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

(A) 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, obtained from a nationally or state recognized appraisal or real estate organization, an institution of higher education, a proprietary school, a state or federal commission or agency, a provider approved by the superintendent or the real estate appraiser board, or the appraisal foundation or its boards. 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.

(B) 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 from an accredited college, junior college, community college or university. In lieu of a degree, an applicant shall successfully pass twenty-one semester hours or their equivalent from an accredited college, junior college, community college, or university covering the following collegiate subject matter courses: English composition; principles of economics (micro or macro); finance; algebra, geometry or higher mathematics; statistics; 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 obtained from a nationally or state recognized appraisal or real estate organization, an institution of higher education, a proprietary school, a state or federal commission or agency, a provider approved by the superintendent or the real estate appraiser board, or the appraisal foundation or its boards. 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.

(C) 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 from an accredited college or university. In lieu of a degree, an applicant shall successfully pass thirty semester hours or their equivalent from an accredited college, junior college, community college, or university covering the following collegiate subject matter courses: English composition; micro economics; macro economics; finance; algebra, geometry or higher mathematics; statistics; 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, obtained from a nationally or state recognized appraisal or real estate organization, an institution of higher education, a proprietary school, a state or federal commission or agency, a provider approved by the superintendent or the real estate appraiser board, or the appraisal foundation or its boards. 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.

(D) An applicant for licensing or certification shall satisfy the requirements of paragraphs (A), (B)(2) and (C)(2) of this rule through distance education as defined in paragraph (A) of rule 1301:11-7-03 of the Administrative Code or through hours of instruction in a classroom setting. Distance education must satisfy the requirement of paragraph (D) of rule 1301:11-7-01 of the Administrative Code and distance education must be obtained from a nationally or state recognized appraisal or real estate organization, an institution of higher education, a proprietary school, a state or federal commission or agency, a provider approved by the superintendent or the real estate appraiser board, or the appraisal foundation or its boards. Hours of instruction in a classroom setting must be approved by the appraisal qualifications board of the appraisal foundation, or obtained from an institution of higher education, a nationally or state recognized appraisal or real estate organization, a proprietary school, a state or federal commission or agency, a provider approved by the superintendent or the real estate appraiser board, or the appraisal foundation or its boards.

(E) For this rule, a "classroom hour" is defined as fifty minutes of instruction out of each sixty minute segment attended by the student. "Classroom hour" applies to instruction held in a classroom or in a distance education setting. 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.

(F) 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.

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

Effective: 11/01/2012
R.C. 119.032 review dates: 05/20/2016
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, 1/1/2007, 01/01/2009, 01/01/2012