Guam § 30124 - Trainee Real Property Appraiser: Classification: Qualification

§ 30124. Trainee Real Property Appraiser: Classification: Qualification

Criteria.

The scope of practice for the Appraiser Trainee Classification is the

appraisal of those properties which the supervising appraiser is permitted to

appraise. The appraiser trainee shall be subject to the Uniform Standards of

Professional Appraisal Practice. The appraiser trainee shall be entitled to

obtain copies of appraisal reports he or she prepared. The supervising

appraiser shall keep copies of appraisal reports for a period of at least five

(5) years, or at least two (2) years after final disposition of any judicial

proceeding in which testimony was given, whichever period expires last. An

appraiser trainee must meet the following requirements:

(a) Examination. There is no examination requirement for the

Appraiser Trainee Classification.

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(b) Education. Prerequisite to application: seventy-five (75) classroom

hours of courses in subjects related to real estate appraisal, which shall

include coverage of the Uniform Standards of Professional Appraisal

Practice or its equivalent. Equivalency shall be determined through the

AQB Course Approval Program or by an alternate method established by

the AQB.

(1) A classroom hour is defined as fifty (50) minutes out of each

sixty (60) minute segment.

(2) Classroom hours may only be obtained where the minimum

length of the educational offering is fifteen (15) hours and the

individual successfully completes an examination pertinent to that

educational offering.

(3) Credit for the classroom hours requirement may be obtained

from the following:

(a) Colleges or universities;

(b) Community or junior colleges;

(c) Real estate appraisal or real estate-related organizations;

(d) State or Federal agencies or commissions;

(e) Proprietary schools; and

(f) Other providers approved by the state certification or

licensing agency.

(4) Qualifying education must have been obtained within the five

(5) year period immediately preceding application for licensure.

(5) The content for courses, seminars, workshops, or conferences

should include coverage of real estate appraisal-related topics, such as:

(a) Influences on Real Estate Value

(b) Legal Considerations in Appraisal

(c) Types of Value

(d) Economic Principles

(e) Real Estate Markets and Analysis

(f) Valuation Process

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(g) Property Description

(h) Highest and Best Use Analysis

(i) Appraisal Statistical Concepts

(j) Sales Comparison Approach

(k) Site Value

(l) Cost Approach

(m) Income Approach

(n) Valuation of Partial Interests

(o) Appraisal Standards and Ethics

(c) Experience. (1) The appraiser trainee shall be subject to direct

supervision by a supervising appraiser who shall be state licensed or

certified in good standing.

(2) The supervising appraiser shall be responsible for the training

and direct supervision of the appraiser trainee by: (a) accepting

responsibility for the appraisal report by signing and certifying the

report is in compliance with the Uniform Standards of Professional

Appraisal Practice; (b) reviewing the appraiser trainee appraisal

report(s); and (c) personally inspecting each appraised property with

the appraiser trainee until the supervising appraiser determines the

appraiser trainee is competent in accordance with the Competency

Provision of the Uniform Standards of Professional Appraisal Practice

for the property type.

(3) The appraisal trainee is permitted to have more than one (1)

supervising appraiser.

(4) An appraisal log shall be maintained by the appraiser trainee

and shall, at a minimum, include the following for each appraisal: (a)

Type of Property; (b) Client name and address; (c) Address of

appraised property; (d) Description of work performed; (e) Number of

work hours; and (f) Signature and state license/certification number of

the supervising appraiser.

(5) Separate appraisal logs shall be maintained for each

supervising appraiser.

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(d) Continuing Education. An appraiser trainee who remains in this

classification in excess of two (2) years shall be required in the third and

successive years to obtain:

(1) The equivalent of fourteen (14) classroom hours of instruction

in the courses or seminars for each year during the period preceding

the renewal. Continuing education hours may be obtained anytime

during the term.

(a) A classroom hour is defined as fifty (50) minutes out of

each sixty (60) minute segment.

(b) Credit toward the classroom hour requirement may be

granted only where the length of the educational offering is at

least two (2) hours.

(c) Credit for the classroom hour requirement may be

obtained from the following:

(1) College or universities;

(2) Community or joint colleges;

(3) Real estate appraisal or real-estate related

organizations;

(4) State or Federal agencies or commissions;

(5) Proprietary schools; and

(6) Other providers approved by the state certification

or licensing agency.

(d) Credit may be granted for educational offerings which

are consistent with the purpose of continuing education stated in

Item (3) of this Subsection and cover real estate-related appraisal

topics such as those listed below.

(1) Ad Valorem Taxation;

(2) Arbitration;

(3) Business courses related to practice of real estate

appraisal;

(4) Construction estimating;

(5) Ethics and standards of professional practice;

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(6) Land use planning, zoning and taxation;

(7) Management, leasing, brokerage, timesharing;

(8) Property development;

(9) Real estate appraisal (valuations/evaluations);

(10) Real estate law;

(11) Real estate litigation;

(12) Real estate financing and investment;

(13) Real estate appraisal-related computer applica-

tions;

(14) Real estate securities and syndication; and

(15) Real property exchange.

(2) Continuing education credit may also be granted for

participation, other than as a student, in appraisal education processes

and programs. Examples of activities for which credit may be granted

are teaching, program development, authorship of textbooks, or similar

activities which are determined to be equivalent to obtaining

continuing education.

(3) The purpose of continuing education is to ensure that the

appraiser participates in a program that maintains and increases his or

her skill, knowledge and competency in real estate appraising