The following educational requirements apply to state-certified residential appraisers:

1. (1) An applicant for examination as a state-certified residential appraiser credential shall have completed two hundred creditable class hours of approved qualifying education which includes successful completion of each course examination. Acceptable education is as follows:

   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;
   7. (g) Residential report writing and case studies -- fifteen hours;
   8. (h) Statistics, modeling, and finance -- fifteen hours;
   9. (i) Advanced residential applications and case studies -- fifteen hours; and
   10. (j) Appraisal subject matter electives -- twenty hours.

2. (2) A registered trainee appraiser satisfies the appraiser educational requirements for the state-certified residential appraiser credential 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;
   4. (d) Residential report writing and case studies -- fifteen hours;
   5. (e) Statistics, modeling, and finance -- fifteen hours;
   6. (f) Advanced residential applications and case studies -- fifteen hours; and
   7. (g) Appraisal subject matter electives -- twenty hours.

3. (3) A state-licensed appraiser satisfies the appraiser educational requirements for the state-certified residential appraiser credential by completing the following additional educational hours:

   1. (a) Statistics, modeling, and finance -- fifteen hours;
   2. (b) Advanced residential applications and case studies -- fifteen hours; and

   3. (c) Appraisal subject matter electives -- twenty hours.

      Cross-References: Requirement for qualifying education credit, § 20:14:13:03.01; Application for course approval, § 20:14:13:07.

Source: 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; 35 SDR 175, effective January 1, 2009; 38 SDR 116, effective January 10, 2012; 44 SDR 27, effective August 14, 2017 ; 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, 2017-08-14, 2012-01-10.