraisal Practice (USPAP) are ethical and performance standards for the appraisal profession in the United States.
3. How long does it take to become a Certified General Appraiser?
On average, it takes about 2.5 years to complete the required 3,000 hours of experience, alongside the pre-certification educational courses.
4. Is a bachelor’s degree necessary for CGA certification?
Yes, a bachelor’s degree is required alongside other educational and experiential components.
5. What kind of properties can a CGA appraise?
A CGA can appraise both residential and nonresidential properties, with no limitations on the type or value of property they can assess.
Related Terms: real estate appraisal, property assessment, appraiser certification, USPAP, real estate valuation.
