The following educational requirements apply to state-licensed appraisers:

1. (1) An applicant for examination as a state-licensed appraiser credential shall complete the one hundred fifty creditable class hours of approved qualifying education specified in subsections (1)(a) to (1)(g), inclusive, which includes successful completion of each course examination. Acceptable education is:

   1. (a) Basic appraisal principles -- thirty hours;
   2. (b) Basic appraisal procedures -- thirty hours;
   3. (c) A fifteen-hour qualifying course that covers the uniform standards;
   4. (d) Residential market analysis and highest and best use -- fifteen hours;
   5. (e) Residential appraiser site valuation and cost approach -- fifteen hours;
   6. (f) Residential sales comparison and income approaches -- thirty hours; and
   7. (g) Residential report writing and case studies -- fifteen hours.

2. (2) A registered trainee appraiser satisfies the educational requirements for the state-licensed appraiser classification by completing the following additional educational hours:

   1. (a) Residential market analysis and highest and best use -- fifteen hours;
   2. (b) Residential appraiser site valuation and cost approach -- fifteen hours;
   3. (c) Residential sales comparison and income approaches -- thirty hours; and
   4. (d) Residential report writing and case studies -- fifteen hours.

3. (3) A registered trainee appraiser satisfies the educational requirements for the state-licensed appraiser classification by completing the following additional educational hours if the registered trainee appraiser is seeking the state-certified general appraiser credential and the experience includes nonresidential appraisal work:

   1. (a) General market analysis and highest and best use -- thirty hours;
   2. (b) General sales comparison approach -- thirty hours;
   3. (c) General income approach -- sixty hours;
   4. (d) General site valuation and cost approach -- thirty hours; and

   5. (e) General report writing and case studies -- thirty hours.

      Cross-References:

      Requirement for qualifying education credit, § 20:14:13:03.01.

      Application for course approval, § 20:14:13:07.

Source: 18 SDR 36, effective August 25, 1991; 19 SDR 12, effective August 3, 1992; 20 SDR 9, effective August 1, 1993; 21 SDR 49, effective September 18, 1994; 22 SDR 91, effective January 1, 1996; 23 SDR 113, effective January 12, 1997; 24 SDR 91, effective January 8, 1998; 32 SDR 109, adopted December 7, 2005, effective January 1, 2008; 33 SDR 2, adopted June 29, 2006, effective January 1, 2008; 35 SDR 175, effective January 1, 2009; 38 SDR 116, effective January 10, 2012; 38 SDR 214, effective June 21, 2012; 44 SDR 27, effective August 14, 2017 ; 47 SDR 71, effective December 14, 2020; 49 SDR 48, effective November 22, 2022; 49 SDR 48, effective October 1, 2023 .

General Authority: SDCL 36-21B-3 (3)(6).

Law Implemented: SDCL 36-21B-1 , 36-21B-3 (3)(6).

Prior versions effective: 2022-11-22, 2020-12-14, 2017-08-14, 2012-06-21.