South Dakota Appraisal License Information

The South Dakota Department of Commerce and Regulation have identified four levels of real property appraisal classification:

State-Registered Appraiser
State-Licensed Appraiser
State-Certified Residential Appraiser
State-Certified General Appraiser

Current South Dakota Appraiser License Requirements

The South Dakota Department of Commerce and Regulation has established the minimum educational requirements for an appraisal license. The minimum educational requirements include the following:

State-Registered Appraiser
75 hours, including 15 hours of ethics and standards. No experience requirements. May perform any noncomplex property appraisal with a transaction value of less than $250,000 and assist a licensed or certified appraiser in the preparation of federally related transaction purpose appraisals. College-level requirements: None

State-Licensed Appraiser
150 hours, including 15 hours of ethics and standards. One thousand hours across at least 24 months. Any noncomplex non-residential property appraisal or complex one- to four-family residential property appraisal with a transaction value of less than $250,000 and any noncomplex one- to four-family residential property appraisal with a transaction value of less than $1,000,000. College-level requirements: None

State-Certified Residential Appraiser
200 hours, including 15 hours of ethics and standards and narrative report writing. Twenty-five hundred hours across at least 24 months, including at least 1,250 hours of residential experience. Any noncomplex non-residential property appraisal with a transaction value of less than $250,000 and any one- to four-family residential property appraisal without regard to transaction value or complexity. College-level requirements: Associate degree or higher. In lieu of the required degree, 21 semester credit hours covering the following 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.

State-Certified General Appraiser
300 hours, including 15 hours of ethics and standards and narrative report writing. Three thousand hours across at least 30 months, including at least 1,500 hours non-residential experience. Any type of property without regard to transaction value or complexity. College-level requirements: Bachelors degree or higher. In lieu of the required degree, 31 semester credit hours covering the following 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 elective courses in accounting, geography, ag-economics, business management, or real estate.

IMPORTANT: For detailed information on understanding the 2008 Real Property Appraiser Qualification Criteria, please follow this link to the Appraisal Foundation.

UPCOMING CHANGES TO REAL PROPERTY APPRAISER QUALIFICATIONS

Beginning January 1, 2015, the AQB has made significant changes to appraisal qualifications. It is possible that some states may choose to implement the changes sooner, so be sure to check with your state regulator.

Several important changes are outlined below, with complete details available in this AQB publication: http://www.asisvcs.com/publications/pdf/220913.pdf

IMPORTANT CHANGE: Increased College Degree Requirements

Implications: After 1/1/15, you must hold a bachelor's degree to obtain the Certified Residential license level or beyond. If you achieve this license level prior to 1/1/15, you will be grandfathered under the old regulations.

CLASSIFICATION	CURRENT REQUIREMENTS	January 1, 2015 REQUIREMENTS
Trainee Appraiser	None	None
Licensed Residential Appraiser	None	30 semester credit hours of collegelevel education from an accredited college, junior college, community college, or university OR an Associate’s degree or higher (in any field).
Certified Residential Appraiser	21 semester credit hours in specified collegiate subject matter courses from an accredited college or university OR an Associate’s degree or higher.	Bachelor’s degree or higher (in any field) from an accredited college or university.
Certified General Appraiser	30 semester credit hours in specific collegiate subject matter courses from an accredited college or university OR a Bachelor’s degree or higher.	Bachelor’s degree or higher (in any field) from an accredited college or university.

IMPORTANT CHANGE: Experience Hours are Required BEFORE taking the licensing exam.

Implications: For the Licensed, Certified Residential and Certified General license levels, the required experience must be completed prior to taking the licensing exam. If you intend to upgrade your license prior to the 1/1/15 rules change, you need to be sure that you have enough time to complete your experience hours.

State Regulatory Agency

South Dakota Department of Commerce and Regulation
Ms. Sherry Bren: Executive Director
445 E. Capitol Ave
Pierre, SD 57501-3185
(605) 773-4608
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