20 : 14 : 15 : 01 . Eligibility requirements. To be eligible to enroll in the appraiser experience training program the candidate must:

1. (1) Possess a registered trainee appraiser credential, in good standing, which includes completing the educational requirements specified in § 20:14:05:06.01 and completing the education program course, including the course examination, for registered trainee appraisers specified in § 20:14:05:06.02; and

2. (2) Prior to enrollment, successfully complete the following hours of appraiser training based upon the credential being sought:

   1. (a) For candidates seeking the state-licensed or state-certified residential appraiser credential, the candidate must complete sixty hours of residential appraiser education in the areas of:

      1. (i) Residential market analysis and highest and best use - fifteen hours;
      2. (ii) Residential appraiser site valuation and cost approach - fifteen hours; and
      3. (iii) Residential sales comparison and income approaches - thirty hours.

   2. (b) For candidates seeking the state-certified general appraiser credential, the candidate must complete one hundred fifty hours of approved general appraiser education in the areas of:

      1. (i) General market analysis and highest and best use - thirty hours;
      2. (ii) General sales comparison approach - thirty hours;
      3. (iii) General income approach - sixty hours; and
      4. (iv) General site valuation and cost approach - thirty hours.

Source: 49 SDR 25, effective September 18, 2022; 49 SDR 48, effective November 22, 2022; 49 SDR 48, effective October 1, 2023.

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

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

Prior versions effective: 2022-11-22, 2022-09-18.